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Delcath Systems Reports Substantial Progress
Date:11/19/2009

NEW YORK, Nov. 19 /PRNewswire-FirstCall/ -- Delcath Systems, Inc. (Nasdaq: DCTH), a medical technology company developing the Delcath Percutaneous Hepatic Perfusion (PHP(TM)) System, a minimally invasive drug delivery platform for the regional treatment of cancer metastatic to the liver, today reported on the Company's recent progress.

"Since we last communicated with our shareholders in late July, our team has achieved many significant milestones as we move into the first regulatory reviews for our PHP System and strive towards European commercialization in 2010," said Eamonn P. Hobbs, President & CEO. "Our most recent accomplishment is yesterday's closing of our common stock public offering, which raised more than $32.4 million and significantly improves our balance sheet. The successful offering met all of the key goals established by the Board of Directors and provides our company with the resources required to execute our regulatory approval and go-to-market strategies. We attracted several leading and internationally known institutional investors to the offering and we fully expect the transaction will shortly lead to new sell-side analyst coverage of the company," added Mr. Hobbs.

Other recent highlights include:

  • Active negotiations continue with several international entities to provide exclusive geographic market rights for the PHP System.
  • In early September, the Data and Safety Monitoring Board ("DSMB") reviewed clinical data on 77 patients enrolled in Delcath's pivotal Phase III clinical trial and unanimously recommended that the trial continue to enroll patients with the goal of reaching the 92 patients required to complete the study.
  • In October, the pivotal Phase III Metastatic Melanoma Trial met its goal of 92 patients and was fully enrolled. This clinical study is evaluati
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SOURCE Delcath Systems, Inc.
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2. Delcath Updates Phase III Patient Enrollment as Pivotal Trial Accelerates, Durable Tumor Responses In Phase II Study Also Cited
3. Delcath Expands Phase III Trial for Metastatic Melanoma to Include St. Lukes Cancer Center
4. Delcath Adds Dr. Pamela R. Contag to Its Board of Directors
5. Delcath Continues Expansion of Clinical Trial Centers Offering PHP(TM)
6. Enrollment in Delcaths Pivotal Phase III Metastatic Melanoma Clinical Trial Achieves Seventy-Five Percent Accrual
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11. Delcath Systems Announces Completion of Public Offering
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