NEW
YORK, Dec. 16, 2022 /PRNewswire/ -- Delcath
Systems, Inc. (Nasdaq: DCTH), an interventional oncology company
focused on the treatment of primary and metastatic cancers of the
liver, today announced that the Company granted an equity award,
previously approved by the Company's Compensation Committee, as a
material inducement to employment for one individual.
The employee received a total of 12,500 shares of the Company's
common stock, outside of the Company's Amended and Restated 2020
Stock Incentive Plan ("Plan"). The options were issued upon the
employee's grant date ("Grant Date"), and all stock options
included within the equity inducement award have an exercise price
equal to the closing price of Delcath common stock on the
Grant Date with a ten-year term. One-third of the options
will vest on the first anniversary of the Grant Date with the
remaining two-thirds of the options vesting in equal monthly
installments over the following twenty-four months.
The above-described award was granted in accordance with NASDAQ
Listing Rule 5635(c)(4), and pursuant to the terms of the Plan. The
Plan was adopted by Delcath's Board of Directors in October
2020 and has been amended and restated from time to time.
About Delcath Systems, Inc.
Delcath Systems, Inc. is an interventional oncology company
focused on the treatment of primary and metastatic liver cancers.
The Company's proprietary percutaneous hepatic perfusion (PHP)
system is designed to administer high-dose chemotherapy to the
liver while controlling systemic exposure and associated side
effects. In the United States, the
PHP system is being developed under the tradename
HEPZATOTM KIT (melphalan hydrochloride for
injection/hepatic delivery system), or HEPZATO, for the treatment
of patients with unresectable hepatic-dominant metastatic ocular
melanoma (mOM), also known as metastatic uveal melanoma (mUM) and
is considered a combination drug and device product regulated by
the United States Food and Drug Administration (FDA).
In Europe, the PHP system is
now regulated as a Class lll medical device and is approved for
sale under the trade name CHEMOSAT Hepatic Delivery System for
Melphalan, or CHEMOSAT, where it has been used at major medical
centers to treat a wide range of cancers of the liver.
Investor Relations Contact:
Ben Shamsian
Lytham Partners
646-829-9701
shamsian@lythampartners.com
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SOURCE Delcath Systems, Inc.