Promis Neurosciences (NASDAQ:PMN) Posts Quarterly Earnings Results

Promis Neurosciences (NASDAQ:PMN) issued its earnings results on Thursday. The company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($1.28) by $0.39, FiscalAI reports.

Here are the key takeaways from Promis Neurosciences’ conference call:

• In the blinded six-month interim analysis of PRECISE-AD, ProMIS reported no ARIA-E cases, a 4.4% rate of mild, asymptomatic ARIA-H, and decreases in pooled plasma p-tau217 and CSF MTBR-tau243. The company cautioned that these findings are preliminary and do not establish efficacy.
• Patient visits in the 12-month, approximately 140-patient Phase Ib trial are expected to finish this quarter, with unblinded top-line results anticipated in Q1 2027. ProMIS said it will assess safety, clinical outcomes, biomarkers, and evidence of oligomer reduction; the company described directional clinical benefit alongside a better safety profile as a goal, not a proven result.
• ProMIS ended Q3 with approximately $44.1 million in cash and expects its runway to extend through 2027, beyond the anticipated trial readout. R&D spending fell 32% year over year to about $6.7 million as PRECISE-AD moved toward completion, while the quarterly net loss was $8.2 million.
• The company is preparing for a potential registration-quality study, developing a subcutaneous formulation, and plans to seek FDA feedback after analyzing the full trial results. Timing and study design remain contingent on the data and regulatory discussions.

Promis Neurosciences Trading Down 7.4%

Shares of NASDAQ:PMN traded down $0.28 on Thursday, reaching $3.48. The company had a trading volume of 118,790 shares, compared to its average volume of 409,868. Promis Neurosciences has a 52-week low of $2.78 and a 52-week high of $27.40. The firm’s 50 day simple moving average is $9.37 and its 200-day simple moving average is $12.64.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PMN shares. Chardan Capital set a $20.00 price target on Promis Neurosciences and gave the company a “buy” rating in a research note on Monday, July 27th. Guggenheim reiterated a “buy” rating and set a $69.00 target price (up from $35.00) on shares of Promis Neurosciences in a report on Tuesday, July 28th. Wall Street Zen upgraded shares of Promis Neurosciences from a “strong sell” rating to a “sell” rating in a report on Saturday, July 18th. Roth Capital cut their target price on shares of Promis Neurosciences to $15.00 and set a “buy” rating on the stock in a research report on Monday, November 2nd. Finally, Weiss Ratings upgraded shares of Promis Neurosciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, November 2nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.50.

Insider Buying and Selling at Promis Neurosciences

In related news, Director Eugene Williams acquired 26,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The shares were bought at an average price of $3.43 per share, with a total value of $90,895.00. Following the completion of the transaction, the director directly owned 40,213 shares in the company, valued at $137,930.59. This trade represents a 193.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Neil Cashman acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were bought at an average cost of $3.86 per share, for a total transaction of $38,600.00. Following the transaction, the insider owned 14,532 shares of the company’s stock, valued at $56,093.52. This represents a 220.65% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 37,816 shares of company stock valued at $134,746. Corporate insiders own 1.50% of the company’s stock.

About Promis Neurosciences

ProMIS Neurosciences Inc. (NASDAQ: PMN) is a clinical-stage biotechnology company developing precision medicines for neurodegenerative diseases. The company’s research focuses on misfolded proteins, which can form toxic structures associated with conditions such as Alzheimer’s disease, amyotrophic lateral sclerosis and other neurological disorders. ProMIS uses its proprietary target-discovery platform to identify disease-specific toxic protein conformations and develop antibodies intended to selectively bind and neutralize them while avoiding healthy forms of the same proteins.