DiaMedica Therapeutics (DMAC) Plans to Raise $18 Million in December 6th IPO

DiaMedica Therapeutics (DMAC) is planning to raise $18 million in an initial public offering (IPO) on Thursday, December 6th, IPO Scoop reports. The company plans to issue 4,000,000 shares at a price of $4.00-$5.00 per share.

DiaMedica Therapeutics has a market cap of $53.3 million.

Craig-Hallum Capital Group acted as the underwriter for the IPO.

DiaMedica Therapeutics provided the following description of their company for its IPO: “(Note: Not an IPO: “Although this is our initial public offering of our common shares in the United States, our common shares trade in Canada on the TSX Venture Exchange under the symbol “DMA” and over-the-counter in the United States on the OTCQB marketplace under the symbol “DMCAD.” The last reported sale price of our common shares at the close of business on November 27, 2018 on the TSX Venture Exchange was CAD $5.60 per share (US $4.21) and over-the-counter in the United States as quoted by the OTCQB marketplace was $4.22 per share.”) We are a clinical stage biopharmaceutical company primarily focused on the development of novel recombinant (synthetic) proteins. Our goal is to use our patented and licensed technologies to establish our company as a leader in the development and commercialization of novel recombinant proteins to treat neurological and kidney diseases. Our primary focus is on acute ischemic stroke (“AIS”) and chronic kidney disease (“CKD”). We plan to advance our lead drug candidate, DM199, through clinical trials, as appropriate, to create shareholder value by establishing its clinical and commercial potential as a therapy for AIS and CKD.   “.

DiaMedica Therapeutics was founded in 2000 and has 11 employees. The company is located at 2 Carlson Parkway, Suite 260 Minneapolis, MN 55447, US and can be reached via phone at (763) 496-5454 or on the web at http://www.diamedica.com.

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