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DelMar Pharmaceuticals (Nasdaq: DMPI) announced a private placement offering of up to 19,587 shares of Series C Convertible Preferred Stock at $1,000 per share, aiming to raise approximately $19.6 million. The offering will conclude with the planned merger with Adgero Biopharmaceuticals, expected on August 19, 2020. Funds will support registration studies for VAL-083 in glioblastoma multiforme and REM-001 in cutaneous metastatic breast cancer, alongside operational costs. Upon merger completion, DelMar will rebrand as Kintara Therapeutics, Inc., and its common stock will trade under ticker symbol KTRA.
DelMar Pharmaceuticals (Nasdaq: DMPI) announced that stockholders approved the merger with Adgero Biopharmaceuticals at a special meeting on August 14, 2020. A majority of Adgero's shareholders also consented to the merger. The deal is pending customary closing conditions, with expectations for completion in August 2020. Post-merger, the new entity will be named Kintara Therapeutics, Inc., trading under the symbol KTRA. This merger aims to enhance DelMar's development of therapies for cancer patients.
DelMar Pharmaceuticals, Inc. (Nasdaq: DMPI) has announced a conference call to discuss its proposed acquisition of Adgero BioPharmaceuticals Holdings, Inc. The call is scheduled for July 23, 2020, at 4:30 PM ET and will feature remarks from key executives. DelMar is focused on developing new cancer therapies, emphasizing personalized treatment options. Their pipeline includes VAL-083, targeting various cancers with unmet medical needs. Stakeholders are encouraged to review relevant SEC filings regarding the merger.
DelMar Pharmaceuticals (Nasdaq: DMPI) announced a $500,000 loan from the National Brain Tumor Society and the National Foundation for Cancer Research to support its drug VAL-083's involvement in the GBM AGILE trial for glioblastoma. VAL-083 was selected as an investigational therapy, with participation expected to expedite pivotal trial completion by up to 18 months. The GBM AGILE study aims to evaluate multiple therapies in a cost-efficient manner, employing a master protocol for regulatory submission to the FDA.
DelMar Pharmaceuticals (Nasdaq: DMPI) announced positive interim results from two Phase 2 trials of VAL-083 for glioblastoma multiforme (GBM) at the AACR Virtual Annual Meeting II. The trials showed median progression-free survival of 8.7 months for newly diagnosed patients, surpassing the standard treatment, temozolomide. In recurrent GBM, the overall survival was 8.5 months, comparable to lomustine. These findings support DelMar's participation in the Global Coalition for Adaptive Research's GBM AGILE trial, aiming for a new drug application submission. The safety profile remains favorable, with mild myelosuppression noted.
