Interesting about Maxim.
Two things:
1. If you look at the DelMar press release in May they said they "completed the public offering of common stock and warrants for gross proceeds of $9M. We estimate that this cash is sufficient to fund our planned operations for the next 18-24 months." This is from the 10-Q. So I'm not sure Maxim has it right.
2. I'm of the opinion that downgrades can sometimes be indicators that the bottom is reached. Nobody would put a downgrade on DMPI when it was $3 as no one would know the shorts would come out. Plus a lot of people sold after buying on the "McCain" news.
I'm already loaded up on DMPI (though underwater) so not really looking at an entry point, but 17.8 million market cap is very enticing right?
From what I understand, the trial is going as planned. IRB approved it, one enrollment center is enrolling currently. If you look at the inclusion criteria, they are highly specific, which means 1) it will take some time to find patients and 2) the specificity will help to showcase the efficacy better as these patients are in a very difficult space with few to no options left, so they are very sick. This is an extremely difficult patient set to perform a clinical trial on, as they have to venture to a clinic every 21 days and follow all of the rules. Not an easy trial. More sites means quicker enrollment but also more chance for error by having to teach so many investigators.
The phase 2 trial is also enrolling and underway and MD Anderson in Texas. This trial is open so we will see partial interim results ongoing, as early as this year, which can be great for share price.
I don't think the start of the Phase 3 trial was well advertised. It was presented in a very low key manner.
I'm patient with this one. If it drops significantly from here, say by 50%, I'll just find a way to buy more.
