ProMIS Neurosciences Inc. Common Shares (ON) (PMN)

FairStock Score: 13/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach this as a Graham-style bargain hunter, and ProMIS fails the first test: it is a pre-revenue biotechnology operation, not a business with stable earnings. In fiscal Q2 2026, the quarter ended 2026-06-30, it reported a net loss of $11.7 million and diluted EPS of -$1.28. In fiscal Q1 2026, the quarter ended 2026-03-31, the net loss was $8.2 million and EPS was -$1.26. For FY2025, the year ended 2025-12-31, the net loss was $39.7 million and EPS was -$22.61. FY2024 showed net income of $2.8 million and EPS of $2.63, while FY2023 had a net loss of $13.2 million and EPS of -$1.07. That pattern leads FairStock to classify it as a TURNAROUND, meaning a loss in the latest year after earlier profits. The moat is unproven: the ProMIS platform and PMN310 and PMN267 may be scientifically interesting, but there is no reported revenue to demonstrate pricing power, recurring cash flow, or competitive durability. Financial health is poor on the numbers I have: trailing free cash flow is -$42.1 million, FCF yield is -54.2% (FairStock calculation), ROE is -172.30%, ROCE is -81.06%, and Piotroski F-Score is 1/9. The P/B of 1.57 and Altman Z-Score of 3.72 are less alarming, but at a $77.7 million market cap, the company is burning cash at a rate that could force financing. With a P/E of -0.74 (FairStock calculation tied to the $8.66 close on 2026-10-13), the price does not offer a Graham margin of safety. FairStock Score 13/100 confirms this is speculative, not a value investment.

In plain English: ProMIS Neurosciences is a tiny healthcare company trying to develop antibody treatments for brain diseases like Alzheimer's. It reports no revenue and has been losing money; its most recent filed quarter lost $11.7 million, and its yearly loss was $39.7 million in fiscal 2025. At $8.66 a share, the company is valued at about $77.7 million, but with no profits and heavy cash use, the price looks expensive rather than cheap against its current numbers.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer