ProMIS Neurosciences Inc.

ProMIS Neurosciences, Inc. is a development stage biotechnology company focused on discovering and developing antibody therapeutics selectively targeting toxic misfolded proteins implicated in the development and progression of neurodegenerative diseases, in particular Alzheimer’s disease (AD), amyotrophic lateral sclerosis (ALS) and Parkinson’s disease (PD). The Company’s proprietary target discovery engine is based on the use of two complementary computational modeling techniques. The Company applies its molecular dynamics, computational discovery platform -ProMIS™ and Collective Coordinates - to predict novel targets known as Disease Specific Epitopes on the molecular surface of misfolded proteins. ProMIS is headquartered in Toronto, Ontario, with offices in Cambridge, Massachusetts.

Expert Comments:

headshot of Douglas Loe

Douglas Loe, Leede Jones Gable

"We are optimistic that ProMIS Neurosciences Inc.'s lead Alzheimer's disease monoclonal antibody PMN-310 could exhibit minimal amyloid related imaging abnormalities-E due to minimal plaque binding. . .that said, Eisai's pending U.S. Food & Drug Administration regulatory review will be key to influencing regulatory risk for beta-amyloid-targeted biologics as a category, of which PMN-310 is one. We expect ProMIS to commence formal Phase 1 testing later this year."

Douglas Loe, Leede Jones Gable

"With the 15th Annual Clinical Trials on Alzheimer's Disease (CTAD) conference now underway, key findings from peers investigating the use of disease modifying therapies targeting amyloid beta are relevant to ProMIS Neurosciences Inc. Regarding Eisai/Biogen's lecanemab, formal data were published in the New England Journal of Medicine and presented at CTAD though preceding data were shadowed by a second patient death. . .Eli Lilly provided an update on the active comparator trial, demonstrating benefit for its donanemab against Aduhelm (currently the only monoclonal antibody approved for Alzheimer's disease)."

Steve Silver, Argus Research

"ProMIS Neurosciences Inc.'s management expects to file a new drug application for PMN310 with the U.S. Food and Drug Administration by 2022E and to begin a Phase 1b clinical study in Alzheimer's disease patients in early 2023. . .importantly, the Phase 1b study will be an open-label, ascending-dose design and should provide monthly biomarker evidence that confirms both target engagement and product safety."

Clive Maund,

"ProMIS Neurosciences Inc. has a positive fundamental story, and the charts for its stock look most encouraging. . .with the price still close to the lows of this base pattern, this is a good time to buy the stock. . .it is therefore liked here and rated an Immediate Buy."

headshot of Douglas Loe

Douglas Loe, Leede Jones Gable

"ProMIS Neurosciences Inc.'s Japan-based drug development peer, Eisai, reported positive Phase 3 Alzheimer's disease (AD) data that demonstrated statistically significant slowing of cognitive decline, which was apparent at time points as early as six months. . .it is clear that amyloid has been resurrected as a druggable target in AD pharmacology, and we believe that the protofibril selectivity of lecanemab's pharmacology was key to seeing a clear cognition signal in Clarity AD that prior amyloid-targeted monoclonal antibodies (for which degenerate binding to amyloid monomers and/or plaques) could not reveal."

Douglas Loe, Leede Jones Gable

"We remain positive about the role that ProMIS Neurosciences Inc.'s PMN-310 could play in mitigating Alzheimer's disease progression through its documented amyloid-oligomer-specific binding, and we are thus encouraged that a related monoclonal antibody that also targets an amyloid oligomer form has not solidly demonstrated clinical efficacy on mitigating cognitive impairment in a large and well-controlled Phase 3 study. We believe that Clarity AD/lecanemeb data thus provide supporting evidence for our PMN-310-based investment thesis for ProMIS and for the role of oligomers/protofibrils in AD pathophysiology."

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More Expert Comments

Experts Following This Company

headshot of Douglas Loe
Douglas Loe, Managing Director & Analyst, Healthcare and Biotechnology – Leede Jones Gable
Clive Maund –
Steve Silver, Outside IR – KCSA Strategic Communications
John Vandermosten, CFA – Zacks Small-Cap Research

Company News 

11/14/2022 – ProMIS Neurosciences Announces Third Quarter 2022 Financial Results and Recent Highlights

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Investing Highlights
Alzheimer’s antibody therapy potentially “Best” of next generation
Highly selective antibody technology targets only misfolded (toxic) proteins
Proprietary discovery platform supports broad, rapidly expanding portfolio
catalyst Calendar
Start IND enabling studies for Parkinson’s and ALS lead candidates: H2 2022
PMN310 for Alzheimer’s: IND preparation complete Q4’2022
First clinical trial Q12023