DelMar Pharmaceuticals, Inc. (DMPI) has reported a 63.84 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $1.87 million, or $0.18 a share in the quarter, compared with $1.14 million, or $0.10 a share for the same period last year.
The company has not recorded any revenues for the current as well as previous quarter.
Operating income for the quarter was $1.78 million, compared with $1.42 million in the previous year period.
"Our recent financing enables us to remain on-track to initiate the pivotal Phase 3 clinical trial of VAL-083 in refractory GBM. This milestone, combined with VAL-083's recent scientific advancements form the foundation for this molecule to serve as a platform asset addressing unmet medical needs in a broad range of tumor types including GBM, non-small cell lung cancer, ovarian cancer and other solid tumors both as a single agent and as a key component of combination therapy regimens," stated Jeffrey Bacha DelMar's chairman and chief executive officer.
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