Staff and Wire Reports
Friday, 05 November 2010 07:45
Shares of Delcath Systems (Nasdaq: DCTH) rose on nice volume from lows of $8.21 to $8.53 after our premium subscribers were alerted yesterday that Robert Ladd, the Managing Partner, Laddcap Value Advisors LLC who currently serves as a director of Delcath, is set to appear on CNBC's The Strategy Session, on Friday at 12p ET.
We have been covering this company very closely and last month, CNBC reported that Declath Systems had a higher than unusual volume of November 9 calls. "Street chatter suggests Bristol Myers is potentially interested in this company," reported Jon Najarian of Fast Money.
Please note this from the company's most recent 10-Q filing:
"In addition to our Phase III ocular and cutaneous metastatic melanoma clinical trial, we recently concluded a separate multi-arm Phase II clinical trial of the Delcath system for chemosaturation therapy with melphalan in patients with primary and metastatic liver cancer, stratified into four arms: neuroendocrine tumors (carcinoid and islet cell tumors), hepatocellular carcinoma (primary liver cancer), ocular or cutaneous melanoma (eye or skin cancer who have been previously treated with regional therapy using melphalan), and metastatic adenocarcinoma (glandular cancer). We intend to include the results of our Phase II clinical trial in our NDA submission to the FDA, which we expect to file during the fourth quarter of 2010."
The general sentiment has been that after representatives or executives appear on CNBC talking about their companies, the price action increases. As such, we issued a trade alert. Prices are up again slightly druing pre-market trading activity.
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