Troubled Delcath Systems, Inc. Announces $7.5 Million Offering, Drops 23%

Published: Oct 24, 2013

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Amid a flurry of layoffs and restructuring after failed attempts to win FDA approval, New York device maker Delcath Systems aims for a $7.5 million funding round. New York's Delcath Systems (NSDQ:DCTH) is looking to raise about $7.5 million through sales of common stock, planning on using the funds for working capital, commercialization efforts, clinical trials and other "general corporate purposes." The news didn't sit well on Wall Street, where DCTH shares have lost about 23% since opening today.

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