BTIG initiated coverage of ProMIS Neurosciences with a Buy rating and $8.00 price target. The company’s lead candidate, PMN310, is a humanized mAb designed to be selective for conformational epitopes present on AbetaOs, and it is now well-established that AbetaOs are the most disease-relevant Abeta species in the brain, with the recent clinical data from competitors further helping validate AbetaO-hypothesis, the analyst tells investors in a research note. BTIG adds that ProMIS plans to initiate a first-in-human trial for PMN310 in the second half of this year, and contends that the early data on safety and biomarkers hold the potential to de-risk and differentiate PMN310 from other anti-Abeta mAbs.
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