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Midas Edge

DELCATH SYSTEMS INC

For the period ended Jun 30, 2024. Filed Aug 5, 2024.

View on SEC.gov

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.

Jun 30, 2024 · Filed Aug 5, 2024

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

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

See the whole filing, with its images and exhibits
Contents

Item 1. Financial Statements

Condensed Consolidated Balance Sheets

(in thousands, except share and per share data)

June 30,2024December 31,2023
Assets
Current assets
Cash and cash equivalents$14,782$12,646
Restricted cash—50
Short-term investments5,12419,808
Accounts receivable, net3,726241
Inventory6,3163,322
Prepaid expenses and other current assets1,4511,091
Total current assets31,39937,158
Property, plant and equipment, net1,4221,352
Right-of-use assets1,092103
Total assets$33,913$38,613
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable$3,279$1,012
Accrued expenses4,4185,249
Lease liabilities, current10337
Loan payable—5,239
Convertible notes payable4,4914,911
Total current liabilities12,29116,448
Warrant liability15,8095,548
Lease Liabilities, non-current989—
Other liabilities, non-current632840
Total liabilities29,72122,836
Commitments and contingencies (see Note 14)
Stockholders’ equity
Preferred stock, $0.01 par value; 10,000,000 shares authorized; 12,342 and 24,819 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively——
Common stock, $0.01 par value; 80,000,000 shares authorized; 27,931,393 shares and 22,761,554 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively279228
Additional paid-in capital533,919520,576
Accumulated deficit(530,014)(505,162)
Accumulated other comprehensive loss8135
Total stockholders’ equity4,19215,777
Total liabilities and stockholders’ equity$33,913$38,613

Condensed Consolidated Statements of Operations and Comprehensive Loss

(in thousands, except share and per share data)

Three months ended June 30,Six months ended June 30,
2024202320242023
Product revenue$7,766$495$10,905$1,092
Total revenues7,76649510,9051,092
Cost of goods sold(1,519)(150)(2,422)(331)
Gross profit6,2473458,483761
Operating expenses:
Research and development expenses3,3943,5557,0948,131
Selling, general and administrative expenses6,7654,78715,5798,952
Total operating expenses10,1598,34222,67317,083
Operating loss(3,912)(7,997)(14,190)(16,322)
Change in fair value of warrant liability(9,755)1,160(10,367)1,160
Interest expense, net(84)(371)(283)(1,059)
Other (expense) income106(12)$19
Net loss(13,741)(7,202)(24,852)(16,202)
Other comprehensive (loss) income:
Unrealized gain (loss) on investments(141)—(133)—
Foreign currency translation adjustments(8)—619
Total comprehensive loss$(13,890)$(7,202)$(24,979)$(16,183)
Common share data:
Basic and diluted loss per common share$(0.48)$(0.58)$(0.93)$(1.35)
Weighted average number of basic and diluted shares outstanding28,364,73112,463,66526,625,95512,035,738

Condensed Consolidated Statements of Stockholders’ Equity (Deficit)

(in thousands, except share data)

Preferred Stock$0.01 Par Value · Common Stock$0.01 Par Value · AdditionalPaidin Capital · AccumulatedDeficit · AccumulatedOtherComprehensiveIncome (Loss) · Total
No. ofShares · Amount · No. ofShares · Amount
Balance at January 1, 202424,819$—22,761,554$228$520,576$(505,162)$135$15,777
Compensation expense for issuance of stock options————2,895——2,895
Compensation expense for Employee Stock Purchase Plan————50——50
Private placement -issuance of common shares, net of expenses——876,62786,904——6,912
Issuance of common stock with the employee stock purchase plan——21,140—74——74
Conversion - F-3 Preferred to Common(8,010)—1,779,99818(17)——1
Net loss—————(11,111)—(11,111)
Unrealized gain on investments——————88
Foreign currency translation adjustments——————1414
Balance at March 31, 202416,809$—25,439,319$254$530,482$(516,273)$157$14,620
Compensation expense for issuance of stock options————3,021——3,021
Compensation expense for Employee Stock Purchase Plan————48——48
Prior quarter private placement - expenses————(141)——(141)
Warrant exercise and conversion - F-4 Preferred to Common——41,666—355——355
Conversion - F-3 Preferred to Common(3,010)—668,8887(7)———
Conversion - F-2 Preferred to Common(1,457)—441,5144(4)———
Pre-funded warrant exercise——1,307,70613(3)——10
Stock option exercise——32,3001168——169
Net loss—————(13,741)—(13,741)
Unrealized loss on investments——————(141)(141)
Foreign currency translation adjustments——————(8)(8)
Balance at June 30, 202412,342—27,931,393279533,919(530,014)84,192
Preferred Stock$0.01 Par Value · Common Stock$0.01 Par Value · AdditionalPaidin Capital · AccumulatedDeficit · AccumulatedOtherComprehensiveIncome (Loss) · Total
No. ofShares · Amount · No. ofShares · Amount
Balance at January 1, 202311,357$—10,046,571$100$451,608$(457,484)$(83)$(5,859)
Compensation expense for issuance of stock options————1,661——1,661
Private placement -issuance of common shares, net of expenses——19,646155——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——————1919
Balance at March 31, 202311,357$—10,081,634$101$453,371$(466,484)$(64)$(13,076)
Compensation expense for issuance of stock options————1,661——1,661
Conversion of Preferred F-1 shares to common shares——4,629,5394711,222——11,269
Preferred F-2 Shares Issuance9,624———7,099——7,099
Pre-funded warrant exercise——538,8285———5
Issuance of common stock related to stock option exercises——468—2——2
Net loss—————(7,202)—(7,202)
Balance at June 30, 202320,981—15,250,469153473,355(473,686)(64)(242)
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.