Delcath Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
August 12 2024 - 4:01PM
Business Wire
Delcath Systems, Inc. (Nasdaq: DCTH) (“Delcath” or the
“Company”), an interventional oncology company focused on the
treatment of primary and metastatic cancers of the liver, announces
that the Company granted one equity award, previously approved by
the Company’s Compensation Committee, as a material inducement to
the employment of an individual whose employment commenced in July
2024.
The grant totaled the right to purchase an aggregate of 23,000
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 July 31, 2024, the date the Compensation
Committee approved the stock option included within the equity
inducement and are subject to an exercise price equal to $8.62, the
closing price of Delcath’s common stock on July 31, 2024. 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 award was granted in accordance with Nasdaq
Listing Rule 5635(c)(4), and was 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240812502182/en/
Investor Relations: ICR Westwicke
investorrelations@delcath.com
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