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Coverage Launched on Co. in Alzheimer's Drug Space

 

May 18, 2022 (Investorideas.com Newswire) This biopharma's therapeutic candidates for central nervous system diseases stand out because of their selective and specific mechanism of action, noted a Leede Jones Gable report.


ProMIS Neurosciences Inc. (PMN:TSX; ARFXF:OTCQB) recently garnered analyst coverage by Douglas Loe at Leede Jones Gable, as noted in a May 11th research note.

The Canadian investment firm initiated coverage on ProMIS with a Speculative Buy rating and a price target of CA$0.50. This target indicates a potential 355% return given that biotech's current share price is around CA$0.11.

Loe highlighted that Massachusetts-based ProMIS generates monoclonal antibodies that target conformational epitopes expressed mainly or exclusively on misfolded or aggregated proteins, and those misfolded or aggregated proteins contribute to various central nervous system (CNS) diseases.

Focused on neurodegenerative diseases, ProMIS has a pipeline of these antibody-based drugs, Loe noted. He discussed three of the standouts.

ProMIS' lead asset is PMN310 for Alzheimer's disease, which selectively and specifically targets conformational epitopes within misfolded toxic beta-amyloid oligomers. The analyst pointed out that the Alzheimer's market is rife with clinical-stage therapies, but only a few have the same mechanism of action as PMN310.

"We believe that PMN310 rises above its peers in not only targeting this intermediate aggregation form of beta-amyloid but also from being specifically designed to do so and thus to manifest fewer off-target side effects," Loe wrote.

PMN310 is currently in the advanced preclinical testing phase. Loe estimates it will be ready for Phase 1 clinical testing by Q1/23.

Another ProMIS asset is PMN442, which targets alpha-synuclein aggregation relevant to Parkinson's disease and related motor neuron disorders. A third is PMN267, which targets TDP-43 in amyotrophic lateral sclerosis (Lou Gehrig's disease). These two drugs could be ready for Phase I clinical trials by the end of 2023, Loe forecasts.

Disclosures:

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 companies mentioned in this article are billboard sponsors of Streetwise Reports: ProMIS Neurosciences Inc. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with: None. Please click here for more information.

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.

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 the 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 the 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 decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of ProMIS Neurosciences Inc., a company mentioned in this article.

6) This article does not constitute medical advice. Officers, employees, and contributors to Streetwise Reports are not licensed, medical professionals. Readers should always contact their healthcare professionals for medical advice.

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