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DiaMedica Therapeutics Inc. (DMAC-8.73%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's ongoing clinical programs, including its lead candidate DM199, which is being developed for the treatment of acute ischemic stroke (AIS) and preeclampsia (PE). DM199 is the first pharmaceutically active recombinant form of the human tissue kallikrein-1 protein to be clinically studied in patients.
DiaMedica's ReMEDy2 clinical trial is a Phase 2/3, adaptive design, randomized, double-blind, placebo-controlled trial intended to enroll approximately 300 participants at up to 100 sites globally. The trial excludes patients who received mechanical thrombectomy or participants with large vessel occlusions.
The company is also supporting a Phase 2 investigator-sponsored trial of DM199 for the treatment of PE, conducted at the Tygerberg Hospital in Cape Town, South Africa. This trial aims to evaluate the safety, tolerability, and pharmacodynamic effects of DM199 in patients with PE.
DiaMedica reported a net loss of $24.4 million for the year ended December 31, 2024, compared to a net loss of $19.4 million in the prior year. The increase in net loss is attributed to higher research and development expenses related to the continuation of the ReMEDy2 trial and manufacturing development activities.
The company had cash, cash equivalents, and marketable securities of $44.1 million as of December 31, 2024, down from $52.9 million as of December 31, 2023. DiaMedica expects its current cash resources to be sufficient to fund its planned operations for at least the next 12 months.
DiaMedica's strategy includes securing license agreements and collaborations with other pharmaceutical and biotech companies to support the development of DM199 for various indications.
The filing also outlines the risks related to the company's business, including the need for additional funding, the uncertainty of clinical trial outcomes, and potential competition from other biotechnology and pharmaceutical companies.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the DiaMedica Therapeutics Inc. annual 10-K report dated March 17, 2025. To report an error, please email earnings@qz.com.