Delcath Systems Stock Soars 90% In One Session - Here's Why
Portfolio Pulse from Vandana Singh
Delcath Systems Inc's stock soared by 90% following the FDA's approval of its HEPZATO KIT for liver-directed treatment in certain adult patients. The approval triggers the second tranche of financing tied to a previously announced PIPE financing, potentially bringing in $34.9 million in additional funding. Further, if the company records at least $10 million in quarterly U.S. revenue from the commercialization of HEPZATO KIT, it could receive up to an additional $24.9 million in funding.
August 15, 2023 | 6:25 pm
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Delcath Systems' stock price surged following the FDA approval of its HEPZATO KIT. The approval also triggers additional funding, strengthening the company's financial position.
The FDA approval of Delcath Systems' HEPZATO KIT has led to a significant increase in the company's stock price. Additionally, the approval triggers the second tranche of a previously announced PIPE financing, potentially bringing in significant additional funding. This strengthens the company's financial position and could lead to further stock price increases.
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