DiaMedica dosed first patient in ReMEDy2 stroke trial; Q1 cash $46.5M

DiaMedica Therapeutics Inc.

First participant enrolled in relaunched ReMEDy2 Phase 2/3 trial of DM199 for acute ischemic stroke.
Cash, equivalents and investments of $46.5M as of March 31, 2024; working capital $44.9M.
Net cash used in operations was $6.7M in Q1 2024 vs $5.1M in Q1 2023, driven by vendor deposits for ReMEDy2.
R&D expenses $3.7M (up from $3.6M) and G&A $2.1M (up from $1.9M) compared to year-ago quarter.
Expect full enrollment for 144-patient interim analysis by Q1 2025; Canadian and Australian site activations on track for H2 2024.

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