Investor Relations (IR) Questions: Delcath Systems DCTH
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Answers based on January 2013 telephone conversation
1) When is the last time DCTH raised cash through an offering (diluted)?
May 2012, the company raised approximately $23 million in gross proceeds.
2) How much cash (not cash equivalents) does DCTH have?
The company does not distinguish between cash and cash equivalents. As of Sept 30, 2012 the company reported $28.3 million in cash and cash equivalents. In addition to cash on hand, the company has access to capital through a $35 million equity financing facility and its At-the-Market facility. As of September 30, Delcath had $21 million available through the ATM. The company believes that its cash position and access to capital provide adequate funds for its operating needs through its PDUFA date in mid-June.
3) What and approximately when is the next known catalyst?
Below are 2 of the major near term catalysts. However, refer to slide 25 on company/investor presentation found on the company's website for detail on all catalysts.
A. The company expects reimbursement decisions in Europe (Germany and UK) in the first quarter. Reimbursement has already been approved in Italy.
B. The company plans on meeting with ODAC sometime in May, 2012.
C. PDUFA in mid-June.
4) What is DCTH's quarterly cash burn?
Use of cash during the third quarter was $14.6 million, which was primarily driven by NDA submission related costs and ongoing EU commercialization efforts. Delcath continues efforts to reduce operating costs and stated on its third quarter call that it is committed to reducing average monthly cash spend in the fourth quarter to between $3 million and $4 million, as a result of expected decrease in NDA related spend in the fourth quarter.
5) Does DCTH have an existing line of credit and if so how much can they draw against it?
The company has a $35 million equity line.
The company also has an ATM in place. The company reported that it had $21 million available to draw on the ATM in it's last 10Q .
1) When is the last time DCTH raised cash through an offering (diluted)?
May 2012, the company raised approximately $23 million in gross proceeds.
2) How much cash (not cash equivalents) does DCTH have?
The company does not distinguish between cash and cash equivalents. As of Sept 30, 2012 the company reported $28.3 million in cash and cash equivalents. In addition to cash on hand, the company has access to capital through a $35 million equity financing facility and its At-the-Market facility. As of September 30, Delcath had $21 million available through the ATM. The company believes that its cash position and access to capital provide adequate funds for its operating needs through its PDUFA date in mid-June.
3) What and approximately when is the next known catalyst?
Below are 2 of the major near term catalysts. However, refer to slide 25 on company/investor presentation found on the company's website for detail on all catalysts.
A. The company expects reimbursement decisions in Europe (Germany and UK) in the first quarter. Reimbursement has already been approved in Italy.
B. The company plans on meeting with ODAC sometime in May, 2012.
C. PDUFA in mid-June.
4) What is DCTH's quarterly cash burn?
Use of cash during the third quarter was $14.6 million, which was primarily driven by NDA submission related costs and ongoing EU commercialization efforts. Delcath continues efforts to reduce operating costs and stated on its third quarter call that it is committed to reducing average monthly cash spend in the fourth quarter to between $3 million and $4 million, as a result of expected decrease in NDA related spend in the fourth quarter.
5) Does DCTH have an existing line of credit and if so how much can they draw against it?
The company has a $35 million equity line.
The company also has an ATM in place. The company reported that it had $21 million available to draw on the ATM in it's last 10Q .