Research Desk Line-up: XTL Biopharma Post Earnings Coverage
LONDON, UK / ACCESSWIRE / October 5, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on DelMar Pharmaceuticals, Inc. (NASDAQ: DMPI) ("DelMar"), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=DMPI, following the Company's posting of its financial results on September 28, 2017, for the fiscal year 2017. The biopharmaceutical Company's working capital increased 15.4% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
Get more of our free earnings reports coverage from other constituents of the Biotechnology industry. Pro-TD has currently selected XTL Biopharmaceuticals Ltd (NASDAQ: XTLB) for due-diligence and potential coverage as the Company announced on September 26, 2017, its financial results for Q2 which ended on June 30, 2017 and also provided an update on the development program for its lead drug candidate hCDR1. Register for a free membership today, and be among the early birds that get access to our report on XTL Biopharma when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on DMPI; also brushing on XTLB. With the links below you can directly download the report of your stock of interest free of charge at:
During FY17, DelMar's R&D expenses increased 48.8% to $5.00 million from $3.36 million in FY16. During FY17, DelMar's adjusted R&D expenses increased 73.1% to $4.90 million from $2.83 million in FY16, primarily due to an increase in clinical costs related to the initiation of the STAR-3 trial, preclinical research, intellectual property, and personnel costs.
For FY17, DelMar's G&A expenses increased 16.4% to $3.32 million from $2.85 million in FY16. During FY17, the Company's adjusted G&A expenses increased 21% to $2.65 million from $2.19 million in FY16, attributable to an increase in professional fees, office and sundry, and personnel costs.
During FY17, DelMar's net loss was $8.87 million compared to a net loss of $9.10 million in FY16. For the reported quarter, DelMar's diluted earnings per share (EPS) was negative $0.74 compared to a negative diluted EPS of $0.83 in FY16. The Company's net loss was wider than Wall Street's expectations for a loss of $0.67 per share.
As of June 30, 2017, DelMar had eight issued US patents and eight issued patents outside of the US.
In July 2017, the Company initiated patient recruitment for the STAR-3 Phase-3 clinical trial of VAL-083 in refractory GBM and expected to enroll a first patient.
In September 2017, the Company received an allowance notice from the US Food and Drug Administration (FDA) for Phases-1 and -2 VAL-083 REPROVe clinical trial in Pt-resistant ovarian cancer. The Company will seek to initiate the REPROVe trial as soon as practicable, subject to negotiating acceptable clinical research agreements and budgets with clinical investigators and their institutions, and obtaining IRB approvals.
During FY17, the Company appointed Saiid Zarrabian to its Board of Directors, and Dr. Erich Mohr as an Independent Chairman.
As on June 30, 2017, DelMar's cash and cash equivalents increased 6.9% to $6.59 million from $6.16 million in FY16.
During FY17, the Company's working capital increased 15.4% to $6.57 million from $5.69 million in FY16.
During FY17, the Company's total assets increased 24.3% to $7.91 million from $6.36 million in FY16.
During FY17, the Company's accounts payable and accrued liabilities increased 102% to $1.18 million from $584,002 in FY16.
During FY17, the Company's cash provided by operating activities was negative $8.02 million compared to negative $5.15 million in FY16.
In April and September 2017, DelMar completed offerings of common stock and warrants for aggregate gross proceeds of approximately $19.0 million. The Company intends to use the net proceeds of these offerings for its clinical trials and general corporate purposes, which may include working capital, capital expenditures, research and development, and other commercial expenditures.
On Wednesday, October 04, 2017, DelMar Pharma's stock closed the trading session at $0.89, slightly falling 0.84% from its previous closing price of $0.90. A total volume of 730.51 thousand shares were exchanged during the session. The stock currently has a market cap of $19.34 million.
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SOURCE: Pro-Trader Daily