ProMIS Neurosciences Inc PMN

ENDPOINTS NEWS Jan 31, 2024

[G1945V]

Biogen to halt sales and development of controversial Alzheimer's drug Aduhelm

"Biogen said it will end the development and commercialization of its controversial Alzheimer’s drug Aduhelm, which was approved against outside experts’ advice in mid-2021 and caused congressional inquiries and broader market pushback on pricing and efficacy.

While the company didn’t take the official step of pulling the drug from the market, this essentially discontinued the drug. Biogen said in a statement that it will hand rights for Aduhelm back to original owner Neurimmune, and took a one-time charge of $60 million in the fourth quarter.

By walking away from Aduhelm, Biogen said it will free up resources for Leqembi, its follow-up anti-amyloid treatment developed with Eisai, and will speed up work on other modalities, including an antisense oligonucleotide targeting tau (BIIB080) and an oral small molecule inhibitor of tau aggregation (BIIB113).

“Biogen is reprioritizing resources to build a leading franchise to address the multiple pathologies of the disease and patient needs,” CEO Chris Viehbacher said in the company’s statement.

Biogen will also halt work on a Phase IV confirmatory trial, which regulators had requested in order to try and confirm the drug’s benefit as a condition for selling it in the US."

AUTHOR: Kyle LaHucik


G1945V

[M101]

Even Goldstein would have shot the old nag by now.

[garygp]

Not at all hard to tell how easily we are being manipulated and held back by whomever naked shorted the stock back in late 2023.  There are 600 shares on the ask between 2.01 and 2.54, that's all and 2,000 bid at, you guessed it, 1.88 If the BOD and the Boston Group really did care about the company and it's shareholders, they would have raised holy hell with the SEC and the Nasdaq

[garygp]

Forgot to add.  Given where we were last year and the most recent news, we should be trading somewhere in the range of 12 to 20 dollars, imo.

[G1945V]

"I'm beginning to wonder when the rug is pulled from beneath "all of us" in favour of the Boston Group and a bunch of crooked bankers and investment brokers." Can you paint me a picture to show exactly how this would be achieved?  G1945V

[goldtech]

You said it as it was and nailed it. This BOD should have hung Gail and anyone associated with this naked shorting campaign, but they took their own selfish needs first.

[M101]

How does this hypothesis work,  who trades what when? 

[M101]

So, haven't thought it through that far? I don't doubt that naked shorts exist because I totally doubt that regulators exist to regulate, but if I can't see and you can't describe how a naked short would have worked here, then I have no reason to think it happened and every reason to think you're just blowing smoke. 

[goldtech]

Naked shorting did happen and this Board allowed it to happen. 

[G1945V]

Where is the proof? G1945V

[M101]

A simpler explanation than naked shorts is that the huge volume day was needed to disguise the shares to be dumped ahead of the pp. Day traders were drawn in through artificial volume and were left holding the bag which then ony accelerated the drop down to the eventual pp price. The volume likely would have raised flags on the TSX, but not the NASDAQ. So then the question is not about shorts at

[G1945V]

A much simpler explanation is the market dictates the share price, no one else. Believing that certain groups dictate the share price is nonsense. If one believes in the stock, one invests. One that stops believing in the stock, one sells. It's bizarre why some love going down that hypothetical rabbit hole syndrome of conspiracy beliefs.  G1945V JMO

[BottomBroker]

How do you explain the share price since the move to the Nasdaq? It was at  $6-8 when first listed.  SINCE then, Promis has:  - received approval for an IND from the FDA  - released postitive pre-clinical data   - started Phase 1 trials Pretty good news, right? Well, as everyone knows, the share price has gone nowhere but down - almost back to penny-stock

[M101]

How many times does 1945 have to explain it to us conspiracy theorists? It's just the magic hand of the market. Praise Be.

[G1945V]

The stock went from $8.14 on April 27, 2023, to: On July 7, 2023, joined the Nasdaq $3.70 July 17, 2023, $6.19 (~ 14 million shares traded, the market in a "cash frenzy") Delisted from TSX July 21, 2023, $4.55 ~ 130K shares traded And continued dropping, now stands at $2.00 I just don't see any other explanation but the market dictates the price. G1945V

[BottomBroker]

You're off by a year. It joined the Nasdaq in 2022, not 2023. Check your prices again. https://www.promisneurosciences.com/news-media/press-releases/detail/185/promis-neurosciences-to-commence-trading-on-nasdaq-under "The Company’s Common Shares will begin trading on Friday, July 8th, 2022, under the symbol “PMN”."

[BottomBroker]

And really, who cares about dates anyway. The fact is, the stock is trading at or near historic lows, after reporting some of the best news in the company's history (IND approval, Phase 1 trials). Why is that? Are you telling me the market penalizes good news?

[G1945V]

BB... Sorry Joined Nasdaq July 7, 2022 Share Price $9.25,  Volume 75K. All I am trying to show is that the share price has been bouncing all over the place with good news or no news at all. The market knows PMN does not have the necessary cash to see it through beyond Phase 1. Getting the IND just didn't cut it. The Boston Group did zilch for PMN, and they invested quite a bit. But to

[BottomBroker]

The Boston Group is big money. And they stepped in. And the SP is at all-time lows.  But you're absolutely right. We can't change a thing. Sad. Anyway, that's enough venting for today. I feel much better. Ha. 

[M101]

Lol, "bouncing all over the place", what a crock. Have you ever seen a stock model a damped oscillator better than PMN over the last month?  $2 was the repricing window Boston Group wanted back when it was around $6,  $2 keeps it listed, and $2 remains the target closing price each day.    Which means control, so that's not zilch. We might not like it but we can

[M101]

That is wonderful world you live in 1945, a veritable garden of eden without sin. How did you pick your user name?