ProMIS Neurosciences (US:PMN)2026-03-25 12:06Financial Performance - ProMIS Neurosciences reported a net loss of $39.7 million for the year ended December 31, 2025, with cash reserves of $6.1 million[14]. - The company reported a net loss of $39,719,147 for 2025, compared to a net income of $2,778,873 in 2024, indicating a substantial decline in profitability[29]. - The total current assets decreased to $9,182,421 in 2025 from $18,911,456 in 2024, representing a decline of 51.5%[27]. - Total liabilities increased to $10,441,013 in 2025, up from $2,423,280 in 2024, marking an increase of 331.5%[27]. - The accumulated deficit grew to $130,406,220 in 2025, compared to $90,687,073 in 2024, reflecting an increase of 43.8%[27]. - The total shareholders' equity shifted from $16,488,176 in 2024 to a deficit of $1,258,592 in 2025, indicating a negative change in equity position[27]. - The change in fair value of financial instruments resulted in a gain of $5,592 in 2025, contrasting with a significant gain of $22,581,477 in 2024[29]. - The company reported no interest expense in 2025, compared to an expense of $76,775 in 2024, reflecting a reduction in financial costs[29]. Research and Development - The PRECISE-AD Phase 1b trial was fully enrolled with 144 patients, exceeding the target of 128, and is expected to complete six-month assessments in Q2 2026[3][9]. - PMN310 has demonstrated a favorable safety profile with no treatment-related serious adverse events reported to date[4]. - Research and development expenses for 2025 were $33.4 million, significantly higher than $10.6 million in 2024, reflecting costs for the PRECISE-AD trial[17]. - The company anticipates presenting unblinded top-line data from the PRECISE-AD trial in early 2027[5][10]. - PMN310 received Fast Track Designation from the FDA in July 2025, which may facilitate development efforts[7][19]. - The development of a subcutaneous formulation of PMN310 has been accelerated to improve patient experience[7][16]. - The company is exploring the potential of PMN310 in earlier patient populations with preclinical and asymptomatic Alzheimer's disease[8]. Operating Expenses - Total operating expenses for 2025 reached $40,167,308, a significant increase of 138.5% compared to $16,827,478 in 2024[29]. - Research and development expenses surged to $33,379,321 in 2025, up from $10,637,976 in 2024, reflecting a growth of 213.5%[29]. - General and administrative expenses increased to $6.8 million in 2025 from $6.2 million in 2024, primarily due to a rise in employee headcount[17]. Shareholder Information - The weighted-average outstanding common shares, basic, rose to 1,756,844 in 2025 from 1,036,799 in 2024, an increase of 69.5%[29].