CASI PHARMACEUTICALS REPORTS DEVELOPMENT RELATING TO ITS DISPUTES WITH JUVENTAS

Rhea-AI Summary

CASI Pharmaceuticals, Inc. (Nasdaq: CASI), a Cayman-based biopharmaceutical company, has reported a significant development in its ongoing dispute with Juventas. The company has filed a current report on Form 6-K with the SEC to disclose this material information. CASI, which focuses on developing and commercializing innovative therapeutics and pharmaceutical products, has made this filing to keep investors and stakeholders informed about the progress of the dispute. For detailed information, interested parties can access the full report through the SEC's EDGAR system using the provided link.

BEIJING, July 19, 2024 /PRNewswire/ -- CASI Pharmaceuticals, Inc. (Nasdaq: CASI), a Cayman incorporated biopharmaceutical company focused on developing and commercializing innovative therapeutics and pharmaceutical products, today reported that it has furnished a current report on Form 6-K to disclose material development relating to its dispute with Juventas. For details, please visit below link:

https://www.sec.gov/Archives/edgar/data/1962738/000110465924080958/tm2419826d1_6k.htm

About CASI Pharmaceuticals

CASI Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing and commercializing innovative therapeutics and pharmaceutical products in China, the United States, and throughout the world. The Company is 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 intends to execute its plan to become a leader by launching medicines in the Greater China market, leveraging the Company's China-based regulatory and commercial competencies and its global drug development expertise. The Company's operations in China are conducted through its wholly owned subsidiary, CASI Pharmaceuticals (China) Co., Ltd., located in Beijing, China. More information on CASI is available at www.casipharmaceuticals.com.

CASI Forward-Looking Statements:

This announcement and the current report on Form 6-K contain 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 and the current report on Form 6-K, 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 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, including but not limited to the following: the risk that we may be unable to continue as a going concern as a result of our inability to raise sufficient capital for our operational needs; the possibility that we may be delisted from trading on The Nasdaq Capital Market if we fail to satisfy applicable continued listing standards; the volatility in the market price of our ordinary shares; the risk of substantial dilution of existing shareholders in future share issuances; the difficulty of executing our business strategy on a global basis including China; our inability to enter into strategic partnerships for the development, commercialization, manufacturing and distribution of our proposed product candidates or future candidates; legal or regulatory developments in China that adversely affect our ability to operate in China, our lack of experience in manufacturing products and uncertainty about our resources and capabilities to do so on a clinical or commercial scale; risks relating to the commercialization, if any, of our products and proposed products (such as marketing, safety, regulatory, patent, product liability, supply, competition and other risks); our inability to predict when or if our product candidates will be approved for marketing by the U.S. Food and Drug Administration, European Medicines Agency, PRC National Medical Products Administration, or other regulatory authorities; our inability to enter into strategic partnerships for the development, commercialization, manufacturing and distribution of our proposed product candidates or future candidates; the risks relating to the need for additional capital and the uncertainty of securing additional funding on favorable terms; the risks associated with our product candidates, and the risks associated with our other early-stage products under development; the risk that result in preclinical and clinical models are not necessarily indicative of clinical results; uncertainties relating to preclinical and clinical trials, including delays to the commencement of such trials; our ability to protect our intellectual property rights; the lack of success in the clinical development of any of our products; and our dependence on third parties; the risks related to our dependence on Juventas to conduct the clinical development of CNCT19 and to partner with us to co-market CNCT19; risks related to our dependence on Juventas to ensure the patent protection and prosecution for CNCT19; risks relating to the commercialization, if any, of our proposed products (such as marketing, safety, regulatory, patent, product liability, supply, competition and other risks); risks relating to interests of our largest shareholder and our Chairman and CEO that differ from our other shareholders; and risks related to the development of a new manufacturing facility by CASI Pharmaceuticals (Wuxi) Co., Ltd. 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 current report on Form 6-K, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

EVOMELA^® is proprietary to Acrotech Biopharma Inc. and its affiliates. FOLOTYN^® is proprietary to Acrotech Biopharma Inc and its affiliates.

COMPANY CONTACT:
Rui Zhang
CASI Pharmaceuticals, Inc.
240.864.2643
ir@casipharmaceuticals.com

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SOURCE CASI Pharmaceuticals, Inc.

FAQ

What is the latest development in CASI Pharmaceuticals' dispute with Juventas?

CASI Pharmaceuticals has filed a Form 6-K with the SEC to disclose a material development in its ongoing dispute with Juventas. The details of this development are available in the SEC filing.

Where can investors find more information about CASI Pharmaceuticals' dispute with Juventas?

Investors can access detailed information about the dispute development by visiting the SEC's EDGAR system and reviewing the Form 6-K filed by CASI Pharmaceuticals on July 19, 2024.

What is CASI Pharmaceuticals' stock symbol and where is it traded?

CASI Pharmaceuticals trades on the Nasdaq stock exchange under the ticker symbol CASI.

What is the main focus of CASI Pharmaceuticals as a company?

CASI Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing innovative therapeutics and pharmaceutical products.