Micro-cap vascular biotech DiaMedica Therapeutics prices IPO at $4 low end

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DiaMedica Therapeutics, a Phase 2 biotech targeting acute ischemic stroke and chronic kidney disease, raised $16.4 million by offering 4.1 million shares at $4, the low end of the range of $4 to $5. The company offered 100,000 more shares than expected. At the $4 offer price, DiaMedica Therapeutics commands a fully diluted IPO market cap of $48 million.

DiaMedica's IPO market cap fell below Renaissance Capital's $50 million market cap cutoff, and we are therefore not counting it in our 2018 IPO stats.

DiaMedica plans to list on the Nasdaq under the symbol DMAC. Craig-Hallum Capital Group acted as a lead manager on the deal.

The article Micro-cap vascular biotech DiaMedica Therapeutics prices IPO at $4 low end originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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