Business
DiaMedica Therapeutics Announces 2019 Financial Results and Provides Business Update
REMEDY Phase II Study of DM199 in Acute Ischemic Stroke Completes Enrollment; Data Readout Expected in Q2 2020 Phase II Study of DM199 in Chronic Kidney
About this update from Diamedica Therapeutics Inc.
[{"type":"text","content":"\n\nREMEDY Phase II Study of DM199 in Acute Ischemic Stroke Completes Enrollment; Data Readout Expected in Q2 2020\n\n\nPhase II Study of DM199 in Chronic Kidney Disease Ongoing; Steps Being Taken to Mitigate Potential Impact of COVID-19\n\n\nRaised $8.5 Million in Gross Proceeds in Public Offering with Biotech Investment Funds in February 2020 \n\n\nCash and Investments of $7.9 Million, $15.6 Million Pro Forma with Net Proceeds from February 2020 Public Offering; Runway Through 2021\n\n\nConference Call with Management Tomorrow, March 24 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 reported its financial results for the year ended December 31, 2019.\n\n\n\"DiaMedica set out and achieved some ambitious goals for 2019. We completed a Phase Ib pharmacokinetic study in subjects with chronic kidney disease, which was required to prepare for Phase II work. We assembled a world-class advisory board to guide our chronic kidney disease (CKD) clinical program, and collectively identified several rare forms of CKD to study. We planned and initiated our Phase II work in chronic kidney disease. We accomplished all of this while completing enrollment in our enlarged REMEDY study in acute ischemic stroke. We expect to build upon these accomplishments in 2020 as we work toward advancing DM199, which holds the potential to have significant impact on patients suffering from chronic kidney disease and acute ischemic stroke,\" stated Rick Pauls, DiaMedica’s President and CEO. \"We are excited and cautiously optimistic as we look forward to the Phase II clinical results during 2020 as part of continuing to execute on our clinical development plans during 2020 and we look forward to sharing results as they become available.\"\n\n\nClinical Developments\n\n\nDM199 for the Treatment of Chronic Kidney Disease \n\n\nPhase II REDUX Clinical Study in CKD Caused by IgA Nephropathy and African Americans with Hypertension\n\n\nIn October 2019, the FDA accepted the Company’s Phase II clinical trial protocol for the treatment of CKD caused by rare or significant unmet diseases. The trial named REDUX, Latin for restore, is a multi-center, open-label i...