In a remarkable display of market confidence, Diamedica Therapeutics Inc (NASDAQ:DMAC) stock has reached a 52-week high, touching $4.95 in a recent trading session. This peak represents a significant milestone for the company, reflecting a robust upward trend over the past year. Investors have rallied behind DMAC, propelling the stock to new heights and marking an impressive 1-year change of 85.69%. The surge to the 52-week high underscores the positive sentiment surrounding the company's prospects and the strong investor belief in its potential for continued growth.
In other recent news, DiaMedica Therapeutics has reported significant advancements in their Acute Ischemic Stroke (AIS) study and preeclampsia program during the third quarter of 2024. The company has activated or contracted 13 of the top 15 U.S. sites for AIS study and received regulatory approval for their preeclampsia program in South Africa. Furthermore, updates to the ReMEDy2 trial protocol are projected to save over $10 million and enhance the trial's success rate.
Despite a minor decrease in the cash balance to $50.2 million, DiaMedica is confident in its financial position until the third quarter of 2026. The company is also optimistic about the year 2025, as it continues to develop DM199 for disease-modifying treatments.
In other developments, DiaMedica has the potential to add $1 billion in U.S. revenue annually by expanding DM199's label to include tPA non-responders. However, the interim analysis results for the ReMEDy2 trial have been postponed to the fourth quarter of 2025. DiaMedica remains committed to advancing its clinical programs and enhancing the commercial potential of DM199.
InvestingPro Insights
The recent surge in Diamedica Therapeutics Inc (DMAC) stock to its 52-week high is further supported by InvestingPro data, which reveals a remarkable 75.67% price total return over the past year. This aligns closely with the article's reported 85.69% 1-year change, confirming the stock's strong performance.
InvestingPro Tips highlight that DMAC is trading near its 52-week high and has experienced a large price uptick over the last six months. Indeed, the data shows a substantial 60.42% price total return over the past six months, indicating sustained momentum beyond the annual performance mentioned in the article.
Despite the impressive stock performance, it's worth noting that DMAC is not currently profitable, with a negative EBITDA of -$24.07 million in the last twelve months. This suggests that investors are betting on the company's future potential rather than its current financial results.
For readers interested in a deeper analysis, InvestingPro offers 11 additional tips for DMAC, providing a more comprehensive view of the company's financial health and market position.
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