Why I'm adding right nowShare price is near all time lows
PMN now has funds for Ph1 trial of PMN310 and the associated IND was previously approved by FDA.
Latest data presented at international Alzheimer's conference shows that PMN310 is better than Biogen aducanumab, Elsai lecanumab/lequimbi, Lilly and Acumen ACu193.
https://d1io3yog0oux5.cloudfront.net/_1276cc47bc00c938cd9a618a98417b26/promisneurosciences/db/1004/8793/pdf/2023+AAIC+PMN310+poster.pdf
Importantly- it has higher specificity for the correct target than competing antibodies, and it has lower binding affinity to plaque, which results in decreased potential for ARIA-E.
The AD treatment market is huge, will be more than $13B by 2030, just based on current drugs.
https://www.forbes.com/sites/brucejapsen/2023/06/07/alzheimers-drug-market-to-hit-13-billion-as-fda-approvals-and-insurance-coverage-escalate/?sh=57336b887665
Biogen's market cap has historically shifted by up to $10B when they had positive Ph2/3 news. While Aducanumab was lacking in efficacy, which can is explained by PMN's poster data, it was the first big step forward for AD treatment in decades.
If PMN were to capture revenues of $2B/yr at a margin of 25% ($500M/year earnings), then at a P/E of 20, the market cap of PMN would be $10B. The current market cap is about $40M. They'll need another $200-300M in financing to get through PH2/3, or a major partnership with subsequent impacts on margins subject to terms.
Painful times (for investors) mostly behind, exciting times ahead. People can cry all day about getting squeezed, but at these prices, the reward/risk ratio is extraordinary.
These are just my opinions, not investment advice. This is a high risk play for many reasons. Ph3 and revenues are a long ways off still.