DiaMedica Therapeutics (DMAC) Q1 2026 earnings summary

Executive summary

• Advanced DM199 clinical programs in preeclampsia, fetal growth restriction, and acute ischemic stroke, with multiple clinical milestones and data readouts expected through 2027.

• Enrollment in the ReMEDy2 stroke trial surpassed 70%, with interim analysis targeted for end of 2026.

• Progressed phase II trials in preeclampsia, including late-onset, early-onset, and global expansion, despite enrollment delays.

• No commercial products or revenues to date; all assets focused on severe ischemic diseases.

• Net loss for Q1 2026 was $10.0 million, up from $7.7 million in Q1 2025, driven by increased R&D expenses.

Financial highlights

• Cash, cash equivalents, and short-term investments totaled $51.3 million as of March 31, 2026, down from $59.9 million at year-end 2025.

• Working capital was $46.6 million; shareholders’ equity was $47.2 million as of March 31, 2026.

• Net cash used in operating activities was $9.1 million for Q1 2026, up from $7.1 million in Q1 2025.

• R&D expenses increased to $8.0 million from $5.7 million year-over-year, mainly due to clinical trial expansion and toxicity testing.

• General and administrative expenses remained flat at $2.5 million.

Outlook and guidance

• Cash and investments expected to fund operations and clinical studies through 2027.

• R&D expenses projected to moderately increase as clinical programs advance.

• G&A expenses anticipated to remain consistent.

• Additional capital will be needed to complete clinical development and regulatory activities.

• Multiple data readouts for preeclampsia and fetal growth restriction expected by end of 2027.