Leadership shake-up at CASI (NASDAQ: CASI) amid listing issues

Rhea-AI Filing Summary

CASI Pharmaceuticals reported a leadership change and plans to tighten its U.S. footprint as it confronts commercial and listing compliance challenges. The board appointed Dr. Wei-Wu He as executive chairman effective February 17, 2026, while James Huang stepped down as non-executive chairman but remains on the board.

The board also approved measures to streamline the company’s U.S. branches, personnel, and related activities so more resources can be directed toward its core operations, including development of CID-103, an anti-CD38 antibody for organ transplant rejection and autoimmune diseases.

Insights

Biotech governance analyst

CASI reshapes board leadership and U.S. operations in response to commercial and listing challenges.

CASI Pharmaceuticals is responding to commercial pressures and listing compliance challenges by changing its board leadership and restructuring its U.S. presence. Dr. Wei-Wu He becomes executive chairman, centralizing board leadership, while James Huang moves from non-executive chairman to director.

The board plans to streamline U.S. branches, personnel, and activities so more resources support core operations, including development of CID-103. Actual impact will depend on how deeply U.S. activities are trimmed and how effectively the company maintains regulatory compliance and advances CID-103 after these changes.

Subsequent company communications and regulatory filings may clarify the scope of U.S. restructuring, any associated costs, and progress of CID-103 in organ transplant rejection and autoimmune indications.

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE
13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934

For the month of February, 2026

Commission File Number  001-41666

CASI PHARMACEUTICALS, INC.

(Translation of registrant’s name into English)

1701-1702, China Central Office Tower 1

No. 81 Jianguo Road, Chaoyang District

Beijing, 100025

People’s Republic of China

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.  Form 20-F  x Form 40-F  ¨

INCORPORATION BY REFERENCE

The information included in this Report on Form 6-K is hereby incorporated by reference into the Company's Registration Statements on Form F-3 (File No. 333-283998 and No. 333-281621) (including any prospectuses forming a part of such registration statement) and is to be a part thereof from the date on which this Report on Form 6-K is filed, to the extent not superseded by documents or reports subsequently filed or furnished.

CASI Pharmaceuticals Announces Change of Chairman to the Board of Directors and Plans in relation to U.S. Operations

CASI Pharmaceuticals, Inc. (NASDAQ: CASI, the “Company”), a clinical-stage biopharmaceutical company developing CID-103, an anti-CD38 monoclonal antibody, for patients with organ transplant rejection and autoimmune diseases, today reported that given the current commercial and listing compliance challenges faced by the Company, the board of directors of the Company (the “Board”) has appointed Dr. Wei-Wu He, Ph.D., as the executive chairman to the Board, effective February 17, 2026, while Mr. James Huang stepped down as the non-executive chairman to the Board and remains as a director. The Board also resolved to take certain appropriate measures to further streamline the Company’s branches, personnel, and related activities in the United States, thereby focusing the Company’s resources to further strengthen its core business operations.

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. 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.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	CASI Pharmaceuticals, Inc.
	By:	/s/ David Cory
	Name:	David Cory
	Title:	CEO
Date: February 19, 2026

FAQ

What leadership change did CASI (CASI) announce in its February 2026 Form 6-K?

CASI Pharmaceuticals appointed Dr. Wei-Wu He as executive chairman effective February 17, 2026. James Huang stepped down as non-executive chairman but remains a director, signaling a board-level shift as the company addresses commercial pressures and listing compliance challenges.

Why is CASI Pharmaceuticals (CASI) changing its chairman role?

CASI cited current commercial and listing compliance challenges as the backdrop for the chairman change. In this context, the board elevated Dr. Wei-Wu He to executive chairman and moved James Huang from non-executive chairman to director to adjust leadership during a difficult period.

What are CASI Pharmaceuticals' plans for its U.S. operations?

The board plans to streamline CASI’s U.S. branches, personnel, and related activities. These measures aim to concentrate resources on strengthening the company’s core business operations while it manages commercial headwinds and works to maintain stock listing compliance.

Does James Huang remain involved with CASI Pharmaceuticals after stepping down as chairman?

Yes, James Huang remains a director at CASI Pharmaceuticals. He has stepped down only from his role as non-executive chairman, while governance responsibilities continue through his board membership alongside newly appointed executive chairman Dr. Wei-Wu He.

What core business is CASI Pharmaceuticals (CASI) focusing on after its U.S. streamlining?

CASI is focusing resources on its core operations, including CID-103 development. CID-103 is an anti-CD38 monoclonal antibody being developed for patients with organ transplant rejection and autoimmune diseases, and remains central to the company’s clinical-stage strategy.

How does this CASI Pharmaceuticals update relate to its SEC registration statements?

The Form 6-K information is incorporated by reference into CASI’s Form F-3 registration statements. This means the leadership change and U.S. operational plans become part of those shelf registration documents, updating investors who rely on those filings for current corporate information.