CASI - CASI Pharmaceuticals proposes stock offering

CASI Pharmaceuticals (CASI) trades 7% down after hours on commencing an underwritten public offering to issue and sell shares; underwriters granted 30-day option to purchase up to an additional 15% of the shares.Offer size, terms have not yet been disclosed.Net proceeds to be used for general corporate purposes, which include, but are not limited to advancing CASI's product portfolio, acquiring the rights to new product candidates and general and administrative expenses.

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CASI Pharmaceuticals proposes stock offering