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  • Strategic Announcements Propel DiaMedica (DMAC) Stock Surge

    Strategic Announcements Propel DiaMedica (DMAC) Stock Surge

    Following a couple of strategic developments, DiaMedica Therapeutics Inc.’s (NASDAQ: DMAC) shares are surging on US stock charts today. As of the most recent check, DMAC stock has gained 30.97% during the current-market session, reaching $2.96.

    Agreement Details

    DiaMedica (DMAC) has signed definitive agreements to offer its common shares to accredited investors in a private placement. DMAC expects to receive $11.8 million in gross proceeds from this transaction. As per the conditions mentioned in the securities purchase agreements, DiaMedica will issue 4,720,000 common shares at a $2.50 per share purchase price.

    The anticipated closing date of this private placement is June 28, 2024, subject to the satisfaction of normal closing requirements. The net proceeds of this private placement will be used to further DiaMedica’s efforts related to product development and clinical research, particularly with regard to DM199.

    This involves increasing clinical research on preeclampsia and sponsoring the crucial Phase 2/3 ReMEDy2 study for the treatment of acute ischemic stroke. The money will also go toward general business objectives and additional working capital, extending DiaMedica’s financial runway until the third quarter of 2026.

    Expanding Clinical Trial To Preeclampsia

    Additionally, DiaMedica has disclosed that it intends to broaden clinical studies into preeclampsia, a hypertensive pregnancy disease for which there are no FDA-approved therapies and huge unmet medical needs. Preeclampsia is a potentially fatal illness that is marked by newly developed hypertension, proteinuria, and/or end organ malfunction. It poses serious dangers to both the mother and the unborn child.

    As of right now, neither Europe nor the United States have authorized therapies for preeclampsia. Studies show that DM199 can successfully reduce blood pressure. DM199 is a big molecule protein that has been demonstrated in animal experiments to not penetrate the placental barrier, potentially providing a considerable safety advantage in illnesses associated to pregnancy, unlike small molecule anti-hypertensives, which are contraindicated.

    With up to 120 participants and an expected cost of around $1.5 million, the preeclampsia study is planned to be very cost-efficient and provide a solid proof of concept for this indication.

  • Why Is The DiaMedica (DMAC) Stock Dropping In The Premarket Session Today?

    Why Is The DiaMedica (DMAC) Stock Dropping In The Premarket Session Today?

    As of the last check, DiaMedica Therapeutics Inc. (DMAC) shares were down -22.45% to $5.56 in pre-market trading. DiaMedica stock finished Monday session at $7.17, down by -1.92%. Volume of DMAC stock stood at 78024.0 shares, down from the average daily volume of 0.11 million shares during the past 50 days. Within the past week, DMAC shares have fallen -4.40% and it has a decline of 6.70 percent over the last year.

    DMAC stock has lost -21.21 percent in the past three months and lost -25.62 percent in the past six months. Furthermore, DMAC has a market capitalization of $133.08 million, with 18.77 million outstanding shares. Despite a positive interim study result, DMAC stock fell.

    What was DMAC’s study about?

    Currently, DiaMedica is a clinical-stage biopharmaceutical company dedicated to improving the lives of people affected by neurological and chronic kidney diseases. A positive interim result has been announced today from DiaMedica’s REDUX Phase 2 trial of DM199 in chronic kidney disease (CKD). Three population groups with high medical needs are being studied by DMAC in the REDUX trial including African Americans (AA) with:

    1. non-diabetic and hypertensive (Cohort 1);
    2. IgA Nephropathy (IgAN) (Cohort 2); and
    • diabetic kidney disease (DKD) (Cohort 3).
    • Participants had proteinuria and a glomerular filtration rate of 30-90 ml/min/1.73m2.
    • DMAC found the development of kidney function improvements in Cohort 1 and 2 of DM199 has been demonstrated by increasing the estimated glomerular filtration rate (eGFR) and reducing urine albumin-to-creatinine ratio (UACR).
    • Furthermore, DMAC’s DM199 helped lower blood pressure by clinically significant amounts in those with hypertension (Cohorts 1 and 3).
    • None of the cohorts experienced severe adverse events (SAEs) or had to discontinue treatment due to adverse events (AEs) associated with DM199.
    • In general, AEs observed by DMAC were mild to moderate in severity, with local injection site irritation being the most common.
    • Further clinical evaluation of the biological activity of recombinant KLK1 (DM199) confirms its potency and will support DMAC to achieve clinical benefit similar to or better than that provided by exogenous KLK1.
    • A pivotal Phase 2/3 study in acute ischemic stroke will be begun later this summer, as DMAC continues to evaluate DM199 in IgAN and hypertensive African Americans with CKD.

    What those results mean for DMAC?

    Though these are preliminary results but have demonstrated that DM199 can be an effective treatment option by DiaMedica (DMAC) for patients with kidney disease who have significant unmet needs, including African Americans with uncontrolled hypertension. DMAC’s DM199 is shown to have important physiological effects on eGFR, UACR, and blood pressure, which warrants further research.