Welcome to our dedicated page for Casi Pharmaceuticals news (Ticker: CASI), a resource for investors and traders seeking the latest updates and insights on Casi Pharmaceuticals stock.
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.
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CASI Pharmaceuticals (NASDAQ: CASI) announced the filing of its annual report on Form 20-F for the fiscal year ending December 31, 2022, with the U.S. Securities and Exchange Commission on April 26, 2023. The report highlights the company's ongoing commitment to developing innovative therapeutics in hematology oncology and other unmet medical needs. Shareholders can request a free hard copy of the audited consolidated financial statements. The company aims to establish a strong presence in the Greater China market, leveraging its regulatory and commercial competencies alongside its global drug development expertise. More details are available on the company's investor relations website.
CASI Pharmaceuticals, a biopharmaceutical firm, reported a $43.1 million revenue for 2022, marking a 26.7% year-on-year growth. The fourth quarter alone accounted for $10.2 million in revenues from EVOMELA®. Despite challenges due to COVID-19 in China, the company treated nearly 10,000 patients with EVOMELA. The company achieved key milestones, including the acceptance of the CNCT-19 NDA by the NMPA in December 2022 and the initiation of the BI-1206 phase I trial. CASI's net loss increased to $40.3 million compared to $35.8 million in 2021. As of December 31, 2022, the firm had $47.1 million in cash and equivalents, up from $38.7 million in 2021. The company plans to enhance its commercial portfolio in 2023 and beyond.
CASI Pharmaceuticals, Inc. (NASDAQ: CASI) has successfully completed a redomiciliation merger, transitioning the company to be incorporated in the Cayman Islands. As part of this move, each share of CASI's common stock will convert into an ordinary share of CASI Cayman, which will continue to trade under the same NASDAQ symbol 'CASI'. This strategic decision aims to leverage regulatory and commercial competencies in China and enhance its position in the biopharmaceutical market, focusing on hematology oncology and unmet medical needs globally.