NEW
YORK, May 3, 2024 /PRNewswire/ -- Delcath
Systems, Inc. (Nasdaq: DCTH) (the "Company" or "Delcath"), an
interventional oncology company focused on the treatment of primary
and metastatic cancers of the liver, announces that the Company
granted equity awards, previously approved by the Company's
Compensation Committee, as a material inducement to the employment
of two individuals whose employment commenced in April 2024.
The grants totaled the right to purchase an aggregate of 33,000
shares of the Company's common stock and is subject to the terms
and conditions of the Company's 2023 Inducement Plan ("Plan"). The
options were granted on April 30,
2024, the date the Compensation Committee approved the stock
option included within the equity inducement and are subject to an
exercise price equal to $5.20, the
closing price of Delcath's common stock on April 30, 2024 (as the Nasdaq market was closed
on the grant date). One-third of the options will vest on the first
anniversary of the grant date with the remaining two-thirds of the
options vesting in equal monthly installments over the following
twenty-four months. The option has a ten-year term and the vesting
of the options is subject to the employee's continued employment
with Delcath on each vesting date.
The above-described awards were each granted in accordance with
Nasdaq Listing Rule 5635(c)(4), and were granted pursuant to the
terms of the Plan.
About Delcath Systems, Inc.
Delcath Systems, Inc. is an interventional oncology company
focused on the treatment of primary and metastatic liver cancers.
The Company's proprietary products, HEPZATO KIT™ (melphalan for
Injection/Hepatic Delivery System), approved for use in
the United States by the Food and
Drug Administration, and CHEMOSAT Hepatic Delivery System for
Melphalan percutaneous hepatic perfusion (PHP), designated under
the medical device regulation for use in Europe and the United Kingdom, are designed to administer
high-dose chemotherapy to the liver while controlling systemic
exposure and associated side effects during a PHP procedure. For
more information regarding HEPZATO KIT and its use, including
Important Safety Information and Boxed Warning, please visit
HEPZATOKIT.com. For more information regarding CHEMOSAT and
its use, please visit Chemosat.com.
Contact:
Investor Relations Contact:
Ben Shamsian Lytham Partners
646-829-9701
shamsian@lythampartners.com
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SOURCE Delcath Systems, Inc.