DelMar Pharmaceuticals, Inc. (NASDAQ:DMPI) Sees Price Swing – Up by 89.39%

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DelMar Pharmaceuticals, Inc. (NASDAQ:DMPI) last traded at $2.12 with a low of $1.77 and a high of $2.29. This move in share price qualifies the stock as one of the most volatile of the day.

The shares are among the market’s biggest gainers. Shares are trading at $2.12 significantly above the 50 day moving average of $1.42 and impressively lower than the 200 day moving average of $2.45. The 50 day moving average moved up $0.70 whereas the 200 day average was down by -13.37%.

Short Interest

Short traders are more bearish on DelMar Pharmaceuticals, Inc. of late as shown by the uptick in short interest. The stock saw a rise in short interest of 5.96% between August 15, 2017 and August 31, 2017. Short shares grew from 137,672 to 145,880 over that period. Days to cover increased 1.0 to 3.0 and the percentage of shorted shares is 0.01% as of August 31. As of the latest earnings report the EPS was $-0.85 and is projected to be $-0.67 for the current year with 13,461,000 shares presently outstanding. Next quarter’s EPS is forecasted to be $0.22 and the next full year EPS is anticipated to be $-0.39.

Company Information

DelMar Pharmaceuticals, Inc., a clinical stage company, focuses on developing and commercializing anti-cancer therapies to treat cancer patients who have failed to respond to modern therapy. Its product candidate includes VAL-083, a small-molecule chemotherapeutic agent, which is in Phase I/II study to evaluate the safety, tolerability, pharmacokinetics, and anti-cancer activity in patients with glioblastoma multiforme, a form of brain cancer. The company has a strategic collaboration with Guangxi Wuzhou Pharmaceutical Company for the manufacture and sale of VAL-083 in China; and collaboration with the University of Texas MD Anderson Cancer Center. DelMar Pharmaceuticals, Inc. was founded in 2009 and is headquartered in Vancouver, Canada..