CASI Pharmaceuticals: HC Wainwright Raises Buy Rating to $4, PT Raised to $4

CASI Pharmaceuticals: HC Wainwright Raises Buy Rating to $4, PT Raised to $4

CASI Pharmaceuticals, Inc. (NASDAQ:CASI) has seen its stock rating elevated by HC Wainwright, with the firm raising its buy rating to $4 and increasing its price target to $4. The upgrade comes amidst positive developments for the company, including the appointment of Dr. Barbara Krebs-Pohl as an Independent Director to its Board of Directors and the recent FDA IND acceptance for CID-103, an antibody-mediated rejection treatment [1].

Dr. Krebs-Pohl, who brings 27 years of biotechnology experience, notably serving as Chief Business Officer at MorphoSys, has joined CASI at a critical juncture. Her appointment is expected to enhance the development program of CID-103, an anti-CD38 monoclonal antibody for organ transplant rejection and autoimmune diseases. "I am thrilled to be joining CASI at such an important stage," said Dr. Krebs-Pohl, emphasizing the significance of the recent FDA IND acceptance for CID-103.

The appointment of Dr. Krebs-Pohl follows CASI's recent FDA IND clearance to conduct a Phase 1/2 study in renal allograft antibody-mediated rejection (AMR) with plans for first patient in Q1 2026. This study comes after the company's successful recruitment and dosing of patients in a Phase 1/2 study in immune thrombocytopenic purpura (ITP).

Wei-Wu He, PhD, Executive Chairman of CASI, expressed his excitement about Dr. Krebs-Pohl's joining the board, stating, "I am very pleased to welcome Barbara to our Board and look forward to working closely with her for the continued success of CASI." David Cory, CEO of CASI, added that Barbara's background and strategic insights will be invaluable to the CASI operating team as the CID-103 program continues to evolve.

CASI Pharmaceuticals, Inc. is a publicly-traded biopharmaceutical company focused on developing innovative therapies for patients with organ transplant rejection and autoimmune diseases. The company's pipeline includes CID-103, a fully human IgG1 monoclonal antibody with encouraging pre-clinical efficacy and clinical safety profiles.

The upgrade by HC Wainwright underscores investor confidence in CASI's potential to deliver on its mission to develop innovative therapies for patients with organ transplant rejection and autoimmune diseases. The company's recent achievements, including the appointment of Dr. Krebs-Pohl and the FDA IND acceptance for CID-103, suggest a promising future for the biopharmaceutical sector.

References:
[1] https://www.stocktitan.net/news/CASI/casi-pharmaceuticals-appoints-barbara-krebs-pohl-ph-d-to-board-of-78j7ihw1j9th.html