DiaMedica Therapeutics Ltd. (DMAC) stock recently traded at $9.81 which is a 0.82% upward movement. The DMAC stock previously closed at $9.73. DMAC stock, however, dropped in the after-hours trading session by 9.79% at the time of writing.
The recent downward pattern of stock movement in the after-hours trading session has no direct association with the recent news. However as for the news, DMAC stock announced that it is presenting research at the NKF 2021 meeting.
DiaMedica Therapeutics’ focus on neurological and renal diseases
DiaMedica Therapeutics (DMAC) Inc. is a clinical stage biopharmaceutical company that specializes in developing various treatments that can innovatively be produced to tackle the unmet need of neurological and chronic kidney disease patients. The novel treatment developments will initially focus on acute ischemic stroke (AIS) and chronic kidney disease (CKD).
DMAC participates in NKF’s 2021 SCM
The DMAC stock Company has announced that the presentation will be held at the National Kidney Foundation 2021. Specifically, it will present two abstracts at the spring clinical meetings for 2021.
National Kidney Foundation is a massive organization that is leading the mission for awareness of the Kidney diseases as well as its preventions and treatments. This platform allows for the awareness to be spread among millions of patients with the kidney-related disease and thousands of doctors, renal healthcare professionals and experts in America.
Springs Clinical Meetings provides a platform opportunity as an educational conference for health care providers to learn newly-made researches and developments all associated with the different aspects of nephrology. SCM showcases an important objective to specifically learn about chronic kidney diseases. This allows participants to be aware and updated on the new developments on kidney diseases made by the health community. It does this through a combination of courses and workshops. Currently, there are 30 million Americans affected with chronic kidney diseases; one out three people at a risk from the 9th leading cause of death in the US.
Since the covid-19 pandemic has discouraged people from meeting in public and physically, the meeting will be held in a virtual conference from 6th April to 10th April. DMAC stock will participate in the meeting with the two abstracts it has prepared. The subject of one abstract is about the level of kallikrein protein levels comparatively present in the body of a patient with chronic kidney disease and a healthy person’s normal kidney function. The second abstract is about DMAC’s multicenter, open-lab study ofDM199 in patients of chronic kidney diseases of stage 2 or 3. This study will be a Redux based study.
DMAC’s 2020 financial performance momentum can carry it through mid-2022
On 11 March 2021, DiaMedicareleased the Full Year financial report 2020 to present the performance of its operations and thus DMAC stock’s performance. Here it also discussed the business updates which include a very active participation in presentations, conferences and webinars of international scale to discuss its ReMEDy phase 2 trial data and initiations of phase 2/3 trials for AIS in 2021.
The 2020 financial highlights indicated that;
- In 2020, DMAC stock completed two underwritten public offerings of its common shares for gross proceed of $28.8M and $31.5M.
- DMAC at the end of the year incurred $27.5M in cash and cash equivalents.
DiaMedica Therapeutics stated in its balance sheet segment that these net proceeds and capital are sufficient to provide funds throughout mid-2022 along with the initiation of its AIS phase2/3 trial and completion of REDUX trial.