DelMar Pharmaceuticals Announces Third

DelMar Pharmaceuticals Announces Third

Quarter Fiscal Year 2019 Financial Results

- Company will host a business update

May 23, 2019 at 4:30 PM Eastern Time

VANCOUVER, British Columbia and MENLO PARK,

California, May 15, 2019 /PRNewswire/ -- DelMar Pharmaceuticals, Inc. (Nasdaq: DMPI) ("DelMar" or the "Company"),

a biopharmaceutical company focused on the development of new cancer therapies, announced its financial results for the third

quarter ended March 31, 2019. DelMar executive management will host a business update conference call for investors, analysts

and other interested parties on May 23, 2019 at 4:30 p.m. Eastern Time.

"The third quarter proved to be an important period of

progress as we advanced VAL-083 in both of our Phase 2 clinical trials in GBM with encouraging early results, especially in our

first line GBM trial, while continuing the evaluation of this first-in-class, small molecule's potential to treat a range

of solid tumor cancers. I am also pleased by the establishment of our formal Scientific Advisory

Board led by world-renowned oncology experts," commented Saiid Zarrabian, President and Chief Executive Officer of DelMar

Pharmaceuticals. "In addition, we initiated execution of our planned rights offering to provide capital to continue the advancement

of our clinical trials through their estimated planned completion in mid-calendar 2020, and we executed the necessary recent reverse

stock split which potentially enables us to regain compliance with Nasdaq's listing requirements."

Key Highlights and Recent Developments

On February 20, 2019, DelMar announced that its Phase 2 study

evaluating VAL-083 in patients with newly diagnosed GBM achieved its halfway enrollment point. This trial, targeted to enroll up

to thirty patients, is a single-arm, open-label study testing VAL-083 in combination with standard radiotherapy in GBM patients

who have an unmethylated promoter of the methylguanine DNA-methyltransferase (MGMT) gene. An estimated 60% of GBM patients

possess an unmethylated MGMT gene, which confers a more limited response to current standard of care treatment as well as a lower

survival probability. This clinical trial was initiated in February 2017 and is being conducted at SYSUCC in Guangzhou, China

in collaboration with Guangxi Wuzhou Pharmaceutical Company. As of February 15, 2019, fifteen patients have been enrolled

The Company was pleased

to report that for the 15 patients enrolled as of February 15, 2019, 11 completed their prospectively planned Magnetic Resonance

Imaging (MRI) scans and have had their initial assessment for tumor progression. Tumor progression is based on the trial investigator's

clinical and radiologic assessment, according to the Response Assessment in NeuroOncology (RANO) criteria. Of these 11 patients,

five were assessed by the Principal Investigator as having a "Complete Response," three of whom were based on significant

tumor shrinkage, and two of whom were based on their tumors continuing to remain "below measurable level" from post-surgery

baseline MRI to post-cycle three MRI. Additionally, six patients were assessed as having "Stable Disease." Of the remaining

four patients, one died prior to their post-cycle three MRI and three have not been on study long enough to reach their planned

post-cycle three MRI. As of the February 15, 2019 data cutoff, 12 of the 15 enrolled patients were still alive. Similar to

prior experience, myelosuppression has been the most common adverse event observed. Two dose-limiting toxicities have been reported

(thrombocytopenia) - one at the 40 mg/m2/day dose and one at the 30 mg/m2/day

Throughout the quarter, DelMar continued to enroll patients

in VAL-083's Phase 2, open-label, second-line, Avastin-na ve, MGMT-unmethylated, recurrent GBM study being conducted

at the MDACC. On April 3, 2019, the Company announced that the MDACC's IRB approved a trial protocol amendment to expand

the study with the addition of up to 35 patients at a dose of 30 mg/m2. Also, the MDACC IRB approved the addition of

up to 24 patients in the pre-temozolomide (TMZ) maintenance setting. The biomarker driven trial, which was originally designed

as a single arm study evaluating VAL-083 in patients with MGMT-unmethylated bevacizumab (Avastin)-na ve recurrent GBM,

has been expanded to include an additional maintenance-stage (adjuvant therapy) treatment group. This protocol amendment,

in addition to the Company's ongoing Phase 2 trial in newly diagnosed patients with MGMT-unmethylated GBM being conducted at SYSUCC,

expands DelMar's evaluation range of VAL-083 as a potential treatment for unmethylated GBM patients to include newly-diagnosed,

maintenance-stage, and recurrent patients. Maintenance-stage GBM provides the greatest opportunity to control disease progression

after radiation therapy, and represents the largest addressable GBM market opportunity for VAL-083 given patients are typically

healthier and as such, are able to optimally benefit therapeutically from increased treatment cycles compared to the recurrent

treatment setting. Maintenance GBM patients may be able to receive 12+ cycles of VAL-083 versus five or six cycles for recurrent

At the American Association for Cancer Research's annual

meeting in April 2019, we reported that per investigator assessment at the end of cycle two for the MDACC study:

The Company has launched a rights offering made available to

stockholders of record as of Tuesday, May 21, 2019. If fully subscribed, this financing initiative will provide DelMar with sufficient

cash to fund planned operations into the middle of calendar 2020, and the estimated enrollment completion date for all three of

For further details on the Company's operating and financial

results, as well as more detail about its updated strategy, refer to DelMar's Form 10-K filed with the SEC on September

24, 2018, as well as the Company's Quarterly Report on Form 10-Q for the three and nine months ended March 31, 2019 filed

with the SEC on May 14, 2019:

http://ir.delmarpharma.com/all-sec-filings.

CONFERENCE CALL DETAILS

DelMar will host a conference call to discuss its financial

results for quarter ended March 31, 2019 and provide a corporate update on May 23, 2019, at 4:30 p.m. Eastern Time. For both "listen-only"

participants and those who wish to take part in the question and answer portion of the call, the telephone Dial-in Number is 1-877-876-9173

(toll free) with Conference ID DELMAR.

A replay of the conference call will be available on the IR

Calendar of the Investors section of the Company's website at www.delmarpharma.com and will be archived for 30 days.

SUMMARY OF FINANCIAL RESULTS FOR PERIODS ENDED MARCH 31,

At March 31, 2019, the Company had cash

and cash equivalents on hand of approximately $2.2 million.

For the three months ended March 31, 2019,

the Company reported a net loss of $1,663,985, or $0.67 per share, compared to a net loss of $2,933,057, or $1.31 per share, for

the three months ended March 31, 2018.

For the nine months ended March 31, 2019,

the Company reported a net loss of $5,465,486, or $2.27 per share, compared to a net loss of $8,761,061, or $4.41 per share, for

the nine months ended March 31, 2018.

The following represents selected financial

information as of March 31, 2019. The Company's financial information has been prepared in accordance with U.S. GAAP and

this selected information should be read in conjunction with DelMar's consolidated condensed interim financial statements

and management's discussion and analysis, as filed.

DelMar's financial statements as filed

with the U.S. Securities Exchange Commission can be viewed on the company's website at: http://ir.delmarpharma.com/all-sec-filings.

Selected Balance Sheet Data

Selected Statement of Operations Data

For the three months ended:

Research and development expenses decreased to $735,844 during

the three months ended March 31, 2019 from $1,779,609 for the three months ended March 31, 2018. The decrease was largely attributable

to a decrease in clinical development costs, intellectual property, personnel, and preclinical research during the three months

ended March 31, 2019 compared to the three months ended March 31, 2018.

General and administrative expenses decreased during the three

months ended March 31, 2019 to $935,530 from $1,155,038 for the three months ended March 31, 2018, largely due to a decrease in

non-cash, share-based compensation expense, professional fees and travel, partially offset by higher personnel costs in the current

quarter compared to the prior quarter.

For the nine months ended:

Research and development expenses decreased to $2,702,213 during

the nine months ended March 31, 2019 from $5,856,197 for the nine months ended March 31, 2018. The decrease was largely attributable

to a decrease in clinical development costs, personnel, preclinical research, intellectual property and travel costs during the

nine months ended March 31, 2019 compared to the nine months ended March 31, 2018.