RE:RE:Just simmeringThanks for opening the door AZ. My investment in 37,717 shares of Promis at $7.13 cost basis is not a big fat ZERO. At yesterday's closing of $6.18, my investment is worth $230,000 and PMN's market cap was a paltry $45M. On September 27, 2022, Biogen with partner Eisai announced their phase 3 trial results of Lecanemab which modestly reduced the rate of decline in ALZ disease. This was the first positive results for an ALZ drug. This success is limited and there are side effects that will limit it as well. The drug is based on the amyloid beta theory, the same theory as PMN310. With this announcement, Biogen's stock increased from $198 per share to $268 per share or $70 per share on 146M shares or a market cap increase of $10 Billion dollars. Hmmm, WOW.
PMN310 specifically and selectively targets toxic oligomers which makes it superior to Lecanemab. PMN310 has had total success in mice and non-human primates. It has had success with brain extracts with ALZ disease. PMN310 has a lower risk of ARIA, which is brain blood bleeding, than Lecanemab. PMN310 previously had slides that compared PMN310 to Lecanemab in a third party study. It looks like they are now just posting their current presentation. That study showed that PMN310 was substantially superior to Lecanemab and that the potential side effects were very substantially less.
So, by next summer we should have a good idea about the success of PMN310. With that presumed success, lets add $5 billion to PMN's market cap of and you have a 100+ times increase in market cap and a 100+ times increase in the stock price or $600+ per share. It of course sounds crazy. So, I have invested in the positive science and results of PMN310 over the past five years. There is incedible potential upside. You don't often get a situation like this. I am very confident. I believe there will be several news off ramps in the first half of 2023 that will enable me to pull out my $269k investment and hold the balance of shares.