Acumen Pharmaceuticals, Inc.

Good day, and thank you for standing by. Welcome to Acumen Pharmaceutical's first quarter 2024 conference call and webcast. At this time, all participants are in a listen-only mode. After the speaker's presentation, there'll be a question and answer session. To ask a question during the session, you'll need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Alex Braun, Vice President and Head of Investor Relations. Please go ahead.

Thanks, Norma. Good morning and welcome to the Acumen conference call to discuss our business update and financial results for the quarter ended March 31st, 2024. With me today are Dan O'Connell, our CEO, and Matt Zuga, our CFO and Chief Business Officer. Dan and Matt have some prepared remarks and then we'll open the call for questions. Joining for the Q&A session, we also have Dr. Jim Doherty, our President and Chief Development Officer, and Dr. Eric Siemers, our Chief Medical Officer. Before we begin, we encourage listeners to go to the Investors section of the Acumen website to find our press release issued this morning that we'll discuss today. Please note that during today's conference call, we may make forward-looking statements within the meaning of the federal securities laws, including statements concerning our financial outlook and expected business plans. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Please see slide two of our corporate presentation, our press release issued this morning, and our most recent annual and quarterly reports filed with the SEC for important risk factors that could cause our actual results to differ materially from those expressed or implied in the forward-looking statements. We undertake no obligation to update or revise the information provided on this call or in the accompanying presentation as a result of new information or future results or developments. So with that, I'll turn the call over to Dan.

Thanks, Alex. Good morning, everyone, and thanks for joining us today. As we noted on our year-end call in March, 2024 is a year of execution for Acumen as we work to establish the therapeutic potential of Subirnatug as a best-in-class treatment option for the substantial early Alzheimer's patient population. I'm pleased to say that we were off to a great start with the first patient dosed in our Altitude AD Phase 2 study announced just last week. Altitude is a randomized placebo-controlled double-blind study with three arms designed to evaluate the clinical efficacy and safety of Subirnatug with approximately 180 participants per arm for a total of 540 participants with NCI or mild dementia due to Alzheimer's disease. We are highly encouraged by the start of the altitude study, which we attribute to a couple of key factors. First, we received positive feedback from site investigators on our phase one intercept results. The thoroughness of the intercept data package appears to be resonating, particularly the confluence of biomarker improvements we saw in patients after only three doses. Second, the design of the altitude study has been viewed favorably by many investigators and patients. Because our phase one oligomer target engagement data was so informative, we are proceeding in phase two with two dose arms that may prove efficacious. So patients have a greater chance of receiving a therapeutically relevant dose level of Subirnatug. Additionally, the open label extension is proving to be important to patients in the screening process as it provides for 12 months of Subirnatug active treatment following the 18-month placebo control portion of the study. Overall, I'm extremely pleased with the strong foundation that our team and CRO partner have built with key trial sites, highlighting the benefits of preparation, communication for screening, and enrollment efficiency. In addition, we also recently announced a collaboration agreement with Lonza for manufacturing of Subernatug for clinical development and commercialization should it be approved. This is important because it allows us to leverage Lonza's regulatory expertise, extensive experience in antibody manufacturing, and global manufacturing network. We are also on track to initiate a phase one study in healthy subjects for subcutaneous formulation of Subirnatug in mid 2024. We believe a competitive product profile for Subirnatug includes a subcutaneous option to offer additional flexibility and convenience for patients and caregivers. We'll provide more information on the plan for that work stream once we have the PK results in hand. We remain committed to delivering on our strategic priority to efficiently and thoughtfully advance the clinical development of Suburnatug for the benefit of patients, caregivers, and shareholders. I look forward to updating you as we work to achieve Altitude AD Phase II data that we believe will provide the true value inflection for the Suburnatug program. And with that, I'll turn the call over to Matt for the financials.