Diamedica Therapeutics ( (DMAC) ) has released its Q3 earnings. Here is a breakdown of the information Diamedica Therapeutics presented to its investors.
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DiaMedica Therapeutics Inc. is a clinical-stage biopharmaceutical company dedicated to developing innovative treatments for serious ischemic diseases, with a focus on preeclampsia, fetal growth restriction, and acute ischemic stroke.
In its latest earnings report, DiaMedica Therapeutics announced the completion of a significant milestone in its Phase 2 trial for preeclampsia, alongside progress in its ReMEDy2 trial for acute ischemic stroke. The company also reported a strong financial position with $55 million in cash and investments, providing a runway into the second half of 2027.
Key highlights from the report include the completion of the Part 1a dose escalation cohort in the preeclampsia trial and the initiation of an expansion cohort. Additionally, DiaMedica held a productive pre-IND meeting with the FDA regarding its U.S. Phase 2 study plans. The ReMEDy2 trial for acute ischemic stroke is nearing 50% enrollment of its target, indicating steady progress.
Financially, DiaMedica reported increased R&D expenses due to the advancement of its clinical trials, resulting in a net loss of $8.6 million for the third quarter. However, the company’s cash position improved significantly from the previous year, bolstered by proceeds from a private placement.
Looking ahead, DiaMedica remains focused on advancing its clinical programs and is optimistic about the potential of its lead candidate, DM199, to address unmet medical needs in its target indications. The company continues to work closely with regulatory bodies to ensure the successful progression of its trials.