NEW YORK, Oct. 27 /PRNewswire-FirstCall/ -- Delcath Systems, Inc. (Nasdaq:
DCTH) announced today that it intends, subject to market and other conditions,
to offer up to 8.5 million shares of its common stock in a registered public
offering pursuant to its existing shelf registration statement under the
Securities Act of 1933. Delcath also intends to grant the underwriters of the
offering an option to purchase up to 15% of additional shares of primary stock
to cover over-allotments.
Delcath plans to use the proceeds from the offering for general corporate
purposes including regulatory approval, commercialization, clinical trials,
capital expenditures and working capital.
Cowen and Company, LLC is acting as the sole book-running manager on the
offering. Canaccord Adams, Wedbush PacGrow Life Sciences and Craig-Hallum
Capital Group are acting as co-managers.
Delcath has filed a registration statement, as well as a prospectus supplement
and an accompanying prospectus, with the Securities and Exchange Commission
(SEC) in connection with the offering. The prospectus supplement may be
obtained by eligible investors from their Cowen and Company, LLC sales
representative, or from the offices of Cowen and Company, LLC c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn:
Prospectus Department. Phone (631) 274-2806 / Fax (631) 254-7140. Before
investing, consider the prospectus supplement and accompanying prospectus, the
registration statement, and the other documents that the Company has filed
with the Securities and Exchange Commission for more complete information
about Delcath and this offering. Investors may also obtain these documents for
free by visiting the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell, or a solicitation of
an offer to buy, nor shall there be any sale of these securities in any state
or jurisdiction in which such an offer, solicitation, or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state or jurisdiction.
About Delcath Systems, Inc.
Delcath Systems, Inc. is developing an innovative drug delivery device
designed to treat cancers of the liver. Delcath's drug delivery system
provides regional therapy by isolating the circulatory system of the liver in
order to directly deliver high doses of therapeutic agents, while controlling
the systemic exposure of those agents.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor
for forward-looking statements made by the Company or on its behalf. This news
release contains forward-looking statements, which are subject to certain
risks and uncertainties that can cause actual results to differ materially
from those described. Factors that may cause such differences include, but are
not limited to, uncertainties relating to our ability to successfully complete
our clinical trials and secure regulatory approval of our current or future
drug-delivery system and uncertainties regarding our ability to obtain
financial and other resources for any research, development and
commercialization activities. These factors, and others, are discussed from
time to time in our filings with the Securities and Exchange Commission. You
should not place undue reliance on these forward-looking statements, which
speak only as of the date they are made. We undertake no obligation to
publicly update or revise these forward-looking statements to reflect events
or circumstances after the date they are made.
SOURCE Delcath Systems, Inc.
Investors, Doug Sherk or Stacey Fisher, +1-415-896-6820, Media, Steve
DiMattia, +1-646-201-5445, all of EVC Group
