Delcath readies for reverse stock split

Delcath Systems (NSDQ:DCTH) said today that it inked a deal to extinguish its 2016 convertible notes with the unnamed holder of the majority of the notes. But the agreement is contingent upon the company effecting a reverse stock split – a move that shareholders voted down in June.

The company’s board urged shareholders to this time vote in favor of a reverse stock split, saying that it would allow Delcath to regain compliance with the Nasdaq minimum bid price. Today, DCTH shares were trading at 13¢ apiece in mid-afternoon activity, up 4%.

Get the full story at our sister site, Drug Delivery Business News.

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