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GlobeNewsWire
1 month ago
ProMIS Neurosciences Announces Up to $175 Million Private Placement Financing
Extends cash runway into 2028 Proceeds expected to enable completion of ProMIS' landmark Phase 1b AD study and support execution of key clinical milestones Blinded 6-month top-line data expected mid-2026; 12-month top-line data expected toward end of 2026 CAMBRIDGE, Massachusetts , Jan. 30, 2026 (GLOBE NEWSWIRE) -- ProMIS Neurosciences Inc. (Nasdaq: PMN) (“ProMIS” or the “Company”), a clinical-stage biotechnology company focused on the generation and development of antibody therapeutics and vaccines targeting toxic misfolded proteins in neurodegenerative diseases, such as Alzheimer's disease (AD), amyotrophic lateral sclerosis (ALS) and Parkinson's disease (PD), today announced that it has entered into a securities purchase agreement with certain new and existing institutional and accredited investors to issue and sell up to an aggregate of approximately $175 million comprised of (i) 6,815,296 common shares, no par value (the “Common Shares”), (ii) Common Share Warrants to purchase 6,915,296 Common Shares or Pre-Funded Warrants in lieu thereof (the “Common Share Warrants”), and (iii) Pre-Funded Warrants to purchase 100,000 Common Shares (the “Pre-Funded Warrants”, and the Common Shares issuable upon exercise of the Common Share Warrants and Pre-Funded Warrants, the “Warrant Shares”). 6,090,075 Common Shares were sold at a price of $10.77 per Common Share, 100,000 Pre-Funded Warrants were sold at a price of $10.77 less an exercise price $0.0001 per Warrant Share and 725,221 Common Shares were sold at a price of $12.13 per Common Share to certain affiliates and insiders of the Company.
