ProMIS Neurosciences (PMN) Q1 2026 earnings summary

Executive summary

• Focused on developing antibody therapies for neurodegenerative diseases, with lead candidates targeting Alzheimer's, ALS, and synucleinopathies.

• Closed PIPE financing with gross proceeds up to $175 million, expected to fund operations through 2027 and complete the ongoing Phase 1b Alzheimer's trial.

• PRECISE-AD Phase 1b trial fully enrolled with 144 participants; 6-month blinded interim analysis expected early Q3 2026, 12-month top-line data in early 2027.

• Accelerated development of a subcutaneous formulation for PMN310 to enhance patient convenience and competitive profile.

• Presented key scientific data at major conferences, highlighting platform versatility and progress in pipeline programs.

Financial highlights

• Net loss of $8.2 million for Q1 2026, compared to $7.3 million in Q1 2025.

• Operating expenses rose to $8.6 million, up from $7.5 million year-over-year, driven by increased R&D for PMN310.

• Cash and short-term investments totaled $63.8 million as of March 31, 2026.

• Weighted-average shares outstanding: 6,527,779 for Q1 2026.

• Shareholders' equity increased to $60.7 million as of March 31, 2026.

Outlook and guidance

• Cash runway expected to fund planned operations through 2027, including completion of the PRECISE-AD trial, but additional funding will be needed for future clinical activities.

• Blinded interim analysis of PRECISE-AD safety and biomarker data anticipated early Q3 2026; unblinded top-line results expected early 2027.