• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Drug Delivery Business

  • Clinical Trials
  • Research & Development
  • Drug-Device Combinations
  • FDA
  • Pharmaceuticals
  • Policy

Cancer therapy device maker Delcath drops hard on inconclusive trial results

September 6, 2011 By drugdelivery

Delcath

Delcath Systems Inc. (NSDQ:DCTH) saw share prices drop 11 percent on news that its flagship cancer therapy device presented inconclusive results in treatment of colorectal cancer.

Sixteen patients with very late stage colorectal cancer participated in Delcath’s phase II study of its Chemosat focused chemotherapy delivery system, which uses a series of tubes to aim chemotherapy drugs at a specific organ and then filter the blood to remove the toxins before returning it to the body.

Sign up to get our free newsletters delivered right to your inbox.

"No significant responses were noted among these patients as they had been heavily pre-treated with numerous chemotherapeutic and regional modalities that, along with anatomical and disease-related factors in a few, prevented sufficient melphalan exposure," according to a press release.

The New York-based company also noted that the trial, conducted at the National Cancer Institute, was not designed for patients with such late-stage cancers, and that a new phase II trial should be conducted with a new colorectal patient population.

Check out our interview with Delcath president & CEO Eamonn Hobbs from June, 2011.

The study results, which were released Sept. 1, brought share prices down 11 percent by the end of the day to $3.68 from the prior day’s close at $4.14. Delcath stock has been quite a roller coaster over the past year, a volatility that CEO Eamonn Hobbs attributed to the demographics of the shareholder base.

"Delcath is an extremely volatile stock and there a number of components to that. One is that it’s a stock that’s shareholder based, that’s dominated by retail shareholders who tend to be much more active traders," Hobbs told MassDevice. "The trading volume is high and the volatility seems to be equally high. The stock seems to go up significantly on good news and down significantly on bad news — or no news."

Shares were trading at $3.69 this morning, a 3 percent drop from yesterday’s close at $3.81.

Chemosat won CE Mark approval in the European Union for treatment of liver cancer in April, Hobbs told MassDevice in June, but the device has suffered some regulatory hiccups on the way to FDA clearance.

"We expect to have regulatory approval in countries in Asia, South America, Central America and Canada, the Middle East and Africa starting in 2012," Hobbs said. "We should have regulatory approval in virtually all the countries by the end of 2013."

Filed Under: Drug-Device Combinations, Research & Development Tagged With: Clinical Trials, Delcath Systems Inc.

IN CASE YOU MISSED IT

  • BD, Mitsubishi Gas Chemical partner on better materials for plastic syringes
  • ApiJect picks up $111M investment from Royalty Pharma, Jefferies
  • FDA approves IND for Ananda Scientific’s PTSD treatment with liquid structure delivery tech
  • Medtronic’s Resolute Onyx drug-eluting stent demonstrates strong safety, efficacy
  • Jabil launches Qfinity reusable auto-injector

Primary Sidebar

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
Need Drug Delivery Business News in a minute? We Deliver!
Drug Delivery Enewsletters get you caught up on all the mission critical news you need in med tech. Sign up today.

Signup for the newsletter

Footer

Drug Delivery Business News Logo

MassDevice Medical NETWORK

MassDevice
DeviceTalks
Medical Tubing & Extrusion
Medical Design & Outsourcing
MedTech 100 Index
Drug Discovery & Development
Pharmaceutical Processing World
Medical Design Souring
R&D World

DRUG DELIVERY BUSINESS NEWS

Subscribe to Drug Delivery’s E-Newsletter
Advertise with us
About
Contact us
Privacy
Listen to our Weekly Podcasts
Add us on FacebookFollow us on TwitterConnect with us on LinkedIn

Copyright © 2022 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Advertise | Privacy Policy | RSS