DiaMedica struggles with trial resultsDiaMedica Therapeutics slips 34% in Tuesday trading despite encouraging results out of its latest chronic kidney disease trial.
DiaMedica Therapeutics, a clinical-stage biopharmaceutical company dedicated to improving the lives of people affected by kidney diseases, is getting the week off to a rough start. The biotech firm released interim results from its mid-stage Redux trial, which showed that its drug DM199 improved kidney function. DM199 is its lead and only candidate, and focuses on populations with unmet medical needs.
This data provides further clinical validation of the meaningful biologic activity of the recombinant KLK1 (DM199) and supports the potential of achieving clinical benefit equal to or better than the exogenous KLK1 product available in Asia. We are optimistic as we continue the trial of DM199 in IgAN and hypertensive African Americans with CKD and begin the pivotal Phase 2/3 study in acute ischemic stroke later this summer,
said Rick Pauls, President and Chief Executive Officer of DiaMedica.
Encouraging though they were, the results weren’t enough to please investors. One cohort of the trial in particular showed less meaningful improvement, and prices fell as a result.