UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended June 30, 2018
Or
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from ____________ to ____________
Commission File Number: 001-16133
DELCATH SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Delaware |
| 06-1245881 |
(State or other jurisdiction of incorporation or organization) |
| (I.R.S. Employer Identification No.) |
1633 Broadway, Suite 22C
New York, NY 10019
(Address of principal executive offices)
(212) 489-2100
(Registrant's telephone number, including area code)
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of "large accelerated filer," "accelerated filer" "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer ☐ |
| Accelerated filer | ☒ |
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Non-accelerated filer ☐ | (Do not check if a smaller reporting company) | Smaller reporting company | ☐ |
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| Emerging growth company | ☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act . ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
As of August 14, 2018, 932,158 shares of the Company's common stock, $0.01 par value, were outstanding.
DELCATH SYSTEMS, INC.
Table of Contents
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PART I-FINANCIAL INFORMATION |
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Item 1. | Financial Statements (Unaudited) |
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| Condensed Consolidated Balance Sheets as of June 30, 2018 and December 31, 2017 | 3 |
| Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and six months ended June 30, 2018 and 2017 | 4 |
| Condensed Consolidated Statement of Stockholders' Deficit for the six months ended June 30, 2018 | 5 |
| Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2018 and 2017 | 6 |
| Notes to Condensed Consolidated Financial Statements | 7 |
Item 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations | 15 |
Item 3. | Quantitative and Qualitative Disclosures about Market Risk | 35 |
Item 4. | Controls and Procedure | 36 |
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PART II-OTHER INFORMATION |
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Item 1. | Legal Proceedings | 37 |
Item 1A. | Risk Factors | 37 |
Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 37 |
Item 3. | Defaults upon Senior Securities | 37 |
Item 4. | Mine Safety Disclosure | 37 |
Item 5. | Other Information | 37 |
Item 6. | Exhibits | 38 |
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SIGNATURES | 40 | |
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