--- title: "DiaMedica Therapeutics sets up $100.0 million at-the-market share program" url: "https://aibio.space/news/diamedica-therapeutics-sets-up-100-0-million-market-share-program-td/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-08-12" section: "Financings" tickers: "NASDAQ:DMAC" source: "https://www.sec.gov/Archives/edgar/data/1401040/000143774925026273/dmtp20250811_s3.htm" summary: "DiaMedica agreed to sell up to $100.0 million of common shares through TD Securities (USA) LLC, which can earn up to 3.0% of gross proceeds. No sale can be" --- By the aibio.space news desk. Sources - [DiaMedica Therapeutics Inc. S-3 (2025-08-12)](https://www.sec.gov/Archives/edgar/data/1401040/000143774925026273/dmtp20250811_s3.htm) - [dmtp20250812_8k.htm](https://www.sec.gov/Archives/edgar/data/1401040/000143774925026286/dmtp20250812_8k.htm) - [DiaMedica Therapeutics Inc. 10-K (2025-03-17): business](https://www.sec.gov/Archives/edgar/data/1401040/000143774925008018/dmtp20241231_10k.htm) [DMAC](https://aibio.space/companies/diamedica-therapeutics/) 2025-08-12 # DiaMedica Therapeutics sets up $100.0 million at-the-market share program with TD Cowen Tickers [DMAC](https://aibio.space/companies/diamedica-therapeutics/) DiaMedica agreed to sell up to $100.0 million of common shares through TD Securities (USA) LLC, which can earn up to 3.0% of gross proceeds. No sale can be made until the Form S-3 is declared effective, and the filings give no cash balance. ## Key facts - **Company**: DiaMedica Therapeutics Inc. (NASDAQ: DMAC) - **News type**: Financings - **Primary source**: [DiaMedica Therapeutics Inc. S-3 (2025-08-12)](https://www.sec.gov/Archives/edgar/data/1401040/000143774925026273/dmtp20250811_s3.htm) *Traders on the NYSE floor, 1963. Photo: Thomas J. O'Halloran, public domain, via Wikimedia Commons. The picture shows the field, not the companies named.* DiaMedica Therapeutics Inc. (Nasdaq: [DMAC](https://aibio.space/companies/diamedica-therapeutics/)) said in a Form 8-K dated August 12, 2025 that it had signed a Sales Agreement that day with TD Securities (USA) LLC, which the filing calls TD Cowen, as sales agent. The company may sell common shares for an aggregate offering amount of up to $100.0 million. The sales would be an at-the-market offering, with shares sold into the market over time at prevailing prices. TD Cowen is not required to sell any specific number or dollar amount of shares, and it will act using commercially reasonable efforts. The company pays it compensation of up to 3.0% of the gross proceeds of shares sold. The proceeds, if any, will depend on how many shares are sold and at what price. The last reported sale price of DiaMedica's shares on August 11, 2025 was $4.58. ## The shelf and the conditions for sales The shares are to be sold under a Form S-3 shelf registration statement filed August 12, 2025. The statement contains a base prospectus covering up to $100,000,000 of common shares, warrants and units, and a sales agreement prospectus supplement covering up to $100,000,000 of common shares under this agreement. The shares under the agreement count against that base amount, and any unsold portion can go to other offerings if the agreement ends. The registration statement, and the 8-K that describes it, both say the company may not sell these securities until the registration statement is effective. The 8-K says that had not happened when it was filed, and it leaves the file number blank. Alston & Bird LLP and Pushor Mitchell LLP, both counsel to the company, issued legal opinions on the shares as Exhibits 5.2 and 5.1. The registration statement lists Matthew W. Mamak of Alston & Bird and Keith Inman of Pushor Mitchell as copies-to contacts. The 8-K does not name any counsel for TD Cowen. ## The company and its lead drug DiaMedica describes itself as a clinical-stage biopharmaceutical company focused on severe ischemic disease. Its two main programs are acute ischemic stroke and preeclampsia. Its lead candidate, DM199, is a recombinant form of human tissue kallikrein-1 that has Fast Track designation from the FDA for acute ischemic stroke. It lists DM300, a recombinant human ulinastatin, as a longer-term candidate for severe acute pancreatitis. The stroke program centers on the ReMEDy2 trial, a Phase 2/3 adaptive, randomized, double-blind, placebo-controlled study intended to enroll approximately 300 participants at up to 100 sites. An interim analysis by the independent data safety monitoring board after the first 200 participants could stop the study for futility; otherwise the final sample size will be between 300 and 728 patients. A recent protocol amendment makes patients treated with tissue plasminogen activator or tenecteplase eligible if they still have a persistent neurological deficit. The amendment widens who can enter the trial. The registration statement adds that site activations and enrollment have been slower than expected. The company attributes this in part to hospital staffing shortages, the protocol's inclusion and exclusion criteria, and concerns about prior clinically significant hypotension events and the clinical hold that was lifted in June 2023. It says it has expanded its internal clinical team and warns that failing to resolve the problems may delay the trial. In preeclampsia, DM199 is in an investigator-sponsored Phase 2 study. Interim results from Part 1a, released in July 2025 for 28 subjects, showed what the company calls a safe and well-tolerated profile with statistically significant blood pressure reductions. That is a small, early dataset, and the company says it plans to submit a U.S. IND application in the second half of 2025. ## What the filings leave out The registration statement gives 43,072,488 common shares outstanding as of June 30, 2025. It says net proceeds would go to clinical and product development and to working capital and general corporate purposes, with broad discretion over their use. Neither the registration statement nor the 8-K gives a cash balance, a net loss or a cash runway, so the $100.0 million program cannot be set against the company's cash needs. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story DMAC DiaMedica Therapeutics Inc. 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Cite as: aibio.space, "DiaMedica Therapeutics sets up $100.0 million at-the-market share program", 2025-08-12, https://aibio.space/news/diamedica-therapeutics-sets-up-100-0-million-market-share-program-td/