NEW YORK, NY / ACCESSWIRE / June 25, 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 an 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 June 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's lead compound, VAL-083, is a potential new treatment for refractory and front-line glioblastoma multiforme, the most common and aggressive form of brain cancer. VAL-083 is a first-in-class small molecule with a novel alkylating agent that has been assessed in over 40 National Cancer Institute-sponsored clinical and pre-clinical trials showing the compound has potential for multiple cancers including brain, lungs, blood, and cervical. VAL-083 has also been approved in China for the treatment of lung cancer and chronic myeloid leukemia, a cancer of white blood cells. DMPI recently presented promising data from its ongoing Phase I/II trial for VAL-083 in patients with refractory GBM at the 2015 American Society of Clinical Oncology Annual Meeting in Chicago, IL. We were encouraged by the efficacy data and continue see DMPI as one of the most overlooked stories in our biotechnology universe. We are maintaining 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:
Encouraging efficacy data presented at ASCO
On June 1, 2015, DMPI presented updated data from its Phase I/II clinical study of VAL-083 in patients with refractory GBM. The results of the clinical study titled, "Phase I/II study of dianhydrogalactitol in patients with recurrent malignant glioma," were presented during the Central Nervous System Tumor session, and demonstrated encouraging efficacy results, including:
- Improved overall survival (OS) rates 59% of patients treated with VAL-083 surviving longer than predicted following initiation of bevacizumab therapy.
- The median OS receiving VAL-083 at doses >30mg/m2 was about 9.0 months, offering the potential for a significant survival benefit for refractory GMB patients.
- DMPI also confirmed that it would pursue an expansion cohort of up to 14 patients at the well-tolerated dose of 40 mg/m2/day x 3 in a 21 day cycle, as well as a smaller expansion cohort at 45 mg/m2/day x 3 in a 21 day cycle to gain additional safety and efficacy information of VAL-083 at the dosing regimen being considered for advancement into later-stage clinical trials.
Large market potential for GBM
We note that GBM is the most common and deadly form of brain cancer and represents a significant unmet need. The condition affects approximately 15,000 adults each year and has a survival rate of 4.5 months without treatment and approximately half of patients' tumors fail all other treatments - which currently include surgical debulking, Temodar(R) + radiation, and Avastin(R). Indeed, the 5-year overall survival rate is less than 3%. DMPI estimates the current annual market opportunity for VAL-083 for refractory and front-line GBM is in excess of $1Bn per year.
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 is unbiased. The company does not conduct any investment banking or commission based business. SeeThruEquity is approved to contribute its research to Thomson Reuters One (First Call), CapitalIQ, FactSet, Zacks and distributes its research to its database of opt-in investors. The company also contributes its estimates to Thomson Estimates, the leading estimates platform on Wall Street.
For more information visit www.seethruequity.com.
Contact:
Ajay Tandon
SeeThruEquity
info@seethruequity.com
SOURCE: SeeThruEquity
