Wed, Sep. 17, 1:38 PM
Mon, Sep. 15, 5:17 PM
- Delcath Systems (DCTH +3.1%) announces a management reorganization. Gabriel Leung steps down as Chairman of the Board but will continue as a board member. Board member Dr. Roger G. Stoll appointed Executive Chairman.
- Interim Co-President and interim Co-CEO Dr. Jennifer Simpson appointed interim President and interim CEO.
- Interim Co-President and interim Co-CEO Dr. Graham Miao will leave the company at the end of September.
- VP, Controller and Principal Accounting Officer Barbra Keck appointed Principal Financial Officer.
Mon, Sep. 15, 10:42 AM
- Shareholder Linkedto Partners says two NASDAQ-traded firms have approached it about a merger or buyout of Delcath Systems (DCTH +4.3%).
- Linkedto has the support of 4.9% of DCTH shares. It is calling for a sale of the company as a means to unlock shareholder value. Last week, it upped its non-binding offer to $3.00 per share.
Thu, Sep. 11, 4:31 PM
- Activist shareholder Linkedto Partners says it and its allies now control 4.8% of Delcath Systems (DCTH +0.4%) common stock. In conjunction with recruiting support, it recently sent communications to each board member regarding the company's underperformance and the need for a sale.
- Linkedto also states that it has become aware that the BOD has had discussions with potential acquirers, including Medtronic, over the past few years about a potential transaction.
- The market remains unconvinced. Shares were up a fraction today on turnover of only 15.5K shares.
Tue, Sep. 9, 10:40 AM
- Delcath Systems (DCTH +0.4%) shareholder Linkedto Partners raises its unsolicited non-binding offer for the company to $3.00 per share. Yesterday, its offer was $2.90. This past Friday it was $2.85. At this rate, Delcath can continue to ignore Linkedto's overtures and expect to get a $6.00 offer by mid-October.
- Linkedto controls less than 1% of the stock so it is highly unlikely to make any progress until it can corral a large enough stake to get management's attention.
- Considering DCTH's current price of $2.38 (unchanged), the market is not regarding the action seriously either.
Fri, Sep. 5, 10:43 AM
Wed, Sep. 3, 2:07 PM
- Shares of thinly-traded nano cap Delcath Systems (DCTH -3.5%) ease up today on increased volume. Shares rose 7% yesterday after activist shareholder Linkedto Partners called for management to cut their hefty salaries in order to save money and pursue an immediate sale of the firm considering its substantial cash burn and scant revenues.
- Whether or not management listens to Linedto Partners is unknown. Its position is only 77K shares which represents a modest 0.8% stake.
Fri, Aug. 8, 1:04 PM
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