VANCOUVER, British Columbia and MENLO PARK, Calif., July 11, 2016 /PRNewswire/ -- DelMar Pharmaceuticals, Inc. (OTCQX: DMPI) ("DelMar" and the "Company"), a company focused on developing and commercializing proven cancer therapies in new orphan drug indications, announced today that it has received approval from the Nasdaq Stock Market LLC ("NASDAQ") for the listing of its common stock on the NASDAQ Capital Market.
DelMar's common stock will begin trading on the NASDAQ Capital Market at the opening of trading on Tuesday, July 12, 2016 under the ticker symbol DMPI. The Company's common stock will continue to trade on the OTCQX exchange until the market close on July 11, 2016.
"Our listing on the NASDAQ marks the achievement of a major corporate milestone for our Company and is a testament to the progress that our team has made over the past few years," stated Jeffrey Bacha, chairman & CEO of DelMar Pharmaceuticals. "We believe that listing on NASDAQ will position us to broaden our shareholder base, increase appeal to institutional investors, provide improved liquidity and ultimately contribute to increasing shareholder value."
About DelMar Pharmaceuticals, Inc. DelMar Pharmaceuticals, Inc. was founded to develop and commercialize new cancer therapies in indications where patients are failing or have become intolerant to modern targeted or biologic treatments. The Company's lead drug in development, VAL-083, is currently undergoing clinical trials in the U.S. as a potential treatment for refractory glioblastoma multiforme. VAL-083 has been extensively studied by the U.S. National Cancer Institute, and is currently approved for the treatment of chronic myelogenous leukemia 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 that could provide improved treatment options for patients.
Safe Harbor Statement Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and, the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in our filings with the SEC, including, our current reports on Form 8-K.