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STAMFORD, Conn., Dec. 16 /PRNewswire-FirstCall/ -- Delcath Systems, Inc.
(Nasdaq: DCTH) announced today it has extended the redemption date for its
outstanding 2005 Redeemable Common Stock Purchase Warrants - Series A (Nasdaq:
DCTHZ). The extended redemption date is December 23, 2005, at which time all
necessary steps to exercise the warrants must be properly completed by
5:00 P.M., Eastern Time.
Delcath made the Notice of redemption on November 15, which was sent to
all brokerage firms holding the Warrants for their clients. The Company has
since received several calls from warrant holders, informing management that
some brokerage firms failed to notify them of the redemption offer in a timely
fashion prior to the deadlines. In light of this fact, Delcath has decided
to extend the redemption offer to allow these holders the opportunity to sell
or exercise those remaining Warrants. Because the Warrants are subject to a
redemption offer, any holders who elect not to exercise their warrants by the
expiration date will be entitled to receive $0.10 for each remaining Warrant
upon surrender of the Warrant to the transfer agent.
About Delcath Systems, Inc.
Delcath Systems is a developer of isolated perfusion technology for organ
or region-specific delivery of therapeutic agents. The Companys intellectual
property portfolio currently consists of 12 patents on a worldwide basis,
including the United States, Europe, Asia and Canada.
In May 2005, Delcath received fast-track status from the U.S. FDA for the
treatment of metastatic melanoma in the liver with melphalan, an approved
anticancer agent, using the Delcath system. For more information, please visit
the Companys website, http://www.delcath.com.
This release contains "forward-looking statements" based on current
expectations but involving known and unknown risks and uncertainties. Actual
results or achievements may be materially different from those expressed or
implied. Delcath plans and objectives are based on assumptions involving
judgments with respect to future economic, competitive and market conditions,
its ability to consummate, and the timing of, acquisitions and future business
decisions, all of which are difficult or impossible to predict accurately and
many of which are beyond its control. Therefore, there can be no assurance
than any forward-looking statement will prove to be accurate.
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