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Analyst Calls Biotech with Alzheimer's Therapy a 'High Risk, High Reward Opportunity'

Source: Streetwise Reports


October 25, 2017 ( Newswire) Mackie Research reported on this company's recent announcement about one of its product candidates targeting Alzheimer's disease.

In an Oct. 17 research report, Mackie analyst Andre Uddin wrote that ProMIS Neurosciences Inc.'s (PMN:TSX) lead Alzheimer's monoclonal antibody (mAb) therapeutic PMN310 showed a "high degree of selectivity to target amyloid beta oligomers when compared to other amyloid beta-directed mAbs in a preclinical study."

In the study, ProMIS "compared the binding profiles of PMN310, Eli Lilly's solanezumab (failed in a pivotal study), Johnson & Johnson/Pfizer's bapineuzumab (discontinued) and Biogen's aducanumab to amyloid beta monomers, oligomers and plaques," Uddin explained.

Uddin highlighted the results revealed that PMN310 bound only to select oligomers. In contrast, "solanezumab mainly bound to the monomers; bapineuzumab bound to all forms of amyloid beta (monomers, plaques, oligomers); [and] aducanumab bound to both plaques and oligomers."

The findings are significant for ProMIS, Uddin argued, because "increasing scientific evidence suggests that Alzheimer's is primarily caused by soluble toxic amyloid beta oligomers," and the company is developing PMN310 based on that theory.

Further, an mAb that binds to plaques even in part, such as aducanumab and bapineuzumab, isn't ideal as an Alzheimer's treatment because it is "often associated with brain side effects" like cerebral edema, "which limits the safe dosing of a drug," added Uddin. ProMIS' PMN310 does not bind to plaques.

Given the results of ProMIS' comparative study, Uddin concluded that ProMIS is a "high risk, high reward opportunity. . .We remain confident that PMN310 should have better efficacy and safety than Biogen's aducanumab and [that] PMN310 has best-in-class potential to treat Alzheimer's." Additionally, the study findings might lead to a collaborative arrangement, which could happen "as early as 2018."

Mackie Research has a Speculative Buy rating and a $0.50 per share price target on ProMIS, whose stock is currently trading at $0.24 per share.

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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.

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