As long as there is new money, then maybe they will be able to go to round 3. More shareholders will be wiped out and those that were here for round 1 are probably never going to invest in Delcath ever again.
Those here now for round 2 of FDA panel....they might be foolish enough to believe they can average down.
The main source of raising money will be from Delcath selling their own shares.
So, let's say the stock price settles down around .40 cents and the do 1;10 rs. Sp would be $4 and Delcath would amend the structure of the ATM so they can have plenty of new shares to sell at $4.
This is how Pharma's attempt to stay in business. If this occurs, that $4.00 share price will not last long, the shorts will attack it...even with a very low Market Cap...the History of Delcath will be an indicator to what would happen.
The only thing Good that can happen to Delcath this year is that by some act of God the FDA says "Yes, Approved with extensive REM and GEN 1 only, GEN II studies would be a mandatory" That would be great.
Now: All that said, then how does DCTH get paid? If insurance doesn't accept it, there is NO way Delcath can survive.
Even with approval in EU, Delcath's road to success just became very difficult and uphill.