Core Insights - ProMIS Neurosciences is advancing its lead antibody candidate PMN310 for Alzheimer's disease (AD) through a Phase 1b clinical trial, highlighting the urgent need for improved treatment options in the AD space [1][2][3] - The company reported a net income of $2.8 million for the fiscal year 2024, a significant turnaround from a net loss of $13.2 million in 2023, primarily due to a gain on the change in fair value of warrant liabilities [7][14] - ProMIS has expanded its intellectual property portfolio with 23 newly granted or allowed patents since January 2024, strengthening its position in the neurodegenerative disease market [2][3] Alzheimer's Disease Program (PMN310) - PMN310 is a humanized IgG1 antibody targeting toxic amyloid-beta oligomers, which are believed to drive AD progression [3][4] - The Phase 1b trial (PRECISE-AD) aims to enroll approximately 100 subjects across 22 sites in the U.S., with interim results expected in the first half of 2026 and topline results anticipated by the end of 2026 [3][4] - The Phase 1a trial demonstrated that PMN310 was well-tolerated and effectively crossed the blood-brain barrier, suggesting potential for target engagement in AD patients [4] Financial Highlights - As of December 31, 2024, ProMIS had cash and cash equivalents of $13.3 million, an increase from $12.6 million in 2023 [7][11] - Research and development expenses rose to $10.6 million in 2024 from $7.9 million in 2023, reflecting costs associated with clinical trials [7][14] - The company completed a PIPE financing in Q3 2024, providing initial funding of $30.3 million and potential additional funding of $92.4 million [7] Pipeline and Future Developments - ProMIS is also advancing programs for amyotrophic lateral sclerosis (ALS) with PMN267 and multiple synucleinopathies with PMN440, showcasing a diverse pipeline in neurodegenerative diseases [2][5][6] - The company plans to present preclinical data at upcoming conferences, further demonstrating its commitment to innovation in the field [4][5][6]

Company Overview - ProMIS Neurosciences, Inc. is a clinical-stage biotechnology company focused on developing antibody therapeutics targeting toxic misfolded proteins in neurodegenerative diseases such as Alzheimer's disease (AD), amyotrophic lateral sclerosis (ALS), and multiple system atrophy (MSA) [3] - The company utilizes a proprietary target discovery engine, ProMIS™, which employs a thermodynamic, computational discovery platform to identify Disease Specific Epitopes on misfolded proteins [3] Product Development - The lead product candidate, PMN310, is a humanized monoclonal antibody designed to selectively bind toxic Aβ oligomers, which are implicated in the progression of Alzheimer's disease, while avoiding binding to plaque or monomers [3] - PMN310 has successfully completed a Phase 1a clinical study and is currently in a Phase 1b clinical trial involving Alzheimer's disease patients [3] Upcoming Events - Neil Warma, the CEO of ProMIS Neurosciences, will participate in a fireside chat at the 37th Annual Roth Conference on March 18, 2025, at 8:00 a.m. PT in Dana Point, CA [1] - A live webcast of the event will be available on the company's website for at least 30 days following the event [2]