CASI Pharmaceuticals: Strategic Divestment and CID-103 Potential Drive Buy Rating

Sean Lee CFA, an analyst from H.C. Wainwright, maintained the Buy rating on CASI Pharmaceuticals (CASI – Research Report). The associated price target is $4.00.

Sean Lee CFA has given his Buy rating due to a combination of factors surrounding CASI Pharmaceuticals’ strategic focus and potential market opportunities. The company is in the process of divesting its Chinese business, which includes a proposal to sell for $20 million, allowing CASI to concentrate on its promising pipeline products. This divestment is expected to be completed by the end of the third quarter of 2025, positioning the company to focus on its innovative CID-103 product.
CID-103, a full human anti-CD38 monoclonal antibody, has demonstrated superior activity and reduced toxicity compared to existing treatments in preclinical and Phase 1 studies. CASI is currently conducting a Phase 1/2 study for CID-103 targeting immune thrombocytopenia, with results anticipated in late 2025 or early 2026. Additionally, the company plans to explore CID-103 for other indications, potentially tapping into a market exceeding $3 billion annually. Despite financial challenges, including a net loss and increased competition for Evomela, the company’s cash reserves and strategic focus on CID-103 support the Buy rating.