Delcath Systems (OTC:DCTH) shares ticked up slightly despite first-quarter results that missed the consensus forecast.
The New York-based company posted losses of -$6.7 million, or -$1.04 per share, on sales of $388,000 for the three months ended March 31, 2021, for a -33% bottom-line slide on sales growth of 32%.
Delcath’s EPS of -$1.04 came in 6¢ behind Wall Street, where analysts were looking for sales of $400,000.
“The recently released preliminary results from the Focus trial strongly indicates that Hepzato’s benefit-risk ratio is a significant improvement versus an earlier generation of Delcath’s proprietary percutaneous hepatic perfusion system,” Delcath CEO Gerard Michel said in a news release. “We look forward to continued progress in the balance of the year, as we prepare both to file an NDA in early 2022 and expand the development of Hepzato into additional areas of high unmet need.”
Delcath did not offer financial guidance for the full 2021 year.
DCTH shares were up 0.5% at $10.31 per share in mid-afternoon trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down -0.7%.