Promis Neurosciences (NASDAQ:PMN) Releases Quarterly Earnings Results, Beats Estimates By $0.39 EPS

Promis Neurosciences (NASDAQ:PMN) released its quarterly earnings results on Thursday. The company reported ($0.89) earnings per share for the quarter, beating the consensus estimate of ($1.28) by $0.39, FiscalAI reports.

Here are the key takeaways from Promis Neurosciences’ conference call:

• In the blinded six-month interim analysis of PRECISE-AD, ProMIS reported no ARIA-E cases, a 4.4% rate of mild, asymptomatic ARIA-H, and decreases in pooled plasma p-tau217 and CSF MTBR-tau243. The company cautioned that these findings are preliminary and do not establish efficacy.
• Patient visits in the 12-month, approximately 140-patient Phase Ib trial are expected to finish this quarter, with unblinded top-line results anticipated in Q1 2027. ProMIS said it will assess safety, clinical outcomes, biomarkers, and evidence of oligomer reduction; the company described directional clinical benefit alongside a better safety profile as a goal, not a proven result.
• ProMIS ended Q3 with approximately $44.1 million in cash and expects its runway to extend through 2027, beyond the anticipated trial readout. R&D spending fell 32% year over year to about $6.7 million as PRECISE-AD moved toward completion, while the quarterly net loss was $8.2 million.
• The company is preparing for a potential registration-quality study, developing a subcutaneous formulation, and plans to seek FDA feedback after analyzing the full trial results. Timing and study design remain contingent on the data and regulatory discussions.

Promis Neurosciences Stock Performance

Shares of Promis Neurosciences stock traded down $0.17 during mid-day trading on Friday, hitting $3.31. 103,107 shares of the stock were exchanged, compared to its average volume of 123,301. The company has a market capitalization of $29.67 million, a P/E ratio of -0.38 and a beta of -0.19. The company has a 50-day simple moving average of $9.37 and a 200 day simple moving average of $12.64. Promis Neurosciences has a 12 month low of $2.78 and a 12 month high of $27.40.

Insider Buying and Selling

In other news, insider Neil Cashman purchased 10,000 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were purchased at an average price of $3.86 per share, with a total value of $38,600.00. Following the transaction, the insider directly owned 14,532 shares of the company’s stock, valued at approximately $56,093.52. This represents a 220.65% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eugene Williams purchased 26,500 shares of the business’s stock in a transaction dated Wednesday, November 4th. The shares were purchased at an average price of $3.43 per share, with a total value of $90,895.00. Following the purchase, the director directly owned 40,213 shares in the company, valued at $137,930.59. This trade represents a 193.25% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 37,816 shares of company stock valued at $134,746 over the last three months. Insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

PMN has been the subject of a number of research reports. Chardan Capital set a $20.00 target price on Promis Neurosciences and gave the stock a “buy” rating in a report on Monday, July 27th. HC Wainwright reaffirmed a “buy” rating on shares of Promis Neurosciences in a report on Monday, October 12th. Wall Street Zen raised shares of Promis Neurosciences from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 18th. Weiss Ratings raised Promis Neurosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, November 2nd. Finally, Guggenheim reaffirmed a “buy” rating and set a $69.00 target price (up from $35.00) on shares of Promis Neurosciences in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.50.

About Promis Neurosciences

ProMIS Neurosciences Inc. is a clinical-stage biotechnology company developing antibody-based treatments for neurodegenerative diseases. Its research focuses on misfolded proteins that may contribute to these conditions. The company’s technology is designed to identify disease-associated forms of proteins while distinguishing them from their normally functioning counterparts. Its lead program, PMN310, is an antibody candidate targeting toxic amyloid-beta oligomers for the potential treatment of Alzheimer’s disease.