SeeThruEquity Issues Update on DelMar Pharmaceuticals

NEW YORK, NY / ACCESSWIRE / September 14, 2016 / SeeThruEquity, a leading New York City based independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced that it has issued an update note on DelMar Pharmaceuticals (NASDAQ:DMPI), a company focused on developing and commercializing proven cancer therapies in new orphan drug indications.

Highlights from the update note are as follows:

DelMar hosts upbeat investor update

DMPI hosted an investor update on September 7, 2016 which recapped the impressive progress made by the company and outlined encouraging goals for the future as it transitions to a late clinical stage company. DMPI has made significant progress over the last year on both the corporate and clinical fronts. In the last several months DMPI completed an uplisting to the Nasdaq Capital Markets and closed a $7.2mn preferred stock private placement. In combination with prospective financing from in-the-money warrants, management believes should be able to fund the company through 2017.

DelMar continues to advance its clinical program

DMPI continues to make advancements on the clinical front as well.The company is making plans to initiate a Phase 3 clinical trial for VAL-083 for Refractory GBM, and is initiating two new two Phase 2 trials for GBM in earlier stage patients, which will be in collaboration with MD Anderson in the United States and Guanxi Wuzhou Pharma in China. DMPI also announced a new partnership with Accurexa, Inc., to deliver VAL-083 in combination with temozolomide and/or BCNU in Accurexa’s ACX-31, a proprietary implantable polymer wafer delivery system, for the treatment of brain cancer. Delmar and Accurexa are hopeful that the combination of VAL-083 and./or temozolomide and BCNU within ACX-31 may provide treatment advantages while limiting systemic toxicity. Delmar has also been working to show the potential therapeutic application of VAL-083 in many cancers beyond GBM, such as non-small-cell lung cancer and ovarian cancer, among others, which, if successful, would dramatically expand the market opportunity for the company.

Maintaining price target of $19.20

We recently updated our price target for DMPI $19.20 following the company’s reverse split and uplisting to the Nasdaq CM. We are maintaining the price target at this time. In our view it is clear that DMPI is making significant progress advancing its clinical pipeline, with a Phase 3 trial of VAL-083 for Refractory GBM in planning and growing data showing that VAL-083 may have the potential to address a number of therapeutic indications. If achieved, the price target represents potential upside of 175.6% from the recent price of $7.04 on September 12, 2016.

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