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DiaMedica Therapeutics (DMAC) 8 Aug 24 2024 Q2 Earnings call transcript

AInvestFriday, Aug 9, 2024 7:01 pm ET
1min read

DiaMedica Therapeutics recently held its second quarter earnings call, highlighting significant progress in its ReMEDy2 trial for stroke treatment and the initiation of a new program for preeclampsia. The call, led by President and CEO Dietrich Pauls, provided valuable insights into the company's strategic direction and financial performance.

ReMEDy2 Trial Progress and Future Outlook

DiaMedica is making strides in its ReMEDy2 trial, with a focus on high-quality research institutions. The company anticipates achieving full enrollment for the interim analysis by the end of the first quarter of 2025, demonstrating the potential of its therapeutic, DM-199, in rapidly reducing blood pressure in stroke patients. This could significantly impact the lives of millions, as stroke affects 5% to 8% of all births in the US, impacting approximately 180,000 to 300,000 patients annually.

Expansion into Preeclampsia Treatment

A new development for DiaMedica is the initiation of its preeclampsia program. The company is collaborating with a team of globally renowned researchers, including Professor Stephen Tong, Professor Catherine Cluver, and Professor Susan Walker. This collaboration is expected to yield valuable insights into DM-199's potential in lowering blood pressure and dilating intrauterine arteries, potentially leading to disease-modifying therapy for this severe hypertensive disorder in pregnancy.

Financial Performance and Future Prospects

DiaMedica's financial performance was also discussed, with the company reporting a $11.8 million private placement and a cash runway extending into Q3 of 2026. Research and development expenses have increased, primarily due to the ReMEDy2 trial and expanding clinical team. However, overall expenses are expected to remain steady.

Conclusion

The second quarter earnings call from DiaMedica Therapeutics underscores the company's commitment to advancing stroke and preeclampsia treatments. With a promising pipeline and strategic collaborations, DiaMedica is well-positioned to tackle significant health challenges and potentially revolutionize the treatment landscape for stroke and preeclampsia patients.

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