Delcath Gives Up Early Gains on Near-Term expectations for Chemosat

Delcath Systems (NASDAQ:DCTH) is trading with above-average volume for the second day in a row, but after gapping up 8% at the open, is giving up those gains and trades around $1.77, up 4% from yesterday’s close. The initial excitement Wednesday morning stemmed from a company press release that detailed European physician interest in the company’s only product, the Hepatic Chemosat chemotherapy delivery system. Already approved for use in the E.U., Chemosat isolates the liver for direct chemosaturation, thereby reducing the risk of systemic exposure to high levels of chemotherapy agents. The company filed an NDA for Chemosat in August, and a decision from the FDA should come sometime next year, although it is possible for an expedited decision if the product receives priority review.