DiaMedica Therapeutics Q2 2024 Update

TL;DR

DiaMedica burned $5M cash in Q2, R&D up to $4.5M. Still have $27.1M runway.

AI Summary

DiaMedica Therapeutics Inc. filed its 10-Q for the period ending June 30, 2024. The company reported cash and cash equivalents of $27.1 million as of June 30, 2024, a decrease from $32.1 million at the end of 2023. Research and development expenses for the three months ended June 30, 2024, were $4.5 million, compared to $3.8 million for the same period in 2023.

Why It Matters

This filing provides insight into DiaMedica's financial health and operational spending, crucial for investors assessing the company's ability to fund its ongoing clinical trials and drug development.

Risk Assessment

Risk Level: medium — The company is in the development stage with significant R&D expenses and relies on continued funding to advance its pipeline.

Key Numbers

• $27.1M — Cash and Cash Equivalents (As of June 30, 2024, indicating liquidity.)
• $4.5M — R&D Expenses (For the three months ended June 30, 2024, showing investment in pipeline.)
• $3.8M — R&D Expenses (For the three months ended June 30, 2023, for comparison.)

Key Players & Entities

• DiaMedica Therapeutics Inc. (company) — Filer of the 10-Q
• $27.1 million (dollar_amount) — Cash and cash equivalents as of June 30, 2024
• $32.1 million (dollar_amount) — Cash and cash equivalents as of December 31, 2023
• $4.5 million (dollar_amount) — R&D expenses for the three months ended June 30, 2024
• $3.8 million (dollar_amount) — R&D expenses for the three months ended June 30, 2023

FAQ

Filing Documents

• dmtp20240630_10q.htm (10-Q) — 785KB
• ex_707476.htm (EX-31.1) — 13KB
• ex_707477.htm (EX-31.2) — 13KB
• ex_707478.htm (EX-32.1) — 5KB
• ex_707479.htm (EX-32.2) — 5KB
• dmtp20240630_10qimg001.jpg (GRAPHIC) — 19KB
• 0001437749-24-025198.txt ( ) — 4165KB
• dmac-20240630.xsd (EX-101.SCH) — 40KB
• dmac-20240630_def.xml (EX-101.DEF) — 269KB
• dmac-20240630_lab.xml (EX-101.LAB) — 226KB
• dmac-20240630_pre.xml (EX-101.PRE) — 293KB
• dmac-20240630_cal.xml (EX-101.CAL) — 31KB
• dmtp20240630_10q_htm.xml (XML) — 579KB

Financial Statements

Financial Statements 3 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 14 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 20 Item 4.

Controls and Procedures

Controls and Procedures 20 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 21 Item 1A.

Risk Factors

Risk Factors 21 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 22 Item 3. Defaults Upon Senior Securities 22 Item 4. Mine Safety Disclosures 22 Item 5. Other Information 22 Item 6. Exhibits 23 SIGNATURE PAGE 24 This quarterly report on Form 10-Q contains certain forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended, that are subject to the safe harbor created by those sections. For more information, see " Cautionary Note Regarding Forward-Looking Statements. " As used in this report, references to " DiaMedica, " the " Company, " " we, " " our " or " us, " unless the context otherwise requires, refer to DiaMedica Therapeutics Inc. and its subsidiaries, all of which are consolidated in DiaMedica ' s condensed consolidated financial statements. References in this report to " common shares " mean our voting common shares, no par value per share. We own various unregistered trademarks and service marks, including our corporate logo. Solely for convenience, the trademarks and trade names in this report are referred to without the and symbols, but such references should not be construed as any indicator that the owner of such trademarks and trade names will not assert, to the fullest extent under applicable law, their rights thereto. We do not intend the use or display of other companies ' trademarks and trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION ITEM 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS DiaMedica Therapeutics Inc. Condensed Consolidated Balance Sheets (In thousands, except share amounts) June 30, 2024 December 31, 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 14,066 $ 4,543 Marketable securities 39,989 48,352 Prepaid expenses and other assets 568 411 Amounts receivable 391 369 Total current assets 55,014 53,675 Non-current assets: Deposits 1,308 — Operating lease right-of-use asset, net 317 354 Property and equipment, net 152 131 Total non-current assets 1,777 485 Total assets $ 56,791 $ 54,160 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 759 $ 926 Accrued liabilities 2,229 1,777 Operating lease obligation 85 80 Finance lease obligation 15 3 Total current liabilities 3,088 2,786 Non-current liabilities: Operating lease obligation 272 316 Finance lease obligation 16 1 Total non-current liabilities 288 317 Shareholders' equity: Common shares, no par value; unlimited authorized; 42,692,582 and 37,958,000 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively — — Paid-in capital 179,294 166,609 Accumulated other comprehensive income (loss) ( 51 ) 6 Accumulated deficit ( 125,828 ) ( 115,558 ) Total shareholders' equity 53,415 51,057 Total liabilities and shareholders' equity $ 56,791 $ 54,160 See accompanying notes to the condensed consolidated financial statements. 3 DiaMedica Therapeutics Inc. Condensed Consolidated Statements of Operations and Comprehensive Loss (In thousands, except share and per share amounts) (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating expenses: Research and development $ 3,928 $ 2,543 $ 7,604 $ 6,161 General and administrative 1,710 2,198 3,775 4,101 Operating loss ( 5,638 ) ( 4,741 ) (

View Full Filing

View this 10-Q filing on SEC EDGAR