Financial Position - Cash position as of December 31, 2024, was $44.1 million, down from $52.9 million as of December 31, 2023, with a cash runway anticipated into Q3 2026[7] - Total assets decreased from $54,160 million in 2023 to $46,345 million in 2024, a decline of approximately 14.9%[19] - Current liabilities increased significantly from $2,786 million in 2023 to $5,390 million in 2024, an increase of about 93%[19] - Shareholders' equity dropped from $51,057 million in 2023 to $40,718 million in 2024, a decrease of approximately 20.2%[19] - Cash and cash equivalents decreased from $4,543 million at the beginning of the period to $3,025 million at the end, a decline of 33.4%[21] - Total current assets fell from $53,675 million in 2023 to $44,610 million in 2024, a decrease of approximately 16.9%[19] - The company reported an increase in accrued liabilities from $1,777 million in 2023 to $4,347 million in 2024, an increase of about 144.5%[19] Operating Activities - Net cash used in operating activities for 2024 was $22.1 million, an increase from $18.7 million in 2023, primarily due to increased net loss and advance deposits for the ReMEDy2 trial[7] - Net cash used in operating activities was $22,076 million in 2024, compared to $18,728 million in 2023, indicating a 17.9% increase in cash outflow[21] Research and Development - Research and Development (R&D) expenses rose to $19.1 million in 2024 from $13.1 million in 2023, driven by the continuation of the ReMEDy2 trial and expansion of the clinical team[7] - The company expects moderate increases in R&D expenses as it expands the ReMEDy2 trial and the DM199 clinical development program into preeclampsia[7] Net Loss - Net loss for the year ended December 31, 2024, was $24.4 million, or $0.60 loss per share, compared to a net loss of $19.4 million, or $0.60 loss per share, in 2023[7] - Net loss for 2024 was $24,444 million, compared to a net loss of $19,381 million in 2023, representing a 26.5% increase in losses[21] ReMEDy2 Trial - The ReMEDy2 trial has activated 30 study sites as of Q1 2025, with an interim analysis for sample size re-estimation expected in the first half of 2026[3] - The ReMEDy2 trial aims to enroll approximately 300 patients globally, with the final sample size determined by an interim analysis of 200 participants[10] - Preliminary safety and efficacy data from the Phase 2 trial for preeclampsia is anticipated in Q2 2025[4] Corporate Developments - The company appointed Daniel J. O'Connor to the Board in February 2025, who previously led a $2 billion acquisition at Ambrx[6] Cash Flows - Cash flows from investing activities improved, with net cash provided of $8,564 million in 2024 compared to a net cash used of $18,299 million in 2023[21] - Proceeds from the issuance of common shares decreased from $36,848 million in 2023 to $11,747 million in 2024, a decline of about 68.2%[21]
DiaMedica Therapeutics(DMAC) - 2024 Q4 - Annual Results