DMAC - Earnings call transcript Q1 2022 | DiaMedica Therapeutics Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good morning, ladies and gentlemen, and welcome to the DiaMedica Therapeutics First Quarter 2022 Conference Call. An audio recording of the webcast would be available shortly after the call today on DiaMedica's website at www.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 appears in the section entitled Cautionary Statement 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. available and are its filings SEC at on www.sec.gov website. DiaMedica's longer on that X, speak no the any transcript note replay today's of XXXX, accurate any time comments may May Please rereading. today made call or at of only and be as any to duty disclaims its forward-looking DiaMedica statements. update

you open Officer. remarks, DiaMedica's begin. for for today's may Rick phone Pauls, questions. Mr. introduce I Following the the to host prepared would and your Executive Chief President Pauls, we will lines now like call

Rick Pauls

pleased last have like alone. since than months update. physical Thank want ReMEDyX this to recoveries Remember, patients, we the options that in be you, and this improve off to speak clinical care. the Scott Julie. Kirsten Dr. stroke to on ask Good morning, welcome made progress supportive trial patients potential Officer; studying addressing stroke to start CFO, acute share our two is call. you XX, Medical March and by our are Kellen won't and everyone, I our today conference considerable our a XXXX a Kirsten Less other than I'm progress, million first current which Chief today in to I'd Gruis, morning. with able of have half to no DMXXX who sick in the represents treatment quarter we about we rate group I'm U.S. joined ischemic call, stroke and in happy our the are provide to to be us. recurrence a joining

Kirsten Gruis

good to engagement activation, solid trial and finishing morning, which and will We've everyone. you, make site key continued and efficiently. progress this timely be on Thank to Rick,

and and advisors reported leaves to home. many recognizing hospitals burden study ultimately June, issue to able and administrative the on call, have the as the last target with where and assistance study a In to target. restore to staffing concerns is staff further patient the to below they intend our we study and capacity, benefit patients. at the brought to address important Today, the and manage result on resources, normally recognized as can study the staff hospital. is to with their their over team patients able recruit. site study of supplemental from to may that with the From those teams their providing approximately recruit site we've assist minimize clinical us study inhibiting not they after both have treatment nine study us additional team. To can staff, their ability as we full enroll that of adequacy the with over management from corporate service research. coordinator be sites recently the aligned one discussions receive transition we've that in physician, study Equally sites rest a we providing an XX others, they the otherwise to As this, care to are support we sites of participation the support had the the of the firm would facility In running activated the patient many sites our of the research engaging had sites, intermediate been three-week patient's situation understand nationally a in hospital recruitment the and in staffing that which by the number on activated have meaning understandably is This the have site hospital being patient patient able uncertainty enrolling and the to barrier levels. activated, four a to is pre-pandemic our study

Rick Pauls

Thank you, Kirsten.

in issues. very we clinical the staffing solutions trial, a to deal team drive be to developing sites proactively into with enrollment as continue pleased of creative stroke So hospitals to board bringing are with and our rhythm getting even on clinical

in study of call, potential, see clinical sites patient we discussed the very prioritizing can interested highest month. one enrollment sites last have our we rates. this help achieve that that enroll solution staffing per I'm are ideally As our if plus to those type can enrollment

to the therapeutic form stress of deeply synthetic KLKX bullish patients. KLKX risk urine-derived hundred we prospect first the committed So DMXXX, where the active has of new The study action form I has that DMXXX first the the thousand patients market, urinary reported consistent our stroke of the from And recurrence. XXXX. represents is on patients still on potential been with the since were of of protein several Asia the to protein results are results want in This ReMEDyX with why recoveries and approved to we KLKX. mechanism the are reducing treated in DMXXX. pharmaceutically of advancing offer a improving

treated at let the So patient each patient. stroke trials. is weeks in for to XX ReMEDyX quite period days Patients reiterate our three other and trial for are relative final the treatment short that me follow-up is

to continue expect XXXX. interim We analysis we ReMEDyX that for the complete will during

closer. provide will more on when We guidance exactly get we

and levels kidney to strongly kidney with ability function low our briefly We in improve chronic disease restoring controlling patients pressure patients DMXXX our of unique believe to both of KLKX. program. CKD in by in in hypertensive CKD chronics, blood Turning the our or

therapy data much last next mentioned final to call, bring selection we CKD are lead including preparing collecting we steps, As focused on our of a of on patients. could cause and needed that

to analysis in continue and African-American hypertensive final strong nephropathy the the IG dataset the population. will signals full for expect demonstrate of We the

closed. focus to or financial of market the reports on to documents now, website. yesterday filed announced our These move our are a our available first forward program. the review on SEC we We I are main and plan DiaMedica quarter While with CKD XX-Q stoke financials. now right developing our is a results like provide Form after would quarterly either

balance start sheet. the Let with me

March cash combined XX, investments of $XX.X December down million, and $X.X XXXX, from $XX million totaled our XX, million at As XXXX.

lower months in the to manufacturing of enrollment by in trial, decrease compared of up the insurance of believe three This programs. and operations three incurred year and the XXXX. million costs, XXXX, which million we partially process our months a first ReMEDyX XXXX and related our million clinical incurred compared the with the by mainly higher prior stroke for only personnel cash and the clinical were increased in first three $X of These months first professional a in to increase the the REDUX period. of completed increased quarter. decreases from development $X.X first XXXX, strength of related Research support early $XXX,XXX and and $XXX,XXX. was officers’ work support This costs CKD DMXXX quarter services year to current DMXXX for current will costs General from resulted in million driven of clinical months decrease the our administrative expansion trial balance offset sheet, and a were XXXX costs $X.X development team for expenses patient of and reduction our into year $X.X in our personnel directors’ costs liability as were XXXX. the operations combination for expenses of a of the expanding balance development in three With level December the

quarter. productive made see, As you have can very we first

We our program. the on our in continue team members to expand sites brought patients and We progress two enroll make significant to trial. ReMEDyX to in AIS to the management key continue lead able

you we analyst. today. and like we the strong remains believe calls to could questions. sheet balance open Operator, that, our first With if you Finally, we'd on execute well reviewed positioned the we to introduce for the are please to plans

Operator

Thank you.

from question Please from Flaten Thomas Street Lake Capital Markets. go comes Your first ahead.

Thomas Flaten

guys. of like do that have activated the comment morning, productive already can you From Or Good a give these can of look you and have on what us Thanks. there anything be? sense to enrollment you sites how some there? just sites sense enrolling, rates

Rick Pauls

bit We're it’s these through just Thomas, – early. little still Yes. sites getting up. a getting

get site next been enrollment a per so four year for is patient target to every site Our the for per interim month, our one basically X.XX projections per analysis months. to has rate

but little that per of targeting able our enrollment well, to early, think we're ability prepared on more it's sites part as that plus I the we have site achieve remarks, really we And here, still month. we clarity coming rate. should that to the get over be a months, as one think So those bit mentioned that

Thomas Flaten

on early XXXX, in prepared the is the said just just said the I XXXX, think first in half you to remarks, XXXX? clarify then have goal to analysis it interim And you still and on and

Rick Pauls

Yes.

half first hoping So that'll year. our XXXX we're the guidance still that is of the and be

Thomas Flaten

any the what to And question. CKD then one CKD that that to cash quick Is runaway development? cash just respect respect contemplate investment it. projection? With more there in is Got with runway,

Rick Pauls

Very little.

is internal on really this our trial. cash Our and stroke focus

Thomas Flaten

Great. Appreciate it. Thanks guys.

Rick Pauls

Thanks, Thomas.

Operator

Your question from comes ahead. Group. Craig-Hallum Alex Nowak Capital Please from go next

Alexander Nowak

Good morning, everyone.

curious, the support and Just incremental for stroke the [indiscernible]? what's in the live adding study go for service cost then did study the when that

Rick Pauls

it'll the last next really months. getting weeks, over start be things early is terms it's that and so hundred started into built will XXXX. expected cash but the of – few here And current in thousand expense dollars, part really So just budget been few our in kicking – up several of into this and still nothing that was our this out will

Alexander Nowak

and pursuing waning sites really that maybe kind for and in of been active to with you're pickup this conversation the just was sites sites? a more with just little these then studies, more couple And a are talking on sites of the just actively the good. That's now, function months detail – now you've they're Okay. COVID here, enrolling having a

Rick Pauls

Yes.

mean, academic I of study nine it's hospital. up, just months can To think site take or I get depending a to if a an six both. easily it's a combination smaller it

in little And think and I clearly, doing of to So work available uptick last with think hospitals reduction is nine more the we contributing the I and we've resources, that it insights. the this that six, having combination months. over a in COVID really cases a is beds the the then think been also

Alexander Nowak

then you've personnel Understood. made very good investments. And some

enrollment the for need ready service investments think eventual be made commercialization ready a to should getting here? trial support additional in, You're adding get or standpoint, that how we stroke for from about to

Rick Pauls

Yes.

terms we of huge to staff. in very continue looking the our don't a but we'll increase to see team, So expand

have We our of kind into built current budget. all this

So the in is right terms have we for staffing our in we're team the that this CRO the using with clinical help that really with most internally of now. important study. us, particular, for balance It's to

need we part, yes Officer, and about Commercial – the really on ahead be January things are in what commercial in years In to Dom lay mean, we of year, of helping new and then just this of those a Chief product out, key I brought that terms the part, couple our thinking commercial a terms launch. Cundari, to

that's So commit it's really get of we all of going in now versus And amount a to that balance we it's as – to forward. launch. closer potential the cash terms

Alexander Nowak

Appreciate update. Excellent. Thank the you.

Rick Pauls

Thanks Alex.

Operator

comes question Francois go from ahead. next from Your Oppenheimer. Brisebois Please

Francois Brisebois

taking right. question. the All Thanks for

So sorry I'm mentioned total I reiterate, if target total is wondering, XX number just has but of to the still around to you be – changed? was expected just this, or that sites

Rick Pauls

Yes.

up really and with, plan to a focusing right on is there's our So happening activity near-term lot we're what now. of XX

interim can able higher really of then it's ideally adding get on nice be year, at to enrollers. the that next be a that study then near-term pace be to we can we sites so the focusing can remaining continue And we to throughout those then after. year, we'll on and so complete think And analysis that sites

Francois Brisebois

interim, the is around And patients? that be to supposed XXX still

Rick Pauls

Yes.

Francois Brisebois

the to mentioned, believe greater track sites, last than just to that or then sure the XX the and I phase. you pandemic were additionally about – and that were And related really contract these Is still that not – things on Okay. this engaged here? make under has in XX% delayed everything staffing startup here quarter issues

Rick Pauls

variables Yes. here the the first activation. The two are, site key one is,

can of or so that still another site getting contracting the the to six activated, And time weeks be so. from

ago patient upside four the of today. the weeks continuing the And we end sites target that's in at month, at in component so nine in X.XX. last second per rate is seven our and that rates, now, per Portland, were patient coming And always the is there's And then June XX we're in were con this internal And that's active, until then to pace be our here. here at the enrollment call, year.

terms challenges in So in that the that we're But active particular if running would great. be team has with is a going when hospital patients and these staffing sites understanding and company need that to the to trial the our those I is and new today having bringing higher, importantly, resources rate can clinical recruit getting us. been clinical consulting having challenges additional come help of hospitals in in in very at sites these help us think to the board really provide on of for

Francois Brisebois

Okay. we would maybe per did that you of few on better patient a going start would month? to is focusing you're have per – X.XX from that and a enrollment month we one patients Great. mention sites lastly, And the then color now, per that months maybe how idea even do site

Rick Pauls

Yes.

having should I here is then think nursing in part of that home months, over us specifically as additional color get some enrollment that this terms we rate. helping better the coming company work support. the with of with And

clarity. more get months coming the over hopefully should we So

Francois Brisebois

All right. Thank you.

Rick Pauls

Frank. Thanks,

Operator

go Piros from comes Please ahead. question next from Partners. ROTH Capital Your Elemer

Elemer Piros

Rick. Yes. morning, Good

question, think any at interfere I competing it you Do you to like may I that ask answer but this the know enrollment? programs identified actually would with to see your I anyway. that sites the

Rick Pauls

not. No, really we're

I studies targeting think the be treatment for which today more more a connected really to hour that and we're this really And has some four of are half seeing doing issue. thrombectomy. also window, companies but plays, mechanical are there's not studies that then that an ongoing is seemed that window for are

Elemer Piros

of is kidney which most current you to Thank the think partnering candidate? as landscape a you. considering And one promising Okay. do programs, the

Rick Pauls

Yes.

look hypertensive and at our still basket hypertensive pressure. patient population, hypertensive one feel things also maybe the phase, three African-Americans we albuminuria opportunity is in looking months. data we we at we're very We at patients. our XX%, look We and XX% we study we IG specifically blood an in the African-American our – drops If for the patients over and at look So that have in the today, our drops of more in set nephropathy large nephrosclerosis. both that

often is part that these are salt sensitive, mechanism. think of So which we patients are our a key

getting disease. So while focused key with here the see quietly And of patients to scenes here on have additional on real move very patients behind levels But of clearly feedback kidney some for there's these that we're we forward. aspect need we kidney where we're a stroke the program, which is cause that CKD here KLKX. think

a these levels, we can we great think potentially real for need treatment in we if option the could have So restore patients today.

Elemer Piros

Rick. much, Thank you very

Rick Pauls

Thank you, Elemer.

Operator

And turn closing the questions at will over to no presenters back I there this further are the call time. remarks. for

Rick Pauls

in Again, joining right. your this All we'd like for to interest our continued morning. that, us thank everyone appreciate today. with support. and concludes call your DiaMedica And We this

Operator

conference This concludes call. today’s

now Thank you. may You disconnect.

DiaMedica Therapeutics (DMAC) 7 May 222022 Q1 Earnings call transcript