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 Inc (CASI) is a biopharmaceutical innovator advancing therapies for oncology and immune-related disorders. This page provides investors and industry professionals with timely updates on clinical developments, regulatory milestones, and corporate announcements.
Key resources include: Press releases detailing product approvals, financial earnings reports, partnership agreements, and progress across the company’s pipeline. Track updates on therapies like EVOMELA® for multiple myeloma and CID-103 for immune-mediated conditions.
Bookmark this page to stay informed about CASI’s strategic initiatives in hematologic oncology and global commercialization efforts. Check regularly for verified updates directly from the company and trusted sources.
CASI Pharmaceuticals, Inc. (NASDAQ: CASI) announced a 1-for-10 reverse stock split effective June 1, 2022, at 5:00 p.m. ET. This decision, approved by stockholders at the Annual Meeting on May 25, aims to meet NASDAQ's minimum bid price requirement. Following the split, approximately 13,606,249 shares will remain outstanding. The reverse split is expected to enhance the company's ability to access capital markets and support future growth in hematology and oncology therapeutics. CASI will trade post-split under the same NASDAQ symbol beginning June 2, 2022.
CASI Pharmaceuticals has signed a sublicensing agreement with Tianshi Pharmaceuticals, granting Tianshi exclusive global rights to CID-103, an investigational anti-CD38 monoclonal antibody, for autoimmune indications. CASI will receive an upfront payment of $10 million in two installments, in addition to future milestone and royalty payments. CASI will also hold 15% equity in Tianshi after the latter's financing round, which includes investments totaling 140 million RMB. CASI retains commercialization rights in the U.S. for CID-103 in autoimmune and hematology-oncology fields.
CASI Pharmaceuticals reported a strong first quarter of 2022 with $9.0 million in EVOMELA sales, reflecting a 58% year-over-year increase. The company aims to build on its 100% growth target achieved in 2021. In 2022, CASI focuses on advancing its therapeutic portfolio, including the CNCT-19 NDA submission and expected launch in China. Its research investments decreased slightly to $4.0 million, while total cash and cash equivalents stood at $29.3 million.
CASI Pharmaceuticals (Nasdaq: CASI) will host a conference call on May 12, 2022, at 8:00 a.m. EST to discuss its first-quarter 2022 financial results. The call will include updates from the Chairman & CEO on business developments and milestones. Interested parties can join the call by dialing the provided numbers, and a replay will be available afterwards. CASI focuses on developing innovative therapeutics in hematology oncology, particularly in the China market, through its wholly-owned subsidiary in Beijing.
CASI Pharmaceuticals, Inc. (Nasdaq: CASI) announced on March 30, 2022, that it was provisionally identified by the SEC under the Holding Foreign Companies Accountable Act (HFCAA) for using an auditor not subject to PCAOB inspection. This was expected by CASI following their recent Form 10K filing on March 28, 2022. The company is exploring strategic options to comply with HFCAA requirements. CASI focuses on developing therapeutics in oncology, particularly for the Greater China market, leveraging its subsidiary in Beijing.
CASI Pharmaceuticals reported $9.12 million in EVOMELA® revenue for Q4 2021, marking 100% growth for the year, with total revenue reaching $30 million. The company aims for continued growth through its commercial franchise in 2022, with anticipated milestones including NDA filing for CNCT19 and initiation of BI-1206 Phase I trials. Despite increased R&D and marketing costs leading to a net loss of $35.8 million, CASI’s cash position stands at $38.7 million. The company sees EVOMELA as central to its operations moving forward.
CASI Pharmaceuticals (Nasdaq: CASI) announced a conference call scheduled for March 28, 2022, at 8:00 a.m. EDT, to review its financial results for Q4 and the year ended December 31, 2021. The call will be led by the Company's Chairman & CEO, who will discuss business updates and upcoming milestones. Investors can access the call via a local and international dialing system, with a replay option available afterward.
CASI focuses on developing innovative therapeutics in hematology and oncology, primarily targeting the greater China market.
CASI Pharmaceuticals (Nasdaq: CASI) has renewed an exclusive distribution agreement with China Resources Pharmaceutical Commercial Group for EVOMELA® (melphalan) sales in China. This partnership has contributed to rapid revenue growth, reaching $30 million in 2021. The collaboration enhances distribution efficiency, increasing accessibility for healthcare providers and patients. CASI aims to strengthen its market position in China through this agreement and its dedicated hematology oncology sales team.
CASI Pharmaceuticals, Inc. (Nasdaq: CASI) reported preliminary unaudited revenues of approximately $9.12 million for Q4 2021 and $30 million for the full year, exceeding its projected $27 million guidance and marking a significant 100% increase from 2020's $15 million. The company anticipates more than 30% growth in EVOMELA revenue for 2022. Key developments include ongoing clinical trials for pipeline products, with a focus on the commercialization of CNCT-19 and approvals for CB-5339 and BI-1206 expected this year.
CASI Pharmaceuticals, Inc. (Nasdaq: CASI) announced that the FDA granted Orphan Drug Designation (ODD) to its partner BioInvent International AB for BI-1206, an investigational antibody targeting follicular lymphoma (FL). This designation supports the ongoing clinical trials for BI-1206, which is being studied in combination with rituximab and Keytruda for treating various lymphomas and solid tumors. Dr. Wei-Wu He highlighted the significance of this designation, noting the potential for innovative cancer therapies and ongoing preparations for clinical studies in China.
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