Tuesday, January 3, 2012

Delcath Systems (DCTH) Pressured on Shares Sale Announcement

The announcement by Delcath Systems, Inc. (NASDAQ:DCTH) that they are going to sell up to $40 million in shares to Cowen & Co. pushed the company to close at $3.05 on Friday, a drop of 11.85 percent.

Delcath makes an experimental drug-dispensing system for the treatment of cancer.

The volatile shares traded from $1.85 to $11.88 in 2011.

In after hours trading the company fell another $0.05, to $3.00 a share. Volume on Friday was almost 3 times the 3-month average.

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