August 17, 2010 (FinancialWire) — Delcath Systems, Inc. (NASDAQ: DCTH) said that it is selling 5.185 million shares of its common stock, with Canaccord Genuity acting as the sole bookrunner.  

The company said it expects to use the net proceeds from the sale of the shares for funding of its clinical trials, research and development, obtaining regulatory approvals, manufacturing, operations, sales, commercialization of its products and other general corporate purposes, including capital expenditures and working capital.

Delcath said that the offering is scheduled to close on or about August 20. In addition, the company has granted the underwriter a 30-day option to purchase up to an additional 777,750 shares of common stock to cover over-allotments, if any.

New York-based Delcath Systems is a development stage, specialty pharmaceutical and medical device company focused on oncology.

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