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SeeThruEquity Issues Update on DelMar Pharmaceuticals Increasing Price Target to $5.75 Per Share and Highlighting Encouraging Data from Phase 2 Clinical Study of VAL-083

NEW YORK, NY / ACCESSWIRE / December 3, 2015 / SeeThruEquity, a leading New York City based independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced that it has issued an update note on DelMar Pharmaceuticals, Inc. (DMPI), a biotechnology company focused on proven cancer therapies in new orphan drug indications where patients are failing modern targeted or biologic treatments.

The note is available here: DMPI December 2015 Update. SeeThruEquity is an approved equity research contributor on Thomson First Call, Capital IQ, FactSet, and Zack's. The report will be available on these platforms. The firm also contributes its estimates to Thomson Estimates, the leading estimates platform on Wall Street.

"We continue to view DMPI as an overlooked story in the biotechnology industry. Beyond GBM, VAL-083 appears to have therapeutic potential on a number of areas, including NSCLC, pediatric brain tumors, ovarian cancer, and cervical cancer, among others. Our price target rises to $5.75 for DMPI following the company's corporate update. The update reaffirmed our view that VAL-083 has the potential to become a major new drug targeting the $1Bn annual market for GBO," commented Ajay Tandon, CEO of SeeThruEquity.

Additional highlights from the update note are as follows:

Increasing price target after encouraging corporate update

We are increasing our price target to $5.75 following an encouraging corporate update at DelMar. DelMar's executive leadership held a conference call with investors on November 23, 2015, to review recent developments at the company. These included September quarter financial results and a deep dive on the company's clinical pipeline. DelMar is focused on developing its lead compound VAL-083, which is a first-in-class small molecule with a unique mechanism of action that has demonstrated anti-cancer activity across a range of cancers in prior US National Cancer Institute (NCI) sponsored clinical trials. Delmar has an orphan drug designation for VAL-083 in the US and the EU with IP protection through 2032. DMPI released positive data from an expansion cohort from its ongoing Phase II clinical trial for VAL-083 for refractory GBM, which appears to have the potential to surpass the standard of care in treating GBM. Management also discussed the expanding pipeline of several new potential therapeutic applications in high value oncology markets beyond GBM, including NSCLC, a differentiated approach to chemotherapy and chemo--resistant cancers including ovarian cancer, cervical cancer and pediatric brain cancer.

Encouraging data from ongoing Phase 2 clinical study of VAL-083 in refractory GBM

On November 23, 2015, DelMar released positive data from the fully enrolled, 14 person expansion cohort of the company's ongoing Phase II clinical study of its lead compound, VAL-083, in refractory glioblastoma multiforme (GBM). The data supported a clinically meaningful survival benefit in refractory GBM, highlighting the significant potential value for VAL-083 to overcome chemo-resistance and become the standard of care for GBM, a billion dollar market opportunity and a large unmet need. Impressively, DMPI completed the enrollment of the cohort in less than four months at five clinical sites including the Mayo Clinic, Sarah Canon Cancer Research Institute, and the UCSF Medical Center.

Raising price target to $5.75

We our price increasing our price target to $5.75 for DMPI. If achieved, the price target represents potential upside of 288.5% from the recent price of $1.48 on November 24, 2015.

Please review important disclosures at www.seethruequity.com.

About DelMar Pharmaceuticals, Inc.

DelMar Pharmaceuticals was founded in 2010 to develop and commercialize proven cancer therapies in new orphan drug indications where patients are failing modern targeted or biologic treatments. The Company's lead asset, VAL-083, is currently undergoing clinical trials in the United States as a potential treatment for refractory glioblastoma multiforme (GBM), the most common and aggressive form of brain cancer. VAL-083 benefits from extensive clinical research sponsored by the U.S. National Cancer Institute (NCI), and is currently approved for the treatment of chronic myelogenous leukemia (CML) and lung cancer in China. Published pre-clinical and clinical data suggest that VAL-083 may be active against a range of tumor types via a novel mechanism of action. For more information, please visit http://www.delmarpharma.com.

About SeeThruEquity

SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and is unbiased. The company does not conduct any investment banking or commission based business. SeeThruEquity is approved to contribute its research to Thomson One Analytics (First Call), Capital IQ, FactSet, Zacks, and distribute its research to its database of opt-in investors. The company also contributes its estimates to Thomson Estimates, the leading estimates platform on Wall Street.

For more information visit www.seethruequity.com.

Contact:

Ajay Tandon
SeeThruEquity
info@seethruequity.com

SOURCE: SeeThruEquity