Promis is a pre-clinical-stage neurodegenerative disease biotech company whose lead drug candidate is PMN310, a potentially best-in-class Alzheimer’s drug.
Leaving aside PMN310 in his report, Uddin points to four groups of potential candidates: (1) PMN’s several anti-SOD1 mAb candidates currently in pre-clinical studies; (2) PMN’s TDP43 program which is currently in the lead candidate selection stage; (3) PMN’s the α- synuclein project, for which the company is currently in the lead candidate selection stage; and (4) the tau protein, for which PMN has identified several areas to target.
Uddin says that a monetization opportunity awaits for Promis.
“We expect PMN to out-license these targets/candidates. Very significant licensing deals have been forged by big pharma for the drug targets PMN is focused on. We expect a licensing deal to be forged in Q2 or Q3 2019 – multiple players are currently at the table – to be conservative, we are not assuming any transaction in our model at this time,” says Uddin on Wednesday.
The analyst is maintaining his “Speculative Buy” rating for PMN with a price target of $0.50, representing a projected 12-month return of 56 per cent at the time of publication.
______________________________________________________
An Engine for MedTech Innovation
This article is brought to you by Relay Medical Corp. (CSE:RELA)
Relay Medical is an integrated incubator/accelerator platform, developing a portfolio of medical technologies for pre-commercial exits in the Healthtech marketplace. Click on the logo for more info on this up-and-coming company…
___________________________________________________________
Following a widely applauded first quarter beat, Roth MKM analyst Rohit Kulkarni has maintained his "Buy" rating on Alphabet (Alphabet… [Read More]
Following an acquisition, Echelon Capital Markets analyst Stefan Quenneville has maintained his "Buy" rating on Nova Leap Health (Nova Leap… [Read More]
The stock has been flat since November, but Citi analyst Tyler Radke thinks there is now money to be made… [Read More]
Following the company's fourth quarter results, Eight Capital analyst Kiran Sritharan has maintained his "Buy" rating on Sabio Holdings (Sabio… [Read More]
He feels the company made forward progress in its recent quarterly results, but Roth MKM analyst Rohit Kulkarni wants to… [Read More]
Following the company's first quarter results, Desjardins analyst Benoit Poirier has raised his price target on Bombardier (Bombardier Stock Quote,… [Read More]