After raking in $33.8 million, Delcath Systems Inc. (NSDQ:DCTH) closed its public offering of 5.2 million shares.
According to a Securities & Exchange Commission filing, the New York-based company plans to use the proceeds from the sale to fund "clinical trials, research & development, obtaining regulatory approvals, manufacturing, operations, sales, commercialization of its products and other general corporate purposes including capital expenditures and working capital."
Delcath is developing a chemotherapy procedure to deliver high doses of melphalan hydrochloride to the liver to treat ocular and cutaneous metastatic melanoma, two forms of liver cancer.
