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DelMar Pharmaceuticals boosted on positive clinical trials update for VAL-083

Shares in DelMar Pharmaceuticals Inc surged over 10% Tuesday on NASDAQ

cancer cells
Pictured are cancer cells

Shares in DelMar Pharmaceuticals Inc (NASDAQ:DMPI) surged over 10% Tuesday as it gave positive updates on clinical trials of its lead-product cancer treatment VAL-083.

The updates were given as poster presentations at the American Association for Cancer Research (AACR) annual meeting.

In a Phase 2 trial, 22 of 48 patients have now been enrolled as at the end of March this year. Seven of the 22 enrolled patients (32%) have exhibited stable disease as best response.

Meanwhile, in a Phase 1-2 clinical trial of VAL-083 in combination with radiotherapy in patients with newly diagnosed MGMT-unmethylated GBM (glioblastoma), dose-confirmation studying 20 and 30 mg/m2/day cycles has been completed with four patients enrolled.

No dose-limiting toxicities have been reported following treatment with multiple cycles of VAL-083 and the next patient enrolled in the trial will receive the study target dose of 40 mg/m2/day VAL-083 combined with radiation.

"We are pleased with the continued progress of our ongoing clinical trials with VAL-083 as a potential treatment for MGMT-unmethylated GBM," said Saiid Zarrabian, the interim president and chief executive.

"These trials are important elements of our clinical development strategy to advance VAL-083 as a potential treatment for GBM patients who have little or no viable alternatives."

Shares on Nasdaq gained 10.38% to US$1.17 on Tuesday afternoon.

Quick facts: Kintara Therapeutics

Price: 1.71 USD

Market: NASDAQ
Market Cap: $52.37 m

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