Delcath Systems (DCTH) IPO Opens at $12.75

Today's IPO for Delcath Systems (NASDAQ: DCTH) opened for trading at $12.75 after pricing 2.2 million shares of common stock at $10.

Delcath intends to use the net proceeds of the offering for working capital and general corporate purposes, including the continued development of Melphalan/HDS.

Roth Capital Partners acted as sole book-running manager for the offering. Aegis Capital Corp. and Laidlaw & Company (UK) Ltd. acted as co-lead managers for the offering.

Delcath Systems, Inc. is an interventional oncology company focused on the treatment of primary and metastatic liver cancers. Our investigational product – Melphalan Hydrochloride for Injection for use with the Delcath Hepatic Delivery System (Melphalan/HDS) – is designed to administer high-dose chemotherapy to the liver while minimizing systemic exposure and associated side effects. In addition to the FOCUS Trial, we have initiated a global Phase 3 clinical trial for intrahepatic cholangiocarcinoma (ICC) called The ALIGN Trial. Melphalan/HDS has not been approved by the U.S. Food & Drug Administration (FDA) for sale in the U.S. In Europe, our system is marketed under the trade name Delcath Hepatic CHEMOSAT® Delivery System for Melphalan (CHEMOSAT) and has been CE Marked and used at major medical centers to treat a wide range of cancers of the liver. CHEMOSAT is being marketed under an exclusive licensing agreement with medac GmbH, a privately held multi-national pharmaceutical company headquartered in Germany that specializes in the treatment and diagnosis of oncological, urological and autoimmune diseases.

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