Delcath Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

DCTH 01.03.2025

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  • 01.13.2025 - Delcath Systems Announces Preliminary Fourth Quarter and Full Year 2024 Financial Results
  • 01.03.2025 - Delcath Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
  • 12.30.2024 - Delcath Systems Announces Additional $16.3 Million in Funding From Series E and E1 Warrant Exercises

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  • 01.13.2025 - 8-K Current report
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QUEENSBURY, N.Y.--(BUSINESS WIRE)--Jan. 3, 2025--Delcath Systems, Inc.(Nasdaq: DCTH) (the “Company” or “Delcath”), an interventional oncology company focused on the treatment of primary and metastatic cancers of the liver, announces that the Company granted an equity award, previously approved by the Company’s Compensation Committee, as a material inducement to the employment of an individual whose employment commenced onNovember 4, 2024.

The grant totaled the right to purchase 30,000 shares of the Company’s common stock and is subject to the terms and conditions of the Company’s 2023 Inducement Plan (“Plan”). The options were granted onDecember 31, 2024, the date the Compensation Committee approved the stock option included within the equity inducement and are subject to an exercise price equal to$12.04, the closing price of Delcath’s common stock onDecember 31, 2024. One-third of the options will vest on the first anniversary of the grant date with the remaining two-thirds of the options vesting in equal monthly installments over the following twenty-four months. The options have a ten-year term and the vesting of the options is subject to the employee’s continued employment withDelcathon each vesting date.

The above-described award was granted in accordance with Nasdaq Listing Rule 5635(c)(4) and granted pursuant to the terms of the Plan.

AboutDelcath Systems, Inc.Delcath Systems, Inc.is an interventional oncology company focused on the treatment of primary and metastatic liver cancers. The company’s proprietary products, HEPZATO KITTM (HEPZATO (melphalan) for Injection/Hepatic Delivery System) and CHEMOSAT®Hepatic Delivery System for Melphalan percutaneous hepatic perfusion (PHP), are designed to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects during a PHP procedure.

Inthe United States, HEPZATO KIT is considered a combination drug and device product and is regulated and approved for sale as a drug by the FDA. HEPZATO KIT is comprised of the chemotherapeutic drug melphalan andDelcath'sproprietary Hepatic Delivery System (HDS). The HDS is used to isolate the hepatic venous blood from the systemic circulation while simultaneously filtrating hepatic venous blood during melphalan infusion and washout. The use of the HDS results in loco-regional delivery of a relatively high melphalan dose, which can potentially induce a clinically meaningful tumor response with minimal hepatotoxicity and reduce systemic exposure. HEPZATO KIT is approved inthe United Statesas a liver-directed treatment for adult patients with metastatic uveal melanoma (mUM) with unresectable hepatic metastases affecting less than 50% of the liver and no extrahepatic disease, or extrahepatic disease limited to the bone, lymph nodes, subcutaneous tissues, or lung that is amenable to resection or radiation. Please see the full Prescribing Information, including BOXED WARNING for theHEPZATO KIT.

InEurope, the device-only configuration of the HDS is regulated as a Class III medical device and is approved for sale under the trade name CHEMOSAT Hepatic Delivery System for Melphalan, or CHEMOSAT, where it has been used in the conduct of percutaneous hepatic perfusion procedures at major medical centers to treat a wide range of cancers of the liver.

View source version onbusinesswire.com:https://www.businesswire.com/news/home/20250103371200/en/

Investor Relations:ICR Healthcareinvestorrelations@delcath.com

Source:Delcath Systems, Inc.

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