Delcath Systems Reports Strong Q3 Growth and Expands Interventional Oncology Reach

Delcath Systems Strengthens Position in Interventional Oncology with Robust Q3 Results

Delcath Systems, Inc., a company dedicated to advancing treatment options for liver cancer, announces substantial financial results and key developments for the third quarter of 2024. The company reports total revenues of $11.2 million, demonstrating a remarkable 44% increase from the previous quarter. This growth is primarily driven by the HEPZATO KIT™, which generated $10 million in revenue, alongside $1.2 million from the CHEMOSAT® therapy. This surge in sales highlights the increasing adoption of Delcath's innovative therapies in the fight against liver cancer, positioning the company as a significant player in the interventional oncology market.

During the quarter, Delcath expands its operational footprint by activating four new HEPZATO treatment centers in the United States, bringing the total number to twelve. One additional center is set to commence treatments shortly, further enhancing patient access to the HEPZATO therapy. The company remains committed to expanding its reach and improving treatment availability for patients battling liver cancer. Furthermore, Delcath announces the successful enrollment of 76 patients in its CHOPIN study, which investigates the potential benefits of combining immunotherapy with CHEMOSAT liver-directed therapy. This study represents a strategic move to explore synergistic treatment options that could enhance patient outcomes.

Financially, Delcath demonstrates prudent management by eliminating $2.8 million in debt related to the Rosalind note payable and raising approximately $25 million through the exercise of remaining Tranche B warrants from a previous private investment in public equity (PIPE) transaction. As of the end of the quarter, Delcath holds $14 million in cash and investments, with a reported cash burn of $3.6 million for the quarter. CEO Gerard Michel expresses optimism regarding the strong market reception of HEPZATO and the company’s potential for further growth, particularly for liver-dominant colorectal and breast cancers. The recent presentation of positive data from the FOCUS Phase 3 trial at ESMO 2024 underscores Delcath's commitment to clinical advancement and its ongoing research efforts to validate the efficacy of its therapies.

Beyond financial results, Delcath's recent clinical achievements highlight its dedication to innovation in oncology. Promising findings from a study conducted at Moffitt Cancer Center reveal the effectiveness of HEPZATO in treating metastatic uveal melanoma, adding to the therapy's expanding applications. As Delcath Systems continues to forge ahead in the interventional oncology landscape, the company is well-positioned to capitalize on its advancements and the growing demand for liver cancer treatments. With a strong operational foundation and a commitment to research, Delcath is poised for significant growth and impact in the oncology sector.