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

47144,782,807Deficit accumulated during the development stage(131,671,714)(116,055,400)Treasury stock, at cost; 28,100 shares at September 30, 2011 and December 31, 2010(51,103)(51,103)Accumulated other comprehensive loss(40,200)(26,200)Total stockholders' equity40,482,15829,080,385Total liabilities and stockholders' equity$

48,958,374$

50,577,709DELCATH SYSTEMS, INC.(A Development Stage Company)Condensed Consolidated Statements of Operations and Comprehensive Income(Unaudited)Three Months EndedSeptember 30,Nine Months EndedSeptember 30,Cumulative from Inception(Aug 5, 1988)toSeptember 30,20112010201120102011Costs and expenses:General and administrative expenses(1)$

5,744,142$

3,165,414$

15,148,228$

9,413,709$

55,013,310Research and development costs(1)6,437,1864,256,04815,333,30611,800,26771,923,470   Total costs and expenses12,181,3287,421,46230,481,53421,213,976126,936,780Operating loss(12,181,328)(7,421,462)(30,481,534)(21,213,976)(126,936,780)Change in fair value of warrant liability, net3,871,727(2,111,543)14,864,018(10,164,567)(5,834,584)Interest income5372,9491,2026,8242,872,481Other income and interest expense----(274,226)Net loss(8,309,064)(9,530,056)(15,616,314)(31,371,719)(130,173,109)Other comprehensive income (loss)(3,000)(3,000)(14,000)(4,000)(40,200)Total comprehensive loss$

(8,312,064)$

(9,533,056)$

(15,630,314)$

(31,375,719)$

(130,213,309)Common share data:Basic and diluted loss per share$

(0.18)$

(0.24)$

(0.35)$

(0.83)Weighted average number of shares of common stock outstanding, basic and diluted46,961,12339,712,20744,315,83837,703,577Note 1:

Includes non-cash stock-based compensation as follows:Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2011201020112010Costs and expenses:General and administrative expenses$

525,250$

879,777$

2,185,473$

2,535,370Research and development cost
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SOURCE Delcath Systems, Inc.
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