Delcath Systems (NASDAQ: DCTH), an interventional oncology company focused on the treatment of rare primary and metastatic cancers of the liver, has closed an underwritten public offering of 2.2 million shares of common stock (or common stock equivalents) and Series F warrants to purchase up to 2.2 million shares of common stock. According to the update, Delcath Systems secured approximately $22 million in gross proceeds from the offering, with each share of common stock (or common stock equivalent) sold with one Series F warrant to purchase one share of common stock at a combined public offering price of $10.00 per share and related Series F warrant. The Series F warrants were immediately exercisable at a price of $10.00 per share and will expire on the fifth anniversary of their issuance date. ROTH Capital Partners acted as sole book-running manager for the offering.
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About Delcath System, Inc.
Delcath Systems, Inc. is an interventional oncology company focused on the treatment of primary and metastatic liver cancers. Its investigational product – Melphalan Hydrochloride for Injection for use with the Delcath Hepatic Delivery System (“Melphalan/HDS”) – is designed to administer high-dose chemotherapy to the liver while minimizing systemic exposure and associated side effects. In addition to the FOCUS Trial, the company has initiated a global Phase 3 clinical trial for intrahepatic cholangiocarcinoma (“ICC”) called The ALIGN Trial. Melphalan/HDS has not been approved by the U.S. Food & Drug Administration (“FDA”) for sale in the U.S. In Europe, Delcath’s system is marketed under the trade name Delcath Hepatic CHEMOSAT(R) Delivery System for Melphalan (“CHEMOSAT”) and has been CE Marked and used at major medical centers to treat a wide range of cancers of the liver. CHEMOSAT is being marketed under an exclusive licensing agreement with medac GmbH, a privately held multi-national pharmaceutical company headquartered in Germany that specializes in the treatment and diagnosis of oncological, urological and autoimmune diseases. For more information, please visit www.Delcath.com.
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