Join our smart investors - Get the best stock directories in  blockchain, cannabis, crypto, AI, IoT, cleantech. Daily podcasts in cannabis and crpto. Just $99  a year

'Hot' Alzheimer's Market is Promising for Biotech with 'Novel' Drug Candidate

Source: Streetwise Reports


November 22, 2017 ( Newswire) André Uddin, an analyst with Mackie Research Capital Corp., summarized the quarterly financial results and anticipated catalysts for this Alzheimer's drug developer.

In a Nov. 13, 2017 research note, analyst André Uddin with Mackie Research Capital Corp. reported that, as expected, ProMIS Neurosciences Inc. (PMN:TSX) announced $0 revenue for Q3/17. Fully diluted earnings per share was ($0.01), which was in line with Mackie's estimate. At the quarter's end, the biotech had CA$3.3 million in cash and no debt. "Financials are less important as ProMIS is still a preclinical biotech company," wrote Uddin regarding the Q3/17 results.

ProMis, Uddin continued, is developing PMN310 as a "novel Alzheimer's drug candidate based on a new amyloid beta theory—the disease is mainly caused by soluble toxic amyloid beta oligomers."

Mackie expects at least two upcoming catalysts for ProMIS. One is that the firm expects ProMIS "to disclose more preclinical results that should demonstrate a better efficacy and safety profile of PMN310 than Biogen's aducanumab," Uddin stated.

The second is that positive PMN310 clinical data will spur a collaborative deal, perhaps as early as next year. "We have assumed ProMIS to outlicense PMN310 in 2019 for an upfront payment of CA$50M; our numbers are likely conservative," said Uddin.

This compares to the US$205 million that AbbVie Inc. (ABBV:NYSE) paid upfront in October to license a preclinical Alzheimer's drug candidate from Alector LLC (private). Similarly, Biogen Inc. (BIIB:NASDAQ) recently committed an additional US$500 million to its Phase 3 Alzheimer's drug candidate aducanumab.

Mackie is maintaining its Speculative Buy rating and CA$0.50 per share target price on ProMIS, whose stock is currently trading at around CA$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. 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.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

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. - A Leading Global Investor Website for Biotech Industry Stocks - investing ideas in biotechnology stocks, medical technology and life sciences

Like Biotech Stocks? View our Biotech Stocks Directory

Get News Alerts on Biotech Stocks

More Info: Newswire

This news is published on the Newswire - a global digital news source for investors and business leaders

Disclaimer/Disclosure: 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: Learn more about publishing your news release on the newswire

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: Global investors must adhere to regulations of each country.

Please read privacy policy: