Lastly, Mitch K. writes, "Where's the Delcath Systems ( DCTH) love? Am I insane or does this stock look grossly undervalued in the face of pretty convincing headline data. How about some insight?"

You're not insane. The top-line data reported by Delcath from the phase III study of its liver tumor system looked great. Important details from the study will be presented next month at the American Society of Clinical Oncology annual meeting. That's going to be an important event for the company and the stock.

Is Delcath grossly undervalued? I don't think so. Delcath's current $500 million market cap seems more than fair, perhaps even overly generous. The company has yet to file for approval with the FDA, and if approved, the commercial launch will be as complicated, perhaps even more so, than what's facing Dendreon ( DNDN) in the coming months.

I like Delcath, don't get me wrong. It's just not a stock I'd be chasing in the mid- to upper teens. It becomes much more attractive on a pullback closer to $10 or below.

-- Reported by Adam Feuerstein in Boston.

Follow Adam Feuerstein on Twitter.
Adam Feuerstein writes regularly for TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet.com. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.

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