CASI Pharmaceuticals Eyes IND Submission and China Business Sale

CASI Pharmaceuticals (CASI) has released an update.

CASI Pharmaceuticals is gearing up to submit an IND application to the FDA for CID-103, a promising new anti-CD38 monoclonal antibody for treating kidney transplant rejection, by the end of 2024, banking on sufficient funds from recent financing to cover Phase II clinical trials. Additionally, the company’s board is assessing a $40 million offer from its CEO to buy out the China business operations, including rights to several pipeline products, amid a caution to shareholders that the deal’s conclusion is not yet certain.

For further insights into CASI stock, check out TipRanks’ Stock Analysis page.