New York, NY / ACCESSWIRE / September 4, 2014 / 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 Q4 and FY2013 update note on DelMar Pharmaceuticals, Inc. (DMPI), a biotechnology company focused on proven cancer therapies in new orphan drug indications where patients are failing modern targeted or biologic treatments.

"DMPI is on track to deliver higher doses of VAL-083 than have been used in prior clinical studies. In prior National Cancer Institute sponsored studies, a cumulative VAL-083 dose of 125mg/m2 delivered in a 33 day cycle in combination with radiation was demonstrated to be superior to radiation alone. In a comparative 33-day cycle, cohort 8 of DMPI’s dosing regimen will deliver a total of 300mg/m2, more than double the amount of the NCI study, taking advantage of higher drug concentration and exposure to the tumor," commented Ajay Tandon, CEO of SeeThruEquity

Highlights for the quarter are as follows:

- VAL-083 update. DMPI reported that one of three GBM patients in both cohort 7 (40mg/m2) and cohort 6 (30mg/m2) exhibited stable disease after one or two cycles of treatment with VAL-083. No drug-related serious adverse events had been detected with VAL-083, and maximum tolerated dose ("MTD") had not been reached at doses up to 40mg/m2. Enrollment and evaluation of cohort 8 (50mg/m2) has been opened at three clinical trial sites in the US. DMPI has filed a protocol amendment with the FDA to allow dosing beyond 50mg/m2. DMPI plans to present detailed results at scientific meetings during 2H14 and remains on track to advance clinical trials with VAL-083 as a potential treatment for GBM patients who have failed therapy with both Temodar(R) and Avastin(R). The final dose for advancement into registration-directed clinical trials will be based on the safety and tolerability of VAL-083 in refractory GBM patients.

- Warrant tender offer, fiscal year change are steps to uplisting. On June 9, 2014, DMPI announced that it had completed closing of a lead order and filed a tender offer for its outstanding investor warrants. On August 19, 2014, DMPI announced that it had received gross proceeds of $2.9mn in non-dilutive capital from these activities and has sufficient funding through December 2015E. On July 24, 2014, DMPI announced a change of the company's fiscal year from December 31 to June 30. This announcement, along with the substantially reduced the derivative liability associated with the exercised warrants, are important steps in the company’s plan to list its shares on a senior stock exchange in the US.

- Second U.S. Patent Announced. On September 3, DMPI announced that the United States Patent and Trademark Office issued a notice of allowance for patent application number 13/933,751, covering improved methods for synthesizing VAL-083, DelMar's lead drug candidate, which is currently in a Phase I/II clinical trial in the United States for the treatment of refractory glioblastoma multiforme (GBM). This patent is entitled "Method of Synthesis of Substituted Hexitols Such as Dianydrogalactitol," and provides a patent term that lasts until 2030. This allowance represents the second U.S. patent and we believe that this key patent will provide another important anchor for DelMar's intellectual property portfolio.

- Maintain price target of $4.53. We maintain our price target of $4.53 for DMPI. This represents 520% upside potential from the recent market price of $0.73.

The note is available here: DMPI 4Q and FY2014 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.

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.

This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "will likely", "should", "could", "would", "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, and domestic or global economic conditions - activities of competitors and the presence of new or additional competition and conditions of equity markets.

Contact:

Ajay Tandon
SeeThruEquity
(646) 495-0939

SOURCE: SeeThruEquity