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.