DiaMedica Therapeutics Q2 2023: clinical hold lifted, $37.5M private placement, cash $60.7M

DiaMedica Therapeutics Inc.

FDA fully lifted clinical hold on ReMEDy2 Phase 2/3 trial of DM199 for acute ischemic stroke on June 21, 2023.
Completed $37.5M private placement (~11M shares at $3.40; net proceeds ~$36.1M); cash runway into 2026.
Cash, cash equivalents and investments of $60.7M as of June 30, 2023, up from $33.5M at Dec 31, 2022.
R&D expenses increased to $6.2M for H1 2023 (up from $3.9M) due to clinical hold resolution and Phase 1C study.
Phase 1C study in ACEi patients completed; all received full IV dose with no hypotension.

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