Financial Position - DiaMedica completed a $12 million private placement, extending its cash runway into Q3 2026[1] - The company reported total cash, cash equivalents, and investments of $54.1 million as of June 30, 2024, an increase from $52.9 million at the end of 2023[9] - Cash and cash equivalents increased to $14,066,000 as of June 30, 2024, from $4,543,000 at the end of 2023, marking a significant increase of 209.5%[21] - Total assets rose to $56,791,000 as of June 30, 2024, compared to $54,160,000 at the end of 2023, reflecting a growth of 4.8%[21] - Total current liabilities increased to $3,088,000 as of June 30, 2024, compared to $2,786,000 at the end of 2023, indicating a rise of 10.9%[21] - Shareholders' equity increased to $53,415,000 as of June 30, 2024, from $51,057,000 at the end of 2023, representing a growth of 4.6%[21] Research and Development - Research and development (R&D) expenses increased to $3.9 million for Q2 2024, up from $2.5 million in Q2 2023, reflecting ongoing clinical trials[10] - A Phase 2 trial for preeclampsia is set to begin in Q4 2024, with initial proof-of-concept results expected in the first half of 2025[5] - The company has selected 15 research centers in the U.S. for the ReMEDy2 trial, with at least nine expected to be activated this quarter[2] - The company anticipates full enrollment of 144 patients for the interim analysis of the ReMEDy2 trial by Q1 2025[2] - DM199 is intended to lower blood pressure and improve perfusion to maternal organs in preeclampsia, with no approved therapeutics currently available in the U.S. or Europe[3] Income and Expenses - General and administrative (G&A) expenses decreased to $1.7 million for Q2 2024, down from $2.2 million in Q2 2023[11] - Other income increased to $526 thousand for Q2 2024, up from $271 thousand in Q2 2023, driven by higher interest income[12] - The company reported other income of $526,000 for Q2 2024, compared to $271,000 in Q2 2023, an increase of 94.1%[20] - Net cash used in operating activities for the first half of 2024 was $11.2 million, compared to $10.1 million for the same period in 2023[9] - The company generated net cash used in operating activities of $11,172,000 for the six months ended June 30, 2024, compared to $10,119,000 for the same period in 2023, an increase of 10.4%[22] - Cash flows from financing activities provided $11,751,000 in Q2 2024, compared to $36,849,000 in Q2 2023, indicating a decrease of 68.2%[22] Net Loss - The net loss for the six months ended June 30, 2024, was $10,270,000, compared to a net loss of $9,749,000 for the same period in 2023, representing an increase of 5.3%[22] - The company reported a basic and diluted net loss per share of $0.13 for Q2 2024, an improvement from $0.16 in Q2 2023[20]
DiaMedica Therapeutics(DMAC) - 2024 Q2 - Quarterly Results