Delcath Systems Announces Extension of Warrants
17 December 2005 - 4:27AM
PR Newswire (US)
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 Company's
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 Company's 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. DATASOURCE: Delcath Systems,
Inc. CONTACT: Todd Fromer of KCSA Worldwide, +1-212-896-1215, , or
Michael Cimini, +1-212-896-1233, Web site: http://www.delcath.com/
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