Highlights

  • Dimerix received A$14.1 million upfront under its fifth regional DMX-200 licence agreement, lifting cumulative upfront payments above A$80 million.
  • The company fully recruited ACTION3’s adult cohort, with 333 patients randomised and dosed, but reported no Phase 3 efficacy results.
  • Dimerix acquired DMX-652 for acute kidney injury and plans Phase 2 initiation, with dosing and an interim analysis in 2027.
  • Cash reached A$34.843 million after licensing receipts and borrowings, alongside a secured facility carrying 10% interest and January 2028 maturity.

A licence payment and new borrowings expanded Dimerix Limited’s (ASX:DXB) cash balance as it added a second kidney drug candidate. The September 2026 quarterly report records A$34.843 million in cash, up from A$16.154 million in June. Its lead ACTION3 trial is fully recruited in adults, while the newly acquired DMX-652 adds another planned clinical programme.

ACTION3 Continues After Adult Recruitment

DMX-200 is being studied in focal segmental glomerulosclerosis, a kidney disease. The adult ACTION3 Phase 3 cohort comprises 333 patients randomised and dosed across 219 sites in 21 countries.

The first 100 patients have completed two years of treatment and entered follow-up. The first participant has also completed the open-label extension after approximately four years in the wider programme.

Dimerix says more than 90% of eligible completers chose to continue. That participation measure does not establish efficacy, and the quarterly update reports no Phase 3 treatment results.

The company expects the final proteinuria endpoint and readout in the first half of 2028, with a possible new drug application that year. DMX-200 combines a CCR2 antagonist with a standard AT1R blocker and holds orphan designations in the US, Europe, UK and Japan.

Licence Payment Supports a Broader Pipeline

Everest Medicines paid A$14.1 million, or US$10 million, under the fifth regional DMX-200 licence. Upfront payments across the five agreements now exceed A$80 million.

Potential milestones total approximately A$1.9 billion plus royalties. They depend on future development and sales events and are not assured income. Dimerix retains rights in unlicensed territories and continues partnering discussions.

In July, the company acquired DMX-652, an oral USP30 inhibitor intended for acute kidney injury associated mainly with cardiac surgery and sepsis. It assumed sponsorship of the US investigational new drug application in August.

The company reports an FDA-approved Phase 2 protocol and sufficient manufactured drug for that study. Phase 2 initiation is listed for 2026, followed by first-patient dosing and an interim analysis in 2027.

Cash Increase Includes Debt Funding

Customer receipts were A$14.146 million, while research and development payments totalled A$5.172 million. The Appendix 4C records a net operating cash inflow of A$9.048 million, reflecting the licence payment.

DMX-652 acquisition payments contributed A$7.138 million of investing outflow. Dimerix also drew A$16.685 million from a A$34 million funding facility.

The facility is secured over company assets and carries annual interest of 10%. Principal and interest fall due by 17 January 2028. Some lenders are associated with a substantial shareholder who is a related party.

Dimerix puts cash plus undrawn funding at A$52.2 million and says this can complete ACTION3 while supporting DMX-652 Phase 2 work. The cash balance, available credit and conditional milestone opportunity remain separate funding measures.