Dazzling Stock: DelMar Pharmaceuticals, Inc. (NASDAQ:DMPI)

On Monday, DelMar Pharmaceuticals, Inc. (NASDAQ:DMPI) has shown upward/downward moved of -8.30% and ended the last trade at $0.6598. The trading volume was recorded to 374,919 shares as compared to average traded volume of 803,921 shares.

DelMar Pharmaceuticals, Inc. (DMPI) reported its financial results for the year ended June 30, 2019.

RECENT CORPORATE UPDATES

  • September 2019- Moved corporate headquarters to San Diego, California
  • August 2019– Closed an underwritten public offering with net proceeds of about $6.7M
  • August 2019– Provided update on Phase 2 clinical study on first line therapy in newly diagnosed MGMT-unmethylated GBM patients being conducted at Sun Yat-sen University Cancer Center.  At the time of the update, nine patients were assessed as having achieved complete response, seven were assessed with stable disease, and one was assessed with disease progression
  • July 2019– Enrolled first patient in adjuvant (pre-temozolomide maintenance) arm of Phase 2 open label study of VAL-083 being conducted at MD Anderson Cancer Center (MDACC)
  • July 2019– Provided enrollment update of Phase 2 open label study of VAL-083 in recurrent GBM patients with MGMT-unmethylated status.  As of this announcement, 56 of the planned 83 patients had been enrolled in the study being conducted at MDACC
  • June 2019– Closed on registered direct financing with net proceeds of about $3.2M
  • May 2019– Expanded Scientific Advisory Board to include leading neuro-oncologists, Dr. David Reardon from Dana-Farber Cancer Center, Dr. Timothy Cloughsey from David Geffen School of Medicine, and Dr. Nicholas Butowski from UCSF and the Brain Tumor Center
  • April 2019– Reported formation of Scientific Advisory Board, which includes current members of the Company’s board of directors, Dr. Napoleone Ferrara and Dr. John de Groot from the MD Anderson Cancer Center

SUMMARY OF FINANCIAL RESULTS FOR FISCAL YEAR ENDED JUNE 30, 2019

At June 30, 2019, the Company had cash and cash equivalents on hand of about $3.7M.  In August 2019, the Company completed an underwritten public offering for net proceeds of about $6.7M. The proceeds from the August 2019 financing combined with cash and cash equivalents on hand at June 30, 2019 are predictable to be sufficient to fund the Company’s planned operations into the fourth quarter of calendar year 2020.

For the year ended June 30, 2019, the Company stated a net loss of about $8.0M, or $3.16 per share, contrast to a net loss of about $11.1M, or $5.42 per share, for the year ended June 30, 2018.

The volatility in the previous week has experienced by 10.07% and observed of 11.65% in the previous month.5.80% ownership is held by institutional investors while insiders hold ownership of 0.20%.

 

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