DELCATH SYSTEMS, INC.
Business
Delcath Systems is an interventional oncology company focused on treating primary and metastatic liver cancers. It offers HEPZATO KIT (melphalan/hepatic delivery system), FDA-approved in August 2023 for uveal melanoma with liver metastases, and CHEMOSAT, a device-only version marketed in Europe since 2012. The company operates a single reportable segment and distributes through cancer centers in the United States and Europe via direct sales and medical partnerships.
Summary from 10-K filed 2026-02-26
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Total revenue | 85 | 37 | 2 | 3 | 4 | |
| Cost of goods sold | −12 | −6 | −635,000 | −686,000 | −671,000 | |
| Gross profit | 73 | 31 | 1 | 2 | 3 | |
| Research and development expenses | 29 | 14 | 18 | 19 | 14 | |
| Selling, general and administrative expenses | 44 | 30 | 22 | 17 | 14 | |
| Total operating expenses | 73 | 43 | 40 | 36 | 27 | |
| Operating income (loss) | 660,000 | −12 | −38 | −34 | −25 | |
| Change in fair value of warrant liability | 0 | −14 | −8 | 0 | — | |
| Interest income, net | 3 | 125,000 | −1 | −3 | −1 | |
| Other expense | −70,000 | −30,000 | −59,000 | 30,000 | 68,000 | |
| Income before taxes | 4 | −26 | — | — | — | |
| Income tax expense | 810,000 | 0 | — | — | — | |
| Net income (loss) | 3 | −26 | −48 | −37 | −26 | |
| Unrealized gain on investment adjustments | 394,000 | −22,000 | — | — | — | |
| Foreign currency translation adjustments | 99,000 | −31,000 | — | — | — | |
| Total comprehensive income (loss) | 3 | −26 | −47 | −36 | −26 | |
| Basic income (loss) per common share (in dollars per share) | 0.08 | −0.93 | −2.94 | −4.12 | −3.59 | |
| Weighted average number of basic shares outstanding (in shares) | 36 | 29 | 16 | 9 | 7 | |
| Diluted income (loss) per common share (in dollars per share) | 0.07 | −0.93 | −2.94 | −4.12 | −3.59 | |
| Weighted average number of diluted shares outstanding (in shares) | 40 | 29 | 16 | 9 | 7 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 43 | 32 | 13 | 8 | 23 | |
| Short-term investments | 48 | 21 | 20 | 0 | — | |
| Accounts receivable | 12 | 11 | 241,000 | 366,000 | 44,000 | |
| Inventories | 10 | 7 | 3 | 2 | 1 | |
| Prepaid expenses and other current assets | 6 | 3 | 1 | 2 | 3 | |
| Total current assets | 120 | 74 | 37 | 16 | 31 | |
| Property, plant and equipment, net | 3 | 2 | 1 | 1 | 1 | |
| Right-of-use assets | 936,000 | 1 | 103,000 | 285,000 | 624,000 | |
| Total assets | 124 | 77 | 39 | 18 | 33 | |
| Accounts payable | 3 | 961,000 | 1 | 2 | 638,000 | |
| Accrued expenses | 8 | 5 | 5 | 5 | 4 | |
| Lease liabilities, current | 101,000 | 105,000 | 37,000 | 186,000 | 416,000 | |
| Total current liabilities | 11 | 6 | 16 | 15 | 6 | |
| Lease liabilities, non-current | 835,000 | 933,000 | 0 | — | 207,000 | |
| Other liabilities, non-current | 628,000 | 766,000 | 840,000 | 1 | 207,000 | |
| Total liabilities | 12 | 8 | 23 | 24 | 21 | |
| Commitments and contingencies (see Note 13) | — | — | — | — | 0 | |
| Preferred stock, $.01 par value; 10,000,000 shares authorized; 14,192 and 14,192 shares issued and outstanding at December 31, 2025 and 2024, respectively | 0 | 0 | 0 | 0 | — | |
| Common stock, $.01 par value; 80,000,000 shares authorized; 34,691,671 shares and 33,061,002 shares issued and outstanding at December 31, 2025 and 2024, respectively | 347,000 | 331,000 | 228,000 | 100,000 | 79,000 | |
| Additional paid-in capital | 639 | 600 | 521 | 452 | 433 | |
| Accumulated deficit | −529 | −532 | −505 | −457 | −421 | |
| Accumulated other comprehensive income | 575,000 | 82,000 | 135,000 | −83,000 | 18,000 | |
| Total stockholders equity | 111 | 69 | 16 | −6 | 12 | |
| Total liabilities and stockholders equity | 124 | 77 | 39 | 18 | 33 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Stock option compensation expense | 24 | 10 | 8 | 8 | 8 | |
| Depreciation expense | 200,000 | 100,000 | 100,000 | 100,000 | 146,000 | |
| Amortization of Right-of-Use Asset | 111,000 | 95,000 | 271,000 | — | — | |
| Amortization of debt discount | 0 | 460,000 | 776,000 | 768,000 | 323,000 | |
| Interest expense accrued related to convertible notes | 0 | 133,000 | 160,000 | 160,000 | 186,000 | |
| Interest paid related to convertible notes | 0 | −847,000 | 0 | — | — | |
| Amortization of premiums and discounts on marketable securities | −2 | −587,000 | −151,000 | 0 | — | |
| Prepaid expenses and other assets | −3 | −2 | 1 | 774,000 | 813,000 | |
| Accounts receivable | −854,000 | −11 | 125,000 | −322,000 | 13,000 | |
| Inventory | −3 | −4 | −1 | −587,000 | −557,000 | |
| Accounts payable and accrued expenses | 5 | 479,000 | −199,000 | 2 | −3 | |
| Other liabilities, non-current | −241,000 | −101,000 | −537,000 | 621,000 | −322,000 | |
| Net cash provided by (used in) operating activities | 23 | −19 | −31 | −25 | −23 | |
| Purchases of investments | −93 | −52 | −20 | 0 | — | |
| Maturities of investments | 68 | 52 | 0 | 0 | — | |
| Purchase of property, plant and equipment | −2 | −559,000 | −58,000 | −209,000 | −143,000 | |
| Net cash used in investing activities | −27 | −981,000 | −20 | −209,000 | −143,000 | |
| Net proceeds from private placement | 0 | 7 | 23 | 11 | 0 | |
| Proceeds from the issuance of common stock relating to the employee stock purchase plan | 481,000 | 250,000 | 123,000 | 0 | — | |
| Repayment of Debt | 0 | −11 | −6 | −714,000 | — | |
| Proceeds from the exercise of warrants | 16 | 41 | 35 | 0 | 2 | |
| Proceeds from the exercise of stock options | 4 | 2 | 4,000 | 0 | 4,000 | |
| Repurchase and retirement of common stock | −6 | 0 | — | — | — | |
| Net cash provided by financing activities | 15 | 39 | 52 | 10 | 21 | |
| Foreign currency effects on cash | 68,000 | −32,000 | 56,000 | −115,000 | 122,000 | |
| Net increase in total cash | 11 | 20 | 874,000 | −15 | −2 | |
| Interest paid | 0 | 1 | 1 | 2 | 681,000 | |
| Taxes paid | 2 | 0 | — | — | — | |
| Right of use assets obtained in exchange for lease obligations | 0 | 1 | 84,000 | 86,000 | 0 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is DELCATH SYSTEMS, INC.'s CIK number?
DELCATH SYSTEMS, INC.'s SEC CIK number is 0000872912 (872912). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find DELCATH SYSTEMS, INC.'s SEC filings?
All of DELCATH SYSTEMS, INC.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did DELCATH SYSTEMS, INC. last report earnings?
DELCATH SYSTEMS, INC. (DCTH) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001628280-26-031725). This is DELCATH SYSTEMS, INC.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is DELCATH SYSTEMS, INC.'s most recent earnings 8-K?
DELCATH SYSTEMS, INC.'s latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001628280-26-031725. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View DELCATH SYSTEMS, INC.'s latest earnings 8-K →
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