CASI Pharmaceuticals' NASDAQ Delisting Notice Causes Stock Price to Plummet

LootboxPhobia · 2026-02-25T19:35:50+00:00

CASI Pharmaceuticals' stock plummeted 56.7% on Wednesday after Nasdaq decided to delist its securities. The company failed to meet listing requirements and has been suspended from trading since February 26, 2026, with plans to move to the over-the-counter market. Although the company stated that the delisting would have little impact on operations, liquidity and visibility could decline.

LootboxPhobia

2026-02-25 19:35:50

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Investing.com – CASI Pharmaceuticals Inc (NASDAQ:CASI) stock plummeted 56.7% on Wednesday after the company announced it received a decision letter from the Nasdaq Hearing Panel to delist its securities from the exchange.

The clinical-stage biopharmaceutical company disclosed that the Nasdaq Hearing Panel issued the decision letter on February 23, 2026, citing the company’s failure to meet continued listing requirements. The company’s securities will halt trading at the open on February 26, 2026, and will be delisted after completing the applicable procedures. CASI stated it does not intend to request a review of the decision.

After delisting, CASI expects its common stock to be quoted on the over-the-counter (OTC) market operated by OTC Markets Group Inc., which may allow its stock to continue trading. However, the company noted that there is no guarantee that brokers will continue to make a market for its common stock or that trading will continue on the OTC market.

CASI is focused on developing CID-103, an anti-CD38 monoclonal antibody for patients with organ transplant rejection and autoimmune diseases. The company stated that the delisting will not have a significant impact on its operations.

Delisting from major exchanges typically results in decreased liquidity and visibility for a company, as OTC markets generally have lower trading volumes and less stringent disclosure requirements compared to Nasdaq.

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