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Sep 30, 2024
Delcath Q3 2024 Earnings Report
Reported third quarter results with revenue increase and strategic advancements.
Key Takeaways
Delcath Systems reported a strong third quarter with a 44% increase in revenue compared to the prior quarter, driven by HEPZATO KIT sales. The company is focusing on expanding its development pipeline and reported a solid financial position with a strong balance sheet and consistent revenue growth, putting them on the cusp of profitability.
Total third quarter revenues reached $11.2 million, a 44% increase from the prior quarter, with $10.0 million from HEPZATO KIT and $1.2 million from CHEMOSAT.
Activated four HEPZATO treatment centers in the U.S. during the third quarter and one more in October, bringing the total to twelve active centers.
CHOPIN study, evaluating immunotherapy sequencing with CHEMOSAT, is now fully enrolled with 76 patients.
Ended the third quarter with $14.0 million in cash and investments, with a quarterly cash burn of $3.6 million.
Forward Guidance
Delcath is positioning itself for future growth based on HEPZATO's market adoption and is planning to expand its development pipeline, with programs for liver dominant colorectal and breast cancers.
Positive Outlook
- Strong balance sheet.
- Consistent revenue growth.
- Advancing programs for HEPZATO in liver dominant colorectal and breast cancers.
- No outstanding debt obligations.
- Broad interest from oncology leaders.
Historical Earnings Impact
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