DiaMedica Raises $37.5M Via Equity Offering, Aiding Development Activities For DM199 - DiaMedica Therapeu
DiaMedica Therapeutics Inc., also known as DMAC, has made a deal with trusted investors. These investors have committed to giving DMAC a maximum amount of $37.5 million in earnings through a private placement.
This business will release 11.01 million ordinary stocks for a buying cost of $3.40 per stock.
The worth of something is the same as the mean closing cost for each split share of the business on the five exchange days that finished on June 20, 2023.
DiaMedica's executives have sanctioned a more elevated cost of acquisition amounting to $3.91 per share.
It is estimated that the private offering will be completed by approximately June 23, 2023, provided that all standard closing requirements are met.
The business plans on utilizing the money gathered from the private sale to keep making advancements in their clinical and product development endeavors for DM199. This includes continuing work on their vital ReMEDy2 clinical trial for the Phase 2/3 stage, along with other needs for their usual business operations and funding.
The money obtained from the sales will also be used to finance the ReMEDy2 trial until the interim analysis is concluded.
DiaMedica made an announcement today stating that the FDA had lifted the clinical hold on the ReMEDy2 clinical trial's Phase 2/3. This trial aims to investigate the effectiveness of DM199 product candidate in curing patients suffering from acute ischemic stroke.
The value of DMAC stocks has dropped by 5.63% to $3.69 as of Wednesday's latest review.
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