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QUEENSBURY, N.Y. - Delcath Systems, Inc. (NASDAQ:DCTH), a specialized interventional oncology company with a market capitalization of $367 million, today announced its preliminary financial results for the fourth quarter and full year that ended on December 31, 2024. The company reported that its fourth-quarter revenue is expected to be around $15.1 million, with the full year's revenue totaling approximately $37.2 million. According to InvestingPro data, this represents a remarkable year-over-year revenue growth of 946% in the last twelve months.
The company's HEPZATO KIT™, a treatment for liver cancers, generated the majority of the revenue, with fourth-quarter sales anticipated to be about $13.7 million and year-end sales approximately $32.3 million. Revenue from CHEMOSAT®, another treatment offered by Delcath, is expected to be around $1.4 million for the fourth quarter and $4.9 million for the full year.
Delcath also reported that its gross margins for the period are projected to be between 80% and 85%. As of the end of 2024, the company's financial position included approximately $53.2 million in cash, cash equivalents, and short-term investments, with no outstanding debt.
The company emphasized that these figures are preliminary and unaudited, with final financial results for the fourth quarter and full year 2024 expected to be released during an investor call scheduled for March 6, 2025.
Delcath's HEPZATO KIT is a combination drug and device product approved by the FDA for use in the United States. It is designed to deliver high-dose chemotherapy to the liver while minimizing systemic exposure and side effects. The product is approved for the treatment of adult patients with metastatic uveal melanoma with certain conditions.
In Europe, Delcath's CHEMOSAT system is regulated as a Class III medical device and is used to treat a wide range of liver cancers.
The company has cautioned that these preliminary results are subject to change pending finalization of the financial statements, which includes potential adjustments from the audit process.
This press release contains forward-looking statements that involve risks and uncertainties, and actual results may differ from those projected. The company has identified various factors that could cause this, such as changes to preliminary results, commercialization plans, supply chain management, regulatory inspections, reimbursement, and purchase agreements.
The information in this article is based on a press release statement from Delcath Systems, Inc.
In other recent news, Delcath Systems Inc. has seen a surge in revenue, driven by strong sales of its HEPZATO kit. In the third quarter of 2024, the company reported a total revenue of $11.2 million, with HEPZATO sales contributing $10 million. This success triggered a $25 million financing boost from warrant exercises, leaving Delcath Systems in a strong financial position with $14 million in cash and no outstanding debt.
The company also secured $16.3 million from the exercise of Series E and E1 warrants, further bolstering its commercialization efforts and supporting its clinical development plans. Clear Street recently initiated a Buy rating on Delcath Systems, setting a price target of $22.00, aligning with a broader analyst consensus ranging from $18 to $25.
Delcath Systems is currently expanding its treatment centers and initiating new clinical trials for liver-dominant metastatic colorectal and breast cancers. The company operates 12 treatment centers at present, with a goal of having 30 centers by the end of 2025. As part of their future expectations, Delcath Systems is on track to reach cash flow break-even, supported by anticipated revenue growth. These are among the latest developments for Delcath Systems.
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