Acumen Pharmaceuticals

Year‑end 2025 cash and marketable securities were $116.9m, complemented by a March 2026 $35.75m private placement, against $31.6m of K2 HealthVentures term debt (effective interest ~14%).

Management guides runway into early 2027, but the 2025 10‑K includes a going‑concern paragraph and TTM operating cash burn was about $(115.5)m, implying likely future capital raises and/or partnership funding. Net cash is modest for the burn rate, and the company maintains an S‑3 shelf/ATM capacity, reinforcing dilution risk.