Scut­tled by a bad IV bag? A small biotech is slapped with a hold fol­low­ing three SAEs

Shares of Di­aMed­ica $DMAC are be­ing sav­aged Thurs­day morn­ing af­ter the biotech put out word that the FDA has slapped a clin­i­cal hold on its sole clin­i­cal as­set fol­low­ing a se­ries of ad­verse events among pa­tients en­rolled in their Phase II/III study.

The Min­neapo­lis-based biotech float­ed an IPO on Nas­daq in 2018 on its hopes for DM199, which they be­lieved would help blood flow in pa­tients suf­fer­ing from acute is­chemic stroke and chron­ic kid­ney dis­ease by tar­get­ing low lev­els of KLK1.

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