Don't Forget To
Rate This Article

Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe


Trial of New Alzheimer's Drug Slated for Early 2023
Research Report

Share on Stocktwits

The biotech behind this product candidate differentiates itself from competitors with its approach to developing selective antibody therapies, noted an Argus Research Co. report.

ProMIS Neurosciences Inc.'s (PMN:TSX; ARFXF:OTCQB) lead therapeutic candidate for Alzheimer's disease, PMN310, will be evaluated in a Phase 1b clinical trial in early 2023, Argus Research analyst Steve Silver reported in a June 27 report. PMN310 is a monoclonal antibody that binds with high affinity and selectivity to toxic oligomers of amyloid-beta, a recognized root cause of Alzheimer's disease.

"We estimate that more than 100 candidates for Alzheimer's disease are currently in the clinic and view PMN310 as potentially representing a best-in-class opportunity," Silver wrote.

The upcoming Phase 1b study, Silver relayed, will be open-label and dose ascending. Safety and efficacy will be assessed. The trial will be conducted at five to eight sites, allowing for quick enrollment.

To move forward with the Phase 1b study, ProMIS has been preparing to file an investigational new drug application for PMN310. As part of that, among other efforts, high-concentration formulations of the antibody, which can support subcutaneous dosing, are being developed. That work is expected to be finished soon.

ProMIS has a competitive edge with PMN310 and its scientific platform, Silver highlighted.

With the latter, the company can develop selective antibody therapies against toxic oligomers that result from misfolded proteins associated with the development and progression of certain neurodegenerative diseases.

"ProMIS' approach is validated and differentiated from other treatments and technologies in development due to its accuracy of computational modeling and artificial intelligence that enable the generation of therapeutic antibodies that are highly selective for toxic misfolded proteins and not their normal, physiological forms," Silver wrote.

"Importantly, the company’s platform can be applied across multiple degenerative diseases with a common protein misfolding pathogenesis, including Parkinson’s Disease (PD), Multiple System Atrophy (MSA), in addition to its more advanced efforts in Alzheimer’s and ALS," the analyst noted.

With a focus on neurodegenerative diseases, ProMIS "operates in an extremely attractive market that is among the largest areas of unmet needs across the entire biopharmaceutical industry," the analyst noted. "To date, neurodegenerative diseases have seen few novel drug approvals, and those approved have provided little more than symptom management or modestly slowed disease progression, rather than significantly impacting the underlying cause of the disease."

Silver noted that beyond PMN310, the biotech firm is developing PMN267 as its lead product candidate for the treatment of amyotrophic lateral sclerosis (ALS). Findings so far are encouraging, the analyst noted.

"To date, an intrabody version of PMN267, delivered inside cells via a gene therapy vector, has shown significant reductions in the amount of TDP-43 aggregates in human motor neurons derived from ALS patients, and an injectable antibody treatment has produced promising trends for protection against disability," Silver explained.

Looking forward, Silver expects ProMIS to continue executing its development strategy. Also, it may uplist its U.S. stock to the NASDAQ and capitalize on opportunities to partner with a large pharmaceutical company on any of its product candidates.

"Over the longer-term, we see its growing pipeline providing optionality for additional partnering activities. We think its product candidates as well as broad platform discovery capabilities are likely to attract the interest of a Big Pharma industry that is holding its highest level of cash and M&A capabilities in industry history," the analyst noted.

Want to be the first to know about interesting Biotechnology / Pharmaceuticals investment ideas? Sign up to receive the FREE Streetwise Reports' newsletter. Subscribe

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. 

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of ProMIS Neurosciences Inc., a company mentioned in this article.

6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

Argus Research Disclaimer

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.

The content of this report may be derived from Argus research reports, notes, or analyses. The opinions and information contained herein have been obtained or derived from sources believed to be reliable, but Argus makes no representation as to their timeliness, accuracy or completeness or for their fitness for any particular purpose. This report is not an offer to sell or a solicitation of an offer to buy any security. The information and material presented in this report are for general information only and do not specifically address individual investment objectives, financial situations or the particular needs of any specific person who may receive this report. Investing in any security or investment strategies discussed may not be suitable for you and it is recommended that you consult an independent investment advisor. Nothing in this report constitutes individual investment, legal or tax advice. Argus may issue or may have issued other reports that are inconsistent with or may reach different conclusions than those represented in this report, and all opinions are reflective of judgments made on the original date of publication. Argus is under no obligation to ensure that other reports are brought to the attention of any recipient of this report. Argus shall accept no liability for any loss arising from the use of this report, nor shall Argus treat all recipients of this report as customers simply by virtue of their receipt of this material. Investments involve risk and an investor may incur either profits or losses. Past performance should not be taken as an indication or guarantee of future performance.

Want to read more about Biotechnology / Pharmaceuticals investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe