ProMIS neurosciences raises $0.8 million in registered direct offering

ProMIS Neurosciences Inc. (NASDAQ: PMN) raised $0.8 million through a registered direct offering with an existing healthcare-focused institutional investor, the clinical-stage biotechnology company announced.

The company entered into a definitive agreement to issue and sell pre-funded warrants to purchase 984,736 common shares at $0.8124 per share. The pre-funded warrants carry an exercise price of $0.0001 per share and are immediately exercisable until exercised in full.

The offering is expected to close on or about July 24, 2025, subject to customary closing conditions. ProMIS intends to use the net proceeds to advance clinical development of PMN310, its lead therapeutic candidate, and for working capital and general corporate expenses.

The securities are being offered under a shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission on September 22, 2023, and declared effective on September 29, 2023.

ProMIS focuses on developing therapeutic antibodies targeting toxic misfolded proteins in neurodegenerative diseases including Alzheimer's disease, amyotrophic lateral sclerosis and Parkinson's disease. The company operates offices in Cambridge, Massachusetts and Toronto, Ontario.

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