Los Angeles, CA (Profitable.com) Each month there are hundreds of…
Los Angeles, CA (Profitable.com) The Law Offices of Todd M. Garber announces that it is investigating potential claims against Delcath Systems, Inc. (“Delcath” or the “Company”) (NASDAQ:DCTH) concerning possible violations of federal securities laws. The investigation focuses on certain statements issued by Delcath between April 21, 2010 and May 2, 2013 regarding the Company’s business and financial prospects.
Delcath operates as a specialty pharmaceutical and medical device company focusing on the field of oncology, primarily the development of CHEMOSAT/Melblez Kit system, which administers concentrated regional chemotherapy to the liver. The investigation is related to allegations that Delcath misrepresented or failed to disclose material adverse facts about the Company’s New Drug Application seeking Food and Drug Administration (FDA) approval for commercial sale of Melblez Kit — Melblez (melphalan) for Injection for use with the Delcath Hepatic Delivery System — for the treatment of patients with unresectable ocular melanoma metastatic to the liver, including substantial and severe toxicity, and deaths associated with the drug’s adverse reactions.
On May 2, 2013 the Company disclosed that the FDA’s Oncologic Drugs Advisory Committee voted 16-0, with no abstentions, that Melblez Kit’s treatment benefits do not outweigh the risks associated with the procedure. The next day, as a result of this news, the price of Delcath shares dropped more than 40% on extremely heavy trading volume.
If you purchased Delcath shares during the foregoing period, if you have information or would like to learn more about these claims, or if you purchased Delcath stock prior to April 21, 2010 and wish to discuss these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to firstname.lastname@example.org.
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