CASI Pharmaceuticals Closes First US$5 Million Tranche of Convertible Note Financing

The latest announcement is out from CASI Pharmaceuticals ( (CASI) ).

On December 30, 2025, CASI Pharmaceuticals announced that it had closed the first tranche of a US$20 million convertible note financing, issuing a US$5 million note to ETP Global III Fund LP, a partnership controlled by Dr. Wei-Wu He. The three-year note carries a 12% annual interest rate and is convertible into CASI ordinary shares at a price based on the volume-weighted average trading price over a five-day period, subject to a cap of US$2 and a floor of US$1 per share, with conversion rights available to CASI at maturity and to the investor from the 91st day after issuance, providing the company with near-term funding flexibility while potentially diluting existing shareholders over time.

The most recent analyst rating on (CASI) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on CASI Pharmaceuticals stock, see the CASI Stock Forecast page.

Spark’s Take on CASI Stock

According to Spark, TipRanks’ AI Analyst, CASI is a Underperform.

CASI Pharmaceuticals has a low overall stock score due to significant financial challenges, including declining revenue and increasing losses, coupled with bearish technical indicators and poor valuation metrics. The absence of positive earnings call data or corporate events further weighs on the score.

To see Spark’s full report on CASI stock, click here.

More about CASI Pharmaceuticals

CASI Pharmaceuticals, Inc., listed on Nasdaq, is a clinical-stage biopharmaceutical company based in Beijing that is developing CID-103, an anti-CD38 monoclonal antibody targeting patients with organ transplant rejection and autoimmune diseases.

Average Trading Volume: 41,578

Technical Sentiment Signal: Sell

Current Market Cap: $11.97M

Learn more about CASI stock on TipRanks’ Stock Analysis page.