DiaMedica Therapeutics Announces $37.5M Private Placement Of 11,011,406 Common Shares At A Purchase Price Of $3.40/Share
Portfolio Pulse from Happy Mohamed
DiaMedica Therapeutics (NASDAQ:DMAC) has announced a $37.5 million private placement of 11,011,406 common shares at $3.40 per share. The proceeds will be used to fund clinical and product development activities for DM199, including the ReMEDy2 clinical trial. The FDA has also removed the clinical hold on the ReMEDy2 trial.
June 21, 2023 | 12:42 pm
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DiaMedica Therapeutics raises $37.5M through private placement to fund DM199 development and ReMEDy2 clinical trial. FDA lifts clinical hold.
The private placement will provide DiaMedica with the necessary funds to continue its clinical and product development activities for DM199, including the ReMEDy2 clinical trial. The FDA's removal of the clinical hold on the ReMEDy2 trial is a positive development for the company, as it allows the trial to proceed. Both of these factors are likely to have a positive short-term impact on DMAC's stock price.
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