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DiaMedica Therapeutics Provides a Business Update and Announces Full Year 2024 Financial Results

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DiaMedica Therapeutics (DMAC) reported its full year 2024 financial results and provided key business updates. The company is advancing two main clinical programs: a Phase 2/3 trial for acute ischemic stroke (ReMEDy2) and a Phase 2 trial for preeclampsia.

Key financial highlights include:

  • Cash position of $44.1 million as of December 31, 2024
  • Net loss of $24.4 million ($0.60 per share)
  • R&D expenses increased to $19.1 million
  • G&A expenses decreased to $7.6 million

The company expects preliminary topline safety and efficacy data from Part 1A of the preeclampsia study in Q2 2025. The ReMEDy2 trial has reached 30 activated hospital sites, with interim analysis expected in H1 2026. Cash runway extends into Q3 2026.

DiaMedica Therapeutics (DMAC) ha riportato i risultati finanziari dell'intero anno 2024 e ha fornito aggiornamenti chiave sull'attività. L'azienda sta portando avanti due principali programmi clinici: uno studio di Fase 2/3 per l'ictus ischemico acuto (ReMEDy2) e uno studio di Fase 2 per la preeclampsia.

Le principali evidenze finanziarie includono:

  • Posizione di cassa di $44,1 milioni al 31 dicembre 2024
  • Perdita netta di $24,4 milioni ($0,60 per azione)
  • Le spese per R&S sono aumentate a $19,1 milioni
  • Le spese generali e amministrative sono diminuite a $7,6 milioni

L'azienda prevede dati preliminari sulla sicurezza e l'efficacia dalla Parte 1A dello studio sulla preeclampsia nel secondo trimestre del 2025. Lo studio ReMEDy2 ha raggiunto 30 siti ospedalieri attivati, con un'analisi intermedia prevista per la prima metà del 2026. La disponibilità di cassa si estende fino al terzo trimestre del 2026.

DiaMedica Therapeutics (DMAC) informó sus resultados financieros del año completo 2024 y proporcionó actualizaciones clave sobre el negocio. La compañía está avanzando en dos programas clínicos principales: un ensayo de Fase 2/3 para el accidente cerebrovascular isquémico agudo (ReMEDy2) y un ensayo de Fase 2 para la preeclampsia.

Los aspectos financieros clave incluyen:

  • Posición de efectivo de $44.1 millones al 31 de diciembre de 2024
  • Pérdida neta de $24.4 millones ($0.60 por acción)
  • Los gastos de I+D aumentaron a $19.1 millones
  • Los gastos generales y administrativos disminuyeron a $7.6 millones

La compañía espera datos preliminares sobre seguridad y eficacia de la Parte 1A del estudio de preeclampsia en el segundo trimestre de 2025. El ensayo ReMEDy2 ha alcanzado 30 sitios hospitalarios activados, con un análisis intermedio esperado en la primera mitad de 2026. La disponibilidad de efectivo se extiende hasta el tercer trimestre de 2026.

DiaMedica Therapeutics (DMAC)는 2024년 전체 연도 재무 결과를 발표하고 주요 사업 업데이트를 제공했습니다. 이 회사는 두 가지 주요 임상 프로그램을 진행하고 있습니다: 급성 허혈성 뇌졸중을 위한 2/3상 시험(ReMEDy2)과 자간전증을 위한 2상 시험입니다.

주요 재무 하이라이트는 다음과 같습니다:

  • 2024년 12월 31일 기준 현금 보유액 $44.1백만
  • 순손실 $24.4백만 ($0.60 주당)
  • 연구개발(R&D) 비용이 $19.1백만으로 증가
  • 일반 및 관리(G&A) 비용이 $7.6백만으로 감소

회사는 2025년 2분기에 자간전증 연구의 1A 부분에 대한 초기 안전성 및 유효성 데이터를 예상하고 있습니다. ReMEDy2 시험은 30개의 활성화된 병원 사이트에 도달했으며, 중간 분석은 2026년 상반기에 예상됩니다. 현금 운영 자금은 2026년 3분기까지 연장됩니다.

DiaMedica Therapeutics (DMAC) a publié ses résultats financiers pour l'année complète 2024 et a fourni des mises à jour clés sur ses activités. L'entreprise avance deux programmes cliniques principaux : un essai de phase 2/3 pour l'accident vasculaire cérébral ischémique aigu (ReMEDy2) et un essai de phase 2 pour la prééclampsie.

Les points saillants financiers comprennent :

  • Position de trésorerie de $44,1 millions au 31 décembre 2024
  • Perte nette de $24,4 millions ($0,60 par action)
  • Les dépenses de R&D ont augmenté à $19,1 millions
  • Les dépenses générales et administratives ont diminué à $7,6 millions

L'entreprise s'attend à des données préliminaires sur la sécurité et l'efficacité de la Partie 1A de l'étude sur la prééclampsie au deuxième trimestre 2025. L'essai ReMEDy2 a atteint 30 sites hospitaliers activés, avec une analyse intermédiaire prévue pour le premier semestre 2026. La trésorerie est disponible jusqu'au troisième trimestre 2026.

DiaMedica Therapeutics (DMAC) hat seine Finanzzahlen für das gesamte Jahr 2024 veröffentlicht und wichtige Geschäftsupdates bereitgestellt. Das Unternehmen verfolgt zwei Hauptklinische Programme: eine Phase 2/3-Studie für einen akuten ischämischen Schlaganfall (ReMEDy2) und eine Phase 2-Studie für Präeklampsie.

Wichtige finanzielle Highlights umfassen:

  • Cash-Position von $44,1 Millionen zum 31. Dezember 2024
  • Nettoverlust von $24,4 Millionen ($0,60 pro Aktie)
  • F&E-Ausgaben stiegen auf $19,1 Millionen
  • Allgemeine und Verwaltungskosten sanken auf $7,6 Millionen

Das Unternehmen erwartet im 2. Quartal 2025 vorläufige Sicherheits- und Wirksamkeitsdaten aus Teil 1A der Präeklampsiestudie. Die ReMEDy2-Studie hat 30 aktivierte Krankenhausstandorte erreicht, mit einer Zwischenanalyse, die für das erste Halbjahr 2026 erwartet wird. Die Cash-Reserven reichen bis ins 3. Quartal 2026.

Positive
  • Data Safety Monitoring Board confirmed positive safety review for ReMEDy2 trial
  • Expanded clinical pipeline with new preeclampsia program
  • Strong cash position of $44.1M provides runway into Q3 2026
  • Increased site activation to 30 hospitals for ReMEDy2 trial
Negative
  • Net loss increased to $24.4M from $19.4M year-over-year
  • R&D expenses increased 46% to $19.1M
  • Cash burn increased with net cash used in operations rising to $22.1M from $18.7M
  • Delays in site activation and slower than expected enrollment in ReMEDy2 trial

Insights

DiaMedica's financial results reflect a biotech company in active development phase with a mixed financial picture. The $44.1 million cash position (down from $52.9 million YoY) provides runway into Q3 2026, which is sufficient to reach critical clinical milestones in both programs. The annual cash burn rate has increased to $22.1 million from $18.7 million, reflecting expanded clinical activities.

The net loss of $24.4 million ($0.60 per share) represents a 25.8% year-over-year increase from 2023, primarily driven by a 45.8% jump in R&D expenses to $19.1 million. This R&D acceleration is a necessary investment in their clinical pipeline, but indicates continued losses ahead as management projects further moderate increases in research spending.

The decline in G&A expenses to $7.6 million from $8.2 million demonstrates some operational discipline. With a current market cap of $250.6 million, DiaMedica is trading at approximately 5.7x cash, suggesting investors are placing moderate value on their clinical assets beyond the balance sheet.

The appointment of Daniel O'Connor, who previously led Ambrx to a $2 billion acquisition by Johnson & Johnson, potentially signals board-level interest in creating strategic optionality through partnerships or transactions.

DiaMedica's dual clinical programs represent distinct risk-reward profiles and timelines. The preeclampsia program is progressing on schedule with multiple dosing cohorts completed and preliminary data expected in Q2 2025. This relatively near-term catalyst could provide important validation for DM199 in this high-unmet-need indication, which currently lacks effective pharmacological interventions.

The acute ischemic stroke (AIS) program shows concerning timeline extensions. Despite reaching 30 activated hospital sites, enrollment delays have pushed the interim analysis to first half of 2026, representing a significant timeline shift. The implementation of protocol version 5.0 with expanded eligibility criteria was necessary to address recruitment challenges but raises questions about execution efficiency.

The positive DSMB review confirming safety of the new intravenous dosing regimen removes one risk factor for the AIS program. However, the company faces the persistent challenge of clinical trial enrollment in stroke - a notoriously difficult therapeutic area with numerous failed development programs.

DiaMedica's strategy of pursuing both indications creates pipeline diversification, with the preeclampsia program potentially delivering earlier proof-of-concept while the larger AIS program progresses. Both indications address substantial unmet medical needs, but the timeline extension for the AIS program creates uncertainty around DiaMedica's development pathway and potential regulatory approval timeframes.

Conference Call and Webcast March 18 at 8:00 AM Eastern Time / 7:00 AM Central Time 

  • Preeclampsia Phase 2 Trial Preliminary Topline Safety and Efficacy Data from Part 1A of the Study Expected in the Second Quarter of 2025
  • Acute Ischemic Stroke Phase 2/3 Program Enrollment Ongoing
  • Appointed Experienced Biotech Executive Daniel J. O’Connor to the Board
  • Cash Runway into Q3 2026

MINNEAPOLIS--(BUSINESS WIRE)-- DiaMedica Therapeutics Inc. (Nasdaq: DMAC), a clinical-stage biopharmaceutical company focused on developing novel treatments for acute ischemic stroke and preeclampsia, today provided a business update and financial results for the year ended December 31, 2024. Management will host a conference call Tuesday, March 18, 2025, at 8:00 AM Eastern Time / 7:00 AM Central Time to discuss its business update and full year 2024 financial results.

“We made significant progress in 2024, advancing our AIS program and expanding into preeclampsia,” said Rick Pauls, President and CEO of DiaMedica. “Both of these populations are critically underserved, representing substantial unmet medical needs and large commercial opportunities.”

Preeclampsia Phase 2 Clinical Developments

Dosing in the Phase 2 investigator-sponsored trial of DM199 for preeclampsia (DM199 For Pregnancy Complications trial – NCT06875141) began in November 2024 in South Africa and is ongoing. Multiple dosing cohorts have now been completed. Topline preliminary safety and efficacy data from Part 1A of the study is anticipated in the second quarter of 2025.

Acute Ischemic Stroke (AIS) ReMEDy2 Phase 2/3 Clinical Developments

The total number of activated study sites has reached 30 hospitals during the first quarter of 2025 for the Company’s Phase 2/3 AIS trial (the ReMEDy2 trial – NCT065216). The majority of these sites are operating under version 5.0 of the study protocol, the latest version, which expanded the pool of eligible AIS participants. While the Company has noted an increase in enrollment in the first part of 2025, with delays in site activation during 2024, the transition to version 5.0 of the protocol and slower than expected enrollment, the Company anticipates the interim analysis for sample size re-estimation on the first 200 participants in the first half of 2026; the Company notes this timing is based upon anticipated increased enrollment.

DiaMedica further reports that its data safety monitoring board (DSMB) completed its scheduled safety review of the new intravenous dosing rates implemented upon resumption of the ReMEDy2 trial. Based upon that review, the DSMB concluded that the ReMEDy2 trial should continue without modification. This pre-specified assessment was based on a comprehensive review of safety data from the first twenty (N=20) enrolled participants and no significant safety concerns were identified.

Daniel J. O’Connor Appointed to the Board

Mr. O’Connor was appointed to DiaMedica’s Board of Directors in February 2025. Most recently Mr. O’Connor served as CEO of Ambrx, where he engineered a turnaround of the company resulting in a $2 billion acquisition by Johnson & Johnson in 14 months.

Financial Results Highlights for the Year Ended December 31, 2024

  • Cash Position and Runway – Cash, cash equivalents, and short-term investments were $44.1 million as of December 31, 2024, compared to $52.9 million as of December 31, 2023. Based on its current plans, the Company anticipates its current cash, cash equivalents, and short-term investments will enable the Company to fund its planned clinical studies and support corporate operations into the third quarter of 2026.
  • Cash Flows - Net cash used in operating activities for the year ended December 31, 2024 was $22.1 million compared to $18.7 million for the year ended December 31, 2023. The increase in cash used in operating activities resulted primarily from the combination of increased net loss and the advance of deposit funds to vendors supporting the Company’s ReMEDy2 clinical trial during 2024.
  • Research and Development (R&D) – R&D expenses were $19.1 million for the year ended December 31, 2024, compared to $13.1 million for the year ended December 31, 2023. The increase was due primarily to cost increases resulting from the continuation of the ReMEDy2 clinical trial, the expansion of the clinical team, and increased manufacturing development activity. Partially offsetting this increase were cost reductions related to completion of prior clinical and non-clinical work in 2023. DiaMedica expects its R&D expenses to increase moderately relative to recent prior periods as the Company expands its ReMEDy2 trial globally and continues site activation and enrollment and expands its DM199 clinical development program into preeclampsia.
  • General and Administrative (G&A) – G&A expenses were $7.6 million for the year ended December 31, 2024, down from $8.2 million for the year ended December 31, 2023. The decrease resulted primarily from the combination of decreased legal fees and reductions in directors’ and officers’ liability insurance premiums.
  • Net Loss - Net loss was $24.4 million, or $0.60 loss per share, for the year ended December 31, 2024, compared to $19.4 million, or $0.60 loss per share, for the year ended December 31, 2023.

Conference Call and Webcast Information

DiaMedica Management will host a conference call and webcast to discuss its business update and full year 2024 financial results on Tuesday, March 18, 2025, at 8:00 AM Eastern Time / 7:00 AM Central Time:

Date:

Tuesday, March 18, 2025

Time:

7:00 AM CDT / 8:00 AM EDT

Web access:

https://app.webinar.net/yzor97w9Nvj

Dial In:

(800) 836-8184

Conference ID:

50034

Interested parties may access the conference call by dialing in or listening to the simultaneous webcast. Listeners should log on to the website or dial in 15 minutes prior to the call. The webcast will remain available for playback on DiaMedica’s website, under investor relations - events and presentations, following the earnings call and for 12 months thereafter. A telephonic replay of the conference call will be available until March 25, 2025, by dialing (888) 660-6345 (US Toll Free) and entering the replay passcode: 50034#.

About the Phase 2 Trial of DM199 for Preeclampsia

Preeclampsia (PE) is a serious pregnancy disorder that typically develops after the 20th week of gestation, characterized by high blood pressure and damage to organ systems, often the kidneys and liver. Affecting up to 8% of pregnancies worldwide, preeclampsia can pose significant risks to both the mother and baby, including risk of stroke, placental abruption, progression to eclampsia, premature delivery, and death. This Phase 2 open-label, single center, single-arm, safety and pharmacodynamic, proof-of-concept, investigator-sponsored study of DM199 in treating preeclampsia is being conducted at the Tygerberg Hospital, Cape Town, South Africa (SA), under the direction of Catherine Cluver, MD, PhD, Professor of Maternal/Fetal Medicine, Stellenbosch University, Stellenbosch, SA, in collaboration with DiaMedica. This trial will enroll up to 90 women with preeclampsia and potentially 30 subjects with fetal growth restriction.

About the Phase 2/3 ReMEDy2 Trial of DM199 for Acute Ischemic Stroke

The ReMEDy2 trial is an adaptive design, randomized, double-blind, placebo-controlled trial studying the use of the Company’s product candidate, DM199, to treat acute ischemic stroke patients. The trial is intended to enroll approximately 300 patients at up to 100 sites globally. The final sample size will be determined based upon the results of an interim analysis of 200 participants, and, if not stopped for futility, may range between 300 and 728 patients, according to a pre-determined statistical plan. Patients enrolled in the trial will be treated for three weeks with either DM199 or placebo, beginning within 24 hours of the onset of AIS symptoms, with the final follow-up at 90 days. The trial excludes patients who received mechanical thrombectomy (MT) or participants with large vessel occlusions in the intracranial carotid artery or the M1 segment for the middle cerebral, vertebral or basilary arteries or those that are otherwise eligible for MT. Participants treated with tissue plasminogen activator (tPA) or tenecteplase (TNK), (thrombolytic agents) intended to dissolve blood clots, are eligible for participation if they continue to experience a persistent neurological deficit after receiving thrombolytic treatment and meet all other trial criteria. DiaMedica believes that the ReMEDy2 trial has the potential to serve as a pivotal registration study of DM199 in this patient population.

About DM199

DM199 (rinvecalinase alfa) is a recombinant form of human tissue kallikrein-1 (rhKLK1) in clinical development for acute ischemic stroke and preeclampsia. KLK1 is a serine protease enzyme that plays an important role in the regulation of diverse physiological processes via a molecular mechanism that increases production of nitric oxide, prostacyclin and endothelium-derived hyperpolarizing factors. In the case of AIS, DM199 is intended to enhance blood flow and boost neuronal survival in the ischemic penumbra by dilating arterioles surrounding the site of the vascular occlusion and inhibition of apoptosis (neuronal cell death) while also facilitating neuronal remodeling through the promotion of angiogenesis. In preeclampsia, DM199 is intended to lower blood pressure, enhance endothelial health and improve perfusion to maternal organs and the placenta.

About DiaMedica Therapeutics Inc.

DiaMedica Therapeutics Inc. is a clinical stage biopharmaceutical company committed to improving the lives of people suffering from preeclampsia and acute ischemic stroke. DiaMedica’s lead candidate, DM199, is the first pharmaceutically active recombinant (synthetic) form of the KLK1 protein, an established therapeutic modality in Asia for the treatment of acute ischemic stroke, preeclampsia and other vascular diseases. For more information visit the Company’s website at www.diamedica.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and forward-looking information that are based on the beliefs of management and reflect management’s current expectations. When used in this press release, the words “anticipates,” “believes,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “should,” or “will,” the negative of these words or such variations thereon or comparable terminology, and the use of future dates are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include statements regarding the Company’s expectations regarding enrollment in the ReMEDy2 trial increasing substantially as a result of version 5.0 of the study protocol, the timing of the interim analysis on the first 200 participants in the first half of 2026 ; timing for topline results from Part 1A of the preeclampsia Phase 2 investigator-sponsored trial; anticipated clinical benefits and success of DM199 for the treatment of preeclampsia and acute ischemic stroke; future R&D and G&A expenses, and the Company’s cash runway into the third quarter of 2026. Such statements and information reflect management’s current view and DiaMedica undertakes no obligation to update or revise any of these statements or information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Applicable risks and uncertainties include, among others, risks and uncertainties relating to the timing of ReMEDy2 trial enrollment, regulatory applications and related filing and approval timelines; the possibility that enrollment in the ReMEDy2 trial will not increase as anticipated; the possibility of additional future adverse events associated with or unfavorable results from the ReMEDy2 trial; risks and uncertainties relating to the clinical expansion into preeclampsia and the DM199 Phase 2 trial for preeclampsia, including timing of results; the possibility of unfavorable results from DiaMedica’s ongoing or future clinical trials of DM199; the risk that existing preclinical and clinical data may not be predictive of the results of ongoing or later clinical trials; DiaMedica’s plans to develop, obtain regulatory approval for and commercialize its DM199 product candidate for the treatment of preeclampsia and acute ischemic stroke and its expectations regarding the benefits of DM199; DiaMedica’s ability to conduct successful clinical testing of DM199 and within its anticipated parameters, site activations, enrollment numbers, costs and timeframes; the adaptive design of the ReMEDy2 trial and the possibility that the targeted enrollment and other aspects of the trial could change depending upon certain factors, including additional input from the FDA and the blinded interim analysis; the perceived benefits of DM199 over existing treatment options; the potential direct or indirect impact of hospital and medical facility staffing shortages, increased tariffs and worldwide global supply chain shortages on DiaMedica’s business and clinical trials, including its ability to meet its site activation and enrollment goals; DiaMedica’s reliance on collaboration with third parties to conduct clinical trials; DiaMedica’s ability to continue to obtain funding for its operations, including funding necessary to complete current and planned clinical trials and obtain regulatory approvals for DM199 for acute ischemic stroke and preeclampsia, and the risks identified under the heading “Risk Factors” in DiaMedica’s annual report on Form 10-K for the fiscal year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission. The forward-looking information contained in this press release represents the expectations of DiaMedica as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While DiaMedica may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

 

DiaMedica Therapeutics Inc.

Condensed Consolidated Statements of Operations and Comprehensive Loss

(In thousands, except share and per share amounts)

 

 

 

 

Year Ended December 31,

 

 

 

2024

 

2023

Operating expenses:

 

 

 

 

 

 

 

Research and development

 

$

19,057

 

$

13,110

 

General and administrative

 

 

7,624

 

 

8,157

 

Total operating expenses

 

 

26,681

 

 

21,267

 

 

 

 

 

 

 

 

 

Operating loss

 

 

(26,681)

 

 

(21,267)

 

 

 

 

 

 

 

 

Other income:

 

 

 

 

 

 

 

Other income, net

 

 

2,267

 

 

1,929

 

Total other income, net

 

 

2,267

 

 

1,929

 

 

 

 

 

 

 

 

Loss before income tax expense

 

 

(24,414)

 

 

(19,338)

 

 

 

 

 

 

 

 

 

Income tax expense

 

 

(30)

 

 

(43)

 

 

 

 

 

 

 

 

Net loss

 

 

(24,444)

 

 

(19,381)

 

 

 

 

 

 

 

 

Other comprehensive income (loss)

 

 

 

 

 

 

 

Unrealized gain on marketable securities

 

 

17

 

 

80

 

 

 

 

 

 

 

 

Net loss and comprehensive loss

 

$

(24,427)

 

$

(19,301)

 

 

 

 

 

 

 

 

Basic and diluted net loss per share

 

$

(0.60)

 

$

(0.60)

 

Weighted average shares outstanding – basic and diluted

 

 

40,404,681

 

 

32,566,723

 

 

 

 

 

 

DiaMedica Therapeutics Inc.

Condensed Consolidated Balance Sheets

(In thousands, except share amounts)

 

 

 

 

December 31, 2024

 

December 31, 2023

 

 

 

 

 

 

ASSETS

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

3,025

 

$

4,543

 

Marketable securities

 

 

41,122

 

 

48,352

 

Amounts receivable

 

 

236

 

 

369

 

Prepaid expenses and other assets

 

 

227

 

 

411

 

Total current assets

 

 

44,610

 

 

53,675

 

 

 

 

 

 

 

 

Non-current assets:

 

 

 

 

 

 

 

Deposits

 

 

1,308

 

 

 

Operating lease right-of-use asset

 

 

279

 

 

354

 

Property and equipment, net

 

 

148

 

 

131

 

Total non-current assets

 

 

1,735

 

 

485

 

 

 

 

 

 

 

 

Total assets

 

$

46,345

 

$

54,160

 

 

 

 

 

 

 

 

LIABILITIES AND EQUITY

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

Accounts payable

 

$

940

 

$

926

 

Accrued liabilities

 

 

4,347

 

 

1,777

 

Finance lease obligation

 

 

13

 

 

3

 

Operating lease obligation

 

 

90

 

 

80

 

Total current liabilities

 

 

5,390

 

 

2,786

 

 

 

 

 

 

 

 

Non-current liabilities:

 

 

 

 

 

 

 

Finance lease obligation, non-current

 

 

12

 

 

1

 

Operating lease obligation, non-current

 

 

225

 

 

316

 

Total non-current liabilities

 

 

237

 

 

317

 

 

 

 

 

 

 

 

Shareholders’ equity:

 

 

 

 

 

 

 

Common shares, no par value; unlimited authorized; 42,818,660 and 37,958,000 shares issued and outstanding, as of December 31, 2024 and 2023, respectively

 

 

 

 

 

Paid-in capital

 

 

180,697

 

 

166,609

 

Accumulated other comprehensive income

 

 

23

 

 

6

 

Accumulated deficit

 

 

(140,002)

 

 

(115,558)

 

Total shareholders’ equity

 

 

40,718

 

 

51,057

Total liabilities and shareholders’ equity

 

$

46,345

 

$

54,160

 

 

 

 

 

 

 

 

 

DiaMedica Therapeutics Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

 

 

 

Year Ended December 31,

 

 

2024

 

2023

Cash flows from operating activities:

 

 

 

 

 

 

Net loss

 

$

(24,444)

 

$

(19,381)

Adjustments to reconcile net loss to net cash used in operating activities:

 

 

 

 

 

 

Share-based compensation

 

 

2,085

 

 

1,683

Amortization of discounts on marketable securities

 

 

(1,343)

 

 

(1,223)

Non-cash lease expense

 

 

75

 

 

70

Depreciation

 

 

39

 

 

30

Changes in operating assets and liabilities:

 

 

 

 

 

 

Amounts receivable

 

 

133

 

 

(287)

Prepaid expenses and other assets

 

 

184

 

 

(160)

Deposits

 

 

(1,308)

 

 

Accounts payable

 

 

14

 

 

192

Accrued liabilities

 

 

2,489

 

 

348

Net cash used in operating activities

 

 

(22,076)

 

 

(18,728)

 

 

 

 

 

 

 

Cash flows from investing activities:

 

 

 

 

 

 

Purchase of marketable securities

 

 

(50,411)

 

 

(69,410)

Maturities of marketable securities

 

 

59,000

 

 

51,135

Purchase of property and equipment

 

 

(25)

 

 

(24)

Net cash provided by (used in) investing activities

 

 

8,564

 

 

(18,299)

 

 

 

 

 

 

 

Cash flows from financing activities:

 

 

 

 

 

 

Proceeds from issuance of common shares, net of offering costs

 

 

11,747

 

 

36,848

Proceeds from the exercise of stock options

 

 

256

 

 

Principal payments on finance lease obligations

 

 

(9)

 

 

(6)

Net cash provided by financing activities

 

 

11,994

 

 

36,842

 

 

 

 

 

 

 

Net decrease in cash and cash equivalents

 

 

(1,518)

 

 

(185)

Cash and cash equivalents at beginning of period

 

 

4,543

 

 

4,728

Cash and cash equivalents at end of period

 

$

3,025

 

$

4,543

 

 

 

 

 

 

 

Supplemental disclosure of cash flow information:

 

 

 

 

 

 

Assets acquired under financing lease

 

$

30

 

$

Cash paid for income taxes

 

$

26

 

$

33

 

 

 

 

 

 

 

 

Scott Kellen

Chief Financial Officer

Phone: (763) 496-5118

skellen@diamedica.com

For Investor Inquiries:

Mike Moyer

Managing Director, LifeSci Advisors, LLC

Phone: (617) 308-4306

mmoyer@lifesciadvisors.com

Source: DiaMedica Therapeutics Inc.

FAQ

When will DiaMedica (DMAC) release preliminary data from its preeclampsia Phase 2 trial?

DiaMedica expects to release preliminary topline safety and efficacy data from Part 1A of the preeclampsia study in the second quarter of 2025.

How many hospital sites are activated for DMAC's ReMEDy2 Phase 2/3 stroke trial?

30 hospital sites have been activated during the first quarter of 2025 for the ReMEDy2 acute ischemic stroke trial.

What is DiaMedica's (DMAC) current cash runway?

Based on current plans, the company's cash position of $44.1 million is expected to fund operations into the third quarter of 2026.

What was DMAC's net loss for full year 2024?

DiaMedica reported a net loss of $24.4 million, or $0.60 per share, for the year ended December 31, 2024.

When is the interim analysis expected for DMAC's ReMEDy2 stroke trial?

The interim analysis for sample size re-estimation on the first 200 participants is anticipated in the first half of 2026.
Diamedica Therapeutics Inc

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