ProMis shares sink after Acumen’s drug fails — SkimNews
Get the Health newsletter
Daily health & science — research, biotech, public health, the studies worth knowing. Free.
- ProMis Neurosciences develops an amyloid-targeting treatment for Alzheimer’s disease.
- ProMis shares sold off sharply last week in reaction to Acumen Pharmaceuticals’ announcement about its own Alzheimer’s drug.
- Acumen Pharmaceuticals said its drug, which has a similar mechanism to ProMis’ treatment, failed to slow cognitive or functional decline versus placebo in a mid-stage study.
- Neil Warma said the market reaction was, in his opinion, a “complete overreaction” that was “not justified,” rejecting investors’ assumption that Acumen’s failure presaged a similar fate for ProMis’ drug.
Why it matters: ProMis shareholders lost ground in a sharp selloff tied to one mid-stage, placebo-controlled Acumen result, not an announced result from ProMis’ drug. With two distinct, similarly targeted programs, Warma’s rejection of the market’s read-through is the key counterpoint to that repricing.
Ask SkimNews
