Wed, Nov 13, 9:28 PM (248 days ago)
DiaMedica Therapeutics Inc. (NASDAQ: DMAC) reported its Q3 2024 results, highlighting a net loss of $6.3 million, up from $4.5 million in Q3 2023. For the nine months ending September 30, 2024, losses totaled $16.5 million, compared to $14.2 million in the prior year. The increase in losses is primarily attributed to higher research and development (R&D) expenses, which rose to $5.0 million in Q3 2024 from $3.3 million in Q3 2023, driven by the ongoing ReMEDy2 trial for acute ischemic stroke (AIS) and the expansion of the clinical team. Cash and cash equivalents stood at $4.1 million, with total liquidity (cash, cash equivalents, and marketable securities) of $50.2 million. The company expects its current resources to fund operations, including the ReMEDy2 trial and a new Phase 2 trial for preeclampsia, for at least the next 12 months. The ongoing trials face challenges such as slower site activations and staffing shortages, potentially impacting timelines and costs. Future funding needs remain uncertain, and the company may seek additional capital depending on clinical progress and market conditions.