Biotech Offers 'Best-in-Class Potential to Treat Alzheimer's'
Source: Streetwise Reports
January 11, 2018 (Investorideas.com Newswire) André Uddin, an analyst with Mackie Research Capital Corp., discussed the implications of the latest announcement about this firm's most advanced Alzheimer's drug.
ProMIS Neurosciences Inc. (PMN:TSX; ARFXF:OTCQB) reported that in preclinical studies, its asset, PMN310, demonstrated no "binding to amyloid beta plaques in and around blood vessels in human and rodent Alzheimer's brain samples," wrote Mackie Research Capital Corp. analyst André Uddin in a Jan. 4, 2018, research note.
This result is a "positive indicator of improved safety for Alzheimer's drugs, as amyloid beta plaque binding is believed to be associated with dose-limiting brain swelling and microhemorrhages," Uddin explained.
Whereas PMN310 hasn't shown plaque binding, Biogen's aducanumab and Pfizer/Johnson & Johnson's bapineuzumab have, Uddin noted, "suggesting PMN310 could have an improved safety profile" over that of those drugs and as such, "should facilitate a potential licensing deal for PMN310." Mackie expects such a partnership could happen as early as sometime this year, but to be conservative, in its company model it is using 2019 instead.
Uddin reiterated that ProMIS Neurosciences remains a "high-risk, high-reward opportunity." He added, "Based on currently available data and our extensive due diligence, we believe PMN310 should be better than Biogen's aducanumab and should have the best-in-class potential to treat Alzheimer's."
Mackie has a Speculative Buy rating and a CA$0.50 per share target price on ProMIS, whose stock is currently trading at around $0.23 per share.
Read what other experts are saying about:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following company mentioned in this article is a billboard sponsor of Streetwise Reports: ProMIS Neursciences Inc. Streetwise Reports does not accept stock in exchange for its services. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article.
Disclosures from Mackie Research Capital Corp., ProMIS Neurosciences Inc., Update, Jan. 4, 2018
RELEVANT DISCLOSURES APPLICABLE TO COMPANIES UNDER COVERAGE:
Relevant disclosures required under IIROC Rule 3400 applicable to companies under coverage discussed in this research report are available on our web site at www.mackieresearch.com.
Each analyst of Mackie Research Capital Corporation whose name appears in this report hereby certifies that (i) the recommendations and opinions expressed in this research report accurately reflect the analyst's personal views and (ii) no part of the research analyst's compensation was or will be directly or indirectly related to the specific conclusions or recommendations expressed in this research report.
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire http://www.investorideas.com/News-Upload/
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.