Delcath shares shoot up on promising trial results

Shares of Delcath Systems shot up 24 percent yesterday evening after the company reported that its anti-cancer technology hit the primary goal of a late-stage trial. The study compared Delcath's PHP system, designed to deliver high doses of chemotherapy directly to the liver, with standard of care. "Delcath could be seen to be becoming one of the few device companies in the U.S. with a multi-hundred million dollar product opportunity, and therefore, we would anticipate a takeover premium to come into the name...," Wedbush Securities analyst Gregory Wade said in a note. Report