Casi Pharmaceuticals Inc Stock Price, News & Analysis

CASI Pharmaceuticals, a U.S. biopharmaceutical company, announced that Dr. Wei-Wu He will present at the Jefferies Virtual Healthcare Conference on June 4, 2021, at 9:30 AM (EST). The event will showcase the company’s focus on developing therapeutics in hematology oncology and other unmet medical needs. A webcast will be available on CASI's website in the 'Investors Relations' section, with replays for 30 days post-event. CASI aims to leverage its expertise in China and the U.S. to become a leader in the biopharmaceutical industry.

CASI Pharmaceuticals reported a revenue of $5.7 million from EVOMELA for Q1 2021, up from $3.4 million in Q1 2020, with a projected annual growth exceeding 50%. R&D expenses increased to $5.3 million mainly due to the CID-103 project. General and administrative costs rose to $5.5 million, reflecting expanded operations. The net loss for the quarter widened to $13.7 million, compared to $8.2 million in the previous year. The firm raised $32.5 million in capital to enhance its balance sheet.

CASI Pharmaceuticals (Nasdaq: CASI) announced it will host a conference call on May 13, 2021, at 8:00 a.m. ET to review its first quarter highlights. The call will be led by the company's Chairman & CEO, discussing business updates and upcoming milestones. Interested participants can access the call by dialing the relevant numbers for the U.S., China, or Hong Kong, with a conference ID of 7478587. A replay of the call will also be available. CASI focuses on developing therapeutics for hematology oncology and has a significant presence in the Chinese market.

CASI Pharmaceuticals reported its 2020 financial results, disclosing revenue of $15 million, up from $4.1 million in 2019, primarily driven by the sales of EVOMELA. The company forecasted over 50% revenue growth in 2021. It completed a public offering raising $32.5 million and highlighted in-licensing of a VCP/p97 inhibitor for treatment of hematological malignancies. However, net loss increased to $47.5 million from $45.4 million due to rising R&D and acquisition costs. The company is focused on expanding its U.S. investor base while preparing for regulatory filings in China.

CASI Pharmaceuticals (Nasdaq: CASI) announced a public offering of 15,853,658 shares at $2.05 per share, with an option for underwriters to purchase 2,378,048 additional shares. The offering is anticipated to generate approximately $32.5 million in gross proceeds, which is expected to close around March 26, 2021. Proceeds will primarily fund working capital, enhance their product portfolio, and support general corporate needs. The offering is conducted under a shelf registration statement that was declared effective in December 2020.

CASI Pharmaceuticals has launched an underwritten public offering of its common stock, with a provision for underwriters to purchase an additional 15%. The exact size and terms are uncertain. Proceeds will support working capital and advance its product portfolio, including acquiring new product rights. The offering occurs under a previously effective shelf registration statement. Key underwriters include Oppenheimer & Co., Mizuho Securities USA, and BTIG. Investors are advised to review the preliminary prospectus for comprehensive details.

CASI Pharmaceuticals, Inc. (Nasdaq: CASI) announced a conference call on March 12, 2021, at 8:00 a.m. ET to discuss recent business developments and upcoming milestones. Attendees can dial in using provided numbers for the U.S., China, and Hong Kong, or access the live webcast online. An archived version will be available for one year. CASI is focused on developing pharmaceutical products in the U.S. and China, particularly in hematology oncology. More information on CASI can be found on their website.

Cleave Therapeutics and CASI Pharmaceuticals have signed an exclusive licensing agreement for CB-5339, a novel VCP/p97 inhibitor, aimed at treating hematological malignancies and solid tumors in Greater China. Cleave receives a $5.5 million upfront payment and potential milestone payments totaling $74 million, along with tiered royalties on sales. CB-5339 is currently in Phase 1 clinical trials for AML and myelodysplastic syndrome, and the National Cancer Institute is also evaluating it for solid tumors. This partnership is seen as a strategic move to enhance CB-5339's global development.

CASI Pharmaceuticals, Inc. (Nasdaq: CASI) reported preliminary revenues for Q4 and full-year 2020, projecting EVOMELA revenues of approximately $4.8 million for Q4 and $15 million for the year, a 269% increase from 2019. The company anticipates over 50% growth in 2021. Key highlights include ongoing preparations for the CNCT19 drug launch, expected NDA filing in 2021, and promising early data from partner BioInvent's BI-1206 trial. CASI holds $57.1 million in cash as of year-end 2020 and aims for significant advancement in its pipeline in 2021.