As of the last check, DiaMedica Therapeutics Inc. (DMAC) shares were down -22.45% to $5.56 in pre-market trading. DiaMedica stock finished Monday session at $7.17, down by -1.92%. Volume of DMAC stock stood at 78024.0 shares, down from the average daily volume of 0.11 million shares during the past 50 days. Within the past week, DMAC shares have fallen -4.40% and it has a decline of 6.70 percent over the last year.
DMAC stock has lost -21.21 percent in the past three months and lost -25.62 percent in the past six months. Furthermore, DMAC has a market capitalization of $133.08 million, with 18.77 million outstanding shares. Despite a positive interim study result, DMAC stock fell.
What was DMAC’s study about?
Currently, DiaMedica is a clinical-stage biopharmaceutical company dedicated to improving the lives of people affected by neurological and chronic kidney diseases. A positive interim result has been announced today from DiaMedica’s REDUX Phase 2 trial of DM199 in chronic kidney disease (CKD). Three population groups with high medical needs are being studied by DMAC in the REDUX trial including African Americans (AA) with:
- non-diabetic and hypertensive (Cohort 1);
- IgA Nephropathy (IgAN) (Cohort 2); and
- diabetic kidney disease (DKD) (Cohort 3).
- Participants had proteinuria and a glomerular filtration rate of 30-90 ml/min/1.73m2.
- DMAC found the development of kidney function improvements in Cohort 1 and 2 of DM199 has been demonstrated by increasing the estimated glomerular filtration rate (eGFR) and reducing urine albumin-to-creatinine ratio (UACR).
- Furthermore, DMAC’s DM199 helped lower blood pressure by clinically significant amounts in those with hypertension (Cohorts 1 and 3).
- None of the cohorts experienced severe adverse events (SAEs) or had to discontinue treatment due to adverse events (AEs) associated with DM199.
- In general, AEs observed by DMAC were mild to moderate in severity, with local injection site irritation being the most common.
- Further clinical evaluation of the biological activity of recombinant KLK1 (DM199) confirms its potency and will support DMAC to achieve clinical benefit similar to or better than that provided by exogenous KLK1.
- A pivotal Phase 2/3 study in acute ischemic stroke will be begun later this summer, as DMAC continues to evaluate DM199 in IgAN and hypertensive African Americans with CKD.
What those results mean for DMAC?
Though these are preliminary results but have demonstrated that DM199 can be an effective treatment option by DiaMedica (DMAC) for patients with kidney disease who have significant unmet needs, including African Americans with uncontrolled hypertension. DMAC’s DM199 is shown to have important physiological effects on eGFR, UACR, and blood pressure, which warrants further research.