Acumen initiated with a Buy at Citi

Citi initiated coverage of Acumen (ABOS) (ACUM) with a Buy rating and $4 price target Acumen is a clinical stage biotech company currently developing sabirnetug for the treatment of Alzheimer’s disease by selectively targeting toxic AN2 oligomers, the analyst tells investors in a research note. The firm says Acumen is utilizing a novel approach by only attacking toxic AN2 oligomers with IV sabirnetug, whereas other companies’ monoclonal antibodies target other less-toxic AN2O species such as monomers, protofibrils or mature plaques. It believes the company has generated “early yet promising” Phase 1 data, which suggests sabirnetug reduces amyloid plaques at a similar rate and magnitude to Biogen’s (BIIB) Leqembi at comparable time points, alongside a safety profile that betters current on-the-market therapies. Citi views the large unmet need in Alzheimer’s as a space that can hold multiple players including sabirnetug.