Casi Pharmaceuticals Inc (CASIF) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-K for FY2025, filed May 15, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CASIF SEC filings page.
Casi Pharmaceuticals Inc (CASIF) reported $20.7M in revenue for fiscal year 2025, down 27.4% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
CASI’s operating cash consumption persists while external financing supports a balance sheet that has moved into negative equity.
In FY2025, operating cash flow of-$20.8M was materially less negative than net loss of-$48.1M , indicating noncash items or working-capital timing softened the immediate cash effect of reported losses. That cushion did not change the operating model: financing cash flow of$11.3M supported the business while operations remained cash-negative, making funding activity an important balance-sheet support.
Margin recovery remains incomplete: gross margin improved to
The balance sheet moved from thin equity in FY2024 to negative equity of
Financial Health Signals
Casi Pharmaceuticals Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Casi Pharmaceuticals Inc scores -47.48, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($3.1M) relative to total liabilities ($62.9M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Casi Pharmaceuticals Inc passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Casi Pharmaceuticals Inc reported a net loss of $48.1M while operations used $20.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
Casi Pharmaceuticals Inc held $5.6M in cash as of Q4 2025; long-term debt is not reported for that period.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
None of these metrics is reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
CASIF Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
CASIF Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2510-K | Q4'2410-K | Q4'2310-K | Q4'2210-K | Q4'2110-K |
|---|---|---|---|---|---|
| Total Assets | $25.6M-52.2% | $53.7M-28.7% | $75.3M-21.8% | $96.2M-30.4% | $138.3M |
| Current Assets | $13.5M-66.0% | $39.6M-33.3% | $59.3M-19.2% | $73.4M+18.5% | $62.0M |
| Cash & Equivalents | $5.6M-58.2% | $13.5M-21.2% | $17.1M-63.7% | $47.1M+21.7% | $38.7M |
| Short-Term Investments | $0 | $0-100.0% | $12.0M+721.5% | $1.5M-85.2% | $9.9M |
| Inventory | $1.6M-69.6% | $5.3M-66.9% | $15.9M+158.7% | $6.1M+221.9% | $1.9M |
| Accounts Receivable | $4.1M-73.3% | $15.3M+60.7% | $9.6M-26.4% | $13.0M+32.3% | $9.8M |
| Long-Term Investments | $1.7M-10.3% | $1.9M+13.5% | $1.7M-61.7% | $4.4M-89.0% | $40.1M |
| Total Liabilities | $62.9M+21.4% | $51.8M+1.4% | $51.1M-1.1% | $51.7M+70.3% | $30.3M |
| Current Liabilities | $49.7M+36.3% | $36.5M+117.9% | $16.7M-1.6% | $17.0M+29.0% | $13.2M |
| Non-Current Liabilities | $13.3M-13.7% | $15.4M-55.3% | $34.4M-0.8% | $34.7M+102.0% | $17.2M |
| Long-Term Debt | N/A | N/A | $18.9M | N/A | N/A |
| Total Equity | -$37.3M-2114.2% | $1.9M-92.3% | $24.2M-45.8% | $44.6M-47.3% | $84.5M |
| Retained Earnings | -$748.1M-6.9% | -$700.1M-5.9% | -$660.8M-3.7% | -$637.2M-5.2% | -$605.6M |
Not reported in any period shown, so not listed: Goodwill.
CASIF Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
CASIF Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.
Note: Shareholder equity is negative (-$37.3M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.27), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Where Casi Pharmaceuticals Inc Ranks
Frequently Asked Questions
What is Casi Pharmaceuticals Inc's annual revenue?
Casi Pharmaceuticals Inc (CASIF) reported $20.7M in total revenue for fiscal year 2025. This represents a -27.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Casi Pharmaceuticals Inc's revenue growing?
Casi Pharmaceuticals Inc (CASIF) revenue declined by 27.4% year-over-year, from $28.5M to $20.7M in fiscal year 2025.
Is Casi Pharmaceuticals Inc profitable?
No, Casi Pharmaceuticals Inc (CASIF) reported a net income of -$48.1M in fiscal year 2025.
What is Casi Pharmaceuticals Inc's EBITDA?
Casi Pharmaceuticals Inc (CASIF) had EBITDA of -$43.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Casi Pharmaceuticals Inc's gross margin?
Casi Pharmaceuticals Inc (CASIF) had a gross margin of 48.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Casi Pharmaceuticals Inc's free cash flow?
Casi Pharmaceuticals Inc (CASIF) recorded an outflow of $20.8M in free cash flow during fiscal year 2025. This represents a 29.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Casi Pharmaceuticals Inc's operating cash flow?
Casi Pharmaceuticals Inc (CASIF) recorded an outflow of $20.8M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Casi Pharmaceuticals Inc's total assets?
Casi Pharmaceuticals Inc (CASIF) had $25.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Casi Pharmaceuticals Inc's capital expenditures?
Casi Pharmaceuticals Inc (CASIF) invested $16K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Casi Pharmaceuticals Inc spend on research and development?
Casi Pharmaceuticals Inc (CASIF) invested $6.3M in research and development during fiscal year 2025.
What is Casi Pharmaceuticals Inc's current ratio?
Casi Pharmaceuticals Inc (CASIF) had a current ratio of 0.27 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Casi Pharmaceuticals Inc's return on assets (ROA)?
Casi Pharmaceuticals Inc (CASIF) had a return on assets of -187.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Casi Pharmaceuticals Inc's P/E ratio?
Casi Pharmaceuticals Inc (CASIF) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $3.1M as of Sep 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Casi Pharmaceuticals Inc's price-to-sales ratio?
Casi Pharmaceuticals Inc (CASIF) trades at 0.2x sales, its market capitalization divided by revenue of $20.7M revenue, FY2025. The market capitalization is $3.1M as of Sep 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Casi Pharmaceuticals Inc's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Casi Pharmaceuticals Inc (CASIF) held $7.3M in cash, cash equivalents and investments, and reported an operating cash outflow of $20.8M over that year. Dividing the one by the other, the reported balance equals about 4 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is Casi Pharmaceuticals Inc's debt-to-equity ratio negative or not reported?
Casi Pharmaceuticals Inc (CASIF) has negative shareholder equity of -$37.3M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Casi Pharmaceuticals Inc's Altman Z-Score?
Casi Pharmaceuticals Inc (CASIF) has an Altman Z-Score of -47.48, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Casi Pharmaceuticals Inc's Piotroski F-Score?
Casi Pharmaceuticals Inc (CASIF) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Casi Pharmaceuticals Inc's earnings high quality?
Casi Pharmaceuticals Inc (CASIF) reported a net loss of $48.1M while operations used $20.8M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.