Stephens initiated coverage of Delcath Systems with an Overweight rating and $25 price target. The firm believes Delcath is at a pivotal juncture as it makes the transition from clinical development to a commercial entity. HEPZATO-KIT is considered a combination chemotherapy drug and device product, approved by the FDA for sale in the U.S. for patients with uveal melanoma with unresectable hepatic metastases, notes the analyst, who anticipates HEPZATO-KIT to become established as “one of the hallmark therapies for mUM.”
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