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Delcath Systems Announces Completion of Public Offering
Date:11/18/2009

NEW YORK, Nov. 18 /PRNewswire-FirstCall/ -- Delcath Systems, Inc. (Nasdaq: DCTH) announced today the closing of its public offering of 9,775,000 shares of common stock priced to the public at $3.60 per share. The offering includes 1,275,000 shares sold upon exercise by the underwriters of their over-allotment option to purchase the additional shares. All of the shares in the offering were sold by Delcath Systems. Total net proceeds to the Company were $32.4 million.

Delcath Systems plans to use the proceeds from the offering for general corporate purposes including regulatory approvals, commercialization of its products, clinical trials, capital expenditures and working capital. With the completion of this offering, Delcath Systems now has a total of 36,194,997 shares of common stock outstanding.

Cowen and Company, LLC acted as the sole book-running manager on the offering. Canaccord Adams, Wedbush PacGrow Life Sciences and Craig-Hallum Capital Group acted as co-managers.

About Delcath Systems, Inc.

Delcath Systems, Inc. is developing an innovative drug delivery device designed to treat cancers of the liver. Delcath's drug delivery system provides regional therapy by isolating the circulatory system of the liver in order to directly deliver high doses of therapeutic agents, while controlling the systemic exposure of those agents.

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
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SOURCE Delcath Systems, Inc.
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