Delcath Systems, Inc. secured $16.3 million in funding through the exercise of Series E and E1 warrants, with a small percentage exercised through cashless provisions. These warrants, originally issued in 2019 as part of a private placement, had a $10.00 exercise price and were set to expire in 2024. This influx of capital bolsters Delcath’s financial position as it continues to commercialize HEPZATO, its liver-directed chemotherapy treatment.
This funding is crucial for Delcath as it validates investor confidence in the company’s trajectory and provides the necessary resources to advance its clinical development plan. The timing is particularly significant, aligning with the growing commercial adoption of HEPZATO for the treatment of metastatic uveal melanoma (mUM). This financial boost enables Delcath to invest further in research and development, potentially expanding HEPZATO’s applications to other liver cancers and solidifying its position in the interventional oncology market.
The $16.3 million injection significantly strengthens Delcath’s financial outlook, supplementing existing cash reserves and anticipated revenue growth from HEPZATO sales. This financial stability enables the company to execute its commercialization strategy for HEPZATO, invest in new clinical trials, and potentially expand the treatment’s applications to other liver cancers.
This funding round marks a pivotal moment for Delcath, providing the financial runway to advance HEPZATO’s market presence and explore new therapeutic avenues. It reinforces the company’s commitment to innovation in liver cancer treatment and positions it for continued growth and development in the interventional oncology field. The successful execution of their clinical development plan could lead to broadened indications for HEPZATO, potentially impacting a larger patient population and further solidifying Delcath’s position in the market.
Jon Napitupulu is Director of Media Relations at The Clinical Trial Vanguard. Jon, a computer data scientist, focuses on the latest clinical trial industry news and trends.
