Promis Neurosciences (NASDAQ:PMN) Announces Quarterly Earnings Results

Promis Neurosciences (NASDAQ:PMN) posted its quarterly earnings results on Thursday. The company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 PMN stock traded down $0.28 on Thursday, reaching $3.48. 118,790 shares of the stock were exchanged, compared to its average volume of 409,868. The business’s 50 day moving average price is $9.37 and its 200 day moving average price is $12.64. The company has a market capitalization of $31.22 million, a price-to-earnings ratio of -0.41 and a beta of -0.19. Promis Neurosciences has a twelve month low of $2.78 and a twelve month high of $27.40.

Insider Buying and Selling at Promis Neurosciences

In other Promis Neurosciences news, Director Eugene Williams purchased 26,500 shares of the firm’s stock in a transaction on Wednesday, November 4th. The stock was bought at an average cost of $3.43 per share, with a total value of $90,895.00. Following the acquisition, the director directly owned 40,213 shares of the company’s stock, valued at approximately $137,930.59. This represents a 193.25% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Neil Cashman purchased 10,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were acquired at an average cost of $3.86 per share, with a total value of $38,600.00. Following the completion of the acquisition, the insider directly owned 14,532 shares in the company, valued at $56,093.52. The trade was a 220.65% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 37,816 shares of company stock worth $134,746 in the last three months. 1.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.