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Fly News Breaks for June 20, 2019
DMAC, RETA
Jun 20, 2019 | 13:12 EDT
Craig-Hallum analyst Alexander Nowak said the phase 1b data reported yesterday by DiaMedica Therapeutics (DMAC) beat his expectations and provide "clear evidence" that DM199 is causing activity leading to better kidney function. Similar comparable companies, such as Reata Pharmaceuticals (RETA), saw "large market value increases" shortly after proving efficacy in a phase 2 trial, noted Nowak, who keeps a Buy rating on DiaMedica shares and raised his price target on the stock to $11 from $9.
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