Support Bounce for Delcath Systems Inc (NASDAQ:DCTH) Shares

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Delcath Systems Inc (NASDAQ:DCTH) shares were up 3.48% to $0.0476 and unchanged in after-hours trading upon recently testing a support area. Share prices have been trading in a 52-week range of $0.04 to $6.85. The company has a market cap of $6.50 million at 155.19 million shares outstanding.

Delcath Systems Inc announced the financial results for the three months ended March 31, 2017. The company was able to achieve first quarter 2017 revenue of $0.74 million, which is a 100% increase compared to the same period last year. It also announced a Special Protocol Assessment with the US FDA for the design of a pivotal trial of Melphalan/HDS to treat patients with intrahepatic cholangiocarcinoma.

“During the first three months of 2017 we continued to advance our clinical development programs in ocular melanoma liver metastases and intrahepatic cholangiocarcinoma, while making steady progress with commercialization of CHEMOSAT in Europe,” said Jennifer K. Simpson, Ph.D., MSN, CRNP President and CEO of Delcath Systems Inc.

“In Europe, we continue to make steady progress with the commercialization of CHEMOSAT.  Our first quarter revenue of more than $0.7 million was double the prior year period’s sales, driven primarily by national reimbursement in Germany under the ZE system. With coverage under the ZE system now in place, we expect product sales growth from this market for the remainder of 2017. Elsewhere in Europe, we continue to focus on building the clinical and pharmacoeconomic data to support reimbursement applications in other key markets.  We expect that positive negotiations for coverage in Germany will support our efforts for payment levels in other markets such as the U.K. and the Netherlands. Securing reimbursement coverage in additional European markets remains critical to future revenue growth for CHEMOSAT,” concluded Dr. Simpson.

Delcath Systems Inc is a late-stage clinical development company with early commercial activity in Europe focused on cancers of the liver. It is a specialty pharmaceutical and medical device company developing its product, Melphalan Hydrochloride for Injection for use with the Delcath Hepatic Delivery System (Melphalan/HDS).

Its system delivers and filters melphalan hydrochloride, which is marketed as a device under the trade name Delcath Hepatic CHEMOSAT Delivery System for Melphalan (CHEMOSAT). The company’s focus is on the execution of the clinical development program (CDP) in ocular melanoma liver metastases (mOM), intrahepatic cholangiocarncinoma (ICC), hepatocellular carcinoma (HCC or primary liver) and other cancers that are metastatic to the liver.