What Drove CASI Pharmaceuticals' 24% Rise After Hours? - CASI Pharmaceuticals (NASDAQ:CASI)

Core Viewpoint - CASI Pharmaceuticals Inc. is transitioning to OTC Markets Group following a formal delisting from Nasdaq, which has led to a significant after-hours stock price increase of 24.48% to $0.25 [1][2]. Group 1: Delisting and Transition - The Nasdaq Hearings Panel issued a formal delisting determination due to CASI's failure to meet continued listing requirements, with trading suspension starting Thursday [2]. - CASI will not appeal the delisting decision and expects its ordinary shares to be quoted on OTC Markets Group, allowing trading to continue [2]. Group 2: Impact on Operations - CASI stated that the delisting carries "no significant impact" on its operations [3]. Group 3: Trading Metrics and Performance - CASI Pharmaceuticals has a market capitalization of $4.26 million, with a 52-week high of $3.08 and a 52-week low of $0.21 [4]. - The stock has experienced a decline of 91.13% over the past 12 months, closing the regular session down 74.06% at $0.21, currently at its annual low [4]. - The Relative Strength Index (RSI) of CASI stands at 18.40, indicating a negative price trend across all time frames according to Benzinga's Edge Stock Rankings [4][5].