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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.

  • DiaMedica Therapeutics Ltd. (DMAC) stock goes down in the after-hours trading session: here’s why

    DiaMedica Therapeutics Ltd. (DMAC) stock recently traded at $9.81 which is a 0.82% upward movement. The DMAC stock previously closed at $9.73. DMAC stock, however, dropped in the after-hours trading session by 9.79% at the time of writing.

    The recent downward pattern of stock movement in the after-hours trading session has no direct association with the recent news. However as for the news, DMAC stock announced that it is presenting research at the NKF 2021 meeting.

    DiaMedica Therapeutics’ focus on neurological and renal diseases

    DiaMedica Therapeutics (DMAC) Inc. is a clinical stage biopharmaceutical company that specializes in developing various treatments that can innovatively be produced to tackle the unmet need of neurological and chronic kidney disease patients. The novel treatment developments will initially focus on acute ischemic stroke (AIS) and chronic kidney disease (CKD).

    DMAC participates in NKF’s 2021 SCM

    The DMAC stock Company has announced that the presentation will be held at the National Kidney Foundation 2021. Specifically, it will present two abstracts at the spring clinical meetings for 2021.

    National Kidney Foundation is a massive organization that is leading the mission for awareness of the Kidney diseases as well as its preventions and treatments. This platform allows for the awareness to be spread among millions of patients with the kidney-related disease and thousands of doctors, renal healthcare professionals and experts in America.

    Springs Clinical Meetings provides a platform opportunity as an educational conference for health care providers to learn newly-made researches and developments all associated with the different aspects of nephrology. SCM showcases an important objective to specifically learn about chronic kidney diseases. This allows participants to be aware and updated on the new developments on kidney diseases made by the health community. It does this through a combination of courses and workshops. Currently, there are 30 million Americans affected with chronic kidney diseases; one out three people at a risk from the 9th leading cause of death in the US.

    Since the covid-19 pandemic has discouraged people from meeting in public and physically, the meeting will be held in a virtual conference from 6th April to 10th April. DMAC stock will participate in the meeting with the two abstracts it has prepared. The subject of one abstract is about the level of kallikrein protein levels comparatively present in the body of a patient with chronic kidney disease and a healthy person’s normal kidney function. The second abstract is about DMAC’s multicenter, open-lab study ofDM199 in patients of chronic kidney diseases of stage 2 or 3. This study will be a Redux based study.

    DMAC’s 2020 financial performance momentum can carry it through mid-2022

    On 11 March 2021, DiaMedicareleased the Full Year financial report 2020 to present the performance of its operations and thus DMAC stock’s performance. Here it also discussed the business updates which include a very active participation in presentations, conferences and webinars of international scale to discuss its ReMEDy phase 2 trial data and initiations of phase 2/3 trials for AIS in 2021.

    The 2020 financial highlights indicated that;

    • In 2020, DMAC stock completed two underwritten public offerings of its common shares for gross proceed of $28.8M and $31.5M.
    • DMAC at the end of the year incurred $27.5M in cash and cash equivalents.

    DiaMedica Therapeutics stated in its balance sheet segment that these net proceeds and capital are sufficient to provide funds throughout mid-2022 along with the initiation of its AIS phase2/3 trial and completion of REDUX trial.