Shares of DelMar End Lower on First Day of Trading
Biotech investors have not had much to cheer about in 2016 as evidenced by the 20 percent decline in the iShares Nasdaq Biotechnology ETF (IBB) - Get Report . Nevertheless, DelMar Pharmaceuticals (DMPI) - Get Report shares were uplisted to the Nasdaq Capital Market this week. 'It's an important milestone for us,' said Jeffrey Bacha, CEO of DelMar. "When we started the company back in 2010, making sure we had the access to capital to bring a product all the way through approval was a key component of our strategy and listing on a national exchange really positions us to be able to do that.' DelMar is entering Phase III trials of its drug VAL-083, which is currently being evaluated for the treatment of refractory glioblastoma multiforme (GBM), the most common and aggressive form of brain cancer. DelMar is also exploring VAL-083 as a therapy for front-line GBM and solid tumors including non-small cell lung cancer and ovarian cancer. VAL-083 was approved in China for lung cancer and demonstrated promising antitumor activity in the treatment of hematologic malignancies and a range of solid tumors.
