SAN DIEGO, Aug. 21, 2020 /PRNewswire/ -- Kintara
Therapeutics, Inc. (formerly DelMar Pharmaceuticals, Inc.)
("Kintara" or the "Company") (Nasdaq: KTRA) announced today that it
has regained compliance with the minimum bid price requirement for
continued listing on the NASDAQ Capital Market pursuant to Listing
Rule 5550(a)(2) (the "Minimum Bid Price Rule"). On
August 19, 2020, Kintara received a
letter from the Listing Qualifications Department of The Nasdaq
Stock Market, Inc. stating that because Kintara's shares had a
closing bid price at or above $1.00
per share for a minimum of ten (10) consecutive business days,
Kintara's stock had regained compliance with the Minimum Bid Price
Rule and the matter is now closed.
About Kintara
Located in San Diego,
California, Kintara is dedicated to the development of novel
cancer therapies for patients with unmet medical needs.
Kintara is developing two late-stage, Phase 3-ready therapeutics
for clear unmet medical needs with reduced risk development
programs. The two programs are VAL-083 for GBM and REM-001
for CMBC.
VAL-083 is a "first-in-class", small-molecule
chemotherapeutic with a novel mechanism of action that has
demonstrated clinical activity against a range of cancers,
including central nervous system, ovarian and other solid tumors
(e.g. NSCLC, bladder cancer, head and neck) in U.S. clinical trials
sponsored by the National Cancer Institute (NCI). Based on
Kintara's internal research programs and these
prior NCI-sponsored clinical studies, Kintara is
currently conducting clinical trials to support the development and
commercialization of VAL-083 in GBM.
Kintara is also advancing its proprietary late stage
photodynamic therapy (PDT) platform that holds promise as a
localized cutaneous or visceral tumor treatment as well as in other
potential indications. REM-001 therapy, has been previously
studied in four Phase 2/3 clinical trials in patients with CMBC,
who had previously received chemotherapy and/or failed radiation
therapy. With clinical efficacy to date of 80% complete responses
of CMBC evaluable lesions and with an existing robust safety
database of approximately 1,100 patients across multiple
indications, Kintara is advancing the REM-001 CMBC
program to late stage pivotal testing.
Forward-Looking Statements
This press release contains forward-looking statements based
upon Kintara's current expectations. This communication contains
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are identified by terminology such as "may," "should,"
"expects," "plans," "anticipates," "could," "intends," "target,"
"projects," "contemplates," "believes," "estimates," "predicts,"
"potential" or "continue" or the negative of these terms or other
similar words. These statements are only predictions. Kintara has
based these forward-looking statements largely on its then-current
expectations and projections about future events, as well as the
beliefs and assumptions of management. Forward-looking statements
are subject to a number of risks and uncertainties, many of which
involve factors or circumstances that are beyond Kintara's control,
and actual results could differ materially from those stated or
implied in forward-looking statements due to a number of factors,
including but not limited to: (i) risks associated with the
impact of the COVID-19 pandemic; (ii) risks and uncertainties
relating to Kintara's ability to develop, market and sell products
based on its technology; the expected benefits and efficacy of
Kintara's products and technology; the availability of substantial
additional funding for Kintara to continue its operations and to
conduct research and development, clinical studies and future
product commercialization; and, Kintara's business, research,
product development, regulatory approval, marketing and
distribution plans and strategies (ii) whether the recently closed
merger with Adgero Biopharmaceuticals will be successful, and (iii)
those risks detailed in Kintara's most recent Annual Report on
Form 10-K and subsequent reports filed with the SEC, as
well as other documents that may be filed by Kintara from time to
time with the SEC. Accordingly, you should not rely upon
forward-looking statements as predictions of future events. Kintara
cannot assure you that the events and circumstances reflected in
the forward-looking statements will be achieved or occur, and
actual results could differ materially from those projected in the
forward-looking statements. The forward-looking statements made in
this communication relate only to events as of the date on which
the statements are made. Except as required by applicable law or
regulation, Kintara undertakes no obligation to update any
forward-looking statement to reflect events or circumstances after
the date on which the statement is made or to reflect the
occurrence of unanticipated events. Investors should not assume
that any lack of update to a previously issued "forward-looking
statement" constitutes a reaffirmation of that statement.
Contact Information
Investors:
CORE IR
516-222-2560
ir@coreir.com
Media:
Jules Abraham
Head of Public Relations
CORE IR
917-885-7378
julesa@coreir.com
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SOURCE Kintara Therapeutics