CASI Pharma (CASI) Misses Q1 EPS by 5c, Revenues Beat

CASI Pharma (NASDAQ: CASI) reported Q1 EPS of ($0.11), $0.05 worse than the analyst estimate of ($0.06). Revenue for the quarter came in at $5.74 million versus the consensus estimate of $5.05 million.

Wei-Wu He, Ph.D., CASI's Chairman, and Chief Executive Officer, commented, "We are pleased to report $5.7 million EVOMELA® revenues for the quarter. For the full year 2021, we expect to meet our guidance of greater than 50% revenue growth. In addition to upward trend in EVOMELA revenue, our first quarter was marked by our new China partnership with Cleave Therapeutics for CB-5339, an exciting first-in-class VCP/p97 inhibitor being investigated for hematological malignancies and solid tumors. We also completed a $32.5 million capital raise at the end of March, from new fundamentally-driven, healthcare-dedicated investors, to strengthen our balance sheet."

Dr. He continued, "I am thrilled with the progress we are seeing across our hematology oncology product portfolio. With respect to our commercial asset CNCT-19 (CD19 CAR-T), our partner Juventas is making excellent progress with their current registration trials in B-NHL and B-ALL and is expecting to file NDAs in China by the end of 2021. Our CID-103 (anti-CD38 monoclonal antibody) Phase I trial remains on track with first patient dosing expected later this month, BI-1206 (anti-FcyRIIB monoclonal antibody) is on track with our China IND submission expected this year. We are excited by our momentum and will continue to execute on a number of key milestones across our broad portfolio in the quarters ahead."

For earnings history and earnings-related data on CASI Pharma (CASI) click here.

You May Also Be Interested In

• FedEx falls 4% as CY2026 profit forecast misses expectations despite Q4 beat
• ConAgra Brands board member Chirico to step down at annual meeting
• KB Home (KBH) Misses Q2 EPS by 2c; Offers Outlook