Key Developments For Delcath Systems, Inc.
Delcath Systems, Inc. (DCTH.O) (Consolidated Issue listed on NASDAQ Capital Market)
Delcath Systems, Inc. Announces Completion of Public Offering
Delcath Systems, Inc. announced the closing of its public offering of 9,775,000 shares of common stock priced to the public at $3.60 per share. The offering includes 1,275,000 shares sold upon exercise by the underwriters of their over-allotment option to purchase the additional shares. All of the shares in the offering were sold by Delcath Systems. Total net proceeds to the Company were $32.4 million. Delcath Systems plans to use the proceeds from the offering for general corporate purposes including regulatory approvals, commercialization of its products, clinical trials, capital expenditures and working capital. With the completion of this offering, Delcath Systems now has a total of 36,194,997 shares of common stock outstanding. Cowen and Company, LLC acted as the sole book-running manager on the offering. Canaccord Adams, Wedbush PacGrow Life Sciences and Craig-Hallum Capital Group acted as co-managers.
Delcath Systems, Inc. Prices $30.6 Million Stock Offering
Delcath Systems, Inc. announced that it has priced its public offering of 8.5 million shares of its common stock at $3.60 per share, or $30.6 million, pursuant to an underwriting agreement dated November 12, 2009. In addition, the Company has granted the underwriters of the offering an option to purchase up to 15% of additional shares of primary stock to cover over allotments. The offering is expected to close on November 18, 2009. 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.
Delcath Systems, Inc. Announces Public Offering Of Common Stock
Delcath Systems, Inc. announced 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. 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.
Delcath Systems, Inc. Appoints David McDonald As Chief Financial Officer
Delcath Systems, Inc. announced that it has appointed David Alan McDonald Chief Financial Officer of the Company, effective September 14, 2009.
Data Safety Monitoring Board Unanimously Recommends Continuation of Delcath Systems, Inc.'s Phase III Clinical Trial
Delcath Systems, Inc. announced that the Data and Safety Monitoring Board (DSMB) reviewed clinical data on 77 patients enrolled in its pivotal Phase III clinical trial and unanimously recommended that the trial continue to enroll patients with the goal of reaching the 92 patients required to complete the study. In addition, the Company announced it now expects enrollment to be completed by mid-October. The DSMB is an independent group of experts with the responsibility for reviewing and evaluating the safety and response data generated from the Company's Phase III trial. This clinical study is testing the Delcath PHP System for the regional delivery of melphalan to the liver to treat patients with metastatic cutaneous and ocular melanoma who have unresectable tumors in the liver. The Delcath PHP System is designed to deliver significantly higher doses of anti-cancer drugs to a patient's liver while minimizing entry of the drugs into the rest of the patient's circulation. This isolation limits toxicities which result from systemic chemotherapy treatments.
