CASI(US:CASI)2025-11-14 21:30Financial Performance - Revenues for Q3 2025 were $3.1 million, a 60% decrease from $7.8 million in Q3 2024, primarily due to estimated goods returns for EVOMELA[8] - Revenues for Q3 2025 decreased to $3,075,000 from $7,793,000 in Q3 2024, representing a decline of 60.5%[24] - Net loss for Q3 2025 was $10.9 million, compared to $8.4 million in Q3 2024, attributed to the decrease in revenues[11] - Net loss for Q3 2025 increased to $10,883,000 compared to a net loss of $8,395,000 in Q3 2024, an increase of 29.7%[24] - Net loss per share (basic and diluted) for Q3 2025 was $(0.67), compared to $(0.55) in Q3 2024, indicating a worsening loss per share[24] - Total comprehensive loss for the nine months ended September 2025 was $35,512,000, compared to $25,156,000 in the same period of 2024, an increase of 41.1%[24] Expenses - Cost of revenue for Q3 2025 was $2.4 million, a 35% decrease compared to $3.7 million in the same period last year[9] - General and administrative expenses for Q3 2025 were $4.9 million, a 14% decrease from $5.7 million in Q3 2024[10] - Research and development expenses for Q3 2025 were $1.4 million, stable compared to $1.5 million in the same period last year[9] - Research and development expenses for the nine months ended September 2025 were $5,073,000, slightly down from $5,251,000 in the same period of 2024, a decrease of 3.4%[24] - General and administrative expenses for the nine months ended September 2025 increased to $18,709,000 from $16,456,000 in 2024, an increase of 7.6%[24] - Selling and marketing expenses for the nine months ended September 2025 were $13,793,000, up from $13,069,000 in 2024, an increase of 5.5%[24] - Total operating expenses for Q3 2025 were $11,383,000, a reduction from $12,509,000 in Q3 2024, reflecting a decrease of 9.0%[24] Cash and Financing - As of September 30, 2025, cash and cash equivalents were $4.7 million, down from $13.5 million as of December 31, 2024[11] - The company raised approximately $5.7 million from an at-the-market facility during Q3 2025[7] Research and Development - CID-103 is in a Phase 1 dose-escalation study for immune thrombocytopenia (ITP), with dosing at the highest dose of 900 mg ongoing[6] - The company plans to present results of the ongoing Phase 1 study of CID-103 at the ASH 2025 meeting on December 7, 2025[3] Business Strategy - The company is targeting completion of the divestiture of its China business in Q2 2026[6] Shareholder Information - The weighted average number of ordinary shares outstanding increased to 16,049,321 in Q3 2025 from 15,294,393 in Q3 2024, an increase of 4.9%[24]