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Wednesday, December 18, 2019
ProMIS Neurosciences Inc. (PMN:CA)
What Does Biogen’s Progress Mean for ProMIS?
ProMIS Neurosciences, Inc., a development stage biotech company, discovers and develops precision medicine therapeutics for the treatment of neurodegenerative diseases, primarily Alzheimer’s disease (AD) and amyotrophic lateral sclerosis (ALS). Its proprietary target discovery engine is based on the use of two complementary techniques. The company applies its thermodynamic, computational discovery platform—ProMIS and Collective Coordinates to predict novel targets known as Disease Specific Epitopes (DSEs) on the molecular surface of misfolded proteins. Its lead product candidates include PMN310, a monoclonal antibody for AD; PMN350, a monoclonal antibody for AD; and PMN330, a monoclonal antibody targeting toxic prionlike forms of AßO for AD. The company is also developing prospect therapies targeting the neurotoxic form of the tau protein in AD; and superoxide dismutase 1 and TAR-DNA binding protein 43 in ALS and frontotemporal dementia, as well as alpha synuclein in Parkinson’s disease and Lewy body dementia. The company was formerly known as Amorfix Life Sciences Ltd. and changed its name to ProMIS Neurosciences, Inc. in July 2015. ProMIS Neurosciences, Inc. was incorporated in 2004 and is headquartered in Toronto, Canada.
Cosme Ordonez, MD, Ph.D., Senior Life Sciences Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
ProMIS issues White Paper. ProMIS Neurosciences issued a white paper discussing data released by Biogen (a competitor in the field) from two Phase III clinical trials on the use of aducanumab for the treatment of Alzheimer’s disease.
Impact of Biogen’s recent developments. Going into the new year, all eyes will be on Biogen, which is the leader competitor in Alzheimer’s. In a recent reversal of fortunes, Biogen’s management has revived its Alzheimer’s program. Based on recent data, Biogen now plans to file for FDA approval of aducanumab early next year. We believe Biogen’s progress will have a positive impact on ProMIS’s…
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
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