Diamedica Therapeutics ( (DMAC) ) has released its Q4 earnings. Here is a breakdown of the information Diamedica Therapeutics presented to its investors.
DiaMedica Therapeutics Inc. is a clinical-stage biopharmaceutical company focused on developing innovative treatments for acute ischemic stroke and preeclampsia, with its lead candidate DM199 being a synthetic form of the KLK1 protein.
In its latest earnings report, DiaMedica Therapeutics announced significant advancements in its clinical programs for 2024, highlighting ongoing trials for preeclampsia and acute ischemic stroke. The company also reported a solid cash position to support its operations into the third quarter of 2026.
Key financial metrics revealed a net loss of $24.4 million for 2024, up from $19.4 million in 2023, primarily due to increased research and development expenses related to the expansion of clinical trials. The company’s cash, cash equivalents, and short-term investments stood at $44.1 million as of December 31, 2024. Additionally, DiaMedica appointed Daniel J. O’Connor, an experienced biotech executive, to its board.
Strategically, DiaMedica is focusing on its Phase 2/3 ReMEDy2 trial for acute ischemic stroke, which has expanded to 30 hospitals, and its Phase 2 trial for preeclampsia, with preliminary data expected in 2025. The company anticipates increased R&D expenses as it continues to expand these trials globally.
Looking ahead, DiaMedica remains committed to advancing its clinical programs and leveraging its cash reserves to support ongoing research and development efforts, with the aim of addressing unmet medical needs in stroke and preeclampsia treatment.