Delcath Systems, Inc. (DCTH)

Healthcare
|
Long
  • A unique FDA-approved system of liver-directed treatment for adult patients with uveal melanoma: known as the Hepzato Kit in the U.S. and Chemosat in Europe, the Delcath System’s system uses Percutaneous Hepatic Perfusion (PHP)—a minimally invasive technique that delivers chemotherapy directly to the liver. This targeted approach allows for higher drug concentrations while minimizing systemic side effects compared to conventional chemotherapy.
  • Significant total addressable market and near-term profitability: the PHP therapy is projected to treat 240 patients annually in the US, representing a significant revenue opportunity, with profitability anticipated by Q4 2024
  • Investment thesis: the treatment’s slower uptake compared to pill-based therapies may likely result in compelling entry points through 2024 and 2025.