CASI Pharmaceuticals, Inc. (CASI) announced that it has received a determination letter from the Nasdaq Hearings Panel, dated February 23, 2026, notifying the company that its securities will be delisted from the Nasdaq Stock Market.
Trading suspension is set to begin at the open of business on February 26, 2026, following the company's failure to meet continued listing requirements. CASI has stated it does not intend to request a review of the decision.
The company expects its ordinary shares to be quoted on the over the counter (OTC) market operated by OTC Markets Group Inc., allowing a trading market to continue. However, CASI cautioned that there is no guarantee brokers will maintain a market for its shares or that trading will persist on OTC platforms. Importantly, the delisting in not expected to have a significant impact on CASI's ongoing operations.
CASI Pharmaceuticals remains focused on advancing CID-103, a fully human IgG1 anti-CD38 monoclonal antibody. CID-103 is being developed for patients with organ transplant rejection and autoimmune diseases, targeting a unique epitope with encouraging pre-clinical efficacy and safety data compared to other anti-CD38 antibodies. The company holds exclusive global rights to CD-103.
Clinical progress includes regulatory approvals for a Chinese Phase 1/2 CTA and a U.S. Phase 1 IND in adults with chronic active renal allograft antibody-mediated rejection (AMR).
CASI is also actively recruiting and dosing patients in a Phase 1 study for immune thrombocytopenia (ITP). In parallel, the company is assessing technologies to develop a stable, high-concentration protein solution for subcutaneous injection.
CASI closed Wednesday's session at $0.21 down 74.06%. In premarket trading Thursday, the stock is up 34.94% at $0.28.
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