DCTH (Delcath Systems) — What do you guys think about this company?

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I recently started a position in DCTH (Delcath Systems) and would love to hear from people who follow the company or the biotech/medtech space.

A few things caught my attention:

\- The company already has revenue, so this isn't simply a pre-revenue biotech depending on a single clinical trial or binary outcome.

\- They have an interesting technology/research platform focused on liver cancer, which I find particularly compelling given how difficult certain liver cancers are to treat.

\- I see potentially significant long-term growth if adoption of their technology continues and the clinical/commercial results remain positive.

\- From my perspective, the current valuation offers an interesting risk/reward profile for a long-term position, although I fully recognize that this is still a small-cap company with substantial risk.

I'm not claiming this is necessarily a winner. There are obviously risks around execution, competition, hospital/physician adoption, financing, clinical outcomes and ultimately the ability to scale the business.

I'm particularly interested in hearing the bear case.

For those who follow DCTH:

What do you find most compelling about the company, and what concerns you the most?

Do you think the market is underestimating the potential of the technology and revenue growth, or are there important risks that I'm overlooking?

My position is relatively small, and I'm looking at this from a multi-year perspective rather than as a short-term trade.