BIIB - Acumen Pharmaceuticals initiated at buy at H.C. Wainwright on Alzheimer's candidate

• H.C. Wainwright has initiated Acumen Pharmaceuticals ( NASDAQ: ABOS ) with a buy rating saying the biopharma's early-stage Alzheimer's candidate, ACU193, has promise.
• The firm has a $15 price target (~207% return based on Wednesday's closing price).
• Unlike many other Alzheimer's therapies in development -- and marketed ones such as Biogen's ( BIIB ) Aduhelm (aducanumab) -- that target the removal of beta amyloid plaque from the brain, ACU193 works differently as a anti-amyloid-beta oligomer (A?O) monoclonal antibody.
• Analyst Andrew Fein noted that ACU193 "lacks the inflammatory effector functions of other [immunoglobulin] subclasses, thereby making it less prone to [amyloid-related imaging abnormalities], a major safety issue with current anti-[amyloid beta] therapies.
• Acumen ( ABOS ) said ACU193 prevents toxic A?Os from binding to dendritic spines and preserves neural function. The company added the candidate has the potential for disease slowing as well as cognitive improvement.
• The ongoing phase 1 trial is expected to enroll 62 subjects with mild cognitive impairment or mild dementia.

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