Delcath Systems rises on financing, NDA approval

Delcath Systems

27/03/2023 15:51

** Shares of medical device maker Delcath Systems Inc
 DCTH.O  up 22.3% at $5.92 in morning trade
    ** Announces FDA acceptance of NDA resubmission of Hepzato
Kit, with a PDFUA (Prescription Drug User Fee Act) date for
resubmission of Aug. 14
    ** Hepzato Kit is a drug-device combination product for
cancer treatment 
    ** Says has raised $85 million financing through security
purchase agreements
    ** Financing includes an upfront payment of $25 million,
along with an additional payment of $60 million tied to
satisfaction of milestones
    ** Expects financing to be sufficient to see co through
potential approval of Hepzato and its commercialization
    ** All 5 brokerages covering the stock rate it "buy" or
higher; their median PT is $19.00
    ** Up to last close, DCTH down 64.44% this year; lost 53.55%
in 2022 

 (Reporting By Akshita Toshniwal)
 ((Akshita.Toshniwal@thomsonreuters.com))