Business
DiaMedica Therapeutics Provides a Business Update and Announces Full Year 2023 Financial Results
Conference Call and Webcast March 20 at 8:00 AM Eastern Time / 7:00 AM Central Time ReMEDy2 Clinical Site Activation Commenced in December 2023 Strengthened
About this update from Diamedica Therapeutics Inc.
[{"type":"text","content":"\nConference Call and Webcast March 20 at 8:00 AM Eastern Time / 7:00 AM Central Time\n\n\n\nReMEDy2 Clinical Site Activation Commenced in December 2023\n\n\n\nStrengthened Management Team with Lorianne Masuoka, M.D., as Chief Medical Officer\n\n\n\n$53 Million Cash with Runway to 2026\n\n\n\n MINNEAPOLIS--(BUSINESS WIRE)--\nDiaMedica Therapeutics Inc. (Nasdaq: DMAC), a clinical-stage biopharmaceutical company focused on developing novel treatments for neurological disorders and cardio-renal disease, today provided a business update and financial results for the year ended December 31, 2023. Management will host a conference call Wednesday, March 20, 2024, at 8:00 AM Eastern Time / 7:00 AM Central Time to discuss its business update and full year 2023 financial results.\n\n\nReMEDy2 Phase 2/3 AIS Clinical Developments\n\n\nDiaMedica has been actively engaging with clinical study sites in the United States and globally. In the U.S., the first clinical sites were opened in December 2023 and as of the date of this press release, six sites have been opened. The majority of the U.S. sites are expected to be activated by the third quarter of 2024. With the support of the Canadian Stroke Consortium, the activation of study sites in Canada is expected to begin in the third quarter of 2024. In Australia, the Company has received provisional endorsement from the Australian Stroke Trials Network (ASTN) and Australian site activation is expected to commence in the fourth quarter of 2024. Initial steps are also being taken to expand ReMEDy2 into the United Kingdom and Europe.\n\n\nAs previously discussed, the Company submitted a protocol modification to the U.S. Food and Drug Administration (FDA) in October 2023 intended to enhance the probability of clinical success in the ReMEDy2 clinical trial. These modifications included focusing participant eligibility to those subjects with only moderate acute ischemic strokes (AIS) in the anterior circulation. Moderate strokes are commonly defined as those stroke patients having a baseline National Institutes of Health Stroke Score (NIHSS) of 5-15. Moderate severity strokes frequently result from occlusions in small vessels, and if diagnosed after the tissue plasminogen activator (tPA; ACTIVASE®) treatment window has closed, typically have limited treatment alternatives as they are generally not cand...