BTIG Starts ProMIS Neurosciences (PMN) at Buy

BTIG analyst Thomas Shrader initiates coverage on ProMIS Neurosciences (NASDAQ: PMN) with a Buy rating and a price target of $8.00.

The analyst commented, "ProMIS Neurosciences is developing both antibody and vaccine approaches to treat neurodegeneration based on computational identification of epitopes that are specific for the toxic isoforms of misfolded proteins. PMN310 is a humanized IgG1 monoclonal antibody designed to target the class soluble Aβ species called toxic Aβ oligomers or AβOs. These particles are soluble and comprised of ~12 monomers and are the most toxic Aβ species to neurons. PMN310 was engineered to bind an Aβ epitope that is exposed in toxic AβOs but is not found in either Aβ monomers or insoluble Aβ plaque. PMN310’s low affinity for insoluble Aβ plaque is designed to reduce ARIA – the DLT across the field. The company has completed preclinical studies characterizing the properties of PMN310 (see below) and anticipates initiating a P1a HV study in 2H23 assessing PK for dosing and safety. Subsequently, we expect a P1b study in AD patients (MCI and mild AD) that will be informative as to the overall prospects of PMN310 (data early 2025)."

For an analyst ratings summary and ratings history on ProMIS Neurosciences click here. For more ratings news on ProMIS Neurosciences click here.

Shares of ProMIS Neurosciences closed at $1.98 yesterday.

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