DiaMedica Therapeutics (DMAC) said Tuesday it dosed the first two patients in a Phase 2 clinical trial evaluating its experimental drug DM199 for fetal growth restriction.

The study intends to evaluate three different dose levels of the treatment in a group of up to 30 participants, the company said.

The therapy is designed to improve blood flow through the maternal uterine artery to the placenta without entering the circulation of the fetus, DiaMedica said.

Shares of the company were up 3.2% in Tuesday premarket activity.