CASI PHARMACEUTICALS ANNOUNCES SECOND QUARTER 2024 BUSINESS AND FINANCIAL RESULTS
Business Strategy Update: CASI Pharmaceuticals has shifted its focus towards developing therapeutics for organ transplant rejection and autoimmune diseases, particularly through its anti-CD38 antibody, CID-103. The company anticipates initiating clinical studies for this treatment by the end of 2024.
Financial Performance: For Q2 2024, CASI reported a revenue of $4 million, down from $9.8 million in Q2 2023, with a net loss of $7 million compared to $10.1 million the previous year. The company also secured $15 million in private placement financing to support its strategic initiatives.
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Premarket Trading Activity: Notable activity is observed in premarket trading as of 6.50 a.m. ET on Monday, indicating potential opportunities before the market opens.
Importance for Traders: Premarket trading allows active traders to identify possible breakouts, reversals, or price swings, making it crucial for analyzing momentum heading into the regular session.
Stocks Performance: Some stocks are showing significant percentage increases while others are experiencing notable declines during Monday's premarket session.
Author's Perspective: The views expressed in the article reflect the author's opinions and do not necessarily represent those of Nasdaq, Inc.
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Market Outlook: The company's stock has underperformed with a 30.8% decline this year, and its future performance will depend on management's commentary and revisions to earnings estimates, currently rated as Zacks Rank #3 (Hold).
HC Wainwright & Co. Reiterates Buy on CASI Pharmaceuticals, Maintains $4 Price Target
Real-time Intelligence for Traders: Benzinga Pro offers the fastest news alerts and exclusive stories to help traders make informed decisions in the stock market.
Community of Serious Traders: Over 10,000 traders are part of the Benzinga Pro community, benefiting from accurate market intelligence and insights.
CASI Pharma Receives New $20 Mln Buyout Proposal For China Unit And Drug Rights
CASI Pharmaceuticals Proposal: CASI Pharmaceuticals Inc. announced that its Special Committee received an updated non-binding proposal from CEO Dr. Wei-Wu He to acquire the company's operations in China for $20 million, which includes assuming $20 million in debt and rights to certain products in Asia.
Evaluation of Proposal: The board has formed a Special Committee to evaluate this proposal and other strategic options, emphasizing that no decisions have been made yet and there is no guarantee that a definitive agreement will be reached.
Casi Pharmaceuticals files $200M mixed securities shelf
Casi Pharmaceuticals Filing: Casi Pharmaceuticals (CASI) has filed a $200 million mixed securities shelf registration, allowing them to raise capital through various types of securities.
Recent Performance and News: The company is currently facing challenges, including a license termination dispute regarding Evomela® and mixed financial results for Q3 2024, with an EPS of 55 cents compared to a loss of 35 cents last year.
Dayforce Shares Surge Approximately 21%; Check Out 20 Stocks Making Moves in Premarket Trading
Dayforce Inc Acquisition Talks: Shares of Dayforce Inc rose 21.4% in pre-market trading following reports that Thoma Bravo is in discussions to acquire the company.
Notable Gainers: Other stocks experiencing significant gains include Propanc Biopharma (up 253%), Adaptimmune Therapeutics (up 70.3%), and DIH Holding US (up 43.4%).
Significant Losers: TPI Composites saw a drastic decline of 51.1%, while SRx Health Solutions and Empery Digital also faced notable drops of 25.8% and 22.2%, respectively.
Market Overview: The article highlights various stocks' movements in pre-market trading, showcasing both substantial gainers and losers, reflecting market volatility.
Premarket Stock Movements: PPCB, BTAI, TNXP, DAY, TPIC, and Other Notable Gainers and Losers
Premarket Trading Activity: Notable activity is observed in premarket trading as of 6.50 a.m. ET on Monday, indicating potential opportunities before the market opens.
Importance for Traders: Premarket trading allows active traders to identify possible breakouts, reversals, or price swings, making it crucial for analyzing momentum heading into the regular session.
Stocks Performance: Some stocks are showing significant percentage increases while others are experiencing notable declines during Monday's premarket session.
Author's Perspective: The views expressed in the article reflect the author's opinions and do not necessarily represent those of Nasdaq, Inc.
Xenetic Biosciences (XBIO) Reports Q2 Loss, Misses Revenue Estimates
Earnings Performance: Xenetic Biosciences reported a quarterly loss of $0.45 per share, better than the expected loss of $0.64, marking a 29.69% earnings surprise; however, revenues of $0.59 million fell short of estimates by 7.81%.
Market Outlook: The company's stock has underperformed with a 30.8% decline this year, and its future performance will depend on management's commentary and revisions to earnings estimates, currently rated as Zacks Rank #3 (Hold).
HC Wainwright & Co. Reiterates Buy on CASI Pharmaceuticals, Maintains $4 Price Target
Real-time Intelligence for Traders: Benzinga Pro offers the fastest news alerts and exclusive stories to help traders make informed decisions in the stock market.
Community of Serious Traders: Over 10,000 traders are part of the Benzinga Pro community, benefiting from accurate market intelligence and insights.
CASI Pharma Receives New $20 Mln Buyout Proposal For China Unit And Drug Rights
CASI Pharmaceuticals Proposal: CASI Pharmaceuticals Inc. announced that its Special Committee received an updated non-binding proposal from CEO Dr. Wei-Wu He to acquire the company's operations in China for $20 million, which includes assuming $20 million in debt and rights to certain products in Asia.
Evaluation of Proposal: The board has formed a Special Committee to evaluate this proposal and other strategic options, emphasizing that no decisions have been made yet and there is no guarantee that a definitive agreement will be reached.
Casi Pharmaceuticals files $200M mixed securities shelf
Casi Pharmaceuticals Filing: Casi Pharmaceuticals (CASI) has filed a $200 million mixed securities shelf registration, allowing them to raise capital through various types of securities.
Recent Performance and News: The company is currently facing challenges, including a license termination dispute regarding Evomela® and mixed financial results for Q3 2024, with an EPS of 55 cents compared to a loss of 35 cents last year.
