Diamedica Therapeutics Inc Stock Price, News & Analysis

DiaMedica Therapeutics announced a key opinion leader (KOL) event on July 29, 2024, to discuss its DM199 (rinvecalinase alfa) treatment for preeclampsia. The event will feature experts like Prof. Stephen Tong, Prof. Catherine Cluver, and Prof. Susan Walker, who will address the unmet need for preeclampsia treatments and the unique mechanism of DM199. Additionally, DiaMedica will provide an overview of its upcoming Phase 2 clinical trial for DM199, set to begin in Q4 2024. The company also released a white paper, available on its website, detailing the potential of DM199 in treating preeclampsia.

DiaMedica Therapeutics, a clinical-stage biopharmaceutical company, has closed an $11.8 million private placement. The company sold approximately 4.7 million common shares at $2.50 per share, a 10% premium over the previous closing price. Net proceeds were about $11.7 million, increasing the company's cash and investments to $58.2 million on a pro forma basis. Major investors include Thomas von Koch and Trill AB, each acquiring 1.2 million shares at $2.50 per share, raising their holdings to 12.9% and 12.2% of the company, respectively.

DiaMedica Therapeutics (Nasdaq: DMAC) announced a private placement of common shares to accredited investors, aiming to raise $11.8 million. The company will issue 4,720,000 shares at $2.50 each, with the transaction expected to close around June 28, 2024. The proceeds will fund ongoing clinical trials for DM199, including Phase 2/3 ReMEDy2 for acute ischemic stroke and expansion into preeclampsia. This financing will extend DiaMedica's cash runway into Q3 2026. The common shares offered are not registered under the Securities Act of 1933 and will require a registration statement for resale. Related parties have committed $6.0 million, making this a 'related party transaction' under Canadian regulations, but exempt from certain requirements due to the transaction's size relative to the company's market capitalization.

DiaMedica Therapeutics announced the expansion of its DM199 (rinvecalinase alfa) clinical development program to include preeclampsia, a severe pregnancy-associated disorder. The Phase 2 trial will begin in Q4 2024, with key results expected in H1 2025. The trial aims to enroll up to 120 participants at an estimated cost of $1.5 million. DM199 has shown potential in lowering blood pressure and improving endothelial health, critical for pregnant women. The study will evaluate up to 90 women with preeclampsia and 30 with fetal growth restriction. Initial findings indicate DM199 does not cross the placental barrier, suggesting a significant safety advantage.

DiaMedica Therapeutics Inc. (Nasdaq: DMAC) provided a business update and financial results for Q1 2024, reporting $46.5 million cash with runway to 2026. They dosed the first patient in the ReMEDy2 Stroke Trial, with a projected enrollment completion by Q1 2025. The company expanded its clinical operations team to support global expansion. Financially, R&D expenses increased, but G&A expenses remained steady. DiaMedica held a conference call to discuss these updates and financial results.

DiaMedica Therapeutics Inc. (Nasdaq: DMAC) will release its first quarter 2024 financial results on May 8th, followed by a business update and live conference call on May 9th. The company focuses on developing recombinant KLK1 (DM199) for acute ischemic stroke treatment.