Notable News to Watch: DelMar Pharmaceuticals (NASDAQ:DMPI)

Robert Cieslak

DelMar Pharmaceuticals (NASDAQ:DMPI) stock observed trading -89.00% off 52-week high price. On the other end, the stock has been noted -20.77% away from low price over the last 52-weeks. The stock disclosed a move of -40.20% away from 50 day moving average and -72.77% away from 200 day moving average. Moving closer, we can see that shares have been trading -39.43% off 20-day moving average. It has market cap of $3.45M.

On Aug. 14, 2019, DelMar Pharmaceuticals (NASDAQ:DMPI) a biopharmaceutical company focused on the development of novel cancer therapies,  disclosed the pricing of an underwritten public offering of 6,750,000 shares of its common stock (or pre-funded warrants to purchase common stock in lieu thereof) and warrants to purchase up to an aggregate of 6,750,000 shares of common stock.  Each share of common stock (or pre-funded warrant) is being sold together with one warrant to purchase one share of common stock at a combined effective price to the public of $1.00 per share and accompanying warrant.  Gross proceeds, before underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $6.8 million.

The warrants will be immediately exercisable at a price of $1.00 per share of common stock and will expire five years from the date of issuance.  The shares of common stock (or pre-funded warrants) and the accompanying warrants, can only be purchased together in the offering, but will be issued separately and will be immediately separable upon issuance.  The offering is expected to close on or about August 16, 2019, subject to customary closing conditions.

Maxim Group LLC is acting as the book-running manager and Dawson James Securities is acting as a co-manager in connection with the offering.

DelMar has granted the underwriters a 45-day option to purchase up to an additional 1,012,500 shares of common stock and/or warrants to purchase up to 1,012,500 shares of common stock, at the public offering price less discounts and commissions.

 The Canada based company DelMar Pharmaceuticals moved with change of -40.47% to $0.93 with the total traded volume of 2393220 shares in recent session versus to an average volume of 713.9K. The stock was observed in the 5 days activity at -40.83%. The one month performance of stock was -31.93%. DMPI’s shares are at -57.70% for the quarter and driving a -79.11% return over the course of the past year and is now at -72.66% since this point in 2018.  Right now the stock beta is 0.94. The average volatility for the week and month was at 20.71% and 20.54% respectively. There are 3.69M shares outstanding and 3.61M shares are floated in market.

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