In a report released today, Matthew Caufield from H.C. Wainwright reiterated a Buy rating on Diamedica Therapeutics (DMAC – Research Report), with a price target of $10.00.
Matthew Caufield has given his Buy rating due to a combination of factors related to Diamedica Therapeutics’ promising developments in their vascular disease pipeline, particularly with their lead candidate, DM199. The anticipated preliminary topline results from the Phase 2 trial for preeclampsia, expected in the second quarter of 2025, are seen as a significant near-term catalyst. The trial aims to demonstrate the safety and efficacy of DM199, with a focus on its impact on maternal systolic blood pressure and uterine artery blood flow, without crossing the placental barrier.
Furthermore, the mechanism of DM199, which acts as a serine protease enzyme to enhance blood perfusion, is considered potentially beneficial for acute ischemic stroke patients. The ongoing Phase 2/3 ReMEDy2 trial has expanded its protocol to include thrombolytic non-responders, thus broadening the patient pool. The trial’s progress, including the finalized statistical analysis plan with the FDA and positive safety reviews, supports the potential of DM199 to offer novel benefits where traditional therapies may not be suitable. These factors contribute to the raised price target of $10 and the reiterated Buy rating.