Analyst Summary:
ProMIS Neurosciences has announced its full-year 2022 financial results and key developments on its latest projects. The company is focused on developing antibody therapeutics targeting toxic misfolded proteins in neurodegenerative diseases such as Alzheimer’s disease, amyotrophic lateral sclerosis, and multiple system atrophy. Its lead compound, PMN310, is a novel monoclonal antibody that is highly selective for toxic oligomers of amyloid-beta, believed to be a major driver of Alzheimer’s disease. The company plans to file its IND for PMN310 within the next 60 days and anticipates enrolling the first subject in a Phase 1a trial in the first half of 2023. ProMIS is also working to advance two discovery programs, PMN267 and PMN442, towards IND readiness, and advancing its amyloid vaccine for Alzheimer’s disease. ProMIS’s unique discovery engine, based on the use of two complementary techniques, is developing novel antibody therapeutics for various neurodegenerative diseases. The company has offices in Toronto, Ontario, and Cambridge, Massachusetts, and is listed on the Nasdaq and the Toronto Stock Exchange under the symbol PMN.
Quotes: “This year looks to be a pivotal one for ProMIS as we continue our plans to advance PMN310…” – Gail Farfel, Ph.D., Chief Executive Officer.
Forward-Looking Statements: The press release contains forward-looking information regarding the development of ProMIS’s products, their efficacy, and market potential. Investors should be aware that the forward-looking information is subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause actual results to differ materially from those expressed or implied in the press release. Investors are advised to carefully consider the risks discussed throughout the “Risk Factors” section of the Company's most recent filings with SEDAR and the Securities and Exchange Commission. The company undertakes no obligation to publicly update any forward-looking information, whether written or oral, that may be made from time to time.