ProMIS Neurosciences (PMN) Registration filing summary

Company overview and business model

• Applies a patented technology platform to develop antibody therapies and vaccines for neurodegenerative and protein-misfolding diseases, focusing on Alzheimer's, multiple system atrophy, and ALS.

• Pipeline includes PMN310 (lead candidate for Alzheimer's, in Phase 1b), PMN267 (targeting ALS), and PMN442 (targeting synucleinopathies), plus preclinical programs and machine learning-based discovery.

• Technology enables selective targeting of toxic misfolded proteins, aiming to avoid interference with normal protein function.

• Operations have been financed primarily through public and private placements of equity and convertible debt.

Financial performance and metrics

• Net tangible book value as of December 31, 2025, was approximately $(1.3) million, or $(0.58) per share.

• After a $50 million offering at $17.77 per share, as adjusted net tangible book value would be $48.7 million, or $9.49 per share, resulting in immediate dilution of $8.28 per share to new investors.

• 2,152,397 common shares outstanding as of December 31, 2025, excluding options, warrants, and other convertible securities.

Use of proceeds and capital allocation

• Net proceeds will be used to advance clinical development of PMN310, for working capital, and general corporate purposes, including R&D, manufacturing, regulatory, clinical trials, acquisitions, and potential debt repayment.

• Management retains broad discretion over allocation of proceeds.