Delcath Appoints Anthony Dias as its new Vice President of Finance; Inducement Grant Reported

Rhea-AI Summary

Delcath Systems (Nasdaq: DCTH) announced the appointment of Anthony Dias as the new Vice President of Finance. Bringing over 20 years of financial leadership experience in the healthcare sector, Dias will oversee the company's financial planning, reporting, accounting, and treasury. Previously, he held senior finance roles at Advanced Group and PAREXEL, where he was instrumental in a $5.5 billion sale. Alongside his appointment, Delcath granted him options to purchase 30,000 shares, with a vesting schedule linked to his continued employment.

Positive

• Appointment of Anthony Dias as VP of Finance may enhance financial oversight and strategy.
• Dias' extensive experience in healthcare finance could benefit Delcath's commercialization efforts.

Negative

• Concerns may arise regarding potential gaps in continuity and company experience with the new leadership.

NEW YORK, Feb. 07, 2022 (GLOBE NEWSWIRE) -- Delcath Systems, Inc. (Nasdaq: DCTH), an interventional oncology company focused on the treatment of primary and metastatic cancers of the liver, announced today that the Company has appointed Anthony Dias as its new Vice President of Finance.

Mr. Dias brings over 20 years of experience leading finance and operational teams at pharmaceutical, medical device and technology companies. Mr. Dias will oversee all financial aspects of the company, including financial planning and analysis, financial reporting, accounting and control, tax, and treasury. He will report directly to the Company's CEO, Gerard Michel.

"Delcath is pleased to welcome Tony as the new V.P. of Finance,” said Gerard Michel, Chief Executive Officer. “Tony’s senior finance expertise, experience at leading healthcare organizations, and track record of success will be a great asset, as we focus on commercialization and expanding into new indications."

Prior to Delcath, Anthony was the VP of Finance and Controller for Advanced Group and PAREXEL, a public company CRO, helping the sale of the company to private equity for $5.5 billion. Mr. Dias was also the Senior Vice President and Chief Financial Officer of SeaChange a public traded company providing video solutions and VP Finance of LeMaitre Vascular, a medical device manufacturer, where he helped lead the company’s Initial Public Offering in 2006. Mr. Dias is a certified public accountant and worked at Arthur Andersen, a multinational professional services firm.

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

In connection with the appointment, Delcath has granted an equity award to Mr. Anthony Dias, Delcath’s Vice President of Finance, outside of the Company's Amended and Restated 2020 Stock Incentive Plan and material to Mr. Dias’ acceptance of employment with the company.

Mr. Dias received options to purchase 30,000 shares of Delcath common stock. The options will be issued upon the employee's grant date of February 7, 2022 (“Grant Date”), and all stock options included within the equity inducement award will have an exercise price equal to the closing price of Delcath common stock on the Grant Date. One-third of the options will vest on the first anniversary of the Grant Date with the remaining two thirds (20,000) of the options vesting in equal monthly installments over the 24-month period beginning on the first anniversary of the employment commencement date for Mr. Dias (1/24th will vest on the first day of each month during said 24-month period, provided that Mr. Dias remains employed as of each such vesting date). The options have a ten-year term.

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 percutaneous hepatic perfusion (PHP) system is designed to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects. In the United States, the PHP system is being developed under the tradename HEPZATO KIT (melphalan hydrochloride for injection/hepatic delivery system), or HEPZATO, for the treatment of metastatic ocular melanoma (mOM), also known as metastatic uveal melanoma (mUM) and is considered a combination drug and device product regulated by the United States Food and Drug Administration (FDA).

In Europe, the PHP system is regulated as a Class IIb medical device and is approved for sale under the trade name CHEMOSAT Hepatic Delivery System for Melphalan, or CHEMOSAT, where it has been used at major medical centers to treat a wide range of cancers of the liver.

Contact:

Delcath Investor Relations

Email: investorrelations@delcath.com

Hayden IR

James Carbonara
(646)-755-7412
james@haydenir.com

FAQ

Who is the new Vice President of Finance at Delcath Systems?

Anthony Dias has been appointed as the new Vice President of Finance at Delcath Systems.

What experience does Anthony Dias bring to Delcath Systems?

Anthony Dias brings over 20 years of finance experience in the pharmaceutical and medical device sectors.

What stock options were granted to Anthony Dias by Delcath Systems?

Delcath granted Anthony Dias options to purchase 30,000 shares at the closing price on his grant date.

How does Anthony Dias's appointment impact Delcath's future?

His appointment is expected to strengthen financial leadership and support the company's expansion plans.

What is Delcath Systems focused on?

Delcath Systems focuses on the treatment of primary and metastatic liver cancers using its proprietary PHP system.