Welcome to our dedicated page for Diamedica Therapeutics news (Ticker: DMAC), a resource for investors and traders seeking the latest updates and insights on Diamedica Therapeutics stock.
DiaMedica Therapeutics Inc. develops clinical-stage biopharmaceutical programs for serious ischemic diseases, with a focus on preeclampsia, fetal growth restriction and acute ischemic stroke. Its lead candidate, DM199, is a recombinant synthetic form of the KLK1 protein being studied in maternal-fetal and stroke indications.
Company news commonly covers DM199 clinical and regulatory updates, including preeclampsia studies, the ReMEDy2 Phase 2/3 acute ischemic stroke trial, Health Canada clearances and FDA pre-IND interactions. Updates also include financial results, cash runway commentary, equity financing activity, investor conference participation and equity compensation actions under Nasdaq rules.
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DiaMedica Therapeutics Inc. (NASDAQ: DMAC) announced the appointment of David Wambeke as Chief Business Officer (CBO) to spearhead business development initiatives. Mr. Wambeke brings over 15 years of life sciences and investment banking experience, having previously been involved in over 100 financing transactions. He will play a crucial role as the company resumes enrollment in its ReMEDy2 trial for acute ischemic stroke (AIS).
In conjunction with his appointment, Mr. Wambeke purchased $750,000 worth of common shares at $1.60 each, above the closing price of $1.57 on April 10, 2023, indicating his vested interest in the company's future. Additionally, he received an inducement stock option for 140,000 common shares with a 10-year term.
DiaMedica Therapeutics (Nasdaq: DMAC) provided a business update and 2022 financial results, highlighting ongoing communications with the FDA regarding the clinical hold on its ReMEDy2 trial. The company completed Part 1 of an in-use study, with results indicating a proposed dose revision could prevent hypotension issues. As of December 31, 2022, DiaMedica reported cash and investments of $33.5 million, a decline from $45.1 million in 2021, primarily due to operational costs. R&D expenses decreased to $7.8 million, while G&A expenses rose to $6.2 million. Management will discuss these results in a conference call on March 29, 2023.