A director at CASI Pharmaceuticals Inc bought 55,573 shares at 4.133USD and the significance rating of the trade was 55/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two yea...
Edison Investment Research is terminating coverage on Hepion Pharmaceuticals (HEPA), Hurricane Energy (HUR), CASI Pharmaceuticals (CASI) and Monarch Mining Corporation (GBAR). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant.
Edison Investment Research is terminating coverage on Hepion Pharmaceuticals (HEPA), Hurricane Energy (HUR), CASI Pharmaceuticals (CASI) and Monarch Mining Corporation (GBAR). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant.
CASI’s Q221 results were driven by strong sales momentum in Evomela, its proprietary formulation of melphalan for multiple myeloma (MM) in China. The in-clinic pipeline continues to make steady progress, led by CNCT19 (CD19 targeting CAR-T therapy for B-ALL and B-NHL) nearing completion of pivotal Phase II studies. We have raised our FY21–23 revenue estimates, as well as peak sales potential for Evomela, acknowledging its rapid growth in the past few quarters and CASI’s guidance upgrade for 2021...
CASI’s Q221 results were driven by strong sales momentum in Evomela, its proprietary formulation of melphalan for multiple myeloma (MM) in China. The in-clinic pipeline continues to make steady progress, led by CNCT19 (CD19 targeting CAR-T therapy for B-ALL and B-NHL) nearing completion of pivotal Phase II studies. We have raised our FY21–23 revenue estimates, as well as peak sales potential for Evomela, acknowledging its rapid growth in the past few quarters and CASI’s guidance upgrade for 2021...
CASI continues to execute on multiple fronts and demonstrates that it has become a multifaceted company. It is expanding the sales of Evomela, its proprietary formulation of melphalan for multiple myeloma in China. Simultaneously, it is adding to its pipeline with new licensing deals and is executing on its development strategy, with four drug candidates currently in the clinic.
The year 2020 was one of challenges for CASI, as it was for the rest of the world, but the company was able to continue to advance the commercialization of Evomela and jumpstart its clinical development engine. CASI is continuing to execute on its strategy of opportunistically in-licensing assets and the recent trend has been to earlier-stage assets such as its latest acquisition, the Chinese rights to the Phase I broad spectrum anti-cancer drug CB-5339, announced in March.
CASI has announced as part of its preliminary results that it sold $4.8m worth of Evomela in Q420 and approximately $15m for the year (unaudited), exceeding the company guidance of $14m and our estimate of $14.4m. The company stated that it is targeting 50% growth in Evomela sales in 2021. Additionally, in 2021 the company will be jump starting its clinical development engine as it is expected to initiate clinical studies on a majority of its portfolio during the year.
CASI announced on 19 November 2020 that its partner Juventas has initiated pivotal studies of the CD19 CAR-T product CNCT19 for the treatment of B-cell non-Hodgkin lymphoma (B-NHL). The clinical study will be run by Juventas at its expense, which will be supported by its recent $65m financing round, and the two companies will subsequently co-market in China if the product is approved. Juventas has guided towards potential approval in Q422.
CASI announced that it has in licensed the Greater Chinese rights to BI-1206 from BioInvent, which is being investigated in Phase I trials for the treatment of non-Hodgkin lymphoma (NHL) and solid tumors. The drug has a novel target FcγRIIB, an antibody receptor on leukocytes with checkpoint-like properties. The drug is currently in two dose escalation studies for NHL and solid tumors in combination with rituximab and Keytruda, respectively.
CASI announced on 29 September 2020 that it had adjusted its licence and marketing agreement with Juventas, the developer of the CAR-T therapy CNCT19. Under the new agreement, the two companies will co-market the product and have a profit-sharing agreement, as opposed to the previous model in which CASI would have owed milestones and royalties (all undisclosed). The new agreement should make Juventas more viable as a standalone entity, capable of raising independent capital to support its intern...
CASI reported sales of $2.6m for Evomela in Q220, down slightly from Q1 ($3.4m). The lower revenue was due to logistics disruptions as the company shifted to a new supplier for the drug as well as impacts of COVID-19. Management indicates that the new suppler will substantially improve cost-of-goods. The company is guiding to sales of at least $10m for 2020, but believes that this is a conservative estimate.
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.