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Delcath Announces Fiscal 2011 Third Quarter Results and Recent Developments
Date:11/7/2011

inancial 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.Contact Information:Investor Contact:

Media Contact:Doug Sherk/Gregory Gin

Janine McCargoEVC Group

EVC Group415-568-4887/646-445-4801

646-688-0425DELCATH SYSTEMS, INC.(A Development Stage Company)Condensed Consolidated Balance Sheets(Unaudited)September 30,2011December 31,2010Assets:Current assetsCash and cash equivalents$

40,962,993$

45,621,453Investments – Certificates of deposit3,735,0001,492,000Prepaid expenses and other assets1,028,9021,784,276Total current assets45,726,89548,897,729Property, plant and equipmentLand154,224-Furniture and fixtures2,067,289669,296Computers and equipment1,089,398548,586Leasehold improvements1,121,366939,5184,432,2772,157,400Less: accumulated depreciation(1,200,798)(477,420)Property, plant and equipment, net3,231,4791,679,980Total assets$

48,958,374$

50,577,709Liabilities and Stockholders' Equity:Current liabilitiesAccounts payable$

657,929$

610,457Accrued expenses4,377,2912,581,853Warrant liability3,140,99618,005,014Total current liabilities8,176,21621,197,324Deferred revenue300,000300,000Commitments and contingencies--Stockholders' equityPreferred stock, $.01 par value; 10,000,000 shares authorized; no shares issued and outstanding--Common stock, $.01 par value; 70,000,000 shares authorized; 48,232,774 and 43,028,146 shares issued and 47,993,732 and 42,932,460 outstanding at September 30, 2011 and December 31, 2010, respectively482,328430,281Additional paid-in capital171,762,8
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