Analyst Calls Biotech with Alzheimer's Therapy a 'High Risk, High Reward Opportunity'
Source: Streetwise Reports
October 25, 2017 (Investorideas.com 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.
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 sponsor of Streetwise Reports: ProMIS Neurosciences Inc. Streetwise Reports does not accept stock in exchange for its services. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers.
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.
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: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire https://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: https://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.