Delcath Systems (DCTH) has announced its preliminary revenue for the third quarter, totaling $11.2 million. This figure includes $10.0 million in revenue from the U.S. commercialization of HEPZATO KIT. The recognition of this U.S. revenue has activated the exercise of Tranche B warrants, which were issued as part of an earlier announced Private Investment in Public Equity (PIPE) agreement. Holders of these Tranche B warrants now have a 21-day period to exercise their options to purchase common stock at a price of $6.00 per share, allowing for a total potential investment of approximately $25 million.
Gerard Michel, the company's CEO, stated: "The additional $25 million in financing will be instrumental in supporting our ongoing commercial launch efforts and will fund new clinical trials aimed at expanding our indications, which we plan to initiate in 2025."
