Insider Buying: CASI Pharmaceuticals, Inc. (CASI) Major Shareholder Acquires 1,519,096 Shares of Stock

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) major shareholder Spectrum Pharmaceuticals Inc bought 1,519,096 shares of the stock in a transaction on Friday, December 22nd. The shares were bought at an average price of $0.01 per share, for a total transaction of $15,190.96. Following the purchase, the insider now directly owns 6,897,413 shares in the company, valued at approximately $68,974.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

CASI Pharmaceuticals, Inc. (CASI) opened at $3.75 on Friday. CASI Pharmaceuticals, Inc. has a one year low of $0.91 and a one year high of $4.84.

CASI Pharmaceuticals (NASDAQ:CASI) last issued its quarterly earnings data on Tuesday, November 14th. The biotechnology company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. analysts anticipate that CASI Pharmaceuticals, Inc. will post -0.13 earnings per share for the current fiscal year.

Separately, Maxim Group set a $4.00 target price on shares of CASI Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, November 14th.

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About CASI Pharmaceuticals

CASI Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the acquisition, development and commercialization of therapeutics for cancer and other medical needs. It operates through the development of targeted therapeutics for the treatment of cancer segment. Its product pipeline includes internal development of its lead drug candidate, ENMD-2076; MARQIBO, ZEVALIN and EVOMELA, and early-stage candidates in preclinical development.

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