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CASI Pharmaceuticals, Inc. (CASIF) reported that it has sold its equity interests in Alesta Therapeutics B.V. to BioMarin Pharmaceutical Inc. under a Share Purchase Agreement, with the transaction closing on August 31, 2026. CASI received approximately US$5.9 million in net cash proceeds at closing and may receive additional contingent payments tied to specified development and regulatory milestones, though these future payments are not assured and remain subject to the transaction agreement.
Alesta completed a spin-out of all non-ALE1 assets to a new entity prior to closing, and BioMarin’s acquisition was structured to retain the ALE1 asset within Alesta. CASI stated that its existing licensed rights to CID-103 remain unchanged following this transaction.
CASI Pharmaceuticals reported first half 2026 results, highlighting progress on its lead antibody CID-103 while remaining deeply loss-making and highly leveraged. The company received China NMPA approval for a Phase 1/2 study in renal allograft antibody-mediated rejection and dosed the first patient in that trial, and completed Part A dose-escalation enrollment in an ongoing Phase 1/2 immune thrombocytopenia study.
Revenue was $9.8 million, down slightly from $10.4 million. Gross profit rose to $7.7 million, and net loss narrowed to $20.0 million from $24.1 million, with net loss per share improving to $(0.97) from $(1.56). Cash and cash equivalents were $3.8 million at June 30, 2026.
Total assets were $21.1 million against total liabilities of $79.3 million, resulting in shareholders’ deficit of $58.3 million. CASI disclosed recurring operating losses that have raised substantial doubt about its ability to continue as a going concern. Its shares were delisted from Nasdaq and began trading on the OTCQB market under CASIF.
CASI Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company developing CID-103, reports a management change. Wei (Larry) Zhang will no longer serve as Senior Vice President. The change is described as part of ongoing efforts to further streamline branches, personnel and related activities in the United States.
The information in this report is incorporated by reference into existing Form F-3 registration statements. The company also includes standard forward-looking statements language referencing its strategic and operational plans and related risks.
CASI Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company developing CID-103, reported receiving the final award in its arbitration against Juventas Co., Ltd. before the Hong Kong International Arbitration Centre. The tribunal rejected all of Juventas’s breach allegations and determined that Juventas wrongfully terminated the parties’ CNCT-19 commercialization agreements in March 2024.
The tribunal awarded CASI its wasted costs, interest accruing from the date of Juventas’s wrongful termination, CASI’s share of the arbitral tribunal and HKIAC costs, and a substantial portion of its legal costs, totaling well over RMB 100 million. This information is incorporated by reference into CASI’s existing Registration Statements on Form F-3.
CASI Pharmaceuticals has entered into a Settlement Agreement with Acrotech Biopharma to resolve an arbitration over the Evomela® license in China. The dispute stemmed from Acrotech’s purported termination of a 2014 License Agreement covering exclusive commercialization rights in China.
Under the settlement, the prior purported termination and related agreements will be rescinded, and the License Agreement will remain in full force and effect, subject to certain revisions, including an obligation for CASI to purchase a minimum number of Evomela® units in specified years. CASI and Acrotech will now seek dismissal of the arbitration with prejudice, removing this legal overhang.
CASI Pharmaceuticals, Inc. notified Nasdaq of the removal of its Ordinary Shares from listing and/or registration under Section 12(b) via a Form 25 submission. The exchange certified compliance with 17 CFR 240.12d2-2 and the issuer certified compliance with exchange rules.
CASI Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company focused on developing CID-103 for organ transplant rejection and autoimmune diseases, reported that Dr. Barbara Krebs-Pohl has resigned as a director, effective May 31, 2026. The company states her resignation was not due to any disagreement with the company. After stepping down, she agreed to continue supporting CASI as an independent consultant on mutually agreed terms.
CASI Pharmaceuticals’ major shareholder updates its ownership and financing details. Wei-Wu He, Ph.D. and affiliated entities report beneficial ownership of 23,985,535 Ordinary Shares, representing 58.8% of the class, based on 20,555,873 shares outstanding as of May 15, 2026.
The filing reflects multiple holdings, including options and several convertible notes. On April 17, 2026, ETP Global III Fund L.P. purchased a new US$5 million convertible note, the fourth tranche of a US$20 million financing. This note can convert into Ordinary Shares between US$1 and US$2 per share, with the beneficial ownership calculation assuming a US$1 conversion price and including shares acquirable within 60 days.
CASI Pharmaceuticals, Inc. reports 2025 results showing continued revenue pressure and deep losses while warning of substantial doubt about its ability to continue as a going concern. Revenue fell to US$20.7 million from US$28.5 million in 2024 as sales of key oncology drug EVOMELA® declined amid intensified generic competition, and FOLOTYN® sales in China ceased after license renewal was not granted.
The company recorded a 2025 net loss of US$48.1 million and used US$20.8 million of cash in operating activities. Cash and cash equivalents dropped to US$5.6 million at year-end, with net current liabilities of US$36.2 million and an accumulated deficit of US$748.1 million. Management states that additional liquidity will be required over the next 12 months and outlines plans such as equity financing, expense reductions, new credit facilities and potential asset or license sales.
CASI continues to invest in its pipeline, spending US$6.3 million on research and development in 2025, including programs like CID‑103 and BI‑1206, and increasing its stake in Precision Autoimmune Therapeutics Co., Ltd. through equity purchases. It also raised capital via ordinary share issuances and a US$20 million convertible note program with a fund controlled by Executive Chairman Dr. Wei‑Wu He. The company notes a default under certain financial covenants tied to a long-term borrowing, giving a convertible note holder the right to demand immediate repayment, and classifies that note as a current liability, further underscoring its tight liquidity position.
CASI Pharmaceuticals, Inc. director Thomas Folinsbee filed a Form 3 detailing his initial beneficial ownership in stock options on the company’s ordinary shares. The options are fully vested and exercisable as of the filing date.
Disclosed positions include options over 11,231 ordinary shares at an exercise price of $1.26 per share expiring on July 21, 2035, and options over 20,000 shares at $3.59 per share expiring on June 26, 2034. Additional fully vested options cover 11,231 shares at $2.67 per share expiring on June 18, 2034, and 11,231 shares at $1.93 per share expiring on April 14, 2033.