SOURCE: Streetwise Reports

Streetwise Reports

September 21, 2017 08:45 ET

Streetwise Reports Examines How Possible 'Best-in-Class' Alzheimer's Drug Candidate Offers 'Disruptive' Potential

SAN FRANCISCO, CA--(Marketwired - September 21, 2017) - André Uddin, an analyst with Mackie Research, explained the rationale for adding this neurodegenerative disease biotech company to his firm's coverage universe.

Included in this article is: ProMIS Neurosciences Inc. (TSX: PMN)

Mackie Research Capital Corp. initiated coverage on ProMIS Neurosciences Inc. on Sept. 19, with a Speculative Buy rating for a "high-risk, high-reward investment opportunity," wrote analyst André Uddin. "We value ProMIS using a two-stage, probability-adjusted discounted cash flow methodology."

ProMIS' lead drug candidate PMN310 is "a preclinical-stage, novel monoclonal antibody being developed to modify Alzheimer's disease (AD)," noted Uddin. PMN310 is based on the new theory that AD "is primarily caused by toxic amyloid beta oligomers" versus amyloid beta plaques.

"This newer theory," Uddin explained, "is strongly backed by the Phase 1b success of Biogen Inc.'s aducanumab, which targets toxic A_ oligomers (as well as plaque) and the failures of Eli Lilly and Co.'s solanezumab and Merck & Co. Inc.'s verubecestat, which target A_ monomers and their synthesis. The Phase 1b results of aducanumab demonstrated a slowing down of cognitive decline in prodromal or mild AD patients (before major memory loss) in a roughly dose dependent fashion. We believe this newer AD theory creates a path to develop a unique disease-modifying Alzheimer's treatment, PMN310, which has best-in-class potential."

Continue reading this article: Possible 'Best-in-Class' Alzheimer's Drug Candidate Offers 'Disruptive' Potential

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