PMN · ProMIS Neurosciences, Inc.

PMN310 Trial Acceleration Drives R&D Spending

General and Administrative Cost Discipline

Cash Burn and Balance Sheet Strength

EPS Dilution from Equity Raise

Diluted earnings per share worsened to -$1.26 from -$0.21 in the prior year quarter, reflecting both the larger net loss and a significant increase in weighted-average shares outstanding following the January 2026 equity raise. The share count increase was driven by the issuance of common stock and warrants in the PIPE transaction.

Outlook and Risks

Management reiterated expectations of continued losses and the need for additional funding beyond 2027. The company's ability to raise capital will depend on clinical data readouts, particularly the PMN310 interim analysis in Q3 2026 and top-line results in early 2027. If data are positive, the company may pursue further equity or partnership financing. Key risks include trial execution, regulatory outcomes, and potential dilution from future capital raises.