CASI Pharmaceuticals shares are trading higher after the company announced plans to submit an Investigational New Drug application to the FDA for CID-103 for the treatment of antibody-mediated rejection in kidney transplant recipients. Also, the company received a preliminary non-binding proposal letter from CEO and Chairman Wei-Wu He to acquire its business operations in China.
Portfolio Pulse from Benzinga Newsdesk
CASI Pharmaceuticals shares are trading higher following the announcement of plans to submit an Investigational New Drug application to the FDA for CID-103, aimed at treating antibody-mediated rejection in kidney transplant recipients. Additionally, the company received a preliminary non-binding proposal from CEO and Chairman Wei-Wu He to acquire its business operations in China.
June 27, 2024 | 12:49 pm
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CASI Pharmaceuticals shares are trading higher due to two major announcements: the submission of an IND application for CID-103 to the FDA and a proposal from CEO Wei-Wu He to acquire its China operations.
The submission of an IND application for CID-103 is a significant step in drug development, potentially leading to future revenue streams if approved. Additionally, the proposal from the CEO to acquire the China operations indicates strategic moves that could unlock value for shareholders.
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