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 1,679,031 shares of its common stock, including 219,004 additional shares per the full exercise of the over-allotment option granted to the underwriters. According to the update, Delcath Systems secured approximately $22.2 million in gross proceeds with each of the shares sold at the public offering price of $13.25. The company intends to use the net proceeds for completion of its FOCUS clinical trial for patients with hepatic dominant ocular melanoma, preparation of the federal regulatory application for the HEPZATO(TM) KIT and commercial launch of HEPZATO, continued clinical development, as well as for general corporate purposes. Roth Capital Partners (“ROTH”) acted as joint book-running manager for the offering.
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About Delcath Systems Inc.
Delcath Systems is an interventional oncology company focused on the treatment of primary and metastatic liver cancers. Its investigational product, HEPZATO KIT (melphalan hydrochloride for injection/hepatic delivery system), is designed to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects. HEPZATO KIT 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 CHEMOSAT(R) Hepatic 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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