Cambridge biotech tracker · Newton
Acumen Pharmaceuticals
Listed on Nasdaq as ABOS, filed under SEC industry code 2836 (biological products). Fiscal year ends in December. Numbers below are from the company’s own SEC filings through Q3 '26.
- Cash & investments
- $78.6M
- Q3 '26 · Sep 30, 2026
- Burn per quarter
- $22.0M
- avg. operating cash flow, 4 qtrs
- Runway
- 11 mo
- Under 12 months
- Net loss
- $25.4M
- Q3 '26
- R&D expense
- $21.1M
- 82% of opex
- Raised, last 4 qtrs
- +$30.5M
- net financing cash flow
Cash & investments
Quarter-end balance
Operating cash flow
Per quarter; below zero is burn
R&D expense
Per quarter
Two views of the runway
Compare across the clusterThe outside view
11 months
Cash at Q3 '26 divided by the average burn of the last four quarters, $7.3M a month.
Management’s own date
Into early 2027
Jan–Apr 2027
That implies $11.2M to $25.7M a month, 1.5–3.5× the recent pace.
Planning to spend faster“The current balance of our cash and cash equivalents and marketable securities is expected to fund our operations into early 2027.”
Pipeline
1 active trial, through phase 2.
Phase 2 · 1
| Study | Phase | Status | Enrolled | Primary completion |
|---|---|---|---|---|
| A Study to Evaluate Efficacy and Safety of Intravenous Sabirnetug in Participants With Early Alzheimer's Disease (ALTITUDE-AD)NCT06335173 · Alzheimer DiseasePhase 2Oct 2026est. | Phase 2 | Active, not recruiting |
Interventional studies where this company is the lead sponsor, from ClinicalTrials.gov. Primary completion is when the last patient is measured on the primary endpoint, which is when the data exists rather than when it is announced. Extension, rollover and healthy-volunteer studies are listed but marked as non-catalysts, because they finish long after the result that mattered. Sponsors revise these dates as enrollment moves, so an estimate is a plan rather than a promise.
The controller’s read
What the filings say.
Generated from the numbers above using the same questions I ask when I open a client’s books: how long the cash lasts, what is driving the gap between loss and burn, and where the accounting judgment sits.
Get this read on your companyAbout 11 months of runway
Cash and investments of $78.6M at Q3 '26 against an average operating cash burn of $22.0M per quarter over the last four reported quarters runs out around July 2027. Under a year of runway is where ASC 205-40 going-concern evaluations, financing timing, and cost plans all get decided at once.
Cash position down $153M since Q4 '24
Net financing inflows of $30.5M over the last four quarters, from equity, debt, or ATM sales, partly offset operating burn. The balance is the number the board watches; the trend is the number the auditors watch.
R&D is 82% of operating expenses
$21.1M of R&D against $25.8M of total operating expenses in Q3 '26, with G&A at $4.7M. For a clinical-stage company, the accounting questions live inside that R&D line: CRO and CMC accruals, milestone recognition, and what gets capitalized versus expensed under ASC 730.
$5.9M of long-term debt or convertible notes
Debt in a pre-revenue biotech usually comes with liquidity covenants and, for convertibles, embedded features that need ASC 815 and ASC 470 analysis each quarter.
Accumulated deficit of $525M
Total losses since inception. It is also roughly the size of the net operating loss carryforward the tax provision has to track, subject to Section 382 limits after each ownership change.
Quarterly detail, eight quarters
| Quarter | Cash & inv. | Op. cash flow | Net income | R&D | G&A | Revenue | Stock comp | Financing |
|---|---|---|---|---|---|---|---|---|
| Q4 '24 · Dec 31, 24 | $232M | −$27.2M | −$37.2M | $34.6M | $5.0M | — | $2.3M | −$9K |
| Q1 '25 · Mar 31, 25 | $198M | −$34.1M | −$28.8M | $25.3M | $5.1M | — | $2.5M | −$36K |
| Q2 '25 · Jun 30, 25 | $166M | −$31.8M | −$41.0M | $37.1M | $4.6M | — | $2.5M | $0 |
| Q3 '25 · Sep 30, 25 | $136M | −$30.5M | −$26.5M | $22.0M | $4.5M | — | $2.5M | $0 |
| Q4 '25 · Dec 31, 25 | $117M | −$19.1M | −$25.1M | $20.5M | $4.7M | — | $2.4M | $2K |
| Q1 '26 · Mar 31, 26 | $128M | −$24.1M | −$20.7M | $16.5M | $4.7M | — | $2.4M | $35.7M |
| Q2 '26 · Jun 30, 26 | $110M | −$18.1M | −$32.7M | $27.8M | $4.7M | — | $2.5M | −$278K |
| Q3 '26 · Sep 30, 26 | $78.6M | −$26.7M | −$25.4M | $21.1M | $4.7M | — | $2.7M | −$5.0M |
Source: SEC EDGAR XBRL company facts, latest filed value for each period. Fourth quarters are derived from annual less nine-month figures; quarterly cash flows are derived from year-to-date amounts. Not investment advice. If a figure disagrees with the filing, the filing is right.