Navigation Links
Delcath Enters Agreement to Sell 869,565 Units
Date:6/10/2009

NEW YORK, June 10 /PRNewswire-FirstCall/ -- Delcath Systems, Inc. (Nasdaq: DCTH), a medical technology company testing its proprietary Percutaneous Hepatic Perfusion (PHP(TM)) System for the treatment of cancers of the liver, today announced that it has entered into a definitive agreement to sell 869,565 units, each unit consisting of one of the Company's common shares and a warrant to purchase 1.2 common shares, for gross proceeds of approximately $3 million, before deducting placement agent fees and estimated offering expenses, in a "registered direct" offering with a single institutional investor. The investor has agreed to purchase the units at a purchase price of $3.45 per unit. The warrants, which represent the right to acquire an aggregate of up to 1,043,478 common shares, will be exercisable at any time on or after the closing of the transaction and prior to the fifth anniversary of the closing of the transaction at an exercise price of $3.99 per share, which was 110% of the closing bid price of the Company's common shares on the Nasdaq Capital Market on June 9, 2009. The transaction is expected to close on or about June 15, 2009, subject to the satisfaction of customary closing conditions.

(Logo: http://www.newscom.com/cgi-bin/prnh/20081118/NY46990LOGO )

Piper Jaffray & Co. acted as sole placement agent for the offering.

The Company is offering the securities in this transaction pursuant to an effective shelf registration statement and a registration statement filed pursuant to Rule 462(b) promulgated under the Securities Act of 1933, as amended. The offering is being made only by means of a prospectus supplement. Copies of the final prospectus supplement and accompanying base prospectus relating to this offering may be obtained at the SEC's website at http://www.sec.gov or from Piper Jaffray & Co. at 800 Nicollet Mall, Suite 800, Minneapolis, MN 55402.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sales of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About Delcath Systems, Inc.

Delcath Systems, Inc. is a medical technology company specializing in cancer treatment. The Company is testing a proprietary, patented drug delivery system for the treatment of liver cancers. Delcath's novel drug delivery platform is testing the delivery of ultra-high doses of anti-cancer drugs to the liver while preventing these high doses of drug from entering the patient's bloodstream. The Company is currently enrolling patients in Phase III and Phase II clinical studies for the treatment of liver cancers using high doses of melphalan. The Company's intellectual property portfolio consists of twenty-seven patents on a worldwide basis including the U.S., Europe, Asia and Canada. For more information, please visit the Company's website at www.delcath.com.

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 Phase III 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.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Delcath Adds University of Pittsburgh Medical Center to Phase III Trial
2. Jonathan Lewis, M.D., Ph.D. Steps Down From Delcath Systems Board of Directors
3. Delcath Adds Senior Pharmaceutical Professional to Its Board of Directors
4. Enrollment in Delcaths Pivotal Phase III Metastatic Melanoma Clinical Trial Reaches Halfway Point
5. Eric D. Whitman, MD to Present on the Delcath PHP System(TM) at the 7th World Congress on Melanoma
6. Delcath Systems Granted Third Orphan Drug Designation
7. Cepheid Enters Into Five-Year Agreement With Northrop Grumman for the Purchase of Anthrax Test Cartridges for Use in United States Postal Service Biohazard Detection Systems
8. Human Pheromone Sciences Enters Into Agreement to Reposition and Promote its Natural Attraction(R) Brand
9. Isis Enters Broad Collaboration With Ortho-McNeil, Inc. for the Discovery, Development and Commercialization of Antisense Drugs to Treat Metabolic Diseases
10. Carrington Subsidiary DelSite Biotechnologies Enters into Technology Evaluation Rights License Agreement for Transdermal Delivery of Vaccines
11. Cepheid Enters Agreement To Exclusively License HPV Portfolio Developed by Quantovir AB
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/19/2017)... ... ... Biopharma ’s CEO and founder, Dr. Bob Harman DVM, MPVM, is featured in an interview ... Rising Tide". Dr. Harman and Dr. Riordan met in 2003 and have remained in ... of stem cell therapy and a fast friendship was formed. , Dr. Harman has been ...
(Date:9/19/2017)... , Sept. 19, 2017 ValGenesis Inc., ... (VLMS) is pleased to announce the strategic partnership with ... provide clients with validation services using the latest technology ... VTI will provide clients with efficient and cost-effective validation ... marketing partner for the ValGenesis VLMS system. ...
(Date:9/19/2017)... ... September 19, 2017 , ... ... Financial Services (NYS DFS) cybersecurity regulations have transitioned into full force ... organizations operating in the state (“Covered Entities”) to conduct an annual, professional, ...
(Date:9/18/2017)... ... September 18, 2017 , ... Scholarly publisher ... the SPIE Digital Library ( http://www.spiedigitallibrary.org ) on 15 August to a new ... user experience and incorporate a number of enhancements and new features, the website ...
Breaking Biology Technology:
(Date:6/14/2017)... , June 15, 2017  IBM (NYSE: IBM ) ... international tech event dedicated to developing collaboration between startups and ... on June 15-17. During the event, nine startups will showcase ... value in various industries. France ... the international market, with a 30 percent increase in the ...
(Date:5/16/2017)...   Bridge Patient Portal , an enterprise ... EMR Systems , an electronic medical record solutions ... established a partnership to build an interface between ... Centricity™ products, including Centricity Practice Solution (CPS), Centricity ... new integrations will allow healthcare delivery networks using ...
(Date:4/19/2017)... New York , April 19, 2017 ... competitive, as its vendor landscape is marked by the ... the market is however held by five major players ... Safran. Together these companies accounted for nearly 61% of ... of the leading companies in the global military biometrics ...
Breaking Biology News(10 mins):