ProMIS Neurosciences Inc. (NASDAQ: PMN) will consolidate its outstanding common shares in a one‑for‑twenty‑five reverse split that will take effect at 12:01 a.m. Eastern Time on November 28 2025. The transaction will reduce the number of shares from roughly 53.8 million to about 2.15 million, keeping the company’s market capitalization unchanged while raising the per‑share price above the $1.00 minimum required by Nasdaq.
The reverse split is intended to cure a bid‑price deficiency that has kept the stock below the exchange’s minimum threshold. Nasdaq has extended ProMIS’s compliance period to December 29 2025, giving the company additional time to bring its share price back into compliance. The company’s board approved the split after shareholders authorized a potential consolidation ratio between one‑for‑five and one‑for‑twenty‑five at a special meeting on November 17 2025.
All outstanding warrants, equity‑incentive‑plan shares, and other equity securities will be adjusted proportionally to the new share count. Fractional shares will not be issued; holders of fractional shares will receive cash compensation instead of shares, ensuring a clean consolidation of the share base.
ProMIS is a clinical‑stage biotechnology firm focused on neurodegenerative diseases, with its lead Alzheimer’s candidate PMN310 in Phase 1b trials. The company has no current revenue and continues to report operating losses, a situation that has prompted a “WEAK” financial health rating from independent analysts. The reverse split is therefore a procedural step rather than a sign of operational improvement, but it is essential for maintaining Nasdaq listing status and preserving access to capital markets.
Management emphasized that the reverse split is a necessary measure to preserve listing status and support future capital‑raising efforts. “The board says the split is intended to increase the market price and cure a Nasdaq bid‑price deficiency,” a company spokesperson said. “ProMIS believes the reverse split will increase its share price sufficiently to cure the Nasdaq listing deficiency.”
The market reaction to the announcement was negative, reflecting investor concerns about the company’s financial position and the need for a reverse split to maintain compliance with Nasdaq’s listing rules.
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