DelMar Pharmaceuticals, Inc. (NASDAQ: DMPI) is focused within the research, development, and commercialization of cancer therapies for patients that have limited treatment options. The company focuses on identifying biomarkers to help personalize therapies for patients that are unable to utilize standard treatments. Shares of the cancer therapeutics developer are skyrocketing 99.34%, through early trading on Wednesday, July 24, 2019. Over the past three months, DelMar Pharmaceuticals has seen average daily volume of 281,370 shares. However, volume of 6.97 million shares or dollar volume of $17.36 million, has already exchanged hands during early trading on Wednesday.
Shares of DelMar Pharmaceuticals are surging on Wednesday, after the company announced that it has enrolled and treated its first patient in the adjuvant trial arm of the Phase 2 clinical trials of VAL-083 for the treatment of MGMT-unmethylated glioblastoma multiforme. The clinical study is begin conducted at the University of Texas MD Anderson Cancer Center. The trials will enroll up to 24 patients for the study.
DelMar Pharmaceuticals, Inc. Press Release:
VANCOUVER, British Columbia and MENLO PARK, Calif., July 24, 2019 /PRNewswire/ — DelMar Pharmaceuticals, Inc. (DMPI) (“DelMar” or the “Company”), a biopharmaceutical company focused on the development of novel cancer therapies, today announces that the first patient has been treated in the adjuvant (pre-temozolomide maintenance) trial arm of VAL-083’s Phase 2 study in MGMT-unmethylated glioblastoma multiforme (GBM) being conducted at the University of Texas MD Anderson Cancer Center (MDACC). This recently-approved arm of the study will enroll up to 24 newly-diagnosed patients who have undergone surgery and chemoradiation with temozolomide (TMZ) but will now receive VAL-083 in place of standard of care TMZ for adjuvant therapy.
“Treating patients with MGMT promoter unmethylated glioblastoma is particularly challenging,” commented principal investigator Dr. Barbara O’Brien, assistant professor of Neuro-Oncology at the MD Anderson Cancer Center. “These tumors are inherently resistant to temozolomide, leaving physicians and patients without viable alternative treatments, so I’m particularly pleased that we have added this additional trial arm to our ongoing study. Better therapies are greatly needed for both newly-diagnosed and recurrent glioblastoma, and VAL-083 has so far shown a favorable safety profile and provided early, but encouraging, results from the trial that is currently underway.”
This adjuvant arm, which was recently approved by the MDACC Institutional Review Board, will provide early disease data on VAL-083, in contrast to those patients enrolling in the Company’s original recurrent trial arm of the MDACC clinical study who have typically been heavily pre-treated with TMZ prior to disease recurrence. In the recurrent setting, the Company previously announced that MDACC had approved up to 35 additional patients to this recurrent GBM study at a dose of 30 mg/m2, allowing for a total of up to 83 patients to be enrolled. To date, 56 recurrent patients have been enrolled. DelMar is actively enrolling patients for both trial arms of the clinical study at MDACC.
Concurrently, the Company is conducting a Phase 2 clinical study of VAL-083 as first line treatment for GBM in combination with radiotherapy in China at the renowned Sun Yat-sen University Cancer Center for which it provided an update on June 3, 2019. This update can be accessed via the company’s website at https://www.delmarpharma.com/news-media/press-releases/detail/900/delmar-provides-clinical-update-on-val-083-from-ongoing. VAL-083 has been granted orphan drug designations by the U.S. FDA Office of Orphan Products for the treatment of glioma, medulloblastoma and ovarian cancer, and in Europe for the treatment of malignant gliomas. It has also been granted fast-track status for the treatment of recurrent GBM by the U.S. FDA.
“Enrolling and treating the first adjuvant patient in this study is an important milestone as it provides us with the opportunity to understand the best use for VAL-083 in the clinical setting – whether as first-line therapy along with radiation, as adjuvant therapy immediately following chemoradiation or in the recurrent setting. We firmly believe in the potential for this compound and look forward to providing an opportunity for a larger patient population to benefit from VAL-083 treatment. We look forward to providing updates on the progress of all of our clinical programs,” commented Saiid Zarrabian, DelMar’s Chief Executive Officer.
VAL-083 (dianhydrogalactitol) is a “first-in-class”, bifunctional DNA-targeting agent that introduces inter-strand DNA cross-links at the N7-position of guanine leading to DNA double-strand breaks and cancer cell death. VAL-083 has demonstrated clinical activity against a range of cancers including GBM and ovarian cancer in historical clinical trials sponsored by the U.S. National Cancer Institute (NCI). DelMar has demonstrated that VAL-083’s anti-tumor activity is unaffected by common mechanisms of chemoresistance, including MGMT, in cancer cell models and animal studies. Further details regarding these studies can be found at:
About DelMar Pharmaceuticals, Inc.
DelMar is focused on the development and commercialization of new therapies for cancer patients who have limited or no treatment options. By focusing on understanding tumor biology and mechanisms of treatment resistance, the Company identifies biomarkers to personalize new therapies in indications where patients are failing, or are unable to tolerate, standard-of-care treatments.
The Company’s current pipeline is based around VAL-083, a “first-in-class”, small-molecule chemotherapeutic with a novel mechanism of action that has demonstrated clinical activity against a range of cancers including central nervous system, ovarian and other solid tumors (e.g. NSCLC, bladder cancer, head & neck) in U.S. clinical trials sponsored by the NCI. Based on DelMar’s internal research programs, and these prior NCI-sponsored clinical studies, the Company is conducting clinical trials to support the development and commercialization of VAL-083 to solve significant unmet medical needs.
VAL-083 is being studied in two collaborator-supported, biomarker-driven, Phase 2 clinical trials for MGMT-unmethylated GBM. Overcoming MGMT-mediated resistance represents a significant unmet medical need in the treatment of GBM. In addition, DelMar has announced the allowance of a separate IND for VAL-083 as a potential treatment for platinum-resistant ovarian cancer.
Further information on DelMar’s clinical trials can be found on clinicaltrials.gov: https://www.clinicaltrials.gov/ct2/results?cond=&term=val-083&cntry1=&state1=&recrs
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company’s products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and, the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in the Company’s filings with the SEC, including, the Company’s Annual Report on Form 10-K for the year ended June 30, 2018, the Company’s Quarterly Reports on Form 10-Q, and the Company’s Current Reports on Form 8-K.