CASI Pharmaceuticals, Inc. (NASDAQ: CASI) has disclosed today that its partner Juventas has started the Phase II registration study for CNCT19 in China in patients. The company has also commenced hiring the first patient. This is the greatest accomplishment of the biotechnology firm. Juventas has also shown improvement in the Phase I study to cure relapsed or refractory acute lymphoblastic leukemia (B-ALL).

CASI Pharmaceuticals and its partner Juventas is anticipating to commence the Phase II study by the end of 2020. Furthermore, Juventas has also finalized the $65 million financings. The funding provides resources to continue moving CNCT19 through registration. CASI AND Juventas both will be liable for the commercialization of CNCT19 and Juventas is responsible for the development of CNCT19. 

CASI Pharmaceuticals, Inc. (CASI) has seen some recent activity in the market and its shares closed trading at $1.9750 yesterday. Investors are starting to take interest in CASI as the shares traded as high as $2.0350 and as low as $1.9400 in the prior trading session.

CASI Pharmaceuticals, Inc. (CASI) average trading volume is 382.02K. However, in the prior trading session CASI Pharmaceuticals, Inc. (CASI) traded 233,325 shares. The First downside support level on CASI is $1.97 and the First resistance level on CASI is $2.79. CASI fifty day moving average is $1.8294 and CASI 200-day moving average is $2.0085.

CASI Pharmaceuticals, Inc. (CASI) current performance has been shown by the recent movement in CASI shares. CASI has performed 22.67% over the past 30 days, CASI has performed 7.34% over the past 3 months and CASI has shown -40.33% over the past 365 days. CASI Pharmaceuticals, Inc. (CASI) has a 12 month range of $1.1500 to $3.5700. CASI Pharmaceuticals, Inc. (CASI) is trading 71.74% from its 12 month low and -44.68% from its 12 month high. CASI Pharmaceuticals, Inc. (CASI) is indicating a 2.50% short float indicating the amount short in the float.

CASI has 117.94M shares outstanding and 70.96M shares in the float. CASI Pharmaceuticals, Inc. (CASI) at this time has a market cap of $242.29M and an income of -47.00M. The EPS next quarter for CASI is -0.07 and the forecasted EPS next year is 36.80%. The market cap of CASI Pharmaceuticals, Inc. (CASI) at $242.29M represents how many Investors own shares of CASI and is based off the last price ($1.9750) of CASI and the amount of shares outstanding (117.94M) with CASI Pharmaceuticals, Inc. (CASI).

CASI Pharmaceuticals, Inc. (CASI) has total cash (mrq) of 76.39M, total cash per share (mrq) of 0.62, total debt of CASI remains at 2.36M and total debt/equity (mrq) is 2.10. . CASI Pharmaceuticals, Inc. (CASI) operational cash flow (ttm) is -22.67M, CASI leveraged free cash flow (ttm) is -30.12M.

CASI is trading 1.44% above (bullish) its SMA20, 12.24% above (bullish) its SMA50 and -0.56% below (bearish) its SMA200.