24/7 Market News Snapshot 17 October, 2024 – Delcath Systems Inc (NASDAQ:DCTH)

October 17, 2024

DENVER, Colo., 17 October, 2024 (247marketnews.com) – (NASDAQ:DCTH) are discussed in this article.
Delcath Systems, Inc. has demonstrated a strong market presence with a notable opening at $10.20, reflecting an impressive increase of approximately 11.51% to a current trading price of $10.605. This upward trajectory is supported by a trading volume of 1.01 million shares, indicating heightened investor interest and suggesting a potential breakout for the company. Technical indicators may further reveal increasing relative strength and favorable moving averages, bolstering the optimistic market sentiment surrounding Delcath. Investors are advised to closely monitor forthcoming resistance levels and trading volume patterns to assess the sustainability of this growth trend.

In a significant development, Delcath has reported preliminary revenue results for the third quarter of 2024, achieving $11.2 million in total revenue, with $10.0 million originating from U.S. sales of its innovative product, the HEPZATO KIT. This substantial revenue achievement activates the exercise of Tranche B warrants under a recent Private Investment in Public Equity (PIPE), allowing warrant holders to exercise their rights within 21 days at an effective price of $6.00 per share, potentially raising an additional $25 million for strategic initiatives.

Gerard Michel, Chief Executive Officer of Delcath, highlighted the strong market demand for the HEPZATO KIT, emphasizing its critical role in addressing the significant unmet medical needs of patients with uveal melanoma that has metastasized to the liver. Looking ahead, the company intends to leverage the expected capital influx for continued commercial efforts and to fund upcoming clinical trials aimed at expanding the product’s indications, with plans to commence trials in 2025.

Delcath Systems is poised to further its leadership in interventional oncology, continuing to set new standards of care for patients dealing with complex liver cancers. The company plans to provide more comprehensive updates during its quarterly financial results release and investor call on November 8, 2024.

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