Oddmind / analysis
Referral pathway Uveal melanoma, liver Public record only August 2026

No one owns the gap.

HEPZATO can be delivered only at a REMS-certified center. A patient reaches one through four sets of hands. Between the third and the fourth, no one is watching.

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Interactive concept. Seeded, de-identified demonstration data. No patient information.

The pathway to a certified center Line of sight ends at station 03
01
Ophthalmologist
Finds the tumor in the eye
sees: the eye
02
Ocular oncologist
Treats the primary tumor
sees: the eye
03
Medical oncologist
Watches the liver, finds the metastasis
sees: the liver
the seamowned by no one
04
Certified center
Delivers HEPZATO under REMS
sees: the procedure
unmeasured
The company SEC filings, FDA and REMS documents, earnings coverage

A launch that now depends on utilization.

The device is approved and selling. Growth from here is a distribution problem: getting appropriate patients to a small, fixed set of certified sites.

Aug 2023
FDA approved HEPZATO KIT for uveal melanoma with unresectable liver metastases, delivered by percutaneous hepatic perfusion under a REMS that trains and certifies each treating site. FDA REMS
31
active treatment centers as of Q2 2026, up from 28. Guidance is 37 by year-end and 40 by early 2027, with more sites in discussion. Q2 2026
$104–108M
raised full-year 2026 revenue guidance, after a record $85.2M in 2025 and $29.1M in Q2, up 20% year over year. FY2025 Guidance
9
sales territories, expanded from four as the network scaled. One small field team carries both site activation and account growth. Earnings call

Every number points at one lever. Each center sits at the end of a referral catchment: the practices that route patients to it. That catchment is where the next procedure comes from, and the part of the business no filing describes.

The pathway Four specialties, one patient, several years

Every specialty sees its own segment. None sees the whole.

Uveal melanoma is rare, and the route from diagnosis to a certified center runs through several specialties over years. An ophthalmologist finds the tumor. An ocular oncologist treats the primary. Years later, a medical oncologist watching the liver finds the metastasis. Only then does a certified center enter, and only if someone makes the referral.

Surveillance is split by design, and the center sees the patient only once a referral exists. The pathway is real, but it is nobody's job. The systemic alternative does not close it: tebentafusp is limited to HLA-A*02:01–positive patients, roughly half.Approval For the rest, and for liver-dominant disease, the certified-center pathway is the access route.

~2,000

new uveal melanoma cases a year in North America, about 5 per million. The most common adult eye cancer, and still rare.

SEER
45–50%

develop metastases, on average about three years after diagnosis. Surveillance has to hold across that gap.

SEER Consensus
~90%

of metastatic cases have the liver as first or dominant site. Exactly the population HEPZATO is built for.

Cleveland Clinic

The eligible population is defined. The route to it is not.

No public source records how many reach a certified center, or where the rest stop. The loss is invisible because the pathway is not instrumented.

The seam Four ways a patient falls out, and where each one sits

Four different failures. One indistinguishable symptom.

Each is a separate problem with a separate fix. From the field, all four look identical: a center that is not treating this quarter.

01→03

The surveillance interval lapses.

The window from treating the primary to finding a liver metastasis averages about three years, split across two specialties. A missed interval announces itself to no one.

03

The metastasis is found. The referral is not made.

A certified center is one option among several, and the oncologist making the call may have no certified site in view at all.

03→04

The referral is made. The patient does not arrive.

Thirty-one centers serve the whole country. Distance, scheduling, and coverage sit between a referral and a first visit, and delay to definitive treatment tracks with worse outcomes.Treatment delay

04

The patient arrives outside the window.

Once liver involvement passes the labeled threshold, or disease spreads beyond the liver, the pathway closes. Arrival is not eligibility.

Delcath already treats this as real. It launched a Healthcare Setting Locator in February 2024 and runs HEPZATO KIT Access 360, with a clinical navigator and copay support.Locator

Both exist because reaching the center is known to be hard. Neither shows which seam a given center is losing patients at, or which action a territory should take next.

What the field sees today

Procedure volume per center, after the fact. A slowing center looks the same whether its referrers went quiet, its patients never arrived, or they arrived too late.

What is missing

The position of the loss. Without it, every response is the same: another visit to the center that is already certified.

The instrument Phase 1: account-level, no patient data

Measure the seam. Nothing else changes without that.

Phase 1 does not track patients. It instruments the pathway around each certified center at the account level, so the field can see where referrals stall and act on the specific stall.

For each of the nine territories, it maps the referral catchment of every center: which practices feed it, how recently, and where the flow thins. The unit is the referring practice and the center, never the patient. An intelligence and workflow layer, not a CRM, a REMS platform, or a patient hub.

See the seam counted.

A working concept of the Phase 1 board and territory funnel, on seeded, de-identified data.

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Phase 2, following the patient, is the expansion: earned, not assumed. Patient-level tracking is where no patient falls through the cracks becomes literal, and it carries the consent, privacy, and security obligations Phase 1 does not. The order matters. Prove a non-PHI view of the pathway moves procedures first; then take on the consent architecture and PHI-grade security that patient-level tracking requires.

What this is A demonstration, not a product

A concept, built to be checked.

This brief shows the referral pathway can be mapped from evidence, and that the mapping is worth instrumenting. Every figure links to its record.

The full build is a paid engagement with Oddmind. This demonstration runs on hand-verified public data and carries no patient information.

Concept demonstration by Oddmind. All figures compiled from public sources in August 2026 and labeled where approximate. Not affiliated with or endorsed by Delcath Systems. HEPZATO KIT and Access 360 are Delcath's own program names, referenced as public fact.