NEW YORK, NY / ACCESSWIRE / March 9, 2015 / 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 a 2Q15 update note on DelMar Pharmaceuticals, Inc. (OTCQX: DMPI), a biotechnology company focused on proven cancer therapies in new orphan drug indications where patients are failing modern targeted or biologic treatments.
The note is available here: DMPI Q2 2015 Update. SeeThruEquity is an approved equity research contributor on Thomson First Call, CapitalIQ, FactSet, and Zack's. The report will also be available on these platforms. We also contribute our estimates to Thomson Estimates, the leading estimates platform on Wall Street.
"DMPI IS making progress both on a clinical development front and operationally, as it readies itself for an uplisting to a major exchange. We feel that DMPI remains an overlooked story. With a market cap of less than $30mn, in our note we have highlighted some comps which the company provided during its recent investor call with the basic idea being that the GBM opportunity can create significant upside for DMPI. We are reaffirming our 12 month price target of $4.53 per share," commented Ajay Tandon, CEO of SeeThruEquity.
Additional highlights from the update note are as follows:
GBM Opportunity Expected to Create Significant Upside
DMPI making progress both on a clinical development front and operationally, as it readies itself for an uplisting to a major exchange. We feel that DMPI remains an overlooked story. With a market cap of less than $30mn, we would like to highlight the following comp table which the company provided during its recent investor call.
VAL-083 update (dose escalation study)
DMPI has reported the first observation of a DLT in cohort 8 (50mg/m2). The company plans to enroll an additional three patients at this 50mg/m2 dose. If any of these patients experience DLT, DMPI plans to go with a 40mg/m2 dosing regimen. If none of the patients experience DLT, DMPI is prepared to enroll cohort 9 (60mg/m2). If the company observes what it characterizes as continued strong trends towards DLT, then it will use 50mg/m2 as the MTD.
VAL-083 target timelines
DMPI outlined its planned development timeline for VAL-083 on its February 17th investor call. The company hopes to arrive at the MTD by the end of calendar 1H15, and then simultaneously conduct a MTD expansion cohort and request an FDA advisory meeting during the 2/3Q15 timeframe. Registration directed activities would commence in 2H15, with enrolment 12 months from initiation of the Phase II/III registration trial. This could have DMPI prepared for an NDA filing in late 2016/early 2017, and a commercial launch in 2017.
Warrant exchange builds shareholder equity
On February 10, 2015, DMPI announced the completion of a tender offer to exchange 530,625 new shares of common stock for 1,591,875 warrants. The primary purpose of the exchange was to reduce DMPI's "derivative warrant liability" as part of the company's strategy to build sufficient stockholders equity in partial fulfillment of the requirements to up-list its common stock to a national securities exchange – such as NASDAQ or NYSE. As of December 31, 2014, DMPI reported $3.9mn in cash on its balance sheet.
Please review important disclosures on our website at www.seethruequity.com.
About DelMar Pharmaceuticals, Inc.
DelMar Pharmaceuticals was founded in 2010 to develop and commercialize proven cancer therapies in new orphan drug indications where patients are failing modern targeted or biologic treatments. The Company's lead asset, VAL-083, is currently undergoing clinical trials in the United States as a potential treatment for refractory glioblastoma multiforme (GBM), the most common and aggressive form of brain cancer. VAL-083 benefits from extensive clinical research sponsored by the U.S. National Cancer Institute (NCI), and is currently approved for the treatment of chronic myelogenous leukemia (CML) and lung cancer in China. Published pre-clinical and clinical data suggest that VAL-083 may be active against a range of tumor types via a novel mechanism of action. For more information, please visit http://www.delmarpharma.com.
About SeeThruEquity
SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and unbiased. We do not conduct any investment banking or commission based business. We are approved to contribute our research to Thomson Reuters One (First Call), CapitalIQ, FactSet, Zacks and distribute our research to our database of opt-in investors. We also contribute our estimates to Thomson Estimates, the leading estimates platform on Wall Street.
For more information visit www.seethruequity.com.
Contact:
Ajay Tandon
SeeThruEquity
(646) 495-0939
SOURCE: SeeThruEquity
