DiaMedica Therapeutics (DMAC) Q3 2026 earnings summary

Executive summary

• DM199 programs advanced across FGR, PE and AIS; the first two FGR cohorts completed enrollment, and ReMEDy2 reached 200 participants.

• Cash, cash equivalents and marketable securities totaled $34.9M at September 30, 2026; management projected runway into Q4 2027, while substantial doubt about going concern remained unalleviated.

Financial highlights

• Q3 net loss was $11.3M versus $8.6M; 9M net loss was $31.5M versus $24.0M.

• Q3 R&D expense was $9.2M versus $6.4M; 9M R&D was $25.4M versus $17.9M, reflecting clinical expansion, trial start-up, testing, manufacturing development and share-based compensation.

• Q3 G&A was $2.4M versus $2.6M; 9M G&A was $7.2M versus $7.3M.

• Q3 operating loss was $11.6M versus $9.0M; 9M operating loss was $32.6M versus $25.2M. Q3 loss per share was $0.21 versus $0.17; 9M was $0.58 versus $0.53.

• 9M operating cash use was $26.0M versus $21.3M.

Outlook and guidance

• Current cash, cash equivalents and short-term investments were expected to fund planned studies and operations into Q4 2027.

• R&D expenses and negative operating cash flow are expected to increase moderately as ReMEDy2 enrollment continues and the PE Phase 2 trial starts; G&A is expected to remain steady.

• ReMEDy2 interim analysis is expected in Q1 2027, after the 200th participant completes 90-day follow-up; final enrollment may range from 300 to 728 participants.

• Preliminary results from the first two FGR cohorts were scheduled for a November 24 KOL event; the rat study report was expected in November 2026 for FDA review.