Delcath Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

QUEENSBURY, N.Y.--(BUSINESS WIRE)-- Delcath Systems, Inc. (Nasdaq: DCTH) (“Delcath” or the “Company”), an interventional oncology company focused on the treatment of primary and metastatic cancers of the liver, announces that the Company granted one equity award, previously approved by the Company’s Compensation Committee, as a material inducement to the employment of an individual whose employment commenced in July 2024.

The grant totaled the right to purchase an aggregate of 23,000 shares of the Company’s common stock and is subject to the terms and conditions of the Company’s 2023 Inducement Plan (“Plan”). The options were granted on July 31, 2024, the date the Compensation Committee approved the stock option included within the equity inducement and are subject to an exercise price equal to $8.62, the closing price of Delcath’s common stock on July 31, 2024. One-third of the options will vest on the first anniversary of the grant date with the remaining two-thirds of the options vesting in equal monthly installments over the following twenty-four months. The option has a ten-year term and the vesting of the options is subject to the employee’s continued employment with Delcath on each vesting date.

The above-described award was granted in accordance with Nasdaq Listing Rule 5635(c)(4), and was granted pursuant to the terms of the Plan.

About Delcath Systems, Inc.

Delcath Systems, Inc. is an interventional oncology company focused on the treatment of primary and metastatic liver cancers. The Company’s proprietary products, HEPZATO KIT™ (melphalan for Injection/Hepatic Delivery System), approved for use in the United States by the Food and Drug Administration, and CHEMOSAT Hepatic Delivery System for Melphalan percutaneous hepatic perfusion (PHP), designated under the medical device regulation for use in Europe and the United Kingdom, are designed to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects during a PHP procedure. For more information regarding HEPZATO KIT and its use, including Important Safety Information and Boxed Warning, please visit HEPZATOKIT.com. For more information regarding CHEMOSAT and its use, please visit Chemosat.com.

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Investor Relations:

ICR Westwicke

investorrelations@delcath.com

Source: Delcath Systems, Inc.

FAQ

How many shares were granted in Delcath's (DCTH) recent equity award?

Delcath Systems, Inc. (DCTH) granted the right to purchase 23,000 shares of the company's common stock as part of an equity award to a new employee.

What is the exercise price for the stock options granted by Delcath (DCTH) on July 31, 2024?

The exercise price for the stock options granted by Delcath (DCTH) on July 31, 2024, is $8.62, which was equal to the closing price of Delcath's common stock on that date.

What is the vesting schedule for Delcath's (DCTH) recently granted stock options?

One-third of the options will vest on the first anniversary of the grant date, with the remaining two-thirds vesting in equal monthly installments over the following 24 months, subject to the employee's continued employment with Delcath.

Under which Nasdaq rule did Delcath (DCTH) grant the equity award?

Delcath (DCTH) granted the equity award in accordance with Nasdaq Listing Rule 5635(c)(4), which allows for inducement grants to new employees.