- As a result of the delisting decision, CASI’s shares will be suspended for trading at the opening of business on Thursday.
- The company stated that it does not intend to review the Nasdaq’s delisting decision.
- CASI stated in its announcement that it expects the company's existing shares to be traded on the over-the-counter market operated by OTC Markets Group Inc.
CASI Pharmaceuticals Inc. (CASI) shares tanked more than 64% in Wednesday’s opening trade after the company announced that it had received a delisting decision from the Nasdaq.
CASI stated that the Nasdaq determined that the company had failed to satisfy the continued listing conditions to remain listed on the Nasdaq Stock Market.
As a result of the delisting decision, CASI’s shares will be suspended for trading at the opening of business on Thursday. The company stated that it does not intend to review the Nasdaq’s delisting decision.
CASI had received an extension in December 2025 to comply with the Nasdaq’s Market Value of Listed Securities (MVLS) Rule 5550(b)(2) by Feb. 17, 2026.
The MVLS rule requires a company’s market capitalization to be above $35 million for 30 consecutive trading days.
Retail sentiment on Stocktwits around CASI Pharmaceuticals trended in the ‘bullish’ territory.
Where Will CASI’s Existing Shares Be Traded Now?
CASI stated in its announcement that it expects the company's existing shares to be traded on the over-the-counter market operated by OTC Markets Group Inc.
However, the company said there is no guarantee that this will materialize.
“The delisting from Nasdaq will have no significant impact on the Company's operations,” the company said.
What Does CASI Do?
CASI is a San Francisco, California-based biopharmaceutical company developing CID-103, an anti-CD38 monoclonal antibody for the treatment of organ transplant rejection and autoimmune diseases.
In January, CASI announced additional data from its Phase 1 open-label study of CID-103 in adult patients with immune thrombocytopenia (ITP). The company stated that CID-103 demonstrated a manageable safety profile, with only two Grade 3 treatment-related events and no dose-limiting toxicities.
Grade 3 treatment-related events are severe and medically significant, but not life-threatening adverse events.
CASI stock is down 66% year-to-date and 87% over the past 12 months.
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