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DMAA

Drugs Made In America Acquisition Corp. Ordinary Shares

DMAA

Drugs Made In America Acquisition Corp. Ordinary Shares • NASDAQ
$10.33 ▲ 0.00% (+0.00)
Market Cap $346.23 M
52w High $10.35
52w Low $9.95
Dividend Yield 0%
P/E 0
Volume 670
Outstanding Shares 33.52M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $263.703K ▲ $2.185M ▼ 0% $0.07 ▲ $0 ▲
Q2-2025 $0 $131.919K ▼ $2.289M ▲ 0% $0.068 ▼ $-131.919K ▲
Q1-2025 $0 $330.925K ▲ $1.255M ▲ 0% $130.51 ▲ $-330.925K ▼
Q4-2024 $0 $279.875 ▼ $-279 ▲ 0% $-0.033 ▼ $0 ▲
Q3-2024 $0 $144.928K $-144.928K 0% $-0.005 $-144.928K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $717 ▼ $237.632M ▲ $7.357M ▲ $-7.328M ▼
Q2-2025 $822 ▼ $235.206M ▲ $7.201M ▼ $228.004M ▲
Q1-2025 $923 ▼ $232.806M ▲ $7.247M ▲ $225.559M ▲
Q4-2024 $1.351K ▼ $550.824 ▼ $795.669 ▼ $-244 ▲
Q3-2024 $2.095K $426.139K $590.998K $-164.859K

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $785.092K ▼ $137.908K ▲ $231.15M ▲ $-231.304M ▼ $-105 ▲ $137.904K ▲
Q2-2025 $3.688M ▲ $-300.671K ▼ $-231.15M $231.466M ▲ $-1.273K ▼ $-300.669K ▼
Q1-2025 $1.255M ▲ $-251.244K ▼ $-231.15M ▼ $231.401M ▲ $-428 ▲ $-251.244K ▼
Q4-2024 $-279 ▲ $-106 ▲ $0 $-638 ▼ $-744 ▲ $-123 ▲
Q3-2024 $-144.928K $-57.228K $0 $41.225K $-16.003K $-57.23K

Five-Year Company Overview

Income Statement

Income Statement DMAA is a blank-check company, so its income statement is essentially empty: no meaningful revenue and only modest costs related to being public and searching for a deal. The small loss per share is typical for a SPAC at this stage and reflects professional fees, listing costs, and ongoing administrative expenses rather than any underlying business performance. There is no operating business yet, so traditional profitability metrics do not really apply until after a merger is completed.

Balance Sheet

Balance Sheet The balance sheet is dominated by cash raised in the IPO and corresponding shareholder equity, with very limited operating assets or traditional debt. Most of the economic value sits in a trust account earmarked for a future acquisition and for potential redemptions by shareholders. This structure is standard for SPACs: financially simple, low leverage, but highly dependent on how much cash remains in the trust when a deal is finally executed.

Cash Flow

Cash Flow Cash flows are minimal and largely reflect small outflows for ongoing corporate and deal-search activities, funded by the capital already raised. There is no cash generated from operations because there is no operating business yet. The key cash flow event in the future will be the acquisition transaction itself, including any redemptions by shareholders and any additional capital raised to complete the merger.

Competitive Edge

Competitive Edge DMAA’s current “product” is its pool of capital and its management team’s ability to source an attractive pharmaceutical or drug manufacturing target, especially one focused on U.S.-based production. It competes with other SPACs, private equity funds, and strategic buyers chasing similar targets. Its main potential strengths are its clear thematic focus on onshoring drug production and the sector experience of its leadership, while key risks include intense competition for quality targets, limited time to complete a deal, and the possibility of shareholders redeeming a large portion of the trust.

Innovation and R&D

Innovation and R&D DMAA has no internal R&D, products, or technology of its own. Any innovation, intellectual property, or scientific pipeline will come entirely from the company it eventually acquires. The SPAC’s role is financial and strategic: to identify a target with strong pharmaceutical capabilities, regulatory know-how, and manufacturing or product advantages, particularly around domestic U.S. production. Until a target is announced, it is impossible to assess the future entity’s real innovation strength or technological moat.

Summary

DMAA is an early-stage SPAC with no operating business yet, so current financials offer little insight beyond showing a clean, cash-heavy structure and modest ongoing costs. The real story will begin when a merger target is announced. At that point, everything—revenue potential, profitability, balance sheet strength, innovation, and competitive edge—will be driven by the acquired company’s business. Today, the key variables are the management team’s deal-making skill, the quality and price of the eventual target, how much cash remains after redemptions, and overall conditions in the pharmaceutical and U.S. drug manufacturing markets. Until then, DMAA should be viewed as a cash shell with a specific strategic theme rather than as an operating company.