BUZZ-Acumen shares plunge due to mid-stage trial failure for Alzheimer's drug

October 30 - ** Acumen Pharmaceuticals (ABOS.O) shares plummeted 78.2% in pre-market trading to $0.50

** The biotechnology company stated that its experimental drug sabirnetug for the treatment of Alzheimer’s disease failed to meet the primary endpoint in a mid-stage trial, showing no significant efficacy in delaying memory and functional decline compared to placebo

** The company said that key secondary endpoints, including CDR-SB, also did not achieve statistical significance

** Although the drug reduced levels of amyloid plaques in the brain, this did not translate into clinical benefit

** The company plans to halt development of sabirnetug, terminate the extension phase of the study, and implement cash preservation measures

** As of the close of the previous trading day, the stock had risen about 9% year-to-date

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