CASI Pharmaceuticals (CASI) Up on Buyout Offer for China Business

Zacks06-27

CASI Pharmaceuticals, Inc. CASI announced that its board of directors has received a proposal from the chairman of the company for acquiring its business operations in China. Shares of this ...

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Shares of this ...</p>\n\n<a href=\"https://finance.yahoo.com/news/casi-pharmaceuticals-casi-buyout-offer-134200254.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CASI Pharmaceuticals (CASI) Up on Buyout Offer for China Business</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCASI Pharmaceuticals (CASI) Up on Buyout Offer for China Business\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-06-27 21:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/casi-pharmaceuticals-casi-buyout-offer-134200254.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>CASI Pharmaceuticals, Inc. CASI announced that its board of directors has received a proposal from the chairman of the company for acquiring its business operations in China. Shares of this ...</p>\n\n<a href=\"https://finance.yahoo.com/news/casi-pharmaceuticals-casi-buyout-offer-134200254.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CGEN","symbol_name":"Compugen医疗","start_time":0,"source_url":"https://finance.yahoo.com/news/casi-pharmaceuticals-casi-buyout-offer-134200254.html","article_id":"2446066554","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/7zIelLdHLRtVfLSfNT5rgw--~B/aD01OTE7dz05MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/9210701387ebf346091e3459e7ff01de"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2446066554","pubTimestamp":1719495720,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"CASI Pharmaceuticals, Inc. CASI announced that its board of directors has received a proposal from the chairman of the company for acquiring its business operations in China. Shares of this biopharmaceutical company are soaring in pre-market trading on the news.CASI Pharmaceuticals is focused on developing and commercializing innovative drugs in China, the United States, and the rest of the world.Dr. Wei-Wu He, CASI’s chairman of the board and CEO, sent a preliminary non-binding proposal letter, dated Jun 21, 2024, to the company for acquiring its business in China. He also made a proposal to acquire CASI’s all license-in, distribution and related rights in Asia  related to its pipeline products, including but not limited to Evomela, Folotyn, Cnct19, Bi-1206, Cb-5339, Cid-103 And Thiotepa, for $40.0 million.The purchase price includes an assumption of up to $20.0 million of debt.Subsequently, the board has formed a special committee, comprised solely of incumbent independent directors,","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"CGEN":"Compugen医疗","BK4588":"碎股","CASI":"凯信远达","BK4006":"钢铁","BK4139":"生物科技","ALXO":"ALX Oncology Holdings","ANVS":"Annovis Bio, Inc.","BK4121":"生命科学工具和服务","BK4585":"ETF&股票定投概念","AMR":"Alpha Metallurgical Resources Inc"},"translate_title":"CASI Pharmaceuticals(CASI)提高对中国业务的收购要约","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ALXO":1,"AMR":1,"ANVS":1,"CASI":1,"CGEN":1},"content_text":"CASI Pharmaceuticals, Inc. CASI announced that its board of directors has received a proposal from the chairman of the company for acquiring its business operations in China. Shares of this biopharmaceutical company are soaring in pre-market trading on the news.\nCASI Pharmaceuticals is focused on developing and commercializing innovative drugs in China, the United States, and the rest of the world.\nDr. Wei-Wu He, CASI’s chairman of the board and CEO, sent a preliminary non-binding proposal letter, dated Jun 21, 2024, to the company for acquiring its business in China. He also made a proposal to acquire CASI’s all license-in, distribution and related rights in Asia (excluding Japan) related to its pipeline products, including but not limited to Evomela, Folotyn, Cnct19, Bi-1206, Cb-5339, Cid-103 And Thiotepa, for $40.0 million.\nThe purchase price includes an assumption of up to $20.0 million of debt.\nSubsequently, the board has formed a special committee, comprised solely of incumbent independent directors, to evaluate the proposal and other such strategic and business alternatives available to CASI regarding its business operations in China.\nThe board and the committee cautioned the company’s shareholders and others considering trading the company's securities that no decision has been made concerning the proposal.\nShares of the company have lost 0.7% in the past three months compared with the industry’s decline of 5.8%.\nImage Source: Zacks Investment Research\nConcurrently, CASI Pharmaceuticals announced that it is planning to submit an investigational new drug (IND) application to the FDA for CID-103 for the treatment of antibody-mediated rejection (AMR) in kidney transplant recipients by the end of 2024.\nThe candidate is a fully human IgG1 anti-CD38 monoclonal antibody, recognizing a unique epitope that has demonstrated an encouraging preclinical efficacy and safety profile compared to other anti-CD38 monoclonal antibodies.\nThe company expects that the proceeds from its private placement financing, together with its existing cash and cash equivalents, should be sufficient to complete the phase II clinical trial for AMR.\nCASI has also entered into securities purchase agreements with certain investors for a private investment in public equity financing that is expected to result in aggregate gross proceeds of approximately $15.0 million.\nLast month, the company announced that it has received FDA clearance on the IND application for CID-103 in immune thrombocytopenia.\nZacks Rank & Stocks to Consider\nCASI currently carries a Zacks Rank #5 (Strong Sell).\nSome better-ranked stocks from the drug/biotech industry are ALX Oncology Holdings ALXO, Annovis Bio ANVS and Compugen CGEN, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nIn the past 30 days, the Zacks Consensus Estimate for ALX Oncology’s 2024 loss per share has remained constant at $2.89. During the same period, the consensus estimate for 2025 loss per share has remained constant at $2.73.\nALX Oncology’s earnings beat estimates in two of the trailing four quarters and missed twice, delivering an average negative surprise of 8.83%.\nIn the past 30 days, the Zacks Consensus Estimate for Annovis’ 2024 loss per share has remained constant at $2.46. During the same period, the consensus estimate for 2025 loss per share has remained constant at $1.95.\nANVS beat on earnings in three of the trailing four quarters and missed once, delivering an average negative surprise of 1.39%.\nIn the past 30 days, the Zacks Consensus Estimate for Compugen’s 2024 earnings per share has increased from 2 to 5 cents. The consensus estimate for 2025 loss per share is currently pegged at 11 cents. Year to date, shares of CGEN have lost 11.6%.\nCGEN’s earnings beat estimates in three of the trailing four quarters and missed once, delivering an average surprise of 5.79%. \nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nCompugen Ltd. (CGEN) : Free Stock Analysis Report\nCASI Pharmaceuticals Inc. (CASI) : Free Stock Analysis Report\nAnnovis Bio, Inc. (ANVS) : Free Stock Analysis Report\nALX Oncology Holdings Inc. (ALXO) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2446066554"}