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Delcath Systems, Inc. Prices $30.6 Million Stock Offering
Date:11/12/2009

NEW YORK, Nov. 12 /PRNewswire-FirstCall/ -- Delcath Systems, Inc. (Nasdaq: DCTH) announced today 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, subject to customary closing conditions.

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. Canaccord Adams, Wedbush PacGrow Life Sciences and Craig-Hallum Capital Group are acting as co-managers.

Delcath has filed a registration statement, as well as a prospectus supplement and an accompanying prospectus, with the Securities and Exchange Commission (SEC) in connection with the offering. The prospectus supplement may be obtained by eligible investors from their Cowen and Company, LLC sales representative, or from the offices of Cowen and Company, LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department. Phone (631) 274-2806 / Fax (631) 254-7140. Before investing, consider the prospectus supplement and accompanying prospectus, the registration statement, and the other documents that the Company has filed with the Securities and Exchange Commission for more complete information about Delcath and this offering. Investors may also obtain these documents for free by visiting the SEC's website at www.sec.gov. '/>"/>

SOURCE Delcath Systems, Inc.
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