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CASI - CASI Pharmaceuticals up 42% premarket ahead of reverse stock split
CASI Pharmaceuticals Inc.
Shares of microcap CASI Pharmaceuticals (NASDAQ:CASI) are up 42% in premarket trading ahead of a 1-for-10 reverse stock split that becomes effective at 5p ET. CASI (CASI) is implementing the split to satisfy a minimum bid price requirement on Nasdaq. After the split, there will be ~13.6M outstanding common shares. Seeking Alpha's Quant rating views CASI (CASI) as a hold.