Promis Neurosciences (NASDAQ:PMN) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Promis Neurosciences (NASDAQ:PMN) released its quarterly earnings data on Thursday. The company reported ($1.28) earnings per share for the quarter, beating the consensus estimate of ($1.38) by $0.10, FiscalAI reports.

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

• PMN310 showed an encouraging interim safety profile in the Phase 1b PRECISE-AD study, with zero cases of ARIA-E across all genotypes, including ApoE4 homozygotes, and no treatment-related serious events or discontinuations.
• Blinded six-month biomarker results showed approximately 15% and 13.3% declines in plasma p-tau217 and CSF MTBR-tau243, respectively, which management views as early evidence of target engagement; however, the data are exploratory and do not establish efficacy.
• The company expects all PRECISE-AD patients to complete 12 months of dosing in the fourth quarter of 2026 and plans to report unblinded top-line safety, biomarker, and cognitive data in the first quarter of 2027.
• ProMIS ended the quarter with approximately CAD 53.4 million in cash and short-term investments and expects its current resources to fund operations through 2027, including the anticipated PRECISE-AD readout.
• The company is advancing PMN267 for ALS and PMN442 for synucleinopathies toward IND-enabling studies, while also developing a subcutaneous PMN310 formulation and evaluating potential strategic partnerships or financing options for future trials.

Promis Neurosciences Stock Performance

Shares of PMN stock traded up $0.29 during mid-day trading on Thursday, reaching $14.79. 14,658 shares of the company’s stock traded hands, compared to its average volume of 110,751. Promis Neurosciences has a 12 month low of $6.27 and a 12 month high of $27.40. The firm has a 50 day moving average price of $12.54 and a two-hundred day moving average price of $13.56. The firm has a market capitalization of $132.64 million, a PE ratio of -1.02 and a beta of -0.23.

Hedge Funds Weigh In On Promis Neurosciences

An institutional investor recently raised its position in Promis Neurosciences stock. Citadel Advisors LLC raised its stake in shares of Promis Neurosciences (NASDAQ:PMN) by 168.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 170,079 shares of the company’s stock after purchasing an additional 106,650 shares during the period. Citadel Advisors LLC owned 0.32% of Promis Neurosciences worth $72,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 50.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PMN shares. Roth Capital initiated coverage on shares of Promis Neurosciences in a research report on Tuesday, July 7th. They issued a “buy” rating and a $19.00 target price for the company. Zacks Research upgraded Promis Neurosciences to a “hold” rating in a research note on Tuesday, June 9th. Wall Street Zen raised Promis Neurosciences from a “strong sell” rating to a “sell” rating in a report on Saturday, July 18th. HC Wainwright reiterated a “buy” rating on shares of Promis Neurosciences in a research report on Wednesday, July 15th. Finally, Weiss Ratings cut Promis Neurosciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

About Promis Neurosciences

Promis Neurosciences, Inc is a clinical‐stage biopharmaceutical company focused on the discovery and development of novel therapeutics for central nervous system disorders. The company’s research programs target cognitive impairment and other neurological symptoms associated with diseases such as Alzheimer’s disease and multiple sclerosis.

Leveraging a proprietary small‐molecule discovery platform, Promis Neurosciences advances both preclinical and early clinical candidates designed to modulate neural pathways involved in memory, learning and neuroinflammation.