DiaMedica Therapeutics (DMAC) Q4 2024 earnings summary

Executive summary

• Significant progress in clinical programs for DM199 in preeclampsia and acute ischemic stroke, with key milestones achieved and ongoing enrollment and trial expansion.

• Preeclampsia program advanced with ethics and regulatory approvals, dosing underway, and topline data expected Q2 2025.

• ReMEDy2 stroke trial expanded to 30 activated sites, with protocol amendments broadening eligibility and interim analysis expected in H1 2026.

• Appointment of Daniel J. O'Connor to the Board, bringing significant biotech leadership experience.

Financial highlights

• Cash and investments totaled $44.1M as of December 31, 2024, down from $52.9M at year-end 2023.

• Net loss for 2024 was $24.4M ($0.60/share), compared to $19.4M ($0.60/share) in 2023.

• R&D expenses rose to $19.1M (from $13.1M), driven by clinical trial activity and manufacturing.

• G&A expenses decreased to $7.6M (from $8.2M), mainly due to lower legal and insurance costs.

• Net cash used in operating activities was $22.1M for 2024, up from $18.7M in 2023.

Outlook and guidance

• Cash and investments expected to provide runway into Q3 2026, supporting planned clinical studies and operations.

• R&D expenses anticipated to increase moderately as ReMEDy2 expands globally and preeclampsia program advances.

• G&A expenses expected to remain steady.

• Preliminary topline results for preeclampsia phase 1A expected in Q2 2025, focusing on blood pressure reduction, safety, and placental perfusion.

• ReMEDy2 interim analysis targeted for first half of 2026.