Delcath Systems (DCTH) 5 Aug 24 2024 Q2 Earnings call transcript
In a recent earnings call, Delcath Systems, a leader in advanced therapies for treating liver-dominant cancers, provided insightful updates on their commercial progress and strategic plans for the future. The call, led by Gerard Michel, CEO, and Sandra Pennell, Senior Vice President of Finance, offered a comprehensive overview of the company's financials, commercial activities, and medical updates.
Financial Highlights and Revenue Growth
Delcath reported a total revenue of $7.8 million for the second quarter of 2024, with $6.6 million in U.S. revenue from HEPZATO and $1.2 million in European revenue for CHEMOSAT. The revenue growth is attributed to the key drivers of center activation and the average number of treatments per center.
Center Activation and Treatment Rates
The company is currently activating centers at a steady pace, with 8 active sites as of August 2024, compared to 7 in the previous quarter. The average treatment rate per center is well above the projected 1.5 to 2 treatments per month for the remainder of the year, indicating a promising outlook for the company's revenue growth.
Clinical Updates and Future Trials
Delcath is also making significant strides in clinical trials, with the ongoing CHOPIN trial evaluating the effectiveness of HEPZATO in combination with immunotherapy. The company is planning to initiate additional clinical studies in other indications in the coming months, further solidifying their position as a pioneer in liver-dominant cancer treatments.
Strategic Investments and Expansion
With a focus on managing the European market on a breakeven basis, Delcath is investing in trials and publications to support the adoption of their therapies in both the U.S. and Europe. The recent grant of New Technology Add-on Payment (NTAP) status for HEPZATO in the U.S. is a significant achievement, indicating the innovative nature of the therapy and its potential to make a real difference for patients.
Looking Ahead
Delcath Systems is poised for continued growth and innovation, with plans to expand their commercial activities and invest in new clinical trials. The company's commitment to improving patient outcomes and advancing the field of liver-dominant cancer treatments is evident in their strategic investments and commercial success.
The earnings call provided a clear picture of Delcath's financial health and strategic direction, offering investors and stakeholders confidence in the company's ability to deliver innovative treatments and drive growth in the field of oncology. With a focus on center activation, revenue growth, and clinical trials, Delcath Systems is well on its way to transforming the landscape of liver-dominant cancer treatments.