There was a focused phase 3 they started some times back and it won't complete until 2019. They have interim safety results that were expecting to report 2H of 2017. So we're looking at anywhere between June and December. But, you would think they have that data by now.
So that's the other hint that they might be in quiet period where they aren't going to report anything on the trials.
Some of us are betting on the partnership or M&A deal because apparently some funds have a pretty good sized holding.
While some might say they brought just so they could vote yes. But, if you look at the filing date, both Hudson and Ren and Vanguard increases weren't in July. They were filed in mid - late August.
Now, we know the vote cut off date was holders on or before 7/13. Therefore, it is unlikely Hudson, Ren, and Vanguard bought to influence the votes.
Perhaps if they participated in the offering of the convertible preferred. Those shares would be eligible for voting rights. So when you look at all these fine details, you start to see something else going on here.
Why is Hudson, Ren, and Vanguard still holding a good sized shares? Hudson 25 million, Ren 10 million and I think Vanguard inreased to 1.2 million recently.
The quiet mode and institutional ownership typically points to some sort of deal in the making. Even if Delcath just able to renegotiate the convertible debt and get new source of funding, it's big news.
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