Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Biotech offers 'best-in-class potential to treat Alzheimer's'

Streetwise Reports, Streetwise Reports
0 Comments| January 11, 2018

{{labelSign}}  Favorites
{{errorMessage}}

Click to enlarge

ProMIS Neurosciences Inc. (PMN:TSX; ARFXF:OTCQB) reported that in preclinical studies, its asset, PMN310, demonstrated no "binding to amyloid beta plaques in and around blood vessels in human and rodent Alzheimer's brain samples," wrote Mackie Research Capital Corp. analyst André Uddin in a Jan. 4, 2018, research note.

This result is a "positive indicator of improved safety for Alzheimer's drugs, as amyloid beta plaque binding is believed to be associated with dose-limiting brain swelling and microhemorrhages," Uddin explained.

Whereas PMN310 hasn't shown plaque binding, Biogen's aducanumab and Pfizer/Johnson & Johnson's bapineuzumab have, Uddin noted, "suggesting PMN310 could have an improved safety profile" over that of those drugs and as such, "should facilitate a potential licensing deal for PMN310." Mackie expects such a partnership could happen as early as sometime this year, but to be conservative, in its company model it is using 2019 instead.

Uddin reiterated that ProMIS Neurosciences remains a "high-risk, high-reward opportunity." He added, "Based on currently available data and our extensive due diligence, we believe PMN310 should be better than Biogen's aducanumab and should have the best-in-class potential to treat Alzheimer's."

Mackie has a Speculative Buy rating and a CA$0.50 per share target price on ProMIS, whose stock is currently trading at around $0.23 per share.



{{labelSign}}  Favorites
{{errorMessage}}

Get the latest news and updates from Stockhouse on social media

Follow STOCKHOUSE Today

Featured Company