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Dec 31, 2020
Delcath Q4 2020 Earnings Report
Delcath reported mixed Q4 2020 results with a decrease in product revenue but progress in clinical trials and strategic initiatives.
Key Takeaways
Delcath Systems, Inc. reported a decrease in product revenue for Q4 2020, with $379 thousand compared to $398 thousand in the prior year period. Despite the revenue decrease, the company highlighted positive preliminary results from the FOCUS Clinical Trial and strengthened its executive team. The company experienced a net loss of $7.0 million, compared to a net income of $12.5 million for the same period in 2019.
Delcath reported positive preliminary results from the FOCUS Clinical Trial for Hepatic Dominant Ocular Melanoma.
The company initiated a consulting engagement to select a portfolio of follow-on indications for the HEPZATO Kit and CHEMOSAT platform.
Delcath completed an underwritten public offering of common stock, yielding $22.2 million in gross proceeds.
Gerard Michel was appointed as Chief Executive Officer, and Kevin Muir as Vice President of Commercial Operations.
Revenue by Geographic Location
Forward Guidance
Delcath anticipates continued progress in 2021, preparing to file an NDA in early 2022 and expand the development of HEPZATO into additional areas of high unmet need.
Positive Outlook
- Preparing to file an NDA in early 2022
- Expanding the development of HEPZATO into additional areas of high unmet need
- Attracting new investors
- Strengthening the management team
- Suggesting a significant improvement in the benefit risk ratio versus an earlier generation of Delcath’s proprietary percutaneous hepatic perfusion system
Historical Earnings Impact
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Avg. Return Before/After Earnings
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