Delcath Systems Inc (DCTH)

[Simsim99]

That is what really gets to me. Companies in phase 3 can generally get reasonable financing. But somehow not this team at Dcth. They do financings that seem to be worse than preclinical companies or companies just entering phase 1. It makes no sense that they couldn’t find more reasonable financings than the disastrous financings they do. If this is truly the best that was available even if we had a better management team it doesn’t say much about the product. I believe better management could have done better. Certainly Hobbs was able to raise money for the same product without this level of destruction so why would it be the product? Sure there was overspending back in those days and the fda rejection, but he could reasonably raise money. Not this team though.