Promis Neurosciences (NASDAQ:PMN) Announces Quarterly Earnings Results, Beats Expectations By $0.39 EPS

Promis Neurosciences (NASDAQ:PMN) released its quarterly earnings results on Thursday. The company reported ($0.89) earnings per share for the quarter, beating the consensus estimate of ($1.28) by $0.39, FiscalAI reports.

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

• In the blinded six-month interim analysis of PRECISE-AD, ProMIS reported no ARIA-E cases, a 4.4% rate of mild, asymptomatic ARIA-H, and decreases in pooled plasma p-tau217 and CSF MTBR-tau243. The company cautioned that these findings are preliminary and do not establish efficacy.
• Patient visits in the 12-month, approximately 140-patient Phase Ib trial are expected to finish this quarter, with unblinded top-line results anticipated in Q1 2027. ProMIS said it will assess safety, clinical outcomes, biomarkers, and evidence of oligomer reduction; the company described directional clinical benefit alongside a better safety profile as a goal, not a proven result.
• ProMIS ended Q3 with approximately $44.1 million in cash and expects its runway to extend through 2027, beyond the anticipated trial readout. R&D spending fell 32% year over year to about $6.7 million as PRECISE-AD moved toward completion, while the quarterly net loss was $8.2 million.
• The company is preparing for a potential registration-quality study, developing a subcutaneous formulation, and plans to seek FDA feedback after analyzing the full trial results. Timing and study design remain contingent on the data and regulatory discussions.

Promis Neurosciences Trading Down 7.4%

PMN stock traded down $0.28 during trading on Thursday, hitting $3.48. The company had a trading volume of 118,790 shares, compared to its average volume of 409,868. Promis Neurosciences has a 52-week low of $2.78 and a 52-week high of $27.40. The company has a 50 day simple moving average of $9.37 and a 200-day simple moving average of $12.64.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PMN shares. Guggenheim reiterated a “buy” rating and set a $69.00 price objective (up from $35.00) on shares of Promis Neurosciences in a research report on Tuesday, July 28th. Chardan Capital set a $20.00 target price on shares of Promis Neurosciences and gave the stock a “buy” rating in a report on Monday, July 27th. Roth Capital lowered their target price on shares of Promis Neurosciences to $15.00 and set a “buy” rating for the company in a report on Monday, November 2nd. Wall Street Zen raised shares of Promis Neurosciences from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 18th. Finally, HC Wainwright reiterated a “buy” rating on shares of Promis Neurosciences in a report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Promis Neurosciences presently has a consensus rating of “Moderate Buy” and an average target price of $30.50.

Insider Activity

In related news, Director Eugene Williams bought 26,500 shares of Promis Neurosciences stock in a transaction dated Wednesday, November 4th. The shares were acquired at an average cost of $3.43 per share, with a total value of $90,895.00. Following the completion of the transaction, the director owned 40,213 shares in the company, valued at $137,930.59. The trade was a 193.25% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Neil Cashman bought 10,000 shares of Promis Neurosciences stock in a transaction dated Monday, November 2nd. The shares were bought at an average cost of $3.86 per share, for a total transaction of $38,600.00. Following the completion of the transaction, the insider owned 14,532 shares of the company’s stock, valued at approximately $56,093.52. This trade represents a 220.65% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders acquired 37,816 shares of company stock valued at $134,746. 1.50% of the stock is owned by corporate insiders.

Promis Neurosciences Company Profile

ProMIS Neurosciences Inc. (NASDAQ: PMN) is a clinical-stage biotechnology company developing precision medicines for neurodegenerative diseases. The company’s research focuses on misfolded proteins, which can form toxic structures associated with conditions such as Alzheimer’s disease, amyotrophic lateral sclerosis and other neurological disorders. ProMIS uses its proprietary target-discovery platform to identify disease-specific toxic protein conformations and develop antibodies intended to selectively bind and neutralize them while avoiding healthy forms of the same proteins.