Nasdaq delists CASI Pharmaceuticals (NASDAQ: CASI); shares expected to move OTC
Rhea-AI Filing Summary
CASI Pharmaceuticals reports that a Nasdaq Hearings Panel has decided to delist its securities because the company failed to meet continued listing conditions. Trading on Nasdaq will be suspended at the open on February 26, 2026, after which the securities will be delisted following completion of the applicable process.
The company does not plan to seek further review of the decision. CASI expects its ordinary shares to be quoted on an over-the-counter market operated by OTC Markets Group, although there is no guarantee that brokers will continue to make a market or that OTC trading will continue. CASI states that the Nasdaq delisting will have no significant impact on its operations, and it continues developing its lead antibody candidate CID-103 in multiple clinical programs.
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- Nasdaq delisting and trading suspension: A Nasdaq Hearings Panel has decided to delist CASI’s securities for failure to meet continued listing conditions, with Nasdaq trading suspended from February 26, 2026, increasing uncertainty around liquidity and market access for shareholders.
Insights
Nasdaq delisting increases trading and liquidity risk for CASI shares.
CASI Pharmaceuticals discloses that a Nasdaq Hearings Panel decided to delist its securities after the company failed to satisfy continued listing conditions. Trading on Nasdaq will be suspended from
The company plans for its ordinary shares to trade on an over-the-counter market operated by OTC Markets Group, but explicitly notes there is no assurance any broker will continue to make a market or that OTC trading will persist. This highlights potential liquidity, spread and price-discovery challenges for current and future shareholders.
CASI emphasizes that delisting will have no significant impact on operations and continues clinical development of CID-103, including Chinese Phase 1/2 and U.S. Phase 1 programs and an ongoing Phase 1 study in immune thrombocytopenia. Future periodic filings and clinical updates will be key to understanding how funding and investor access evolve post-delisting.
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, including Exhibits 99.1, 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.
EXHIBIT INDEX
| Exhibit No. | Description | |
| 99.1 | Press Release of CASI Pharmaceuticals, Inc. dated February 25, 2026 |
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 25, 2026 | ||
Exhibit 99.1
CASI Pharmaceuticals Receives the Delisting Decision from the Nasdaq Hearings Panel
South San Francisco, California / February 25, 2026 / ACCESS NEWSWIRE / -- CASI Pharmaceuticals, Inc. (NASDAQ: CASI), a clinical-stage biopharmaceutical company focused on developing CID-103, a potential best-in-class, anti-CD38 monoclonal antibody for patients with organ transplant rejection and autoimmune diseases, today announced that it has received a determination letter from the Hearings Panel (the “Panel”) of The Nasdaq Stock Market (“Nasdaq”) dated February 23, 2026, notifying the Company that the Panel determined to delist the Company’s securities from Nasdaq, due to the Company’s failure to satisfy the continued listing conditions as previously disclosed. As a result, the Company securities will be suspended from trading at the open of business on February 26, 2026 and delisted from Nasdaq after the completion of certain applicable process. The Company does not intend to request a review of such decision.
Following the delisting, the Company expects that its ordinary shares will be quoted on the “over the counter” market operated by OTC Markets Group Inc (the “OTC”) so that a trading market may continue to exist for its ordinary shares. There is no guarantee, however, that a broker will continue to make a market in the ordinary shares and that trading of the ordinary shares will continue on an OTC market or otherwise.
The delisting from Nasdaq will have no significant impact on the Company’s operations.
About CASI Pharmaceuticals
CASI Pharmaceuticals, Inc. is a public biopharmaceutical company developing CID-103, an anti-CD38 monoclonal antibody for organ transplant rejection and autoimmune diseases.
CID-103 is a fully human IgG1, potentially best-in-class, clinical stage, anti-CD38 monoclonal antibody which targets a unique epitope and has demonstrated an encouraging pre-clinical efficacy and clinical safety profile compared to other anti-CD38 monoclonal antibodies, and for which CASI owns exclusive global rights. CASI has received regulatory approvals of a Chinese Phase 1 / 2 CTA and a U.S. Phase 1 IND in adults with chronic active renal allograft antibody-mediated rejection (AMR). In parallel, CASI is actively recruiting and dosing patients in an ongoing Phase 1 study in immune thrombocytopenia (ITP). In addition, CASI is assessing multiple technologies for development of a stable, high concentration protein solution for subcutaneous injection.
More information on CASI is available at www.casipharmaceuticals.com.
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.
INVESTOR CONTACT:
Larry Zhang
240-205-5475
larryz@casipharmaceuticals.com
FAQ
Why is CASI Pharmaceuticals (CASI) being delisted from Nasdaq?
When will CASI Pharmaceuticals stock stop trading on Nasdaq?
Will CASI Pharmaceuticals shares trade on the OTC market after delisting?
Does the Nasdaq delisting affect CASI Pharmaceuticals’ operations?
What clinical programs is CASI Pharmaceuticals (CASI) currently pursuing?
Does CASI Pharmaceuticals plan to appeal the Nasdaq delisting decision?
Filing Exhibits & Attachments
1 documentPress Releases
