DelMar Pharmaceuticals Inc (NASDAQ: DMPI) is making a run for the top early on in the trading session this morning, with gains of more than 82%. The gains come after the company said that it enrolled its first patient in a key clinical trial. Here’s what’s happening:
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DMPI Stock Rockets On Patient Enrollment
In a press release issued early this morning, DelMar Pharmaceuticals said that it enrolled its first patient in a Phase 2 clinical study. The study is assessing the company’s VAL-083 product candidate in patients with MGMT-unmethylated glioblastoma multiforme.
The sdtudy is being conducted at the University of Texas MD Anderson Cancer Center. According to DMPI, this particular arm of the study was newly approved and will enroll up to 24 newly-diagnosed patients who have undergone surgery and chemoradiation with temozolomide. These patients will now receive VAL-083 in place of standard of care TMZ for adjuvant therapy.
This is an important announcement as this arm will provide early disease data on VAL-083. Previous arms of the study have evaluated patients who have been heavily pre-treated with TMZ prior to disease recurrence.
In the recurrent setting, the company has been enrolled to include up to 35 additional patients, allowing for a total of 83 patients. The company said that 56 of the maximum of 83 patients have been enrolled to date.
The company also reminded investors that it is conducting a Phase 2 clinical study of VAL-083 as a first line treatment for GBM in combination with radiotherapy in China. Recent information published by the company from this study has been positive.
In a statement, Dr. Barbara O’Brien, assistant professor of Neuro-Oncology at the MD Anderson Cancer Center, had the following to offer:
Treating patients with MGMT promoter unmethylated glioblastoma is particularly challenging. 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.
The above statement was followed up by Saiid Zarrabian, CEO at DMPI. Here’s what he had to say:
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.
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