ProMIS Neurosciences (US:PMN)2025-11-12 12:05Financial Performance - Loss from operations for Q3 2025 was $11.8 million, compared to an operating loss of $4.4 million in Q3 2024, reflecting increased expenditures on clinical trials[11] - The net loss for Q3 2025 was $(11,580,126), contrasting with a net income of $9,275,825 in Q3 2024, indicating a shift of $20,855,951[17] - The total net loss for the nine months ended September 30, 2025, was $(29,045,059), compared to a net income of $3,017,080 for the same period in 2024[17] - The net loss per share, basic, for Q3 2025 was $(0.24), compared to a net income per share of $0.31 in Q3 2024[17] Research and Development - Research and development expenses for Q3 2025 were $9.8 million, a significant increase from $2.6 million in Q3 2024, primarily due to costs associated with the PRECISE-AD Phase 1b clinical trial for PMN310[11] - Research and development expenses for Q3 2025 reached $9,797,418, a significant increase from $2,563,774 in Q3 2024, representing a growth of 283%[17] Assets and Liabilities - Total current assets increased to $21.5 million as of September 30, 2025, compared to $18.9 million as of December 31, 2024[15] - Total liabilities rose to $12.3 million as of September 30, 2025, up from $2.4 million at the end of 2024, primarily due to increased accounts payable and accrued liabilities[15] - The accumulated deficit increased to $119.7 million as of September 30, 2025, compared to $90.7 million as of December 31, 2024[15] Clinical Trials and Product Development - PMN310, the lead candidate for Alzheimer's disease, is over 85% enrolled in the Phase 1b trial, with complete enrollment expected by the end of 2025[1] - The independent Data and Safety Monitoring Board recommended advancing to the third and final dose escalation cohort for PMN310 in the PRECISE-AD trial[5] - PMN310 has been granted Fast Track Designation by the U.S. FDA, indicating its potential to address significant unmet medical needs in Alzheimer's disease[3] - ProMIS is preparing for multiple key anticipated inflection points in 2026, including the reporting of interim data in Q2 2026 and final results in Q4 2026 for PMN310[2] Operating Expenses - Total operating expenses for Q3 2025 were $11,750,432, compared to $4,434,677 in Q3 2024, marking an increase of 165%[17] - General and administrative expenses for Q3 2025 were $1,953,014, slightly higher than $1,870,903 in Q3 2024, showing an increase of 4.4%[17] Shareholder Information - The weighted-average outstanding common shares, basic, increased to 48,833,799 in Q3 2025 from 30,023,675 in Q3 2024, an increase of 62%[17] Other Income - Total other income for Q3 2025 was $170,306, a decrease from $13,710,502 in Q3 2024, reflecting a decline of 98.76%[17]