ProMIS Neurosciences, Inc.
PMNHealthcare|Biotechnology|CA
$4.16
+0.51 (+13.97%)
DCF Value
$1.51
Tangible Book / Share
$5.40
Cash / Share
$5.85
Financials
Financial Snapshot
Market Cap
$37.3M
Enterprise Value
-$16.1M
Revenue (TTM)
$0.00
Net Income (TTM)
-$42.2M
Cash & Investments
$53.5M
Net Cash
$53.5M
Free Cash Flow (TTM)
-$42.0M
Operating CF (TTM)
-$42.0M
Debt/Equity
0.00
Cash Runway & Burn Rate
Cash on Hand
$53.5M
Quarterly Burn
$10.5M
Monthly Burn
$3.5M
Est. Runway
~5.1 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $753.2K | $1.4M | $2.4M | $1.7M | $1.1M | $21.5M | $10.8M | $12.6M | $13.3M | $6.2M | $53.5M | |
| Operating Cash Flow | -$2.6M | -$4.5M | -$6.3M | -$6.1M | -$4.4M | -$9.4M | -$22.9M | -$10.8M | -$27.2M | -$28.1M | -$42.0M | |
| Free Cash Flow | -$1.9M | -$4.5M | -$6.3M | -$6.1M | -$4.5M | -$9.4M | -$22.9M | -$10.8M | -$27.2M | -$28.1M | -$42.0M | |
| Capital Expenditure | $2.6M | $0.00 | $5.45 | $0.00 | -$108.7K | -$6.1K | -$2.7K | $0.00 | $0.00 | $0.00 | $0.00 | |
| Financing Cash Flow | $1.8M | $5.3M | $6.9M | $5.4M | $3.8M | $25.6M | $8.7M | $17.7M | $27.9M | $20.9M | $91.1M |
R&D Spending
R&D (TTM)
$35.7M
R&D Intensity
—
R&D Growth vs Prior
+6.8%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.0K | $9.9K | $348.74 | $1.2K | $1.6K | $16.7K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $1.4M | $3.2M | $5.4M | $4.7M | $3.2M | $4.9M | $16.09B | $7.9M | $10.6M | $33.4M | $35.7M | |
| R&D % of Revenue | 69326.8% | 31836.3% | 1559904.3% | 393953.2% | 203396.1% | 29671.3% | — | — | — | — | — | |
| SG&A | $1.2M | $1.6M | $2.0M | $2.7M | $2.5M | $3.3M | $7.29B | $6.4M | $6.2M | $6.8M | $7.8M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.0K | $9.9K | $348.74 | $1.2K | $1.6K | $16.7K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $1.9M | $3.7M | $0.00 | $4.7M | $3.2M | $5.9M | $0.00 | $10.4M | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $2.0K | $7.9K | $348.74 | -$4.7M | -$3.2M | -$5.8M | $0.00 | -$10.4M | $0.00 | $0.00 | $0.00 | |
| R&D | $1.4M | $3.2M | $5.4M | $4.7M | $3.2M | $4.9M | $16.09B | $7.9M | $10.6M | $33.4M | $35.7M | |
| SG&A | $1.2M | $1.6M | $2.0M | $2.7M | $2.5M | $3.3M | $7.29B | $6.4M | $6.2M | $6.8M | $7.8M | |
| Operating Income | -$2.6M | -$6.0M | -$7.5M | -$12.1M | -$5.7M | -$10.6M | -$23.38B | -$18.9M | -$16.8M | -$40.2M | -$43.4M | |
| Interest Expense | $15.9K | $5.6K | $0.00 | $0.00 | $0.00 | $416.3K | $282.1M | $201.4K | $76.8K | $0.00 | $0.00 | |
| Pretax Income | -$2.6M | -$6.0M | -$7.5M | -$7.4M | -$5.7M | -$12.5M | -$18.06B | -$17.5M | $2.8M | -$39.7M | -$42.2M | |
| Net Income | -$2.6M | -$4.8M | -$7.5M | -$7.4M | -$5.7M | -$12.0M | -$18.06B | -$17.5M | $2.8M | -$39.7M | -$42.2M | |
| EPS (Diluted) | -22.75 | -35.00 | -46.75 | -42.87 | -29.74 | -51.77 | -60.25 | -35.50 | 2.75 | -22.61 | -16.89 | |
| EBITDA | -$2.6M | -$4.8M | -$7.5M | -$7.4M | -$5.6M | -$9.3M | -$17.78B | -$17.8M | $2.9M | -$39.7M | -$42.7M | |
| Shares Out. (M) | 0.11 | 0.14 | 0.16 | 0.17 | 0.19 | 0.23 | 0.30 | 0.49 | 1.06 | 1.76 | 9.14 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $712.0K | $1.7M | $2.4M | $1.7M | $1.0M | $21.4M | $10.7M | $12.6M | $13.3M | $6.1M | $53.4M | |
| Short-Term Investments | $41.2K | $32.9K | $41.6K | $41.8K | $76.7K | $50.7K | $79.9K | $32.4K | $33.1K | $33.8K | $33.8K | |
| Total Current Assets | $897.6K | $2.1M | $2.9M | $2.0M | $1.2M | $22.4M | $12.6M | $13.6M | $18.9M | $9.2M | $56.7M | |
| Total Assets | $967.8K | $2.2M | $3.0M | $2.1M | $1.4M | $22.4M | $12.6M | $13.6M | $18.9M | $9.2M | $56.7M | |
| Total Current Liabilities | $898.4K | $637.5K | $1.8M | $1.7M | $2.4M | $1.2M | $11.7M | $9.3M | $2.2M | $10.4M | $7.2M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $4.9M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $898.4K | $637.5K | $1.8M | $1.7M | $2.4M | $15.3M | $15.0M | $9.9M | $2.4M | $10.4M | $7.3M | |
| Stockholders' Equity | $69.4K | $1.5M | $1.2M | $398.1K | -$1.0M | $7.2M | -$2.5M | $3.8M | $16.5M | -$1.3M | $49.4M | |
| Retained Earnings | -$42.0M | -$48.0M | -$58.2M | -$65.6M | -$71.2M | -$78.6M | -$146.0M | -$93.5M | -$90.7M | -$130.4M | -$150.4M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.6M | -$4.5M | -$6.3M | -$6.1M | -$4.4M | -$9.4M | -$22.9M | -$10.8M | -$27.2M | -$28.1M | -$42.0M | |
| Capital Expenditure | $2.6M | $0.00 | $5.45 | $0.00 | -$108.7K | -$6.1K | -$2.7K | $0.00 | $0.00 | $0.00 | $0.00 | |
| Free Cash Flow | -$1.9M | -$4.5M | -$6.3M | -$6.1M | -$4.5M | -$9.4M | -$22.9M | -$10.8M | -$27.2M | -$28.1M | -$42.0M | |
| Investing Cash Flow | -$152.00 | -$163.00 | -$151.00 | -$208.00 | -$111.9K | $95.9K | -$2.7K | -$1.3K | -$693.00 | -$702.00 | -$703.00 | |
| Financing Cash Flow | $1.8M | $5.3M | $6.9M | $5.4M | $3.8M | $25.6M | $8.7M | $17.7M | $27.9M | $20.9M | $91.1M | |
| Issuance of Stock | $1.7M | $5.3M | $5.5M | $0.00 | $0.00 | $25.6M | $6.7M | $17.7M | $27.8M | $20.9M | $91.0M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | -$89.3K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $425.3K | $552.1K | $789.2K | $647.4K | $414.5K | $0.00 | $655.2K | $271.5K | $825.8K | $857.6K | $857.4M | |
| Net Change in Cash | -$142.2K | $777.5K | $513.9K | -$727.9K | -$632.7K | $16.2M | -$14.9M | $6.7M | $693.0K | -$7.2M | $48.9M |
Dilution Tracker
Shares outstanding grew 822.7% over 5 years — significant dilution
Shares Outstanding
9M
5-Year Share Growth
+822.7%
Stock Issuance (TTM)
$91.0M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 0.11 | 0.14 | 0.16 | 0.17 | 0.19 | 0.23 | 0.30 | 0.49 | 1.06 | 1.76 | 9.14 | |
| Change vs Prior % | — | 21.1% | 16.2% | 8.6% | 9.9% | 21.5% | 29.7% | 63.8% | 115.3% | 66.0% | 420.4% | |
| Stock Issuance | $1.7M | $5.3M | $5.5M | $0.00 | $0.00 | $25.6M | $6.7M | $17.7M | $27.8M | $20.9M | $91.0M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $425.3K | $552.1K | $789.2K | $647.4K | $414.5K | $0.00 | $655.2K | $271.5K | $825.8K | $857.6K | $857.4M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 100.0% | 79.5% | 100.0% | -393853.2% | -203296.1% | -35031.9% | — | — | — | — | — | |
| Operating Margin % | -127804.9% | -60766.7% | -2140431.6% | -1009282.5% | -361814.2% | -63350.5% | — | — | — | — | — | |
| Net Margin % | -128395.3% | -48380.5% | -2140431.6% | -615329.4% | -361814.2% | -71819.3% | — | — | — | — | — | |
| EBITDA Margin % | -127556.9% | -48269.8% | -2139026.8% | -614617.2% | -360823.4% | -55858.2% | — | — | — | — | — | |
| FCF Margin % | -94534.3% | -45804.0% | -1819727.4% | -506627.7% | -285199.4% | -56645.5% | — | — | — | — | — | |
| ROE % | -3702.1% | -312.2% | -645.6% | -1857.8% | 557.4% | -167.4% | 736663.9% | -466.4% | 16.9% | 3155.8% | -143.1% | |
| ROA % | -265.6% | -220.5% | -251.7% | -356.7% | -408.9% | -53.4% | -143379.9% | -128.5% | 14.7% | -432.6% | -74.5% | |
| ROIC % | -1344.6% | -392.1% | -645.6% | -3047.2% | 557.4% | -49.7% | -2512026.9% | -442.6% | -100.8% | 3267.2% | -87.8% | |
| R&D / Revenue % | 69326.8% | 31836.3% | 1559904.3% | 393953.2% | 203396.1% | 29671.3% | — | — | — | — | — |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | -90.0% | 394.3% | -96.5% | 244.7% | 30.2% | 965.8% | -100.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | 100.2% | 293.0% | -95.6% | -1357575.1% | 32.8% | -83.7% | 100.0% | 0.0% | 100.0% | 0.0% | |
| Operating Income | -22.0% | -135.0% | -24.1% | -62.5% | 53.3% | -86.6% | -221156.8% | 99.9% | 11.0% | -138.7% | |
| Net Income | -68.2% | -86.2% | -55.9% | 0.9% | 23.4% | -111.6% | -150676.9% | 99.9% | 115.9% | -1529.3% | |
| EPS (Diluted) | -7.1% | -53.8% | -33.6% | 8.3% | 30.6% | -74.1% | -16.4% | 41.1% | 107.7% | -922.2% | |
| Operating Cash Flow | -52.2% | -74.7% | -40.0% | 4.0% | 28.5% | -116.8% | -142.4% | 52.6% | -150.7% | -3.4% | |
| Free Cash Flow | -66.9% | -139.5% | -40.0% | 4.0% | 26.7% | -111.7% | -142.3% | 52.6% | -150.7% | -3.4% | |
| R&D Expense | 81.7% | 127.0% | 72.7% | -13.0% | -32.8% | 55.5% | 324947.4% | -100.0% | 34.9% | 213.8% | |
| SG&A Expense | 71.9% | 39.8% | 23.5% | 31.5% | -6.8% | 33.5% | 220000.8% | -99.9% | -3.0% | 9.7% | |
| Total Assets | -15.9% | 124.3% | 36.6% | -30.1% | -33.2% | 1520.5% | -43.9% | 8.1% | 38.9% | -51.4% | |
| Book Value / Share | -92.6% | 1723.3% | -35.1% | -68.3% | -332.6% | 678.4% | -126.4% | 193.4% | 108.3% | -104.5% | |
| Debt | 2.2% | -100.0% | 0.0% | 0.0% | 0.0% | 0.0% | -100.0% | 0.0% | 0.0% | 0.0% | |
| Diluted Shares | 57.3% | 21.1% | 16.2% | 8.6% | 9.9% | 21.5% | 29.7% | 63.8% | 115.3% | 66.0% |
Valuation
P/E (TTM)At Loss
P/S0.00
10Y Low / Med / High2893.74 / 18583.82 / 187190.07
P/B0.77
10Y Low / Med / High1.49 / 28.70 / 328.74
EV/EBITDA0.38
EV/Revenue0.00
10Y Low / Med / High1905.33 / 17926.33 / 180337.90
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$1.51
Tangible Book / Share
$5.40
Net Current Assets / Share
$5.51
Graham Net-Net
$5.05
Cash / Share
$5.85
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -8.86 | -9.17 | -8.76 | -5.90 | -5.15 | -4.03 | -2.44 | -0.81 | 8.62 | -0.30 | -0.25 | |
| P/S Ratio | 11401.19 | 4447.74 | 187190.07 | 36457.59 | 18583.82 | 2893.74 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | 328.74 | 28.70 | 56.46 | 110.07 | -28.63 | 6.74 | -17.98 | 3.77 | 1.49 | -9.53 | 0.77 | |
| EV/EBITDA | -8.71 | -8.86 | -8.43 | -5.71 | -4.97 | -3.41 | -0.00 | -0.09 | 3.95 | -0.15 | 0.38 | |
| EV/Revenue | 11105.90 | 4276.97 | 180337.90 | 35075.13 | 17926.33 | 1905.33 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-0.82
Distress
Piotroski F-Score
2
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | $4.4M |
| Net Income | -$8.6M | -$7.9M | -$6.1M |
| EPS | $-5.10 | $-3.67 | $-3.37 |
| # Analysts (EPS) | 4 | 7 | 3 |