ProMIS Neurosciences (TSX:PMN) shared its financial and operational results for the second quarter of 2017.
As quoted in the press release:
Commenting on the update, Elliot Goldstein, M.D., ProMIS President and CEO, stated, “We are pleased with the substantial progress achieved at ProMIS. Our main focus now is to advance the development of our lead product candidates for Alzheimer’s disease, PMN310 and PMN350, with particular emphasis on the preclinical program to differentiate our leads compared to competitive antibody products in development. We remain confident that our monoclonal antibody programs focused on selectively targeting the toxic, prion-like forms of Amyloid beta may lead to best in class therapies and significant long-term value creation.”
Results of Operations – Three months ended June 30, 2017 and 2016
The net loss for the three months ended June 30, 2017 was $1,903,396, compared to a net loss of $711,942 for the three months ended June 30, 2016. The increased loss in the current period reflects the costs associated with operating the Company’s AD therapeutics program, supporting its patent portfolio, associated general corporate expenditures and higher stock-based compensation.