ProMIS Neurosciences Inc. (Nasdaq: PMN) announced its financial results for the quarter ended September 30, 2026, and provided an update on its clinical development programs. The company reported a cash balance of $44.1 million as of September 30, 2026, a significant increase from $6.1 million at the end of 2025, driven by net proceeds of $70.1 million from a private placement in January 2026. The company stated that its current cash is expected to fund operations through 2027, well beyond the anticipated readout of its Phase 1b clinical trial.
For the third quarter of 2026, ProMIS reported research and development expenses of $6.7 million, a 32% decrease compared to the same period in 2025. This reduction was primarily attributed to decreased direct expenses related to the PMN310 program as the PRECISE-AD trial progressed toward completion. General and administrative expenses were $1.9 million for the quarter, and the company recorded a net loss of $8.2 million, or $(0.89) per share.
The company highlighted the progress of its lead Alzheimer’s candidate, PMN310, in the PRECISE-AD Phase 1b trial. The trial, which evaluates the safety and biomarker effects of a monoclonal antibody targeting toxic amyloid-beta oligomers, is expected to report unblinded 12-month topline data in the first quarter of 2027. The company noted that the trial remains on track for this data release, which will include full safety, biomarker, and cognitive outcomes.
Regarding the interim data presented at the 2026 Alzheimer’s Association International Conference (AAIC), ProMIS reported that 136 patients had completed six months of treatment. The data showed no cases of Amyloid-Related Imaging Abnormalities (ARIA-E) across all APOE genotypes, including 11% of APOE4 homozygotes. ARIA-H occurred in 4.4% of patients and was described as mild and asymptomatic. Additionally, the company reported a decrease from baseline of approximately 15% in plasma pTau217 and 13.3% in CSF MTBR-tau243 in the pooled population.
ProMIS also announced the appointment of Ivana Rubino, Ph.D., as Chief Commercial Officer, effective October 5, 2026. Dr. Rubino brings over 15 years of experience in neuroscience and Alzheimer’s disease leadership from her previous roles at Biogen and Roche. The company is advancing a subcutaneous formulation of PMN310 and plans to initiate a registrational study toward the end of 2027, pending FDA feedback.
