$ABOS
Acumen Pharmaceuticals, Inc.

2023 Q3 Form 10-Q Financial Statement

#000157688523000050 Filed on August 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.860M $4.345M
YoY Change 58.72% 40.61%
% of Gross Profit
Research & Development $11.18M $9.133M
YoY Change 34.54% 24.75%
% of Gross Profit
Depreciation & Amortization $10.00K $15.00K
YoY Change 0.0% 150.0%
% of Gross Profit
Operating Expenses $16.04M $13.48M
YoY Change 41.05% 29.46%
Operating Profit -$16.04M -$13.48M
YoY Change 41.05% 29.46%
Interest Expense $3.124M $1.884M
YoY Change 371.19% 624.62%
% of Operating Profit
Other Income/Expense, Net $3.082M $1.868M
YoY Change 366.26% 618.46%
Pretax Income -$12.96M -$11.61M
YoY Change 21.01% 14.37%
Income Tax
% Of Pretax Income
Net Earnings -$12.96M -$11.61M
YoY Change 20.98% 14.37%
Net Earnings / Revenue
Basic Earnings Per Share -$0.24 -$0.28
Diluted Earnings Per Share -$0.24 -$0.28
COMMON SHARES
Basic Shares Outstanding 57.87M shares 41.03M shares
Diluted Shares Outstanding 54.23M shares 41.03M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $215.4M $144.9M
YoY Change 7.61% -23.71%
Cash & Equivalents $94.92M $77.25M
Short-Term Investments $120.5M $67.63M
Other Short-Term Assets $181.0K $208.0K
YoY Change -92.35% -81.79%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $218.6M $149.5M
YoY Change 7.92% -21.73%
LONG-TERM ASSETS
Property, Plant & Equipment $123.0K $136.0K
YoY Change -13.38% 20.35%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $67.30M $27.31M
YoY Change 36.55%
Other Assets $189.0K $208.0K
YoY Change 105.43% 96.23%
Total Long-Term Assets $67.77M $27.87M
YoY Change 9526.85% 35.11%
TOTAL ASSETS
Total Short-Term Assets $218.6M $149.5M
Total Long-Term Assets $67.77M $27.87M
Total Assets $286.4M $177.4M
YoY Change 40.89% -16.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.362M $2.026M
YoY Change -34.64% 18.48%
Accrued Expenses $3.168M $2.374M
YoY Change -29.47% -28.56%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.098M $8.531M
YoY Change -7.79% 66.17%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.098M $8.531M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $6.098M $8.531M
YoY Change -7.79% 65.36%
SHAREHOLDERS EQUITY
Retained Earnings -$206.3M -$193.3M
YoY Change 30.9% 31.59%
Common Stock $6.000K $4.000K
YoY Change 50.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $280.3M $168.9M
YoY Change
Total Liabilities & Shareholders Equity $286.4M $177.4M
YoY Change 40.89% -16.19%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$12.96M -$11.61M
YoY Change 20.98% 14.37%
Depreciation, Depletion And Amortization $10.00K $15.00K
YoY Change 0.0% 150.0%
Cash From Operating Activities -$12.90M -$11.67M
YoY Change 40.48% 80.43%
INVESTING ACTIVITIES
Capital Expenditures $10.00K $0.00
YoY Change -112.35% -100.0%
Acquisitions
YoY Change
Other Investing Activities -$92.00M $11.06M
YoY Change -264.29% 25.43%
Cash From Investing Activities -$92.00M $11.06M
YoY Change -264.52% 25.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 122.8M -145.0K
YoY Change -46780.61% 935.71%
NET CHANGE
Cash From Operating Activities -12.90M -11.67M
Cash From Investing Activities -92.00M 11.06M
Cash From Financing Activities 122.8M -145.0K
Net Change In Cash 17.87M -751.0K
YoY Change -61.55% -132.61%
FREE CASH FLOW
Cash From Operating Activities -$12.90M -$11.67M
Capital Expenditures $10.00K $0.00
Free Cash Flow -$12.91M -$11.67M
YoY Change 41.84% 81.44%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
77248000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
130101000 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
136000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
165000 usd
CY2023Q2 abos Deferred Offering Costs Noncurrent
DeferredOfferingCostsNoncurrent
183000 usd
CY2022Q4 abos Deferred Offering Costs Noncurrent
DeferredOfferingCostsNoncurrent
0 usd
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.56
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.56
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.48
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.48
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41025062 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41025062 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40485244 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40485244 shares
CY2023Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-122000 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1521000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-11610000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
168874000 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
216089000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-151000 usd
CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
17000 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
715000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-10151000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
206519000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
188775000 usd
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
105000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2911000 usd
us-gaap Net Income Loss
NetIncomeLoss
-22917000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
168874000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
225183000 usd
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
17000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1333000 usd
us-gaap Net Income Loss
NetIncomeLoss
-19280000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
206519000 usd
us-gaap Net Income Loss
NetIncomeLoss
-22917000 usd
us-gaap Net Income Loss
NetIncomeLoss
-19280000 usd
us-gaap Depreciation
Depreciation
29000 usd
us-gaap Depreciation
Depreciation
10000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
2911000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
1333000 usd
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
634000 usd
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-384000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
76000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
66000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1933000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-3282000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
57000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
92000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
384000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
580000 usd
abos Increase Decrease In Accrued Clinical Trial Expenses
IncreaseDecreaseInAccruedClinicalTrialExpenses
1385000 usd
abos Increase Decrease In Accrued Clinical Trial Expenses
IncreaseDecreaseInAccruedClinicalTrialExpenses
448000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-76000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-66000 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-1013000 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-1432000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-21845000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-14767000 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
52131000 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
12129000 usd
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
21268000 usd
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
15860000 usd
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
0 usd
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
45000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-30863000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
3686000 usd
abos Payments For Deferred Offering Costs
PaymentsForDeferredOfferingCosts
145000 usd
abos Payments For Deferred Offering Costs
PaymentsForDeferredOfferingCosts
31000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
17000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-145000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-14000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-52853000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-11095000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
130101000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
122162000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
77248000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
111067000 usd
abos Deferred Offering Costs Noncash
DeferredOfferingCostsNoncash
36000 usd
abos Deferred Offering Costs Noncash
DeferredOfferingCostsNoncash
207000 usd
abos Deferred Offering Costs Noncash1
DeferredOfferingCostsNoncash1
2000 usd
abos Deferred Offering Costs Noncash1
DeferredOfferingCostsNoncash1
0 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
233000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
42000 usd
us-gaap Nature Of Operations
NatureOfOperations
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS <div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Acumen Pharmaceuticals, Inc. (“Acumen” or the “Company”) was incorporated in 1996 in the state of Delaware. Acumen is a clinical-stage biopharmaceutical company developing a novel disease-modifying approach to target what the Company believes to be a key underlying cause of Alzheimer’s disease (“AD”). Alzheimer’s disease is a progressive neurodegenerative disease of the brain that leads to loss of memory and cognitive functions and ultimately results in death. The Company’s scientific founders pioneered research on soluble amyloid-beta oligomers (“AßOs”), which are globular assemblies of the amyloid-beta (“Aß”) peptide that are distinct from Aß monomers and amyloid plaques. Based on decades of research and supporting evidence, AßOs have gained increasing scientific acceptance as primary toxins involved in the initiation and propagation of AD pathology. The Company is currently focused on advancing a targeted immunotherapy drug candidate, ACU193, through clinical development following Phase 1 results in “early AD” patients (patients with mild cognitive impairment or mild dementia due to Alzheimer’s pathology) that were announced in July 2023. ACU193 is a recombinant humanized immunoglobulin gamma 2 (“IgG2”) monoclonal antibody (“mAb”) that was designed to selectively target AßOs, has demonstrated functional and protective effects in in vitro assays, and has demonstrated in vivo safety and pharmacologic activity in multiple animal species, including transgenic mouse models for AD. </span></div><div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is subject to the uncertainty of whether the Company’s intellectual property will develop into successful commercial products. </span></div><div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Public Offering</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 21, 2023, the Company issued 16,774,193 shares of its common stock, $0.0001 par value per share (“Common Stock”), in a public offering (the “Offering”) at a price to the public of $7.75 per share. The aggregate estimated net proceeds from the Offering, after underwriting discounts and commissions and other offering expenses are $122.2 million. In addition, the Company granted the underwriters an option to purchase up to an additional 2,516,128 shares of Common Stock at the public offering price less underwriting discounts and commissions, which the underwriters have until August 17, 2023 to exercise.</span></div><div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Liquidity and Capital Resources </span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has incurred operating losses since inception and expects to continue to incur significant operating losses for the foreseeable future and may never become profitable. As of June 30, 2023 and December 31, 2022, the Company had an accumulated deficit of $193.3 million and $170.4 million, respectively, and working capital of $141.0 million and $172.5 million, respectively. Management believes that the Company has sufficient cash to continue operating activities for beyond 12 months from issuance of these condensed financial statements. </span></div><div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Future capital requirements will depend upon many factors, including the timing and extent of spending on research and development and market acceptance of the Company’s products. The Company expects that it will need to obtain additional financing to complete clinical trials and launch and commercialize any product candidates for which it receives regulatory approval. Until such time, if ever, the Company can generate revenue sufficient to achieve profitability, the Company expects to finance its operations through a combination of equity offerings, debt financings, collaborations, strategic alliances and licensing arrangements. There can be no assurance that such financing will be available on terms acceptable to the Company, or at all. To the extent that the Company raises additional capital through the sale of equity or convertible debt securities, the ownership interest of its stockholders will be diluted, and the terms of these securities may include liquidation of other preferences that adversely affect the rights of common stockholders. Debt financing and preferred equity financing, if available, may involve agreements that include covenants limiting or restricting the Company’s ability to take specific actions, such as incurring additional debt, making acquisitions or capital expenditures or declaring dividends. If the Company is unable to maintain sufficient financial resources, its business, financial condition and results of operations will be materially and adversely affected. The Company may be required to delay, limit, reduce or terminate its product discovery and development activities or future commercialization efforts. </span></div><div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company initiated a Phase 1 clinical trial of ACU193 in the second quarter of 2021, which the Company named “INTERCEPT-AD.” This trial enrolled 65 patients with “early AD.” INTERCEPT-AD is a U.S.-based, multi-center, randomized, double-blind, placebo-controlled clinical trial with overlapping single ascending dose and multiple ascending dose cohorts evaluating patients with early AD. Topline results were announced in July 2023.</span></div>
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-193300000 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-170400000 usd
CY2023Q2 abos Working Capital
WorkingCapital
141000000 usd
CY2022Q4 abos Working Capital
WorkingCapital
172500000 usd
CY2023Q2 abos Number Of Patients Enrolled In Trial
NumberOfPatientsEnrolledInTrial
65 patient
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates </span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements, as well as the reported amounts of expenses during the reporting periods. These estimates and assumptions are based on the Company’s historical experience, and on various other factors that management believes are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. </span></div>Actual results may differ from these estimates under different assumptions or conditions. To the extent there are material differences between the estimates and actual results, the Company’s future results of operations will be affected.
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
Reclassifications Certain prior year amounts have been reclassified for consistency with the current period presentation. Accrued clinical trial expenses are presented as a separate line on the statements of cash flows, whereas these accrued expenses were previously included in accrued expenses and other current liabilities. This reclassification had no effect on the reported results of operations.
CY2023Q2 us-gaap Debt Securities Available For Sale Amortized Cost Current
DebtSecuritiesAvailableForSaleAmortizedCostCurrent
68021000 usd
CY2023Q2 abos Debt Securities Available For Sale Accumulated Gross Unrealized Gain Before Tax Current
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainBeforeTaxCurrent
0 usd
CY2023Q2 abos Debt Securities Available For Sale Accumulated Gross Unrealized Loss Before Tax Current
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedLossBeforeTaxCurrent
388000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
67633000 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Amortized Cost Noncurrent
DebtSecuritiesAvailableForSaleAmortizedCostNoncurrent
27569000 usd
CY2023Q2 abos Debt Securities Available For Sale Accumulated Gross Unrealized Gain Before Tax Noncurrent
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainBeforeTaxNoncurrent
0 usd
CY2023Q2 abos Debt Securities Available For Sale Accumulated Gross Unrealized Loss Before Tax Noncurrent
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedLossBeforeTaxNoncurrent
258000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
27311000 usd
CY2023Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
95590000 usd
CY2023Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 usd
CY2023Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
646000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
94944000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Current
DebtSecuritiesAvailableForSaleAmortizedCostCurrent
48212000 usd
CY2022Q4 abos Debt Securities Available For Sale Accumulated Gross Unrealized Gain Before Tax Current
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainBeforeTaxCurrent
0 usd
CY2022Q4 abos Debt Securities Available For Sale Accumulated Gross Unrealized Loss Before Tax Current
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedLossBeforeTaxCurrent
708000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
47504000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Noncurrent
DebtSecuritiesAvailableForSaleAmortizedCostNoncurrent
15880000 usd
CY2022Q4 abos Debt Securities Available For Sale Accumulated Gross Unrealized Gain Before Tax Noncurrent
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainBeforeTaxNoncurrent
0 usd
CY2022Q4 abos Debt Securities Available For Sale Accumulated Gross Unrealized Loss Before Tax Noncurrent
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedLossBeforeTaxNoncurrent
43000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
15837000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
64092000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
751000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
63341000 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
73472000 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
475000 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
20492000 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
171000 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
93964000 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
646000 usd
abos Debt Securities Available For Sale Noncurrent Term
DebtSecuritiesAvailableForSaleNoncurrentTerm
P2Y
CY2023Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
170367000 usd
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
192441000 usd
CY2023Q2 abos Prepaid Raw Materials Current
PrepaidRawMaterialsCurrent
2678000 usd
CY2022Q4 abos Prepaid Raw Materials Current
PrepaidRawMaterialsCurrent
199000 usd
CY2023Q2 abos Research And Development Service Agreements Current
ResearchAndDevelopmentServiceAgreementsCurrent
1509000 usd
CY2022Q4 abos Research And Development Service Agreements Current
ResearchAndDevelopmentServiceAgreementsCurrent
1077000 usd
CY2023Q2 abos Dues And Subscriptions Current
DuesAndSubscriptionsCurrent
227000 usd
CY2022Q4 abos Dues And Subscriptions Current
DuesAndSubscriptionsCurrent
105000 usd
CY2023Q2 abos Prepaid Insurance Current
PrepaidInsuranceCurrent
35000 usd
CY2022Q4 abos Prepaid Insurance Current
PrepaidInsuranceCurrent
1106000 usd
CY2023Q2 us-gaap Other Assets Current
OtherAssetsCurrent
208000 usd
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
237000 usd
CY2023Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4657000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2724000 usd
CY2023Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1365000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2008000 usd
CY2023Q2 abos Research And Development Liability Current
ResearchAndDevelopmentLiabilityCurrent
904000 usd
CY2022Q4 abos Research And Development Liability Current
ResearchAndDevelopmentLiabilityCurrent
1211000 usd
CY2023Q2 abos Legal Liability Current
LegalLiabilityCurrent
85000 usd
CY2022Q4 abos Legal Liability Current
LegalLiabilityCurrent
0 usd
CY2023Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
20000 usd
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
131000 usd
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2374000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3350000 usd
CY2023Q2 abos Common Stock And Preferred Stock Shares Authorized
CommonStockAndPreferredStockSharesAuthorized
310000000 shares
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2023Q2 abos Common Stock Number Of Voting Rights
CommonStockNumberOfVotingRights
1 votingright
CY2022Q3 abos Sale Of Stock Commission Rate To Sales Agents
SaleOfStockCommissionRateToSalesAgents
0.030
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1521000 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
715000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2911000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1333000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.46
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.58
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5610893 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.36
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1793600 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.90
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
12000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.23
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
2104 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
22.39
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7390389 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.97
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y1M6D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
12580000 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
3285716 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
2.80
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P7Y2M12D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
8819000 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7718889 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5228037 shares

Files In Submission

Name View Source Status
0001576885-23-000050-index-headers.html Edgar Link pending
0001576885-23-000050-index.html Edgar Link pending
0001576885-23-000050.txt Edgar Link pending
0001576885-23-000050-xbrl.zip Edgar Link pending
abos-20230630.htm Edgar Link pending
abos-20230630.xsd Edgar Link pending
abos-20230630x10qxexx311.htm Edgar Link pending
abos-20230630x10qxexx312.htm Edgar Link pending
abos-20230630x10qxexx321.htm Edgar Link pending
abos-20230630x10qxexx322.htm Edgar Link pending
active_137716350x1xabosx.htm Edgar Link pending
active_137716350x1xabosx001.jpg Edgar Link pending
active_137716350x1xabosx002.jpg Edgar Link pending
active_137716350x1xabosx003.jpg Edgar Link pending
active_137716350x1xabosx004.jpg Edgar Link pending
active_137716350x1xabosx005.jpg Edgar Link pending
active_137716350x1xabosx006.jpg Edgar Link pending
active_137716350x1xabosx007.jpg Edgar Link pending
active_137716350x1xabosx008.jpg Edgar Link pending
active_137716350x1xabosx009.jpg Edgar Link pending
active_137716350x1xabosx010.jpg Edgar Link pending
active_137716350x1xabosx011.jpg Edgar Link pending
active_137716350x1xabosx012.jpg Edgar Link pending
active_137716350x1xabosx013.jpg Edgar Link pending
active_137716350x1xabosx014.jpg Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
abos-20230630_def.xml Edgar Link unprocessable
abos-20230630_lab.xml Edgar Link unprocessable
abos-20230630_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
abos-20230630_htm.xml Edgar Link completed
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
abos-20230630_cal.xml Edgar Link unprocessable