DiaMedica Therapeutics Inc. (DMAC) stock prices were up by 4.34% some time after market trading commenced on September 27th, 2021. This brought the price per share up to USD$4.09 early on in the trading day.
DMAC Stock Private Offering
September 27th, 2021 saw DMAC stock announce entering into a definitive agreement with ten accredited investors. The agreement takes shape in the form of a private placement wherein USD$30 million shares of the company’s common stock will be sold. Each share will be priced at USD$3.92, equal to the closing share price of the company’s common stock on September 24th, 2021. Proceeds generated from the offering are expected to be allocated towards the continuation of the company’s clinical and product development activities for DM199. This includes the company’s recently initiated pivotal ReMEDy2 trial, as well as for other working capital and general corporate purposes.
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ReMEDy2 Clinical Trial
DMAC stock announced the initiation of the first site for its pivotal ReMEDy2 trial on September 13th 2021. The Phase 2/3 clinical study for DM199 is designed to evaluate the effectiveness of the treatment for acute ischemic stroke (AIS). The trial is a randomized, double-blind, and placebo-controlled adaptive trial. It will enroll 350 patients across 75 sites in the United States, with patients being treated with either DM199 or the placebo. The DM199 treatment will be administered within 24 hours of the onset of AIS symptoms.
Details about the Trial
The study excludes patients treated with tissue plasminogen activator (tPA), as well as those with large vessel occlusions. Enrolled patients represent 80% of AIS patients who do not have treatment options today. This is primarily due to the short treatment window of 4.5 hours required for the administration of tPA. The study has two primary endpoints and is powered for success with either endpoint. The first is the recovery from stroke as measured by the standard modified Ranking Scale (mRS) at day 90. The second endpoint is the rate of ischemic stroke recurrence at day 30.
Future Outlook for DMAC Stock
The company reported a promising quarter, consolidated by the success of its pivotal ReMEDy2 trial. DMAC stock is keen to push for the accelerated commercialization and proliferation of its DM199 treatment. Current and potential investors are hopeful that management will be able to leverage the resources at its disposal. This is hoped to facilitate significant and sustained increases in shareholder value.