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DelMar Pharmaceuticals ($DMPI) Intends To List On Senior Exchange – Raised $6.1 Million In Private Placement Of Preferred Shares

May 18, 2016 6:19 PM ETKTRA, CLDX, LADX, EXEL, PGNX
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Company: DelMar Pharmaceuticals

$Cashtag: $DMPI

With the $6.1 million capital raise, $DMPI has sufficient net equity to meet the listing requirements of a national exchange and intends to list their common shares as soon as practicable. Listing on a national exchange often unlocks value by providing greater access to capital, increased analyst coverage and more liquidity.

A few of $DMPI main competitors are Celldex ($CLDX), CytRx ($CYTR), Exelixis ($EXEL), and Progenics ($PGNX). They are companies focused on glioblastoma multiforme (GBM) or oncology products and act as a useful comparison as they are all listed on a national exchange (NASDAQ). Their average market cap is $522.76 million. See charts below.

DelMar Pharmaceuticals ($DMPI) is a biopharmaceutical company focused on the development and commercialization of new cancer therapies. Its lead product candidate, VAL-083 is currently undergoing clinical trials for the treatment of glioblastoma multiforme, the most common and deadly form of brain cancer. VAL-083 has orphan drug status in the USA and Europe for glioma, and $DMPI is planning to meet with the FDA in 1H 2016 to discuss phase III study design and initiation. More on Delmar here.

Analyst's Disclosure: I am/we are long DMPI.

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