Business
DiaMedica Provides a Business Update and Second Quarter 2020 Financial Results
DiaMedica Completes $23M Public Offering of Common Shares Diabetic Kidney Disease Cohort Added to REDUX Study Post-Offering Cash and Investments of $32.9
About this update from Diamedica Therapeutics Inc.
[{"type":"text","content":"\n\nDiaMedica Completes $23M Public Offering of Common Shares\n\n\nDiabetic Kidney Disease Cohort Added to REDUX Study\n\n\nPost-Offering Cash and Investments of $32.9 Million Providing Expected Two-Year Runway\n\n\nConference Call with Management Tomorrow, August 12 at 7am CT\n\n\n MINNEAPOLIS--(BUSINESS WIRE)--\nDiaMedica Therapeutics Inc. (Nasdaq: DMAC), a clinical-stage biopharmaceutical company focused on developing novel treatments for kidney diseases and neurological disorders, today provided a business update and financial results for the three and six months ended June 30, 2020. DiaMedica will host a conference call tomorrow, August 12, 2020, at 7:00 a.m. Central Time to discuss its business update and second quarter financial results.\n\n\nClinical Developments\n\n\nDM199 for the Treatment of Chronic Kidney Disease \n\n\nPhase II Clinical Study in CKD Caused by IgA Nephropathy, in African Americans with Hypertension – Enrollment Continues\n\n\nInitiation of Third Cohort in CKD caused by Type II Diabetes Mellitus\n\n\nThe Phase II REDUX (Latin for restore) trial is a multi-center, open-label investigation of approximately 90 evaluable participants with chronic kidney disease (CKD), who are being enrolled in three cohorts (30 per cohort). The study is being conducted in the United States and a 13th site was added in July 2020.\n\n\nREDUX targets participants with CKD. Cohort I of the study is focused on non-diabetic, hypertensive African Americans with Stage II or III CKD, a group which is at greater risk for CKD than Caucasians. African Americans who have the APOL1 gene mutation are at an even higher risk. The study is designed to capture the APOL1 gene mutation as an exploratory biomarker in this cohort. Cohort II of the study is focused on participants with IgA Nephropathy (IgAN). Based upon additional data from DiaMedica’s completed ReMEDy study showing significantly improved estimated glomerular flow rate (eGFR) and reduced blood glucose levels, and with a portion of the net proceeds from the recent public offering of common shares, the Company is initiating a third cohort, Cohort III, focused on participants with Type II diabetes mellitus, hypertension and albuminuria.\n\n\n“The addition of this diabetic cohort is timely in that it leverages our current sites, which also have this patient population,” commented Dr....