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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 : Aducanumab is good; next generation Alzheimer's disease therapies will be better

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12/05/2019 | 12:50pm EST

TORONTO and CAMBRIDGE, Mass., Dec. 05, 2019 (GLOBE NEWSWIRE) -- 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, commends Biogen for its trailblazing efforts to advance aducanumab. Data released today at CTAD (Clinical Trials on Alzheimer’s Disease conference) strengthen aducanumab’s potential to become the first disease-modifying therapy for Alzheimer’s disease. The data clearly underscore the need for next-generation drug candidates that offer more precise binding to the misfolded beta amyloid oligomer (AßO), the toxic species of the amyloid beta protein and root cause of Alzheimer’s disease.

“Today’s presentation reflects yet another landmark step toward the approval of a disease-modifying therapy for Alzheimer’s disease, which, we must remember, is currently the only top-ten cause of death without treatment,” said ProMIS Neurosciences Chief Medical Officer James Kupiec, MD. “The aducanumab data is indeed good news, but the compound has limitations. History frequently shows that first-generation therapies for the most challenging diseases often have major efficacy or safety limitations.  In heart disease, cancer and HIV, first-generation efforts often paved the way for better, safer medicines, and the same will be true for Alzheimer’s disease by more precisely targeting only the toxic species of amyloid beta and thereby avoiding the dose-limiting side effects associated with unwanted off-target binding. We will get there.  Biomarkers will help us get there faster, but aducanumab is a tremendous first step.”

New data for aducanumab affirm a statistically significant reduction in cognitive and functional decline for participants in the EMERGE trial. As clinical benefit depends on the amount of antibody that can reach the pathogenic species of amyloid beta, data continue to show that aducanumab demonstrates limited selectivity for AßOs: off-target binding to amyloid plaque was associated with adverse and dose-limiting ARIA-E (brain swelling) in 35% of trial participants despite attempts to minimize it by titrating drug dosing.

PMN310 is a next generation drug candidate that offers more precise selectivity for AßOs, which is expected to provide greater clinical benefit and safety based upon current preclinical data. Created using a novel drug discovery and development platform that can uniquely and precisely target the toxic forms of otherwise normal proteins, PMN310 demonstrates a high degree of binding to toxic oligomers without binding to non-toxic forms of amyloid beta. Data also demonstrate PMN310’s greater therapeutic potency versus other Aß-directed antibodies. For more information about PMN310, please visit www.promisneurosciences.com.

To learn more about the search for therapies for Alzheimer’s, Parkinson’s and other neurodegenerative diseases, listen to Saving Minds, at iTunes or Spotify.

About ProMIS Neurosciences
ProMIS Neurosciences, Inc. is a development stage biotechnology company focused on discovering and developing antibody therapeutics selectively targeting toxic oligomers 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 platform is based on the use of two complementary thermodynamic, computational discovery engines – ProMIS and Collective Coordinates – to predict novel targets known as Disease Specific Epitopes on the molecular surface of misfolded proteins. Using this unique precision approach, the Company is developing novel antibody therapeutics for AD, ALS and PD. 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.

Visit us at www.promisneurosciences.com, follow us on Twitter and LinkedIn

For media inquiries, please contact:
Shanti Skiffington
shanti.skiffington@gmail.com
Tel. 617 921-0808

For Investor Relations please contact:
Alpine Equity Advisors
Nicholas Rigopulos, President
nick@alpineequityadv.com
Tel. 617 901-0785

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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.

ProMIS.jpg

Source: ProMIS Neurosciences Inc.

2019 GlobeNewswire, Inc., source Press Releases

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Financials (CAD)
Sales 2019 -
EBIT 2019 -10,5 M
Net income 2019 -10,5 M
Debt 2019 -
Yield 2019 -
P/E ratio 2019 -4,65x
P/E ratio 2020 -3,10x
Capi. / Sales2019 infx
Capi. / Sales2020 infx
Capitalization 52,2 M
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Mean consensus HOLD
Number of Analysts 2
Average target price 2,46  $
Last Close Price 0,14  $
Spread / Highest target 2 882%
Spread / Average Target 1 662%
Spread / Lowest Target 442%
EPS Revisions
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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