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CASI Pharmaceuticals ( (CASI) ) has provided an announcement.
On January 21, 2025, CASI Pharmaceuticals announced that it received an asset freezing order from the Fourth Intermediate People’s Court of Beijing Municipality on January 17, 2025. The order is related to an ongoing arbitration proceeding with Juventas Cell Therapy Ltd. regarding a dispute over the commercialization agreements of CNCT19. The court’s decision allows the freezing of up to RMB 250 million of CASI’s assets, specifically targeting the transfer of equity interests in its subsidiaries in China. Despite this, CASI does not anticipate significant adverse effects on its day-to-day operations and intends to continue asserting its rights vigorously in the legal process. The outcome of the arbitration and the resolution of the dispute with Juventas remain uncertain.
More about CASI Pharmaceuticals
CASI Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of innovative therapeutics addressing unmet medical needs. The company operates primarily in the biopharmaceutical industry, with a market focus on advancing healthcare solutions.
YTD Price Performance: -12.08%
Average Trading Volume: 43,419
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $35.11M
See more data about CASI stock on TipRanks’ Stock Analysis page.
