DiaMedica Therapeutics Inc. Common Stock 2026 Q2 Earnings Call
Review the key takeaways and the transcript of this earnings call.
- DiaMedica Therapeutics completed enrollment in the first cohort of the phase two early onset fetal growth restriction (FGR) study, treating six participants at the 5 microgram per kilogram dose level.
- The extension cohort from part one A of the late onset preeclampsia study was completed, with combined results supporting mid dose range selection for early onset fetal growth restriction and preeclampsia studies.
- Enrollment in the phase 2/3 Remedi two acute ischemic stroke study surpassed 85% of the 200 patients required for the interim efficacy analysis, expected in Q1 2027.
- Q2 2026 cash, cash equivalents, and short-term investments were $43.5 million, with working capital of $37.7 million, down from $59.9 million and $55.5 million respectively at year-end 2025.
- R&D expenses increased to $8.2 million for Q2 2026 from $5.8 million in Q2 2025, driven by clinical team expansion, trial continuation, reproductive toxicity testing, manufacturing, and share-based compensation.
- General and administrative expenses were $2.3 million for Q2 2026, slightly up from $2.2 million in Q2 2025, due to increased share-based compensation and professional fees.
- The highest dose cohort in the late onset preeclampsia study showed statistically significant reductions in systolic and diastolic blood pressure and uterine artery pulsatility index, indicating improved uteroplacental blood flow.
- The company plans to present full late onset preeclampsia data at a medical conference and submit for peer-reviewed publication later in 2026.
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Transcript
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Morning, ladies and gentlemen, and welcome to the DiaMedica Therapeutics second quarter 2026 earnings conference call. An audio recording of this webcast will be available shortly after the call today on diamedica.com in the investor relations section. Before the company proceeds with its remarks, please note that the company will be making forward-looking statements on today's call. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in these statements. More information, including factors that could cause actual results to differ from projected results, appear in the section entitled "Cautionary Statements Note Regarding Forward-Looking Statements" in the company's press release issued yesterday and under the heading "Risk Factors" in DiaMedica's most recent annual report on Form 10-K and most recent quarterly report on Form 10-Q. DiaMedica's SEC filings are available at www.sec.gov and on its website.
Please also note that any comments made on today's call speak only as of today, August 11, 2026, and may no longer be accurate at the time of any replay or transcript rereading. Following management's remarks, we will open the phone lines for questions. I would now like to introduce your host for today's call, Rick Pauls, DiaMedica's President and Chief Executive Officer. Mr. Pauls, you may begin.
Thank you, Morgan, and thank you all for joining us today. With me this morning are Dr. Julie Krop, our Chief Medical Officer, and Scott Kellen, our Chief Financial Officer. Q2 was an important quarter for DiaMedica with progress across DM19 in early onset fetal growth restriction, preeclampsia, and acute ischemic stroke. We advanced our pregnancy-related clinical strategy, continued preparations for our phase II early onset preeclampsia study in Canada and the U.K., and made further progress towards reaching the planned phase II/III ReMEDy2 interim analysis in acute ischemic stroke. There are four key updates I would like to highlight. First, with respect to the IST being conducted by Professor Kluver, enrollment has been completed in the first cohort of the phase II early onset fetal growth restriction study. The cohort consists of six participants treated at the 5 microgram per kg dose level.
This is important as it expands the clinical use of DM19 into a second serious women's health disorder for which there are no approved therapies. We plan to host a KOL event in September with Professor Kathy Kluver, the study's principal investigator, and other experts to discuss the potential of DM19 in fetal growth restriction and share top-line results for the completed first cohort open-label phase II trial. Second, the extension cohort from the Part 1a of the IST has been completed. This was the initial dose escalation cohort treating women with late-stage preeclampsia. The combined results from the dose escalation and extension groups were important, as noted in our earnings press release, as they provide the clinical support driving the selection of the mid-dose range for the evaluation, both for early onset fetal growth restriction and early onset preeclampsia studies.
Julie will review the data later in the call. Third, we continue to advance our early onset preeclampsia programs on the regulatory and operational fronts, which I will discuss in a moment. Fourth, ReMEDy2, our phase II/III acute ischemic stroke study, is approaching the 200th patient required to trigger the pre-specified interim efficacy analysis. Although enrollment slowed somewhat in July, we now have surpassed 85% of the enrollment target, and we anticipate the interim analysis readout in the first quarter of 2027. As a reminder, DM199's recombinant form of the naturally occurring human KLK1 protein. KLK1 is a serum protease that acts through the BK2 receptors present in endothelial blood vessels to restore the body's natural ability to increase levels of nitric oxide, prostacyclin, and endothelial-derived hyperpolarizing factors.
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