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Life Sciences Co. Expected to Attract Partners, Big Pharma
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"We foresee continued execution on its developmental strategy," noted Argus Research on this development stage biotech company tackling neurodegenerative diseases.

ProMIS Neurosciences Inc. (PMN:TSX; ARFXF:OTCQB) is well positioned financially, is following a favorable path toward clinical value inflection and has competitive advantages in the marketplace, reported Argus Research analyst Steve Silver in an April 13 research note. As such, the independent research investment firm just commenced equity report coverage on the biotech firm.

"We see ProMIS as well positioned to attract increased attention and interest from key stakeholders over the coming quarters." 
— Argus Research Analyst, Steve Silver 





ProMIS is advancing its pipeline of candidates for neurodegenerative diseases, including Alzheimer's disease, Parkinson's disease, amyotrophic lateral sclerosis and multiple system atrophy. Therapeutic candidates are proprietary antibodies selective for toxic oligomers that result from misfolded proteins.

"ProMIS' antibody capabilities are well positioned to remain at the forefront of research in the neurodegenerative disease space," wrote Silver, despite the recent introduction into the space of other technologies, such as RNAi interference and gene therapy.

Looking to 2022, Silver highlighted that as of Dec. 31, 2021, ProMIS had CA$21.5 million (CA$21.5M) in cash, cash equivalents and short-term investments (versus CA$1.1M at year-end 2020). This is sufficient to support operations through this year and next.

"We foresee continued execution on its developmental strategy, combined with the potential to uplist its stock on NASDAQ, which would introduce the company to a new class of investors and expand its access to capital," Silver wrote.

Regarding ProMIS' lead candidate, PMN310, for Alzheimer's disease, the company recently announced positive preclinical results in a mouse model. In the study, PMN310 prevented a cognitive deficit as measured by performance of a specific task. The biotech is on track to launch a Phase 1b human clinical study of PMN310 in Alzheimer's disease in early 2023.

Silver purported that investors and big pharma will again become interested in the neurodegenerative disease space if the 2022 data readout of Eisai's Phase 3 trial of lecanemab, "which has a similar thesis to ProMIS," is positive. This would be good news for ProMIS, given that PMN310 represents a potential best-in-class opportunity in this market characterized by unmet needs, few drug approvals, no approved drugs tackling the cause of disease, and therapeutic failures.

Longer term, Argus expects ProMIS to partner with big pharma on select product candidates and retain others in-house, Silver wrote.

"We see ProMIS as well positioned to attract increased attention and interest from key stakeholders over the coming quarters," added Silver.

The analyst pointed out the factors that differentiate ProMIS, its treatments, and its technologies.

For one, the company's antibodies are highly selective for toxic misfolded proteins, not the proteins' normal, physiological forms. The therapeutic platform can be applied to multiple degenerative diseases that have a protein misfolding pathogenesis in common.

In addition, the biotech has abundant and expanding intellectual property, including 47 patents and 67 patent applications.

ProMIS also benefits, Silver noted, from having some of the industry's leaders on its executive team and on its advisory board. These include Dr. Neil Cashman, a leading research scientist in the emerging fields of prion biology and protein misfolding, as ProMIS' chief scientific officer, and Dr. Rudolph Tanzi, professor of neurology at Harvard University and an expert in the field, as a ProMIS advisory board member.

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1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: ProMIS Neurosciences, Inc. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
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Disclosures for Argus Research Co., ProMIS Neurosciences, Inc., April 12, 2022

Argus Research Co. has received a flat fee from the company discussed in this report as part of an “Equity Report” agreement between Argus and the company. No part of Argus Research’s compensation is directly or indirectly related to the content of this assessment or to other opinions expressed in this report.

Argus Research provides a suite of Equity Report services including but not limited to initial reports with ongoing coverage and updates; distribution to Argus Research’s clients; a license to enable the company to proactively use and distribute the report ; a press release announcing our initial coverage and updates; and optional access to the Vickers Research database.

The price for this suite of services generally ranges from $11,000 to $16,000 depending on the level of services selected. Argus Research receives no part of its compensation in the form of stock or other securities issued by the company discussed in this report, and has no long equity position or short sale position in the company’s stock. Argus Research is not involved in underwriting securities for the subject company, and will receive no proceeds or other financial benefit from any
securities offering by the company.

Argus Research; its officers, directors, and affiliates; and the author of this report have no financial interest in, or affiliation with, the subject firm. The report is disseminated primarily in electronic form and is made available at approximately the same time to all eligible recipients.

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