DMAC - Earnings call transcript Q2 2024 | DiaMedica Therapeutics Inc.

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Operator

Good morning, ladies and gentlemen, and welcome to the DiaMedica Therapeutics Second Quarter 2024 Conference Call. An audio recording of the webcast will be available shortly after the call today on DiaMedica's website at www.diamedica.com in the Investor Relations section.

Before DiaMedica proceeds with its remarks, please note that the company will be making ford 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.

For 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 and the second quarter report on Form 10-Q. available and are its filings SEC at on www.sec.gov website. DiaMedica's

no made note August call may rereading. at DiaMedica that update or also duty forward-looking any on time X, be of the any and disclaims today, Please transcript of statements. comments today's replay accurate as speak XXXX, to any longer its only

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

Dietrich Pauls

to Thank joined you, operator. our Lorianne Officer; Hello, second by Chief morning Kellen, conference everyone, Masuoka, am and Financial I Scott Chief Medical welcome and call. Dr. our quarter this our Officer.

our we're we down on likely analysis. we entire trial. trial, sites We turn and the from their to interim and quality make some ReMEDyX on research level for investigators continue in believe am and sites. of is interest potential I engage highest will to ReMEDyX The sites progress the Everyone and have tirelessly track high participation team. to the remains the our facilitate of grateful to working

on Lorianne you our turn brief Let me stroke for a over to program. update

Lorianne Masuoka

Thanks, Rick.

echoing me Let by Rick's start comments.

solid gaining with We a are the making activities, trial. are activation progress much our for and we site ReMEDyX welcome momentum

process lead believe increasingly the momentum be effects gain challenging. very our related communications to We that using start-up is the is hospitals. sites. continues staffing of continued the to people to due shortages this much study to with the to Moving at sites believe research direct of We

and appreciation being their noted directly to in already clarity with able DiaMedica have for the deal sites responsiveness personnel. Many

and responses seeing from process. we're sites more sites, result, a through the As start-up working existing both rapid

we month. rapidly multiple XX momentum, ability have highest believe the meaning identified which part enroll, enroll participants potential have this each to sites, we building the of As to

end the those we to sites. recruiting these expect X prioritized engaging and of We have this at XX By active. have of sites least quarter, XX

sites to X.X each XX analysis just us participants perspective, enrollment would get month interim For enrolling within X months. our

and experiences teams. study At XX. meeting, both was of we a their principal July of between in dialogue of with engagement study we sites, the The a processes. thoughts clinical variety on investigators part teams, our begin of purpose study amongst activation points a friendly and As to had establish coordinators and meeting ongoing their notes meeting tremendous some enrollment study to the compare and a built on teams, with research sticking the participant competition our getting dialogue on site the this held

impediments to efficiencies increase work on ensure feel back eliminating that supported. over I call mitigating to study continue Rick. will We now to sites the turn or and well

Dietrich Pauls

Lorianne. you, Thank

momentum ReMEDyX the XXX high-quality we that Based respect to able research quarter end centered of XXXX. the on Our for we'll for focus the by the building the team, the interim institutions. of upon with with to believe remains analysis full first the trial enrollment achieve progress patients, be of

to may Europe. excited in approved no currently suited and the that options next preeclampsia DM-XXX benefits very significant this bring the therapeutic announce begin were This U.S. in DM-XXX which uniquely believe has patient quarter, severe our a also we pregnancy, disorder patients, or is that indication hypertensive to discussing We population.

research treat firsthand had leader provide excitement also to their opinion a respected highly preeclampsia during call, to able we DMXXX the team Last introduce for insights preeclampsia. where to were they key month, and our opportunity

more from stroke our ask about study operations like a working little to Lorianne? fortunate conduct clinical Lorianne incredibly to are We trial. team the ReMEDyX a speak this to program. team them the without being and with able bit be in support to distracting the of preeclampsia I'd

Lorianne Masuoka

in information the reiterate won't the I Rick. press release. Thanks,

working Stellenbosch have specific to we to Stephen point University of I'll to happy questions, from how from out however this and team University, the experience Professor be the MD do Q&A. potential Walker, MD-PhD Professor Melbourne. Professor excited you Melbourne, levels are of want them Globally, during PhD in preeclampsia the of If with answer MD and Susan University Cluver, has highest I the Tong, studying be PhD therapeutics. trialing Catherine various from of one

be in fortunate graciously for a are with to We to They participated us last KOL work very call them. able month.

preeclampsia ARBs, that recent reason. and hypertension with sildenafil, for that limited contraindicated some very at to barrier for baby. for with discussed treatment molecule a are in Unfortunately, The ACE affect oxide As cross pressure for nitric treatment women it show because to to the potential which passes due therapeutics, issues risks the blood was it's these and small first-line placental pathway. new placental adversely are serious only and treatments the drug, signaling the associated cause augments lower babies. very call, the inhibitors options barrier this

research DMXXX of highly is Our it beneficial production factors. including and oxide other ability prostacyclin increase hyperpolarizing endothelium-derived the team to in has molecules, as demonstrated and interested nitric

highly and Given potentially the placental by multiple mother something the rapid blood in usually is in organ barrier, of seizures, to large that spike failure a even confirmed DMXXX baby. nonclinical causing a testing. death is pressure marked molecule, unlikely it is or Preeclampsia cross stroke,

in the DMXXX can only Preeclampsia reduce X% births pressure, affects way all to is blood the XXX,XXX annually U.S. and reduce which ability population as group X% to optimistic the hypertensive XXX,XXX to baby, impacting of to done the as well. it we rapidly to related stop and As we're deliver that patients pregnancy growing. DMXXX the trial, and years blood in Clearly, this disease pressure in is has of oftentimes progression X is saw disorders approximately today, prematurely. of ReMEDyX ago

a growth. potential dilates therapy to and DMXXX placenta. has also disease-modifying be would arteries blood enhanced DMXXX the to improves to the fetal this We If aim that intrauterine flow demonstrate that and proven, suggest the

with We our the the wait believe for and for both DMXXX best-in-class to outcomes improve to fetus signals. potential don't we course, And the initial of has ability first-in-class mother. long preeclampsia, and have for

fourth Cluver in enrolling begin experienced severe excited quarter this first in line battle part life-threatening very the with top to this Professor for available condition. potential my preeclampsia, year having I'm the After expect be own to We XXXX. of potentially half with sometime treatment of results a of developing

Dietrich Pauls

conducting we'll Thank of first the XXXX. dilate focused pressure operations lower patients, It's valuable From highlight clinical preeclampsia to the a Moreover, into our important you, and intrauterine collaborators trial, trial. potential with keeps it our data trial. arteries Lorianne. ReMEDyX group to of blood half in also gain efficiency the DMXXX's the insights this in results with the on standpoint, research

Now call quarter's Kellen hand Scott the to I'd like review this results. over financial to to

Scott Kellen

thank into XX, $XX.X end million accredited XXXX. morning, everyone, of call. topped combined QX the investments million. extending were cash private you equivalents, of XXXX up for cash, with being Net good million $XX.X this proceeds of completion million, and We our our transaction Thanks, this June of part balance placement approximately sheet as our increased cash an With the today's financing, from up of XXXX. $XX.X from to with Rick, and investors, June $XX.X considerably and runway in effectively

operating year. Net million vendors primarily of used $XX.X XXXX, to same ReMEDyX our during cash increase activities compared ended June year in was in was advance for by million X The the XX, period. $XX.X in the supporting clinical current period used the the cash funds deposit operating prior driven in months activities of trial to the

$X.X up XX, XX, to the XXXX, period. XX, compared research X Our June from $X.X for million XXXX. ended months months million XXXX, and $X.X increased months June million X development for X to prior ended year to expenses the $X.X the expenses for the million in increased ended June R&D

XXXX, Phase hold And cost in and of were staffing XC the reductions completion costs continuation to trial by our related our the ReMEDyX These driven work our clinical expansion offset on clinical increased completed study team. in-use work of related increases to trial to clinical of partially REDUX in increases our specifically XXXX address the ReMEDyX These the clinical performed trial. trials. the and by

increase continue. expenses periods, we site to R&D and our recent relative expect expand globally moderately We trial activations to enrollment participant the ReMEDyX as prior and

officers These our of PRA increased from resulted liability insurance the of reduction share-based combination with team offset in fees decreased costs, million XXXX. ended June costs. XXXX, months lawsuit expanding noncash against related ended the from administrative the an and connection XX, June to June directors down and down $X.X for incurred X personnel compensation premiums, increased XX, expenses the Our by Netherlands, $X.X legal XXXX. in decreases XXXX, G&A X partially expenses ended months X for million XX, $X.X months $X.X for were the and general X ended months million the from June were our cost million of and for XX, a the

our periods was interest recognized $XXX,XXX G&A compared as year the let million XX, XX, months X to the the balances June ask net to months for operator periods in current during open compared remain respectively. and to to expenses June X the income recent $XXX,XXX ended compared X XXXX, $X.X steady and ended for and periods. the respectively, for $XXX,XXX X expect and We Other prior during periods, lines With These increases as the income same were driven questions. that, prior me by year related to higher the increased securities current the year. to marketable XXXX,

Operator

[Operator Instructions]

Street. Flaten Thomas from comes question Lake First with

Thomas Flaten

first your X results Lorianne, XX, know clarify or focused you and quarter were to the there on that indicated end many speak? during you're call, -- active, as are sites active enrolling at just Rick, we were that and I perhaps the how

Dietrich Pauls

do Lorianne, one? to that you want take

Lorianne Masuoka

Certainly.

X clinicaltrials.gov a XX between on activated. clinicaltrials.gov, So We what as sites currently have it actuals and sites. seen lists the always on is you have There may is website. lag

Thomas Flaten

good as way they Or enrollment conservative high there is enroller for the type least at enrollment? are And sites? the pacing estimate more as your

Lorianne Masuoka

the not sites high of sites X sites have believe enrolling. It's high quite end high QX. we'll a that top feel XX out up enrolling the as and high of of are combination enroller enrolling, XX we by We running and

that does your question? So answer

Thomas Flaten

Africa preeclampsia are helpful. that's that by how team, you sense have in being or super you -- Cluver to and And the of that's led respect now. going? dynamic Dr. and is Do study, any Is with it Yes, in guys you process regulatory her process? guys the a South right

Lorianne Masuoka

be being her Cluver That's team, extremely and going to Dr. well. by it Yes. led appears and

Operator

Craig Hallum. Knickerbocker from comes question with next Chase Our

Unknown Analyst

for Jacob Chase. It's on

So have has for feel you? me. just you you failures screening Do in good the screening causing about place, one anything question surprised that criteria

Lorianne Masuoka

good about process. our feel do We screening

rate. looking ways are enrollment our for to We always improve

we And can developments be so actually, a there done little very that will the at nothing down that population or is coming some we enrolling feel them. there are for help But whom moment, be future to the pipe.

patient very other option. with population a large is no treatment this So

Operator

over call And you this to comments. time. the further at Pauls, we questions do will not I have any for Mr. closing turn

Dietrich Pauls

All right. Thank you.

So call this morning we'd Thank continued for and like for with forward We this concludes us thank to your today. support. you. update. our the everyone next joining that, to look And

Operator

concludes your that Ladies and for conference call gentlemen, you lines. We for ask this your please disconnect and thank today. participating you

DiaMedica Therapeutics (DMAC) 8 Aug 242024 Q2 Earnings call transcript