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The latest update is out from ProMIS Neurosciences ( (PMN) ).
On January 8, 2025, ProMIS Neurosciences Inc. received a deficiency letter from Nasdaq due to its common shares not meeting the minimum bid price requirement of $1.00 for 30 consecutive business days. While the company’s shares continue to trade on the Nasdaq Capital Market, it has been granted an additional 180 days until December 29, 2025, to regain compliance. ProMIS plans to monitor its share price and consider options like a reverse stock split to meet the requirement, but there is no assurance of success. Failure to comply by the deadline could result in delisting, though the company can appeal such a decision.
The most recent analyst rating on (PMN) stock is a Buy with a $3.00 price target. To see the full list of analyst forecasts on ProMIS Neurosciences stock, see the PMN Stock Forecast page.
Spark’s Take on PMN Stock
According to Spark, TipRanks’ AI Analyst, PMN is a Underperform.
ProMIS Neurosciences faces significant financial hurdles, with no current revenue and ongoing operational losses, leading to a weak overall financial performance. The technical analysis indicates the stock is under pressure, and the valuation reflects challenges with a negative P/E ratio. While recent corporate events show promise in terms of future growth potential, they do not offset the immediate financial challenges. The overall score reflects the need for cautious optimism, as the company must improve its financials and achieve sustainable revenue generation.
To see Spark’s full report on PMN stock, click here.
More about ProMIS Neurosciences
ProMIS Neurosciences Inc. operates in the biotechnology industry, focusing on developing therapeutic solutions for neurodegenerative diseases. The company is primarily engaged in the research and development of treatments targeting misfolded proteins implicated in diseases such as Alzheimer’s and ALS.
Average Trading Volume: 47,737
Technical Sentiment Signal: Sell
Current Market Cap: $14.13M
For detailed information about PMN stock, go to TipRanks’ Stock Analysis page.