The following is a summary of the Delcath Systems Inc (DCTH) Q1 2024 Earnings Call Transcript:
Financial Performance:
Delcath Systems reported Q1 revenue of $3.1 million including $2 million from HEPZATO sales and $1.1 million from CHEMOSAT.
Achieved an effective gross margin of approximately 60% in the first quarter.
Reported research and development expenses decreased to $3.7 million compared to $4.7 million for the same period in 2023.
Selling, general, and administrative expenses increased to $8.8 million from $4.2 million.
The company ended the first quarter with cash investments totaling $27.2 million.
Business Progress:
Now reporting U.S revenue for the first time with six treatment centers actively providing commercial treatments.
Overall number of engaged centers increased to 30 and aims to have 20 active centers by the end of 2024.
Plans to initiate clinical trials of HEPZATO in other tumor types within a year.
Aims to achieve $10 million in quarterly revenue in the U.S in 2024, with European growth primarily driven by Germany.
Plans to open more treatment sites, promote patient referrals, and cater to half of the patient base with 25-35 centers.
Anticipating growth in patient referrals from oncologists in the next 6-12 months and seeks additional reimbursement from private payers.
Plans to hire a representative in the U.K in expectation of potential insurance reimbursements there.
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