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Delcath Systems, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing reports a total revenue of $11.2 million for the quarter, primarily driven by the commercial launch of the HEPZATO KIT in the U.S. and increased demand for CHEMOSAT in Europe.
Cost of goods sold for the quarter was $1.64 million, resulting in a gross profit of $9.56 million.
Research and development expenses totaled $3.87 million, reflecting a decrease from the prior year due to reduced costs associated with NDA submission and expanded access program costs.
Selling, general, and administrative expenses increased to $6.95 million, attributed to commercial launch activities and additional personnel.
Delcath reported an operating loss of $1.26 million for the quarter, compared to a $10.56 million loss in the same period last year.
Interest and other income amounted to $3.12 million, influenced by changes in the fair value of warrant liabilities and interest income from marketable securities.
Net income for the quarter was $1.86 million, a significant improvement from a net loss of $20.34 million in the previous year.
As of September 30, 2024, Delcath had cash and cash equivalents of $8.3 million and short-term investments of $5.7 million, with a decrease in cash used for operating activities compared to the previous year.
The company highlights potential future capital needs, contingent on the activation of additional sites for HEPZATO and revenue generation.
Delcath's future liquidity and capital requirements will depend on various factors, including the commercialization of HEPZATO and CHEMOSAT, regulatory approvals, and competitive developments.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Delcath Systems Inc. quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.