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Delcath Systems, Inc. (DCTH) Moving Headquarters to Queensbury, But Plans Job Cuts


4/10/2013 8:04:46 AM

Delcath Inc. is moving its headquarters to Queensbury, NY. The pharmaceutical and medical device manufacturer has been based in New York City, with the bulk of its operations in two locations in Warren County. Eamonn Hobbs, CEO of Delcath (Nasdaq: DCTH), said the change of address is part an efficiency plan designed to trim expenses as it awaits FDA approval to sell it liver chemotherapy system in the United States. That process was delayed this week, when the FDA said it needed another three months to complete its review. The cost-savings plan also will involve the elimination of 21 percent of the company’s workforce. As of Dec. 31, it employed 92 people, including 60 in Queensbury. A handful were let go in February.

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