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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  ProMIS Neurosciences, Inc.    PMN   CA74346M1095

PROMIS NEUROSCIENCES, INC.

(PMN)
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ProMIS Neurosciences : Chairman's Update details new programs from expanded use of novel technology platform

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05/21/2020 | 10:58am EDT

TORONTO - ProMIS Neurosciences, Inc. (TSX: PMN) (OTCQB: ARFXF), a biotechnology company focused on the discovery and development of antibody therapeutics targeting toxic oligomers implicated in the development of neurodegenerative diseases, has released a new Chairman's Update that details several new programs resulting from expanded use of its unique technology platform.

The company's portfolio of potentially valuable assets and intellectual property (IP) now includes opportunities for antibody and intrabody therapeutics, vaccines and diagnostics.

The new Chairman's Update and accompanying audio podcast describes the company's use of its best-in-class, novel technology platform, which can rapidly and cost-effectively identify unique sites (also called peptide antigens) displayed on complex protein structures and create specifically tailored antibody drugs, diagnostic tools and vaccines. This ability is critical to generating antibody candidates with selectivity for only the toxic forms of a protein, a characteristic that is common among ProMIS' pipeline of antibody candidates for Alzheimer's disease (AD), Parkinson's disease (PD) and amyotrophic lateral sclerosis (ALS). The Chairman's Update also details further application of its proprietary technology platform to identify peptide antigens that can support the creation of a highly specific and sensitive COVID-19 antibody test, in addition to potential diagnostics, vaccines and intracellular delivery of antibodies relating to neurodegenerative and other protein misfolding diseases.

'Our top priority since starting ProMIS has been, and continues to be, the PMN310 antibody for Alzheimer's', said ProMIS Neurosciences' Executive Chairman Eugene Williams, who authored the Chairman's Update. 'Our second highest priority has been developing and refining our unique technology platform, knowing that it could become (and now we believe it has become) a very rapid and cost-effective means to expand our portfolio of potentially valuable assets and intellectual property in multiple areas - antibody therapy, gene therapy, vaccines, and diagnostics. We believe we have created a 'best in class' product for Alzheimer's disease: PMN310. We also believe we have created a 'best in class' technology platform which is the key to unlocking value in antibody-related treatments and diagnostics.'

About ProMIS Neurosciences

ProMIS Neurosciences, Inc. is a development stage biotechnology company whose unique core technology is the ability to rationally predict the site and shape (conformation) of novel targets known as Disease Specific Epitopes on the molecular surface of proteins. Using this unique, precision approach, ProMIS is developing novel antibody therapeutics for AD, ALS and PD.

In the infectious disease setting, these disease-specific epitopes represent peptide antigens that can be used as an essential component to create accurate and sensitive serological assays to detect the presence of antibodies that arise in response to a specific infection, such as COVID-19. These peptide antigens can also be used to create potential therapeutic antibodies to treat active infection, as well as serve as the basis for development of vaccines. ProMIS is headquartered in Toronto, Ontario, with offices in Cambridge, Massachusetts. ProMIS is listed on the Toronto Stock Exchange under the symbol PMN, and on the OTCQB Venture Market under the symbol ARFXF.

Contact:

Shanti Skiffington

Tel: 617 921-0808

Email: shanti.skiffington@gmail.com

This information release contains certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company's current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2020 - - -
Net income 2020 -6,90 M -5,08 M -5,08 M
Net Debt 2020 - - -
P/E ratio 2020 -15,0x
Yield 2020 -
Capitalization 62,3 M 45,9 M 45,8 M
EV / Sales 2019
Capi. / Sales 2020 -
Nbr of Employees -
Free-Float 88,4%
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Mean consensus HOLD
Number of Analysts 2
Average target price 2,34 $
Last Close Price 0,21 $
Spread / Highest target 1 786%
Spread / Average Target 1 012%
Spread / Lowest Target 239%
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Managers
NameTitle
Elliot Goldstein President, Chief Executive Officer & Director
Eugene Williams Executive Chairman
Daniel E. Geffken Chief Financial Officer
Neil R. Cashman Director & Chief Scientific Officer
James Kupiec Chief Medical Officer
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