https://whitediamondresearch.com/wp-content/uploads/2017/07/DCTH-embarrased-doctor.jpg 195 298 White Diamond http://whitediamondresearch.com/wp-content/uploads/2019/01/diamond_logo_NEW.png White Diamond2017-07-12 11:00:092017-07-12 15:09:07Delcath Systems Death Spiral Financing And Luxurious Spending Will Result In A Speedily 90% Decline In Share Price
- In the past month, Delcath has risen 1000%+ on promotional hype and no fundamental news.
- Delcath is engaging in death spiral financing, the convertible note holders can buy shares at a 15% discount to the recent market price and then immediately sell in the open market.
- Delcath’s outstanding share count went from 39 million on February 10, 2017, to 374.4 million on June 5th, 2017, and 439 million on July 5th.
- Delcath is conducting clinical trials on its same technology that failed to be approved by the FDA in 2013.
- Despite being a struggling company, Delcath’s gluttonous executives award themselves high salaries, fly first class, and are in a ritzy office located in midtown Manhattan.
Read the full article on Seeking Alpha here.