Delcath Systems Inc (NAS:DCTH)
$ 14.66 -0.18 (-1.21%) Market Cap: 490.12 Mil Enterprise Value: 443.61 Mil PE Ratio: 0 PB Ratio: 7.05 GF Score: 72/100
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Q4 2024 Delcath Systems Inc Earnings Call Transcript

Mar 06, 2025 / 01:30PM GMT
Release Date Price: $13.2 (-1.71%)

Key Points

Positve
  • Delcath Systems Inc (DCTH) achieved $32.3 million in HEPZATO revenue in the US for 2024, with $13.7 million in the fourth quarter alone.
  • The company secured a permanent J-code and a new technology add-on payment (NTAP) for HEPZATO, enhancing reimbursement prospects.
  • Delcath Systems Inc (DCTH) ended 2024 with $53.2 million in cash and investments and no debt, providing financial stability for future growth.
  • The company achieved a positive adjusted EBITDA of $4.6 million in the fourth quarter, marking a significant financial milestone.
  • European CHEMOSAT volumes grew by 137% in 2024, with notable increases in Germany, the UK, and Turkey, supporting strategic growth in the region.
Negative
  • Incremental revenue from Europe remains modest due to pricing and reimbursement structures, limiting immediate financial impact.
  • The average treatment rate per site was slightly under two per month, indicating a slow ramp-up in utilization at new centers.
  • Research and development expenses remain high, with $13.9 million spent in 2024, impacting overall profitability.
  • The company anticipates a 30% to 40% increase in SG&A expenses in 2025, which could pressure margins.
  • Delcath Systems Inc (DCTH) faces challenges in expanding its referral network, as more centers are needed to reduce patient travel distances.
Operator

Greetings. Welcome to the Delcath Systems fourth quarter 2024 earnings conference call.

(Operator Instructions)

It is now my pleasure to introduce David Hoffman, Delcath's general counsel. Mr. Hoffman, you may begin.

David Hoffman
Delcath Systems Inc - Chief Compliance Officer, General Counsel, Corporate Secretary

Thank you and once again, welcome to Delcath Systems fourth quarter in full year 2024 earnings and Business highlights call. With me on the call are Gerard Michel, Chief Executive Officer, Sandra Pinnell, Chief Financial Officer, Kevin Muir, general manager, interventional oncology, Vojo Vukovic, Chief Medical Officer, and Martha Rook, Chief Operating Officer. I'd like to begin the call by reading the Safe Harbor statement. This statement is made pursuant to the safe harbor for forward-looking statements described in the Private Securities Litigation Reform Act of 1,995.

All statements made on this call, with the exception of historical facts, may be considered forward-looking statements within the meaning of Section 27a

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