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CASI Pharmaceuticals reports developments as a clinical-stage biopharmaceutical company developing CID-103, an anti-CD38 monoclonal antibody for organ transplant rejection and autoimmune diseases. Company news centers on clinical and regulatory disclosures, operating and financial results, material agreements, shareholder matters, and capital-structure updates.
Recent corporate-status news also includes Nasdaq delisting proceedings and the transition of trading in the company’s ordinary shares to the OTC market. Governance updates, board and management changes, and actions to streamline U.S. activities form recurring disclosure themes alongside financing and product-regulatory matters.
CASI Pharmaceuticals, Inc. (Nasdaq: CASI) has announced that research on CID-103, an anti-CD38 monoclonal antibody, will be presented at the AABB Virtual Annual Meeting from October 3-5, 2020. The presentation, titled 'CID-103: Decreased RBC Binding and Interference with Pretransfusion Test Methods', will take place on October 4, 2020. CID-103 aims to provide enhanced efficacy against malignancies expressing CD38, with Phase 1 trials expected to begin in early 2021. CASI holds exclusive global rights to CID-103.
CASI Pharmaceuticals, Inc. (Nasdaq: CASI) has restructured its partnership with Juventas Cell Therapy for the development of CNCT19, an investigational CD19 CAR-T therapy targeting B-cell malignancies. The new agreement reduces CASI's financial exposure while allowing Juventas to attract capital for upcoming trials. CASI will maintain co-commercial rights, receive up to 50% of net profits from CNCT19 sales, and has increased its equity stake in Juventas to 19.65%. The restructuring aims to streamline operations and ensure the successful commercialization of CNCT19.
CASI Pharmaceuticals has announced that its CEO, Dr. Wei-Wu He, will present at two virtual conferences in September 2020. The H.C. Wainwright 22nd Annual Global Investment Conference is scheduled for September 14 at 12:30 PM EDT, followed by the Oppenheimer Fall Healthcare Life Sciences & MedTech Summit on September 23 at 1:40 PM EDT. Webcasts will be accessible on the company's website, with archived replays available for 90 days. CASI Pharmaceuticals focuses on innovative therapeutics, especially in hematology and oncology in China and the U.S.
CASI Pharmaceuticals reported its Q2 2020 financial results, with revenues of $2.7 million from EVOMELA sales, affected by a manufacturer change and COVID-19. The company expects EVOMELA revenue to reach at least $10 million for the year, anticipating improved margins in H2 2020. Clinical trials for CNCT19 are progressing, with registration trials expected in Q1 2021. CASI raised $43.7 million in a public offering, enhancing its financial position. The net loss narrowed to $8.5 million from $15.3 million in Q2 2019. Cash reserves decreased to $44.9 million from $53.9 million.
CASI Pharmaceuticals, Inc. (Nasdaq: CASI) has scheduled a conference call for August 10, 2020, at 4:30 p.m. ET to discuss its second quarter highlights. The call will include insights from the Company's Chairman & CEO regarding ongoing business developments and future milestones. CASI specializes in biopharmaceuticals with products like EVOMELA®, which is approved in China for multiple myeloma treatment. The call can be accessed via various international phone numbers and will be recorded for later playback.
CASI Pharmaceuticals announced a public offering of 20,000,000 shares of its common stock at $1.90 per share, aiming to raise approximately $38 million before expenses. Underwriters have the option to purchase an additional 3,000,000 shares within 30 days. The offering is set to close around July 24, 2020. Proceeds will be utilized for working capital, product advancement, and corporate purposes. The offering is part of a previously established shelf registration with the SEC.
CASI Pharmaceuticals, a U.S. biopharmaceutical firm, has initiated an underwritten public offering of its common stock. The offering may include a 30-day option for underwriters to purchase an additional 15% of the shares. CASI plans to utilize the net proceeds for working capital, advancing its product portfolio, and exploring new product rights. The offering is regulated under a shelf registration statement filed with the SEC. Oppenheimer & Co. acts as the sole bookrunning manager for the offering.