Promis Neurosciences (NASDAQ:PMN) Releases Quarterly Earnings Results

Promis Neurosciences (NASDAQ:PMN) issued its quarterly earnings results on Thursday. The company reported ($1.28) earnings per share for the quarter, topping the consensus estimate of ($1.38) by $0.10, FiscalAI reports.

Here are the key takeaways from Promis Neurosciences’ conference call:

• PMN310 showed an encouraging interim safety profile in the Phase 1b PRECISE-AD study, with zero cases of ARIA-E across all genotypes, including ApoE4 homozygotes, and no treatment-related serious events or discontinuations.
• Blinded six-month biomarker results showed approximately 15% and 13.3% declines in plasma p-tau217 and CSF MTBR-tau243, respectively, which management views as early evidence of target engagement; however, the data are exploratory and do not establish efficacy.
• The company expects all PRECISE-AD patients to complete 12 months of dosing in the fourth quarter of 2026 and plans to report unblinded top-line safety, biomarker, and cognitive data in the first quarter of 2027.
• ProMIS ended the quarter with approximately CAD 53.4 million in cash and short-term investments and expects its current resources to fund operations through 2027, including the anticipated PRECISE-AD readout.
• The company is advancing PMN267 for ALS and PMN442 for synucleinopathies toward IND-enabling studies, while also developing a subcutaneous PMN310 formulation and evaluating potential strategic partnerships or financing options for future trials.

Promis Neurosciences Stock Down 0.6%

Shares of NASDAQ PMN traded down $0.09 during trading on Friday, hitting $14.70. 13,251 shares of the company traded hands, compared to its average volume of 110,067. Promis Neurosciences has a 1 year low of $6.27 and a 1 year high of $27.40. The company has a 50-day moving average price of $12.64 and a 200-day moving average price of $13.60. The firm has a market capitalization of $131.85 million, a P/E ratio of -1.01 and a beta of -0.23.

Analysts Set New Price Targets

A number of research firms recently weighed in on PMN. Cantor Fitzgerald assumed coverage on shares of Promis Neurosciences in a research report on Tuesday, June 30th. They issued an “overweight” rating on the stock. 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. 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. Brookline Capital Markets upgraded shares of Promis Neurosciences to a “strong-buy” rating in a research note on Wednesday, May 20th. Finally, HC Wainwright reissued a “buy” rating on shares of Promis Neurosciences in a report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Promis Neurosciences has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Promis Neurosciences stock. Citadel Advisors LLC lifted its holdings in shares of Promis Neurosciences (NASDAQ:PMN) by 168.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 170,079 shares of the company’s stock after acquiring an additional 106,650 shares during the quarter. Citadel Advisors LLC owned 0.32% of Promis Neurosciences worth $72,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 50.13% of the company’s stock.

Promis Neurosciences Company Profile

Promis Neurosciences, Inc is a clinical‐stage biopharmaceutical company focused on the discovery and development of novel therapeutics for central nervous system disorders. The company’s research programs target cognitive impairment and other neurological symptoms associated with diseases such as Alzheimer’s disease and multiple sclerosis.

Leveraging a proprietary small‐molecule discovery platform, Promis Neurosciences advances both preclinical and early clinical candidates designed to modulate neural pathways involved in memory, learning and neuroinflammation.