Financial Performance - DiaMedica reported total cash, cash equivalents, and investments of 52.9 million as of December 31, 2023[11]. - The net cash used in operating activities for the nine months ended September 30, 2024, was 14.9 million for the same period in 2023[12]. - Other income for the nine months ended September 30, 2024, was 1.2 million in the same period in 2023, driven by increased interest income[15]. - The net loss for Q3 2024 was 4,471,000 in Q3 2023, representing a 40.3% increase in losses year-over-year[23]. - The company reported a total operating loss of 5,157,000 in Q3 2023, indicating a 33.4% increase in operating losses[23]. - The accumulated deficit increased to 115,558,000 at the end of 2023, reflecting a 14.3% increase[24]. - The company raised 36,848,000 in Q3 2023, a decrease of 68.2%[25]. Research and Development - Research and development (R&D) expenses increased to 3.3 million in Q3 2023, and totaled 9.4 million for the same period in 2023[13]. - Research and development expenses for Q3 2024 were 3,272,000 in Q3 2023[23]. - The Preeclampsia Phase 2 trial has enrolled its first patient, with top-line results from Part 1A expected in the first half of 2025[8][9]. - The ReMEDy2 trial is expected to enroll approximately 350 patients at up to 100 sites globally, with interim results anticipated in Q4 2025, delayed from the previous guidance of Summer 2025[7][17]. - The inclusion of thrombolytic non-responders in the ReMEDy2 trial is expected to enhance treatment response and accelerate enrollment[8]. - The ReMEDy2 trial protocol has been updated to broaden the trial population and increase the sample size for interim analysis, enhancing the probability of success[4][5]. Cash and Assets - Total current assets decreased to 53,675,000 at the end of 2023, a decline of 5.6%[24]. - Cash and cash equivalents at the end of Q3 2024 were 4,543,000 at the end of 2023, reflecting a 9% decline[24]. - The company has a cash runway extending into Q3 2026, providing sufficient funding for ongoing trials and operations[1]. - The company anticipates future operating expenses and cash runway extending into the third quarter of 2026, contingent on the success of ongoing clinical trials[21]. General and Administrative Expenses - General and administrative (G&A) expenses were 1.9 million for Q3 2024, consistent with Q3 2023, while G&A expenses for the nine months ended September 30, 2024, decreased to 5.7 million from $6.0 million in the same period in 2023[14]. Shareholder Information - The weighted average shares outstanding for basic and diluted calculations increased to 42,751,577 in Q3 2024 from 37,949,422 in Q3 2023, a rise of 12.5%[23].
DiaMedica Therapeutics(DMAC) - 2024 Q3 - Quarterly Results