Casi Pharmaceuticals (CASI)

[Rocky I]

CASI Pharmaceuticals Reports First Quarter 2017 Financial Results
ROCKVILLE, Md., May 15, 2017 - CASI Pharmaceuticals, Inc. (Nasdaq: CASI), a biopharmaceutical company dedicated to innovative therapeutics addressing cancer and other unmet medical needs today reported financial results for the three months ended March 31, 2017.

CASI reported a net loss for the first quarter of 2017 of ($1.7 million), or ($0.03) per share, compared with a net loss of ($1.8 million), or ($0.04) per share, for the same period last year. The smaller net loss stems from a decrease in non-cash compensation expense associated with the timing of stock option issuances, offset by an increase in costs related to the expansion of our China operations.

As of March 31, 2017, CASI had cash and cash equivalents of $25.5 million.

Dr. Ken Ren, Chief Executive Officer, commented, “Our first quarter financial results were as expected and reflect the operational efficiencies we continue to achieve. We continue to make progress with our programs, while also pursuing business development opportunities to expand our pipeline, and remain committed to becoming a fully-integrated multi-national pharmaceutical company.”