DiaMedica Therapeutics Inc. DMAC
We are a clinical-stage biopharmaceutical company committed to improving the lives of people suffering from severe ischemic disease with two main clinical programs focused on preeclampsia (PE) / fetal growth restriction (FGR) and acute ischemic stroke (AIS). Our lead candidate DM199 (rinvecalinase alfa), is the first pharmaceutically active recombinant (synthetic) form of the human tissue kallikrein-1 (rhKLK1) protein to be clinically studied in patients and has been granted Fast Track Designation by the U.S. Food and Drug Administration (FDA) for the treatment of AIS. Kallikrein-1 (KLK1), extracted from human urine, is an established therapeutic modality in Asia for the treatment of AIS, and KLK1 produced from pig pancreas, is an established therapeutic modality for the treatment of cardio renal disease, including hypertension, in Asia. We plan to advance DM199 through required clinical trials to create shareholder value by establishing its clinical and commercial potential as a therapy for PE, FGR and AIS. Longer term, we plan to develop DM300, our patented recombinant human ulinastatin, a broad-spectrum serine protease inhibitor, as a potential therapy for severe acute pancreatitis.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — | $500.0K | — | — |
| R&D | $24.6M | $19.1M | $13.1M | $7.8M | $8.8M | $8.2M | $7.9M | $4.5M | $3.2M | — |
| SG&A | $9.8M | $7.6M | $8.2M | $6.2M | $4.9M | $4.5M | $3.7M | $2.7M | $1.3M | — |
| Total operating expenses | $34.4M | $26.7M | $21.3M | $14.0M | $13.6M | $12.7M | $11.6M | $7.3M | $4.5M | — |
| Operating income | -$34.4M | -$26.7M | -$21.3M | -$14.0M | -$13.6M | -$12.7M | -$11.6M | -$6.8M | -$4.5M | — |
| Pre-tax income | -$32.7M | -$24.4M | -$19.3M | -$13.6M | -$13.6M | -$12.3M | -$10.6M | -$5.7M | -$4.3M | — |
| Income tax | $28.0K | $30.0K | $43.0K | $28.0K | $28.0K | $27.0K | $31.0K | $80.0K | — | — |
| Net income | -$32.8M | -$24.4M | -$19.4M | -$13.7M | -$13.6M | -$12.3M | -$10.6M | -$5.7M | -$4.3M | — |
| EPS, basic | -0.70 | -0.60 | -0.60 | -0.52 | -0.65 | — | — | — | — | — |
| EPS, diluted | — | — | — | — | -0.65 | -0.78 | -0.89 | -0.74 | -0.72 | — |
| Shares, diluted (wtd. avg.) | $47.0M | $40.4M | $32.6M | $26.4M | $20.8M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $15.6M | $3.0M | $4.5M | $4.7M | $4.7M | $7.4M | $3.9M | $16.8M | $1.4M | — |
| Short-term investments | $44.2M | $41.1M | $48.4M | $28.8M | $40.4M | $20.1M | $4.0M | — | — | — |
| Receivables | $258.0K | $236.0K | $369.0K | $82.0K | $130.0K | $340.0K | $823.0K | $780.0K | $80.0K | — |
| Total current assets | $60.6M | $44.6M | $53.7M | $33.8M | $45.4M | $27.9M | $8.8M | $18.0M | $1.5M | — |
| Property, plant and equipment | $145.0K | $148.0K | $131.0K | $136.0K | $70.0K | $74.0K | $64.0K | $96.0K | $37.0K | — |
| Total assets | $61.4M | $46.3M | $54.2M | $34.4M | $45.6M | $28.1M | $9.1M | $18.3M | $1.8M | — |
| Accounts payable | $1.5M | $940.0K | $926.0K | $734.0K | $509.0K | $1.1M | $182.0K | $483.0K | $919.0K | — |
| Total current liabilities | $5.1M | $5.4M | $2.8M | $2.2M | $1.5M | $2.0M | $1.3M | $1.3M | $1.0M | — |
| Retained earnings | -$172.8M | -$140.0M | -$115.6M | -$96.2M | -$82.5M | -$68.9M | -$56.6M | -$46.0M | -$40.2M | — |
| Total equity | $56.1M | $40.7M | $51.1M | $31.8M | $44.0M | $26.0M | $7.6M | $17.0M | $799.0K | $1.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$29.1M | -$22.1M | -$18.7M | -$11.5M | -$12.3M | -$9.2M | -$9.1M | -$5.7M | -$3.9M | — |
| Depreciation and amortisation | $43.0K | $39.0K | $30.0K | $25.0K | $24.0K | $21.0K | $21.0K | $15.0K | $4.0K | — |
| Stock-based compensation | $3.8M | $2.1M | $1.7M | $1.5M | $1.6M | $1.8M | $1.2M | $620.0K | $409.0K | — |
| Capital expenditure | $40.0K | $25.0K | $24.0K | $81.0K | $22.0K | $47.0K | $2.0K | $50.0K | $22.0K | — |
| Investing cash flow | -$2.2M | $8.6M | -$18.3M | $11.5M | -$20.5M | -$16.1M | -$3.9M | -$50.0K | -$22.0K | — |
| Financing cash flow | $43.9M | $12.0M | $36.8M | -$6.0K | $30.1M | $28.8M | $70.0K | $21.2M | $3.5M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-010342.
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