CASI Pharmaceuticals, Inc. (CASI) | Investment Case

1. Company Snapshot

1.a. Company Description

CASI Pharmaceuticals, Inc., a biopharmaceutical company, develops and commercializes therapeutics and pharmaceutical products in China, the United States, and internationally.It offers EVOMELA, an intravenous formulation of melphalan for use as a conditioning treatment prior to stem cell transplantation, and as a palliative treatment for patients with multiple myeloma.The company's product pipeline includes CNCT19, an autologous CD19 CAR-T investigative product for the treatment of patients with B-cell acute lymphoblastic leukemia (B-ALL) and B-cell non-Hodgkin lymphoma (B-NHL); BI-1206 that is in Phase I/II trial in combination with anti-PD1 therapy Keytruda for solid tumors, and in a Phase I/IIa trial in combination with MabThera (rituximab) in patients with relapsed/refractory NHL; and CB-5339, which is in Phase I clinical trial for acute myeloid leukemia and myelodysplastic syndrome.

Its product pipeline also comprises CID-103 for the treatment of patients with multiple myeloma; Thiotepa, which has multiple indications including use as a conditioning treatment for various allogeneic haemopoietic stem cell transplants; and Octreotide long acting injectable formulations for the treatment of acromegaly and for the control of symptoms associated with various neuroendocrine tumors.The company has licensing agreements with Juventas Cell Therapy Ltd; BioInvent International AB; Black Belt Therapeutics Limited; and Cleave Therapeutics, Inc.It also has distribution agreements with China Resources Pharmaceutical Commercial Group International Trading Co., Ltd; Pharmathen Global BV; and Riemser Pharma GmbH.

The company was formerly known as EntreMed, Inc.and changed its name to CASI Pharmaceuticals, Inc.in June 2014.

CASI Pharmaceuticals, Inc.was incorporated in 1991 and is based in Rockville, Maryland.

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1.b. Last Insights on CASI

CASI Pharmaceuticals' recent performance was negatively impacted by a lackluster Q4 2024 earnings release, which reported a decline in revenue and a widening net loss. The company's financial struggles were further exacerbated by a significant increase in research and development expenses. Additionally, the absence of any notable product launches or pipeline updates in the recent quarter contributed to the negative sentiment.

1.c. Company Highlights

Last Price	0.96
Change Percentage	-1.86%
Open	1.06
Previous Close	0.98
Market Cap ( Millions)	15
Volume	33918
Year High	3.97
Year Low	0.93
M A 50	1.47
M A 200	1.79

FCF Yield	0.00%
Dividend Yield	0.00%
ROE	358.32%
Debt / Equity	-65.95%
Net Debt / EBIDTA	-34.62%
Price To Book	-0.54
Price Earnings Ratio	-0.31
Price To FCF	0
Price To sales	0.55
EV / EBITDA	-0.71

2. Transcript Summary

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3. NewsRoom

CASI Pharmaceuticals Announces Changes in Board Governance

Nov -19

Source: accessnewswire.com

CASI Pharmaceuticals Announces Third Quarter 2025 Business and Financial Results

Nov -14

Source: accessnewswire.com

CASI Pharmaceuticals Receives and Appeals Delisting Determination from NASDAQ

Nov -10

Source: accessnewswire.com

CASI Pharmaceuticals to Participate at Guggenheim Healthcare Innovation Conference

Nov -04

Source: accessnewswire.com

CASI Pharmaceuticals Announces Upcoming Presentation of Clinical Results for CID-103 at the 67th American Society of Hematology (ASH) Annual Meeting

Nov -03

Source: accessnewswire.com

CASI Pharmaceuticals Appoints James Huang to Board of Directors

Sep -26

Source: accessnewswire.com

CASI Pharmaceuticals Announces Safety Monitoring Committee Recommendation to Escalate CID-103 Dose to Next Cohort in Phase 1 Immune Thrombocytopenia (ITP) Study

Sep -08

Source: accessnewswire.com

CASI Pharmaceuticals to Present at H.C. Wainwright 27th Annual Global Investment Conference

Sep -03

Source: accessnewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (12.40%)

6. Segments

Pharmaceutical Products

Expected Growth: 12.4%

Growing demand for cancer treatments, increasing adoption of CAR-T cell therapies, and expanding product pipeline drive CASI Pharmaceuticals' growth. Strong partnerships and strategic collaborations also contribute to the company's growth prospects.

7. Detailed Products

CNCT19

CNCT19 is a CD19-targeted CAR-T cell therapy for the treatment of B-cell malignancies, including acute lymphoblastic leukemia (ALL) and diffuse large B-cell lymphoma (DLBCL).

CID-103

CID-103 is a novel anti-CD38 monoclonal antibody for the treatment of multiple myeloma and other hematological malignancies.

CNCT053

CNCT053 is a BCMA-targeted CAR-T cell therapy for the treatment of multiple myeloma.

EVOMELA

EVOMELA is a melphalan hydrochloride for injection, a chemotherapy agent used to treat multiple myeloma and epithelial ovarian cancer.

8. CASI Pharmaceuticals, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

CASI Pharmaceuticals, Inc. operates in a niche market with limited substitutes, but the threat of substitutes is still present due to the ongoing research and development in the pharmaceutical industry.

Bargaining Power Of Customers

CASI Pharmaceuticals, Inc. has a diverse customer base, which reduces the bargaining power of individual customers. Additionally, the company's products are specialized, making it difficult for customers to switch to alternative products.

Bargaining Power Of Suppliers

CASI Pharmaceuticals, Inc. relies on a few key suppliers for raw materials and services. While the company has some bargaining power due to its size, the suppliers also have some leverage due to the specialized nature of the products.

Threat Of New Entrants

The pharmaceutical industry has high barriers to entry, including significant regulatory hurdles and high research and development costs. This makes it difficult for new entrants to enter the market and compete with CASI Pharmaceuticals, Inc.

Intensity Of Rivalry

The pharmaceutical industry is highly competitive, with many established players competing for market share. CASI Pharmaceuticals, Inc. faces intense competition from other companies with similar products and technologies.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	44.81%
Debt Cost	3.95%
Equity Weight	55.19%
Equity Cost	6.10%
WACC	5.13%
Leverage	81.20%

11. Quality Control: CASI Pharmaceuticals, Inc. passed 1 out of 9 key points

Strong Liquidity

Low Deb

Strong Interest Coverage

Healthy Cash Flow

Operating Inefficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Tarsus Pharmaceuticals

A-Score: 4.5/10

Value: 6.4

Growth: 3.2

Quality: 5.2

Yield: 0.0

Momentum: 9.0

Volatility: 3.3

1-Year Total Return ->

Xoma

A-Score: 4.3/10

Value: 6.4

Growth: 2.0

Quality: 4.6

Yield: 0.0

Momentum: 9.0

Volatility: 3.7

1-Year Total Return ->

CASI Pharmaceuticals

A-Score: 3.5/10

Value: 9.6

Growth: 5.3

Quality: 5.2

Yield: 0.0

Momentum: 0.0

Volatility: 0.7

1-Year Total Return ->

Altimmune

A-Score: 3.3/10

Value: 6.8

Growth: 3.4

Quality: 3.2

Yield: 0.0

Momentum: 5.5

Volatility: 1.0

1-Year Total Return ->

Nutriband

A-Score: 3.0/10

Value: 6.2

Growth: 3.6

Quality: 3.8

Yield: 0.0

Momentum: 3.5

Volatility: 0.7

1-Year Total Return ->

Nurix Therapeutics

A-Score: 2.6/10

Value: 6.6

Growth: 1.9

Quality: 4.8

Yield: 0.0

Momentum: 0.5

Volatility: 2.0

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

12.27%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

5.13%

CASI Pharmaceuticals, Inc. - US14757U2087

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on CASI

1.c. Company Highlights

Lower Quality

Medium Volatility

Stable Momentum

Earnings Miss

Revenues Miss

Strong Momentum

Earnings Beats

Revenues Beats

Weak Momentum

Fairly Valued

Cheaper

More Volatile

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (12.40%)

6. Segments

Pharmaceutical Products

Expected Growth: 12.4%

7. Detailed Products

CNCT19

CID-103

CNCT053

EVOMELA

8. CASI Pharmaceuticals, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: CASI Pharmaceuticals, Inc. passed 1 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

0.96$

Current Price

0.96$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA