ProMIS Neurosciences Announces Third Quarter 2020 Results - Seite 3

Research and development expenses for the nine months ended September 30, 2020 were $2,921,199, as compared to $3,866,294 in the nine months ended September 30, 2019. The decrease in the research and development expenses for the nine months ended September 30, 2020 reflects the conservation of cash resources and decreased costs associated with external contract research organizations for internal programs, decreased consulting and professional fees and decreased share-based compensation, offset by increased patent expense.

General and administrative expenses for the nine months ended September 30, 2020 were $2,051,506, as compared to $2,076,463 in the nine months ended June 30, 2019. The decrease for the nine months ended September 30, 2020 is primarily attributable to a reduction in consulting and professional fees and a decrease in foreign exchange losses offset by warrant modification expense.

Outlook

As a prelude to the first PMN310 clinical trial in AD, we will use a novel biomarker approach that may show evidence of slowing of neuronal death as early as the Phase 1 clinical study. As the ability to achieve early detection of AD develops, based on the advent of reliable blood-based biomarkers for AD detection, the need for preventive treatment will grow. Therapeutic vaccines can be used for this purpose. Using our discovery platform, our goal is to devise a safe and effective AD vaccine to induce a specific immune response against toxic oligomers of amyloid beta.

The Company will also continue to characterize the potential benefits of its programs selectively targeting toxic aggregates of TDP-43 in ALS, toxic forms of alpha-synuclein in PD and toxic aggregates of tau in AD and other dementias. Our unique platform produces antibodies that meet a key success factor for the development of therapeutics and vaccines for neurodegenerative diseases: the ability to selectively target the neurotoxic form of a protein implicated as a root cause of disease, while sparing normal forms of the protein.

In the infectious disease setting, we are working to create accurate and sensitive serological assays to potentially detect the presence of neutralizing antibodies that arise in response to a specific infection, such as COVID-19.

About ProMIS Neurosciences, Inc.

ProMIS Neurosciences, Inc. is a development stage biotechnology company whose unique core technology is the ability to rationally predict the site and shape (conformation) of novel targets known as Disease Specific Epitopes (DSEs) on the molecular surface of proteins. In neurodegenerative diseases, such as Alzheimer’s, ALS and Parkinson’s disease, the DSE’s are misfolded regions on otherwise normal proteins. In the infectious disease setting, these disease-specific epitopes represent peptide antigens that can be used as an essential component to create accurate and sensitive serological assays to detect the presence of antibodies that arise in response to a specific infection, such as COVID-19. These peptide antigens can also be used to create potential therapeutic antibodies to treat active infection, as well as serve as the basis for development of vaccines. ProMIS is headquartered in Toronto, Ontario, with offices in Cambridge, Massachusetts. ProMIS is listed on the Toronto Stock Exchange under the symbol PMN, and on the OTCQB Venture Market under the symbol ARFXF.