We rate Acumen as High Risk based on the usual volatility of biotech stocks and uncertainty/risk related to clinical trials, late-stage drug development, and regulatory decisions.  

We acknowledge multiple risks to our investment thesis and TP. On the upside, we note: 1) strong commercial launch of sabirnetug upon approval, 2) better than expected clinical trial results. On the downside, we note: 1) commercial competition for AD, and 2) clinical trial failures.