WASHINGTON (dpa-AFX) - Delcath Systems (DCTH) reported preliminary third quarter revenue of $11.2 million, which included the recording of $10.0 million in U.S. revenue from the commercialization of HEPZATO KIT. The recording of U.S. quarterly revenue from the commercialization of HEPZATO KIT effectively triggers the exercise of Tranche B warrants issued in the previously announced Private Investment in Public Equity. Holders of the Tranche B warrants from the PIPE have 21 days to exercise their Tranche B warrants to purchase shares of common stock at an effective price of $6.00 per share of common stock for an aggregate exercise price of up to approximately $25 million.
Gerard Michel, CEO, said: 'The company will utilize the additional $25 million of financing to support the ongoing commercial launch and invest in new clinical trials to expand indications which we plan to initiate in 2025.'
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