EU and US could reach trade deal this weekend - Reuters
ProMIS Neurosciences Inc. (NASDAQ:PMN) announced Monday it has mutually agreed with BTIG, LLC to terminate its At The Market Offering Agreement, effective immediately. The agreement, originally established on January 5, 2024, allowed the company to offer and sell up to $25 million of its common shares through BTIG as agent. Prior to the termination, 75,862 shares had been sold for gross proceeds of $190,274, leaving $24.8 million of shares unsold. The company stated it will not offer or sell any additional shares under the program. No termination penalties are associated with ending the agreement.
Separately, ProMIS Neurosciences disclosed that the U.S. Food and Drug Administration has granted Fast Track Designation to PMN310, its lead therapeutic candidate in development for the treatment of Alzheimer’s disease. The company also reported that in May, it received Data and Safety Monitoring Board approval to escalate dosing to the second 10 mg/kg cohort in its Phase 1b clinical trial of PMN310 in Alzheimer’s patients. As of Monday, the company had not observed any cases of amyloid-related imaging abnormalities, including brain swelling or microhemorrhages, during the trial.
These disclosures are based on a statement included in a recent SEC filing.
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