DELCATH SYSTEMS INC

For the period ended Mar 31, 2024. Filed May 14, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 14, 2024

DCTH$20.27+35.8%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 1. Financial Statements

Condensed Consolidated Balance Sheets

(in thousands, except share and per share data)

	March 31,2024	December 31,2023
Assets
Current assets
Cash and cash equivalents	$11,760	$12,646
Restricted cash	50	50
Short-term investments	15,360	19,808
Accounts receivable, net	1,564	241
Inventory	3,634	3,322
Prepaid expenses and other current assets	1,278	1,091
Total current assets	33,646	37,158
Property, plant and equipment, net	1,336	1,352
Right-of-use assets	1,117	103
Total assets	$36,099	$38,613
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable	$1,487	$1,012
Accrued expenses	4,395	5,249
Lease liabilities, current	102	37
Loan payable	2,408	5,239
Convertible notes payable	4,949	4,911
Total current liabilities	13,341	16,448
Warrant liability	6,160	5,548
Lease Liabilities, non-current	1,016	—
Other liabilities, non-current	962	840
Total liabilities	21,479	22,836
Commitments and contingencies (see Note 15)
Stockholders’ equity
Preferred stock, $0.01 par value; 10,000,000 shares authorized; 16,809 and 24,819 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively	—	—
Common stock, $0.01 par value; 80,000,000 shares authorized; 25,439,319 shares and 22,761,554 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively	254	228
Additional paid-in capital	530,482	520,576
Accumulated deficit	(516,273)	(505,162)
Accumulated other comprehensive loss	157	135
Total stockholders’ equity	14,620	15,777
Total liabilities and stockholders’ equity	$36,099	$38,613

Condensed Consolidated Statements of Operations and Comprehensive Loss

(in thousands, except share and per share data)

	Three months ended March 31,
	2024	2023
Product revenue	$3,139	$597
Other revenue	—	—
Total revenues	3,139	597
Cost of goods sold	(903)	(181)
Gross profit	2,236	416
Operating expenses:
Research and development expenses	3,700	4,576
Selling, general and administrative expenses	8,814	4,165
Total operating expenses	12,514	8,741
Operating loss	(10,278)	(8,325)
Change in fair value of warrant liability	(612)	—
Interest expense, net	(199)	(688)
Other (expense) income	(22)	13
Net loss	(11,111)	(9,000)
Other comprehensive (loss) income:
Unrealized gain on investments	8	—
Foreign currency translation adjustments	14	19
Total comprehensive loss	$(11,089)	$(8,981)
Common share data:
Basic and diluted loss per common share	$(0.45)	$(0.77)
Weighted average number of basic and diluted shares outstanding	24,887,180	11,622,384

Condensed Consolidated Statements of Stockholders’ Equity (Deficit)

(in thousands, except share data)

	Three Months ended March 31, 2024
Preferred Stock$0.01 Par Value · Common Stock$0.01 Par Value · AdditionalPaidin Capital · AccumulatedDeficit · AccumulatedOtherComprehensiveIncome (Loss) · Total
No. ofShares · Amount · No. ofShares · Amount
Balance at January 1, 2024	24,819	$—		22,761,554		$228		$520,576		$(505,162)		$135	$15,777
Compensation expense for issuance of stock options	—	—		—		—		2,895		—		—	2,895
Compensation expense for Employee Stock Purchase Plan	—	—	—		—		50	—	—		50
Private placement -issuance of common shares, net of expenses	—	—		876,627		8		6,904		—		—	6,912
Issuance of common stock with the employee stock purchase plan	—	—		21,140		—		74		—		—	74
Conversion - Preferred to Common F-3	(8,010)	—	1,779,998		18		(17)	—	—		1
Net loss	—	—		—		—		—		(11,111)		—	(11,111)
Unrealized gain on investments	—	—	—		—		—	—	8		8
Foreign currency translation adjustments	—	—		—		—		—		—		14	14
Balance at March 31, 2024	16,809	$—		25,439,319		$254		$530,482		$(516,273)		$157	$14,620

	Three Months ended March 31, 2023
Preferred Stock$0.01 Par Value · Common Stock$0.01 Par Value · AdditionalPaidin Capital · AccumulatedDeficit · AccumulatedOtherComprehensiveIncome (Loss) · Total
No. ofShares · Amount · No. ofShares · Amount
Balance at January 1, 2023	11,357	$—	10,046,571	$100	$451,607	$(457,483)	$(83)	$(5,859)
Compensation expense for issuance of stock options	—	—	—	—	1,661	—	—	1,661
Private placement -issuance of common shares, net of expenses	—	—	19,646	1	55	—	—	56
Issuance of common stock with the employee stock purchase plan	—	—	15,417	—	47	—	—	47
Net loss	—	$—	—	$—	$—	$(9,000)	$—	$(9,000)
Foreign currency translation adjustments	—	—	—	—	—	—	19	19
Balance at March 31, 2023	11,357	$—	10,081,634	$101	$453,370	$(466,483)	$(64)	$(13,076)

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.