Core Viewpoint - CASI Pharmaceuticals has announced a $20 million investment through a convertible note purchase agreement to fund a Phase 1 study in China for renal allograft antibody-mediated rejection (AMR) and to develop a stable, high concentration protein solution for subcutaneous formulation [1][5]. Group 1: Investment Details - The investment will be made in tranches and is subject to multiple closings, contingent on the Purchaser's satisfaction with the Company's business results and financial status [2]. - Each convertible note will mature in 36 months, bearing an interest rate of 12% per annum, and can be converted into ordinary shares at a specified conversion price [3]. Group 2: Company Overview - CASI Pharmaceuticals is a clinical-stage biopharmaceutical company developing CID-103, an anti-CD38 monoclonal antibody aimed at treating organ transplant rejection and autoimmune diseases [4][5]. - CID-103 has shown promising pre-clinical efficacy and clinical safety, and the company has received FDA IND clearance for a Phase 1 study in the U.S. [5].

Core Viewpoint - CASI Pharmaceuticals has received a delisting determination from Nasdaq due to its market value of listed securities falling below the minimum requirement of $35 million for 30 consecutive trading days, and the company has appealed this decision to regain compliance [2][3]. Company Update - CASI Pharmaceuticals, Inc. is focused on developing CID-103, an anti-CD38 monoclonal antibody aimed at treating organ transplant rejection and autoimmune diseases [5][6]. - The company was notified on May 5, 2025, that it did not comply with Nasdaq Listing Rule 5550(b)(2) due to its market value falling below the required threshold [2]. - CASI has appealed the delisting determination and requested a hearing to present a plan for regaining compliance, which will temporarily stay the suspension of its securities [3][4]. Product Development - CID-103 is a fully human IgG1 monoclonal antibody that has shown promising pre-clinical efficacy and clinical safety compared to other anti-CD38 monoclonal antibodies [6]. - The company has received FDA IND clearance to conduct a Phase 1 study in the U.S. for renal allograft antibody-mediated rejection, with plans to enroll the first patient in the first quarter of 2026 [6]. - CASI is also actively recruiting patients for an ongoing Phase 1 study in immune thrombocytopenia (ITP) and is exploring technologies for developing a stable, high concentration protein solution for subcutaneous injection [6].