24/7 Market News Snapshot 26 Jun 2024 – CASI Pharmaceuticals, Inc. Ordinary Shares (NASDAQ: CASI)

June 26, 2024 3:17

Press Release

DENVER, Colo., 26 June, 2024 (247marketnews.com) – (Nasdaq:CASI) are discussed in this article.
CASI Pharmaceuticals, Inc. Ordinary Shares demonstrated a remarkable surge in value, with a substantial 58.29% increase from opening at $3.585 to closing at $5.72. This notable bullish movement attracted investors’ attention, evident from the high trading volume of 1.1 million shares. The price surge reflects a positive market sentiment, with technical analysis indicating a robust buying momentum driving the uptrend.

In tandem with this market success, CASI Pharmaceuticals announced a pivotal development in the healthcare realm by unveiling plans to advance CID-103, an innovative treatment targeting antibody-mediated rejection in kidney transplant recipients. The company aims to submit an Investigational New Drug application for CID-103 to the FDA by the end of 2024. Distinguished by its unique epitope, CID-103, a fully human IgG1 anti-CD38 monoclonal antibody, has shown promising preclinical efficacy and safety profiles, setting it apart from existing anti-CD38 monoclonal antibodies.

Backed by a successful private placement financing round and robust financial assets, CASI is well-positioned to navigate Phase II clinical trials for AMR with confidence. This strategic move underscores CASI’s dedication to advancing healthcare through innovative therapies and addressing critical unmet medical needs. The company’s commitment to scientific advancement and patient care solidifies its position as a prominent player in the biopharmaceutical landscape. Stay tuned for more updates on CASI Pharmaceuticals, Inc. as it continues to lead the way in transforming treatment paradigms for kidney transplant recipients.

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