CASI Pharmaceuticals Receives Nasdaq Deficiency Notice Regarding Minimum Market Value Requirement
CASI Pharmaceuticals (NASDAQ:CASI) has received a deficiency notice from Nasdaq on May 5, 2025, for failing to maintain the minimum Market Value of Listed Securities (MVLS) requirement of $35 million. The company's MVLS fell below the threshold for 30 consecutive business days from March 20 to May 2, 2025. CASI has been granted a 180-day compliance period until November 3, 2025, to regain compliance by maintaining an MVLS of $35 million or above for at least 10 consecutive business days. The company also does not meet alternative Nasdaq listing requirements. While CASI's securities continue to trade on Nasdaq, failure to regain compliance could result in delisting.
CASI Pharmaceuticals (NASDAQ:CASI) ha ricevuto un avviso di non conformità da Nasdaq il 5 maggio 2025, per non aver mantenuto il requisito minimo del Valore di Mercato dei Titoli Quotati (MVLS) di 35 milioni di dollari. Il valore MVLS della società è rimasto al di sotto della soglia per 30 giorni lavorativi consecutivi, dal 20 marzo al 2 maggio 2025. A CASI è stato concesso un periodo di conformità di 180 giorni, fino al 3 novembre 2025, per tornare a rispettare il requisito mantenendo un MVLS di almeno 35 milioni di dollari per almeno 10 giorni lavorativi consecutivi. La società non soddisfa neanche i requisiti alternativi di quotazione di Nasdaq. Sebbene i titoli di CASI continuino a essere negoziati su Nasdaq, il mancato recupero della conformità potrebbe comportare la delisting.
CASI Pharmaceuticals (NASDAQ:CASI) recibió un aviso de deficiencia de Nasdaq el 5 de mayo de 2025 por no mantener el requisito mínimo del Valor de Mercado de Valores Cotizados (MVLS) de 35 millones de dólares. El MVLS de la compañía estuvo por debajo del umbral durante 30 días hábiles consecutivos, desde el 20 de marzo hasta el 2 de mayo de 2025. CASI ha recibido un período de cumplimiento de 180 días hasta el 3 de noviembre de 2025 para recuperar el cumplimiento manteniendo un MVLS de 35 millones de dólares o más durante al menos 10 días hábiles consecutivos. La compañía tampoco cumple con los requisitos alternativos de cotización de Nasdaq. Aunque los valores de CASI siguen cotizando en Nasdaq, no recuperar el cumplimiento podría resultar en la exclusión de la lista.
CASI Pharmaceuticals (NASDAQ:CASI)는 2025년 5월 5일 나스닥으로부터 상장증권 시가총액(MVLS) 최소 요건인 3,500만 달러를 유지하지 못했다는 결함 통지서를 받았습니다. 회사의 MVLS는 2025년 3월 20일부터 5월 2일까지 30거래일 연속으로 기준 이하로 떨어졌습니다. CASI는 180일의 준수 기간을 부여받아 2025년 11월 3일까지 최소 10거래일 연속으로 3,500만 달러 이상의 MVLS를 유지하여 준수 상태를 회복해야 합니다. 또한 회사는 나스닥의 대체 상장 요건도 충족하지 못하고 있습니다. CASI의 증권은 계속 나스닥에서 거래되고 있으나, 준수 상태를 회복하지 못하면 상장 폐지될 수 있습니다.
CASI Pharmaceuticals (NASDAQ:CASI) a reçu un avis de non-conformité de la part du Nasdaq le 5 mai 2025, pour ne pas avoir maintenu la valeur minimale du marché des titres cotés (MVLS) de 35 millions de dollars. La MVLS de la société est restée en dessous du seuil pendant 30 jours ouvrables consécutifs, du 20 mars au 2 mai 2025. CASI bénéficie d'une période de conformité de 180 jours, jusqu'au 3 novembre 2025, pour retrouver sa conformité en maintenant une MVLS de 35 millions de dollars ou plus pendant au moins 10 jours ouvrables consécutifs. La société ne satisfait pas non plus aux exigences alternatives de cotation du Nasdaq. Bien que les titres de CASI continuent d'être négociés sur le Nasdaq, le non-respect de la conformité pourrait entraîner une radiation.
CASI Pharmaceuticals (NASDAQ:CASI) hat am 5. Mai 2025 von der Nasdaq eine Mängelmitteilung erhalten, da das Unternehmen die Mindestanforderung des Marktwerts der gelisteten Wertpapiere (MVLS) von 35 Millionen US-Dollar nicht erfüllt hat. Der MVLS des Unternehmens lag für 30 aufeinanderfolgende Handelstage vom 20. März bis zum 2. Mai 2025 unter der Schwelle. CASI wurde eine Frist von 180 Tagen bis zum 3. November 2025 eingeräumt, um die Einhaltung wiederherzustellen, indem ein MVLS von mindestens 35 Millionen US-Dollar für mindestens 10 aufeinanderfolgende Handelstage gehalten wird. Das Unternehmen erfüllt auch keine alternativen Nasdaq-Listenanforderungen. Obwohl die Wertpapiere von CASI weiterhin an der Nasdaq gehandelt werden, könnte ein Versäumnis der Wiederherstellung der Einhaltung zur Delistung führen.
- None.
- Company failed to maintain minimum $35 million market value requirement for Nasdaq listing
- CASI does not meet alternative Nasdaq listing requirements
- Risk of potential delisting from Nasdaq if compliance is not achieved by November 3, 2025
Insights
CASI faces potential Nasdaq delisting if it can't raise its market value above $35M within 180 days, signaling serious investor concerns.
CASI Pharmaceuticals has received a formal deficiency notice from Nasdaq for failing to maintain the minimum Market Value of Listed Securities (MVLS) requirement of
What makes this situation particularly concerning is that CASI also fails to meet Nasdaq's alternative compliance standards. These alternatives would require either
The company now operates under a 180-day remediation window ending November 3, 2025. To resolve the deficiency, CASI must boost its market value above
For shareholders, this development represents a material risk. Nasdaq delisting typically results in significantly reduced trading liquidity, diminished institutional investment interest, loss of analyst coverage, and restricted access to capital markets. The company's vague statement about taking "appropriate actions" without specifying remediation strategies provides limited visibility into management's plan to address this existential challenge.
BEIJING, CHINA / ACCESS Newswire / May 7, 2025 / CASI Pharmaceuticals, Inc. (NASDAQ:CASI), ("CASI" or the "Company"), a Cayman incorporated biopharmaceutical company focused on developing and commercializing innovative therapeutics and pharmaceutical products, today announced that it has received a notice (the "Notice") from The Nasdaq Stock Market LLC ("Nasdaq") dated May 5, 2025 stating that the Company is not in compliance with the requirement to maintain a minimum Market Value of Listed Securities ("MVLS") of
Nasdaq Listing Rule 5550(b)(2) requires companies to maintain a minimum MVLS of
Pursuant to Nasdaq Listing Rule 5810(c)(3)(C), the Company has a 180-calendar-day compliance period, which expires on November 3, 2025. If, during this period, the Company's MVLS closes at or above
If the Company is unable to regain compliance with the applicable Nasdaq Listing Rules by the end of the compliance period, it will receive a written notice that its securities are subject to delisting.
The Notice has no immediate effect on the listing of the Company's securities and the Company's securities continue to trade on Nasdaq. The Company intends to take appropriate actions within the specified period to regain compliance. However, there can be no assurance that the Company will be able to regain compliance under the MVLS Requirement and other applicable Nasdaq Listing Rules.
About CASI Pharmaceuticals
CASI Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing and commercializing innovative therapeutics and pharmaceutical products in China, the United States, and throughout the world. The Company is focused on acquiring, developing, and commercializing products that augment its focus on hematology oncology therapeutics and therapeutics for organ transplant rejection and autoimmune disease, as well as other areas of unmet medical need. The Company intends to execute its plan to become a leader by launching medicines in the Greater China market, leveraging the Company's China-based regulatory and commercial competencies and its global drug development expertise. The Company's operations in China are conducted through its wholly owned subsidiary, CASI Pharmaceuticals (China) Co., Ltd., located in Beijing, China. More information on CASI is available at www.casipharmaceuticals.com.
CASI Forward-Looking Statements
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as the Company's strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: uncertainties related to the non-binding proposal to acquire the Company's certain business operations in China; our recurring operating losses have raised substantial doubt regarding our ability to continue as a going concern; the possibility that we may be delisted from trading on The Nasdaq Capital Market if we fail to satisfy applicable continued listing standards; the volatility in the market price of our ordinary shares; the risk of substantial dilution of existing shareholders in future share issuances; the difficulty of executing our business strategy on a global basis including China; our inability to enter into strategic partnerships for the development, commercialization, manufacturing and distribution of our proposed product candidates or future candidates; legal or regulatory developments in China that adversely affect our ability to operate in China; our lack of experience in manufacturing products and uncertainty about our resources and capabilities to do so on a clinical or commercial scale; risks relating to the commercialization, if any, of our products and proposed products (such as marketing, safety, regulatory, patent, product liability, supply, competition and other risks); our inability to predict when or if our product candidates will be approved for marketing by the U.S. Food and Drug Administration, European Medicines Agency, PRC National Medical Products Administration, or other regulatory authorities; our inability to receive approval for renewal of license of our existing products; the risks relating to the need for additional capital and the uncertainty of securing additional funding on favorable terms; the risks associated with our product candidates, and the risks associated with our other early-stage products under development; the risk that result in preclinical and clinical models are not necessarily indicative of clinical results; uncertainties relating to preclinical and clinical trials, including delays to the commencement of such trials; our ability to protect our intellectual property rights; the lack of success in the clinical development of any of our products; and our dependence on third parties; the risks related to our dependence on Juventas to conduct the clinical development of CNCT19 and to partner with us to co-market CNCT19; risks related to our dependence on Juventas to ensure the patent protection and prosecution for CNCT19; the risk related to the Company's ongoing development of and regulatory application for CID-103 with respect to the treatment of antibody-mediated rejection for organ transplant and the license arrangements of CID-103; risks relating to interests of our largest shareholder and our Chairman and CEO that differ from our other shareholders; risks related to the development of a new manufacturing facility by CASI Pharmaceuticals (Wuxi) Co., Ltd. and risks related to our disagreement with Acrotech with respect to the termination of agreements regarding EVOMELA®. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided herein is as of the date of this announcement, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.We caution readers not to place undue reliance on any forward-looking statements contained herein.
EVOMELA® is proprietary to Acrotech Biopharma Inc. and its affiliates.FOLOTYN®is proprietary to Acrotech Biopharma Inc and its affiliates. The Company is currently involved in disputes and legal proceedings related to certain pipeline products, including EVOMELA® and CNCT-19.Please refer to the Company's earlier SEC filing for further information.
COMPANY CONTACT:
Rui Zhang
CASI Pharmaceuticals, Inc.
240.864.2643
ir@casipharmaceuticals.com
SOURCE: CASI Pharmaceuticals, Inc.
View the original press release on ACCESS Newswire
FAQ
Why did CASI Pharmaceuticals (CASI) receive a Nasdaq deficiency notice in May 2025?
What is the deadline for CASI to regain Nasdaq compliance?
What happens if CASI fails to meet Nasdaq's compliance requirements by the deadline?
Is CASI stock still trading on Nasdaq after receiving the deficiency notice?
How can CASI regain Nasdaq compliance?
