Oppenheimer upgrades DiaMedica to Outperform following clinical hold lift

As previously reported, Oppenheimer upgraded DiaMedica Therapeutics to Outperform from Perform with a $7 price target after the company announced that the clinical hold on its ReMEDy2 Phase 2/3 trial has been removed. The firm is “encouraged” by this key development as it validates the in-use studies and is supportive of P1C SAD. This may confirm that the SAEs resulted from greater drug exposure from switching to a different type of IV bag. In addition, trial amendments for the Phase 2/3 ReMEDy2 include a single primary endpoint, Oppenheimer says. The firm sees the clinical hold lift as a significant milestone.