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CASI Pharmaceuticals Posts Narrower Loss In Q3

November 14, 2023 — 07:30 am EST

Written by RTTNews.com for RTTNews

(RTTNews) - CASI Pharmaceuticals, Inc. (CASI) reported a third quarter net loss attributable to CASI of $4.6 million compared to a loss of $5.2 million, prior year. Net loss per share was $0.35 compared to a loss of $0.38. Total revenues declined to $8.8 million from $10.2 million, last year. Research and development expenses were $2.4 million, compared with $3.9 million, a year ago.

Wei-Wu He, CEO of CASI Pharmaceuticals, said: "The third quarter EVOMELA sales performance was impacted by the recent launch of an undifferentiated generic formulation of melphalan for injection product."

As of September 30, 2023, the company had cash, cash equivalents and short-term investments of $34.2 million.

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