CASI(US:CASI)2025-08-29 20:30Financial Performance - Revenues for Q2 2025 were $4.2 million, a 5% increase from $4.0 million in Q2 2024[8] - Revenues for Q2 2025 increased to $4,175,000, up 4.9% from $3,979,000 in Q2 2024[21] - Gross profit for the first half of 2025 was $5,677,000, representing a 46.4% increase compared to $3,873,000 in the same period of 2024[21] - Total operating expenses rose to $13,183,000 in Q2 2025, up 21.4% from $10,856,000 in Q2 2024[21] - Net loss for Q2 2025 was $13.4 million, compared to $7.0 million in Q2 2024[11] - Net loss for Q2 2025 was $13,375,000, compared to a net loss of $6,965,000 in Q2 2024, reflecting a 92.5% increase in losses[21] - Net loss per share for the first half of 2025 was $1.56, compared to $1.23 in the same period of 2024[21] - Total comprehensive loss for the first half of 2025 was $24,591,000, compared to $16,713,000 in the same period of 2024, indicating a significant increase in overall losses[21] Expenses - Cost of revenue for Q2 2025 was $2.1 million, an 11% increase from $1.9 million in Q2 2024[8] - Research and development expenses for Q2 2025 were $1.7 million, up 31% from $1.3 million in Q2 2024, primarily for CID-103 development[9] - Research and development expenses for Q2 2025 were $1,724,000, an increase from $1,254,000 in Q2 2024[21] - Selling and marketing expenses for Q2 2025 were $5.0 million, a 14% increase from $4.4 million in Q2 2024, due to increased marketing efforts[10] - Selling and marketing expenses increased to $4,960,000 in Q2 2025, compared to $4,425,000 in Q2 2024[21] - The company reported a foreign exchange loss of $415,000 in Q2 2025, compared to a gain of $265,000 in Q2 2024[21] Cash Position - Cash and cash equivalents as of June 30, 2025, were $6.7 million, down from $13.5 million as of December 31, 2024[12] Business Developments - The company entered into a definitive agreement to sell 100% equity interests in its Chinese subsidiaries for an aggregate purchase price of $20.0 million[5] - FDA clearance was received for the IND application of CID-103 for antibody-mediated rejection in renal allografts, with a Phase 1 study planned for Q3 2025[3][6] - CID-103 is currently in a Phase 1/2 dose-escalation study for immune thrombocytopenic purpura (ITP)[14] - The company expects to retain rights related to CID-103 in Japan and non-Asian regions after the asset divestiture[7] Shareholder Information - The weighted average number of ordinary shares outstanding increased to 15,505,897 in Q2 2025 from 13,519,328 in Q2 2024[21]