CASI Pharmaceuticals Inc
NASDAQ:CASI
CASI Pharmaceuticals Inc
CASI Pharmaceuticals, Inc. is a biopharmaceutical company, which is focused on the acquisition, development and commercialization of therapeutics addressing cancer and other unmet medical needs. The company is headquartered in Rockville, Maryland and currently employs 168 full-time employees. The firm is focused on developing and commercializing therapeutics and pharmaceutical products in China, the United States and throughout the world. The company is also focused on acquiring, developing, and commercializing products that augment its hematology-oncology therapeutic focus as well as other areas of unmet medical need. The Company’s operations in China are conducted primarily through its subsidiaries, which include CASI Pharmaceuticals (China) Co., Ltd. (CASI China), which is wholly owned and is located in Beijing, China, and CASI Pharmaceuticals (Wuxi) Co., Ltd. (CASI Wuxi), which is located in Wuxi, China. Its commercial product, EVOMELA, is developed for use as a conditioning treatment prior to stem cell transplantation and as a palliative treatment for patients with multiple myeloma. The Company’s other core hematology/oncology assets in its pipeline include CNCT19, BI-1206, CB-5339 and CID-103.
CASI Pharmaceuticals, Inc. is a biopharmaceutical company, which is focused on the acquisition, development and commercialization of therapeutics addressing cancer and other unmet medical needs. The company is headquartered in Rockville, Maryland and currently employs 168 full-time employees. The firm is focused on developing and commercializing therapeutics and pharmaceutical products in China, the United States and throughout the world. The company is also focused on acquiring, developing, and commercializing products that augment its hematology-oncology therapeutic focus as well as other areas of unmet medical need. The Company’s operations in China are conducted primarily through its subsidiaries, which include CASI Pharmaceuticals (China) Co., Ltd. (CASI China), which is wholly owned and is located in Beijing, China, and CASI Pharmaceuticals (Wuxi) Co., Ltd. (CASI Wuxi), which is located in Wuxi, China. Its commercial product, EVOMELA, is developed for use as a conditioning treatment prior to stem cell transplantation and as a palliative treatment for patients with multiple myeloma. The Company’s other core hematology/oncology assets in its pipeline include CNCT19, BI-1206, CB-5339 and CID-103.
EVOMELA Revenue: EVOMELA sales reached $8.6 million in Q2 2022, up 19% year-over-year despite COVID lockdown impacts in China.
COVID Impact: Lockdowns in key cities, especially Shanghai, temporarily affected hospital access and EVOMELA sales, but recovery is underway.
CNCT19 Progress: CNCT19 CAR-T cell therapy is on track for NDA filing in China in the second half of 2022, with potential approval in 2023.
Pipeline Updates: Key programs BI-1206 and CB-5339 are advancing, with BI-1206 expected to dose its first patient in China in the second half of 2022.
Strategic Deal: CASI granted an exclusive worldwide license for anti-CD38 antibody in autoimmune diseases to Precision Autoimmune Therapeutics, bringing in a potential $10 million upfront payment.
Solid Cash Position: Ended Q2 with $18.9 million in cash and secured a $10 million credit line, providing funding well into 2023.
Reverse Stock Split: Implemented a 10-for-1 reverse split in May to maintain Nasdaq listing.
