DiaMedica Therapeutics Inc.
DMAC · Pharmaceutical Preparations · 53.9M shares · +38%/yr ↑ dilution · EDGAR filings ↗
Reference price $8.57 · est. market cap ~$462M — last insider purchase, 2025-11-25 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D44Clinical/early-stage biotech — stroke/kidney clinical, well-funded.
Strengths
- Liquidity — current ratio 11.8 (83rd)
Risks
- Pre-revenue, deep losses — per metrics
- Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
- Binary clinical & funding risk — per 10-K
Notable findings
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Cash burnNegative free cash flow (-29.1M)
- Chronic dilutionShare count +38%/yr over 3y (dilution, book value/share -2%)
- Trial resultTrial topline data reported — see 8-K for outcome 8-K ↗
- Trial readout soonUpcoming trial readout ~2026-12 — PHASE2/PHASE3 · Acute Stroke
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, CITADEL ADVISORS LLC, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
- New fund positionNotable fund(s) opened this quarter: RENAISSANCE TECHNOLOGIES LLC
Key metrics
Return on equity
-58.4%
Return on assets
-53.4%
Current ratio
11.8×
Free cash flow
-$29M
Tangible book value
$56M
Cash & investments
$60M
Cash runway
8q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-01-02 | Semba Charles Pauling | Grant | 3.4K | $8.42 |
| 2026-01-02 | Parsons James T. | Grant | 10K | $8.42 |
| 2026-01-02 | Giuffre Randall Michael | Grant | 6.2K | $8.42 |
| 2025-11-25 | STAHLBERG JAN | Buy | 73K | $8.57 |
| 2025-11-24 | STAHLBERG JAN | Buy | 40K | $7.89 |
| 2025-11-21 | STAHLBERG JAN | Buy | 209K | $7.41 |
| 2025-11-21 | Parsons James T. | Option exercise | 12K | $2.20 |
| 2025-11-20 | STAHLBERG JAN | Buy | 128K | $7.41 |
| 2025-11-19 | STAHLBERG JAN | Buy | 240K | $7.21 |
| 2025-11-18 | STAHLBERG JAN | Buy | 183K | $6.75 |
| 2025-11-17 | STAHLBERG JAN | Buy | 187K | $6.52 |
| 2025-08-27 | STAHLBERG JAN | Buy | 51K | $6.00 |
| 2025-08-26 | STAHLBERG JAN | Buy | 60K | $6.00 |
| 2025-08-25 | STAHLBERG JAN | Buy | 338K | $6.00 |
| 2025-08-22 | STAHLBERG JAN | Buy | 60K | $5.96 |
| 2025-08-21 | STAHLBERG JAN | Buy | 48K | $5.96 |
| 2025-08-20 | STAHLBERG JAN | Buy | 71K | $5.86 |
| 2025-08-15 | STAHLBERG JAN | Buy | 8.2K | $6.00 |
| 2025-08-14 | STAHLBERG JAN | Buy | 70K | $5.99 |
| 2025-08-13 | STAHLBERG JAN | Buy | 294K | $5.91 |
| 2025-07-23 | JACINTO RICHARD II | Buy | 400K | $3.50 |
| 2025-07-23 | STAHLBERG JAN | Buy | 1.5M | $3.50 |
| 2025-07-23 | Von Koch Thomas | Buy | 2.9M | $3.50 |
| 2025-04-07 | Pilnik Richard D. | Option exercise | 24K | $2.11 |
| 2025-02-13 | Giuffre Randall Michael | Option exercise | 12K | $2.11 |
| 2025-02-13 | Giuffre Randall Michael | Option exercise | 5.0K | $3.65 |
| 2025-01-02 | Parsons James T. | Grant | 16K | $5.34 |
| 2025-01-02 | Giuffre Randall Michael | Grant | 11K | $5.34 |
| 2025-01-02 | Kuntz Richard | Grant | 9.9K | $5.34 |
| 2025-01-02 | Pilnik Richard D. | Grant | 10K | $5.34 |
| 2025-01-02 | Semba Charles Pauling | Grant | 5.3K | $5.34 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT05065216 ↗ | Treatment of Acute Ischemic Stroke (ReMEDy2 Trial) Acute Stroke, Ischemic Stroke | PHASE2/PHASE3 | Recruiting | 2026-12-01 |
| NCT06875141 ↗ | DM199 for Pregnancy Complications Pre-Eclampsia | NA | Withdrawn | 2025-05-01 |
| NCT04123613 ↗ | Multiple Doses of DM199 in Patients With Chronic Kidney Disease (REDUX) Kidney Diseases | PHASE2 | Completed | 2022-03-16 |
| NCT03290560 ↗ | Evaluation to Assess Safety and Tolerability of DM199 in Subjects With Acute Ischemic Stroke Acute Ischemic Stroke | PHASE2 | Completed | 2020-01-23 |
| NCT03795389 ↗ | Study to Assess PK, Safety and Tolerability in Patients With DM and CKD Chronic Kidney Disease, Chronic Kidney Disease, Stage 3 (Moderate) | PHASE1 | Completed | 2019-07-21 |
| NCT02868996 ↗ | An Open Label, Phase 1b, Ascending Dose Study of DM199 Stroke | PHASE1 | Completed | 2017-03-01 |
| NCT01845064 ↗ | A Study to Evaluate the Safety and Effectiveness of DM199 in Healthy Subjects and Type 2 Diabetes Patients Diabetes Type 2 | PHASE1/PHASE2 | Completed | 2014-09-01 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-21 | 2026-05-20 | 0001437749-26-018106 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001437749-26-015218 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0001437749-26-015220 ↗ |
| 8-K | 2026-03-31 | 2026-03-30 | 0001437749-26-010409 ↗ |
| 10-K | 2026-03-30 | 2025-12-31 | 0001437749-26-010342 ↗ |
| 8-K | 2026-01-05 | 2026-01-05 | 0001437749-26-000175 ↗ |
| 8-K | 2025-12-18 | 2025-12-18 | 0001437749-25-038211 ↗ |
| 8-K | 2025-11-12 | 2025-11-12 | 0001437749-25-034467 ↗ |
| 10-Q | 2025-11-12 | 2025-09-30 | 0001437749-25-034469 ↗ |
| 8-K | 2025-08-12 | 2025-08-12 | 0001437749-25-026205 ↗ |
| 10-Q | 2025-08-12 | 2025-06-30 | 0001437749-25-026207 ↗ |
| 8-K | 2025-08-12 | 2025-08-12 | 0001437749-25-026286 ↗ |