CASI Pharmaceuticals (CASI) 10-Q 10 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 06, 2020
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2020
Entity File Number	0-20713
Entity Registrant Name	CASI Pharmaceuticals, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	58-1959440
Entity Address, Address Line One	9620 Medical Center Drive, Suite 300
Entity Address, City or Town	Rockville
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	20850
City Area Code	(240)
Local Phone Number	864-2600
Title of 12(b) Security	Common Stock
Trading Symbol	CASI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Interactive Data Current	Yes
Entity Central Index Key	0000895051
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		123,943,829

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 44,888	$ 53,621
Investment in equity securities, at fair value	934	625
Accounts receivable, net of $0 allowance for doubtful accounts	2,604	1,293
Loan receivable from a related party	4,267	0
Inventories	430	4,542
Prepaid expenses and other	1,407	1,420
Assets held-for-sale	1,250	1,496
Total current assets	55,780	62,997
Property and equipment, net	809	985
Intangible assets, net	13,143	15,399
Long-term investments	13,563	14,038
Right of use assets	7,964	8,708
Other assets	310	504
Total assets	91,569	102,631
Current liabilities:
Accounts payable	1,825	5,113
Accrued and other current liabilities	2,354	2,834
Total current liabilities	4,179	7,947
Deferred Income	2,196	0
Other liabilities	781	1,019
Total liabilities	7,156	8,966
Commitments and contingencies (Note 19)
Redeemable noncontrolling interest, at redemption value (Note 11)	21,074	20,670
Stockholders' equity:
Preferred stock, $1.00 par value: 5,000,000 shares authorized and 0 shares issued and outstanding	0	0
Common stock, $0.01 par value: 250,000,000 shares authorized at June 30, 2020 and December 31, 2019; 101,008,374 shares and 97,851,243 shares issued at June 30, 2020 and December 31, 2019, respectively; 100,928,829 shares and 97,771,698 shares outstanding at June 30, 2020 and December 31, 2019, respectively	1,010	979
Additional paid-in capital	614,617	606,686
Treasury stock, at cost: 79,545 shares held at June 30, 2020 and December 31, 2019	(8,034)	(8,034)
Accumulated other comprehensive loss	(3,890)	(2,728)
Accumulated deficit	(540,364)	(523,908)
Total stockholders' equity	63,339	72,995
Total liabilities, redeemable noncontrolling interest and stockholders' equity	$ 91,569	$ 102,631

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Condensed Consolidated Balance Sheets
Allowance for doubtful accounts	$ 0	$ 0
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 1	$ 1
Preferred Stock, Shares Authorized (in shares)	5,000,000	5,000,000
Preferred Stock, Shares Issued (in shares)	0	0
Preferred Stock, Shares Outstanding (is shares)	0	0
Common Stock, Par Value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, Shares Authorized (in shares)	250,000,000	250,000,000
Common Stock, Shares Issued (in shares)	101,008,374	97,851,243
Common Stock, Shares Outstanding (in shares)	100,928,829	97,771,698
Treasury stock, shares held (in shares)	79,545	79,545

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues:
Product sales	$ 2,638	$ 0	$ 6,010	$ 0
Lease income	33	0	67	0
Total revenues	2,671	0	6,077	0
Costs and expenses:
Costs of revenues	2,517	0	5,728	0
Research and development	1,862	2,979	4,879	5,545
General and administrative	4,085	6,982	8,143	12,693
Selling and marketing	1,557	0	2,817	0
(Gain) loss on disposal of intangible assets	0	0	(450)	48
Impairment of intangible assets	1,537	0	1,537	0
Acquired in-process research and development	0	5,849	1,081	5,849
Total cost and expenses	11,558	15,810	23,735	24,135
Loss from operations	(8,887)	(15,810)	(17,658)	(24,135)
Non-operating income/(expense):
Interest income, net	153	320	343	369
Other income	27	0	27	0
Foreign exchange (losses) gains	(115)	480	248	551
Change in fair value of investment in equity securities	324	(241)	309	(196)
Net loss	(8,498)	(15,251)	(16,731)	(23,411)
Less: (loss)/ income attributable to redeemable noncontrolling interest	(166)	62	(275)	76
Accretion to redeemable noncontrolling interest redemption value	362	158	679	161
Net loss attributable to CASI Pharmaceuticals, Inc.	$ (8,694)	$ (15,471)	$ (17,135)	$ (23,648)
Net loss per share (basic and diluted) (in dollars per share)	$ (0.09)	$ (0.16)	$ (0.17)	$ (0.25)
Weighted average number of common shares outstanding (basic and diluted)	100,921	95,717	99,847	95,684
Comprehensive loss:
Net loss	$ (8,498)	$ (15,251)	$ (16,731)	$ (23,411)
Foreign currency translation adjustment	(336)	(1,112)	(1,162)	(800)
Total comprehensive loss	(8,834)	(16,363)	(17,893)	(24,211)
Less: Comprehensive (loss)/income attributable to redeemable noncontrolling interest	(166)	62	(275)	76
Comprehensive loss attributable to common stockholders	$ (8,668)	$ (16,425)	$ (17,618)	$ (24,287)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]	Total
Balance at Dec. 31, 2018	$ 0	$ 954	$ 596,712	$ (8,034)	$ (1,227)	$ (478,941)	$ 109,464
Balance (in Shares) at Dec. 31, 2018	0	95,287,268
Issuance of common stock for options exercised	$ 0	$ 0	38	0	0	0	38
Issuance of common stock for options exercised (in shares)	0	18,262
Issuance of common stock for options and warrants exercised (in shares)	0
Repurchase of stock options to satisfy tax withholding obligations	$ 0	$ 0	(12)	0	0	0	(12)
Stock issuance costs	0	0	(7)	0	0	0	(7)
Stock-based compensation expense, net of forfeitures	0	0	3,309	0	0	0	3,309
Foreign currency translation adjustment	0	0	0	0	(800)	0	(800)
Issuance of common stock from exercise of warrants	0	$ 4	691	0	0	0	695
Issuance of common stock from exercise of warrants (in shares)		411,522
Net loss attributable to CASI Pharmaceuticals, Inc.	0	$ 0	(161)	0	0	(23,487)	(23,648)
Balance at Jun. 30, 2019	$ 0	$ 958	600,570	(8,034)	(2,027)	(502,428)	89,039
Balance (in shares) at Jun. 30, 2019	0	95,717,052
Balance at Mar. 31, 2019	$ 0	$ 958	599,302	(8,034)	(915)	(487,115)	104,196
Balance (in Shares) at Mar. 31, 2019	0	95,717,052
Stock issuance costs	$ 0	$ 0	0	0	0	0	0
Stock-based compensation expense, net of forfeitures	0	0	1,426	0	0	0	1,426
Foreign currency translation adjustment	0	0	0	0	(1,112)	0	(1,112)
Net loss attributable to CASI Pharmaceuticals, Inc.	0	0	(158)	0	0	(15,313)	(15,471)
Balance at Jun. 30, 2019	$ 0	$ 958	600,570	(8,034)	(2,027)	(502,428)	89,039
Balance (in shares) at Jun. 30, 2019	0	95,717,052
Balance at Dec. 31, 2019	$ 0	$ 979	606,686	(8,034)	(2,728)	(523,908)	72,995
Balance (in Shares) at Dec. 31, 2019	0	97,771,698
Issuance of common stock for options and warrants exercised	$ 0	$ 27	3,825	0	0	0	3,852
Issuance of common stock for options and warrants exercised (in shares)	0	2,722,795
Repurchase of stock options to satisfy tax withholding obligations	$ 0	$ 0	(251)	0	0	0	(251)
Issuance of common stock from exercise of warrants (in shares)	0
Issuance of common stock pursuant to financing agreements	$ 0	$ 4	1,395	0	0	0	1,399
Issuance of common stock pursuant to financing agreements (in shares)		434,336
Stock issuance costs	0	$ 0	(251)	0	0	0	(251)
Stock-based compensation expense, net of forfeitures	0	0	3,892	0	0	0	3,892
Foreign currency translation adjustment	0	0	0	0	(1,162)	0	(1,162)
Net loss attributable to CASI Pharmaceuticals, Inc.	0	0	(679)	0	0	(16,456)	(17,135)
Balance at Jun. 30, 2020	$ 0	$ 1,010	614,617	(8,034)	(3,890)	(540,364)	63,339
Balance (in shares) at Jun. 30, 2020	0	100,928,829
Balance at Mar. 31, 2020	$ 0	$ 1,010	612,972	(8,034)	(3,554)	(532,032)	70,362
Balance (in Shares) at Mar. 31, 2020	0	100,914,829
Issuance of common stock for options exercised	$ 0	$ 0	20	0	0	0	20
Issuance of common stock for options exercised (in shares)	0	14,000
Stock-based compensation expense, net of forfeitures	$ 0	$ 0	1,987	0	0	0	1,987
Foreign currency translation adjustment	0	0	0	0	(336)	0	(336)
Net loss attributable to CASI Pharmaceuticals, Inc.	0	0	(362)	0	0	(8,332)	(8,694)
Balance at Jun. 30, 2020	$ 0	$ 1,010	$ 614,617	$ (8,034)	$ (3,890)	$ (540,364)	$ 63,339
Balance (in shares) at Jun. 30, 2020	0	100,928,829

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (16,731)	$ (23,411)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization for property and equipment	276	624
Net loss on disposal of property and equipment	0	1
Amortization of intangible assets	763	775
Reduction in the carrying amount of the right-of-use assets	627	456
(Gain) loss on disposal of intangible assets	(450)	48
Impairment Of Intangible Assets	1,537	0
Stock-based compensation expense	3,892	3,309
Acquired in-process research and development	1,081	5,849
Change in fair value of investment in equity securities	(309)	196
Changes in operating assets and liabilities:
Accounts receivable	(1,311)	0
Inventories	4,112	(390)
Prepaid expenses and other assets	(33)	(1,860)
Accounts payable	(3,277)	1,358
Accrued liabilities and other liabilities	(1,190)	(632)
Deferred income	(11)	0
Net cash used in operating activities	(11,024)	(13,677)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from disposal of intangible assets	450	0
Purchases of property and equipment	(103)	(331)
Loan to a related party	(4,265)	0
Cash paid to acquired in-process research and development	(1,081)	(5,849)
Cash paid to acquire equity securities in Black Belt Tx Limited	0	(2,250)
Cash paid to acquire equity securities in Juventas Cell Therapy Ltd	0	(11,788)
Receipt of government grant	2,264	0
Net cash provided by (used in) investing activities	(2,735)	(20,218)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from note payable	466	0
Stock issuance costs	(42)	(6)
Proceeds from sale of common stock	1,399	0
Cash contribution from redeemable noncontrolling interest	0	20,000
Proceeds from exercise of stock options	3,852	38
Repurchase of stock options to satisfy tax withholding obligations	(251)	(12)
Proceeds from exercise of warrants	0	695
Net cash provided by financing activities	5,424	20,715
Effect of exchange rate change on cash and cash equivalents	(398)	(772)
Net increase in cash and cash equivalents	(8,733)	(13,952)
Cash and cash equivalents at beginning of period	53,621	84,205
Cash and cash equivalents at end of period	44,888	70,253
Supplemental disclosure of cash flow information:
Interest paid	0	0
Income taxes paid	$ 0	$ 0

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2020
Basis of Presentation
Basis of Presentation	1. Basis of Presentation CASI Pharmaceuticals, Inc. (“CASI” or the “Company”) is a U.S. biopharmaceutical company focused on developing and commercializing innovative therapeutics and pharmaceutical products in China, the United States, and throughout the world. The Company is focused on acquiring, developing and commercializing products that augment its hematology oncology therapeutic focus as well as other areas of unmet medical need. The Company intends to execute its plan to become a leader by launching medicines in the greater China market leveraging the Company's China-based regulatory and commercial competencies and its global drug development expertise. The Company's operations in China are conducted through its wholly-owned subsidiary, CASI Pharmaceuticals (China) Co., Ltd. ("CASI China"), which is located in Beijing, China. The Company has built a commercial team of over 70 hematology and oncology sales and marketing specialists based in China. In August 2019, the Company launched its first commercial product, EVOMELA ® ● An autologous CD19 CAR-T investigative product (CNCT19) being developed by Juventas Cell Therapy Ltd (“Juventas”) as a treatment for patients with B-cell acute lymphoblastic leukemia (“B-ALL”) and B-cell non-Hodgkin lymphoma (“B-NHL”) for which the Company has exclusive commercialization rights. The Company expects Juventas to complete its Phase 1 study of CNCT19 and initiate its registration trials in the first quarter of 2021. ● CID-103, an anti-CD38 monoclonal antibody being developed for the treatment of patients with multiple myeloma. The Company intends to initiate the Phase 1 study of CID-103 in the first quarter of 2021. ● ZEVALIN ® (Ibritumomab Tiuxetan), a CD20-directed radiotherapeutic antibody, that is approved in the U.S. to treat patients with non-Hodgkin lymphoma (“NHL”). The Company intends to begin the China registration study of ZEVALIN in 2021. Other assets in the Company’s pipeline for which the Company have exclusive rights in China are (i) Octreotide Long Acting Injectable (“LAI”), and (ii) a novel formulation of Thiotepa. Octreotide LAI formulations, which are approved in various European countries, are considered a standard of care for the treatment of acromegaly and the control of symptoms associated with certain neuroendocrine tumors. The Company plans to begin the China registration study for Octreotide LAI in 2020. Thiotepa is a conditioning treatment for allogeneic haemopoietic stem cell transplants. The Company’s partner for the novel formulation of Thiotepa plans to begin the China registration study in 2021. The Company intends to continue to pursue building a robust pipeline of drug candidates for development and commercialization in China as its primary market and, if rights are available, for the rest of the world. For in-licensed products, the Company uses a market-oriented approach to identify pharmaceutical candidates that it believes has the potential for gaining widespread market acceptance, either globally or in China, and for which development can be accelerated under the Company’s drug development strategy. The Company’s strategy focuses on product candidates with proven targets or product candidates that have low clinical risk. The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries, in which CASI, directly or indirectly, has a controlling financial interest. These subsidiaries include Miikana Therapeutics, Inc. (“Miikana”), CASI Pharmaceuticals (China) Co., Ltd. (“CASI China”), CASI Pharmaceuticals (Wuxi) Co., Ltd. (“CASI Wuxi”), and CASI Biopharmaceuticals (WUXI) Co., Ltd. (“CASI Biopharmaceuticals”). CASI China is a non-stock Chinese entity with 100% of its interest owned by CASI. CASI China received approval for a business license from the Beijing Industry and Commercial Administration in August 2012 and has operating facilities in Beijing. CASI Wuxi was established on December 26, 2018 in China to develop a future manufacturing facility in China. CASI Biopharmaceuticals is a wholly owned subsidiary of CASI Wuxi and was established in April 2019. The Company controls CASI Wuxi through 80% voting rights (see Note 11). Accordingly, the financial statements of CASI Wuxi have been consolidated in the Company’s consolidated financial statements since its inception. All inter-company balances and transactions have been eliminated in consolidation. The Company currently operates in one operating segment, which is the development of innovative therapeutics addressing cancer and other unmet medical needs for the global market. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, such condensed consolidated financial statements do not include all of the information and disclosures required by U.S. generally accepted accounting principles for complete consolidated financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. The accompanying December 31, 2019 financial information was derived from the Company’s audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the consolidated balance sheet of the Company as of December 31, 2019 and the related consolidated statements of operations and comprehensive loss, stockholders’ equity and cash flows for the year then ended. Certain line items in the 2019 consolidated balance sheet and in the June 30, 2019 unaudited condensed consolidated statement of cash flows have been reclassified to conform to the current period presentation. Liquidity Risks and Management’s Plans Since its inception in 1991, the Company has incurred significant losses from operations and, as of June 30, 2020, has incurred an accumulated deficit of $540.4 million. In 2012, the Company shifted its business strategy to China and has since built an infrastructure in China that includes sales and marketing, medical affairs, and regulatory and clinical development. In 2014, the Company changed its name to "CASI Pharmaceuticals, Inc." The majority of the Company's operations are now located in China. The Company expects to continue to incur operating losses for the foreseeable future due to, among other factors, its continuing clinical and development activities. On July 24, 2020, the Company closed an underwritten public offering of 23 million shares of common stock (the "Offering") and received gross proceeds of approximately $43.7 million before deducting the underwriting discounts and commissions and offering expenses payable by CASI. Certain insiders, including CASI's Chief Executive Officer, and CASI's President, purchased shares of common stock in the Offering at the public offering price and on the same terms as the other purchasers in this Offering (see Note 20). The Company intends to use the net proceeds of this offering for working capital and general corporate purposes, which include, but are not limited to advancing the Company's product portfolio, acquiring the rights to new product candidates and general and administrative expenses. Taking into consideration the cash and cash equivalents balance as of June 30, 2020, and the gross proceeds from the Offering of $43.7 million, the Company believes that it has sufficient resources to fund its operations at least one year beyond the date that the unaudited condensed consolidated financial statements are issued. As of June 30, 2020, approximately $3.1 million of the Company’s cash balance was held by CASI China, and approximately $20.4 million of the Company’s cash balance was held by CASI Wuxi. The Company intends to continue to exercise tight controls over operating expenditures and will continue to pursue opportunities, as required, to raise additional capital and will also actively pursue non- or less-dilutive capital raising arrangements. Risks and Uncertainties The Company's business has been and may continue to be adversely affected by the COVID-19 pandemic. In March 2020, the World Health Organization characterized the outbreak of COVID-19 as a pandemic. Due to the evolving and highly uncertain nature of this event, the Company cannot predict at this time the full extent to which the COVID-19 pandemic will adversely impact its business, results and financial condition. The impact will depend on many factors that are not known at this time. These include, among others, the extent of harm to public health, the continued disruption to operations, and the impact of the global business and economic environment on liquidity and the availability of capital. The Company has experienced operational interruptions as a result of COVID-19, including the temporary disruption of operations in China due to a Chinese government mandated quarantine protocol, including mandatory business closures, social distancing measures, and various travel restrictions. Although the Company's operations in China are beginning to normalize, there can be no assurance that such operations will continue to do so or that there will not be a renewed outbreak of COVID-19 or other significant contagious diseases in China or elsewhere. To the extent that such events occur, demand for the Company's products may decline, and the Chinese government or other governments may impose additional restrictions resulting in further shutdowns, further work restrictions, and the disruption of the Company’s supply and distribution channels. The COVID-19 pandemic has adversely affected, and may continue to adversely affect, the economies and financial markets of many countries, which may result in a period of regional, national, and global economic slowdown or regional, national, or global recessions that could affect the Company's ability to continue to commercialize and expand distribution of EVOMELA (Melphalan For Injection) or other drugs in the Company’s existing product pipeline. The effectiveness of the Company's sales teams may be negatively impacted by the lack of travel and their reduced ability to engage with decision-makers. In the first quarter 2020, during which the peak of the pandemic occurred in China, the Company experienced some disruptions to our EVOMELA marketing and sales activities due to travel restrictions and the prioritization of hospitals and physicians to attend to patients with COVID-19 infection. In addition, economic and other uncertainties may adversely affect other parties' willingness to negotiate and execute product licenses and thus hamper the Company's ability to in-license clinical-stage and late-stage drug candidates in China or elsewhere. The Company currently relies on a single source for its supply of EVOMELA. Due to COVID-19 the Company experienced a disruption to its supply chain for EVOMELA. That disruption, along with a recent change in the manufacturer of EVOMELA, contributed to a decrease in the Company's revenue for the second quarter of 2020. If suppliers refuse or are unable to provide products for any reason (including the occurrence of an event like the COVID-19 pandemic that makes delivery impractical), the Company would be required to negotiate an agreement with a substitute supplier, which would likely interrupt further manufacturing of EVOMELA, cause delays or increase costs. Clinical trials, whether planned or ongoing, may be affected by the COVID-19 pandemic. The Company's partner, Juventas, experienced some delay in the conduct of the CNCT19 trials due to the COVID-19 pandemic. The COVID-19 pandemic has also impacted the Company's targeted start time of our CID-103 trial due to the lock-down of many medical facilities in Europe. Study procedures (particularly any procedures that may be deemed non-essential), site initiation, participant recruitment and enrollment, participant dosing, shipment of the Company's product candidates, distribution of clinical trial materials, study monitoring, site inspections and data analysis may be paused or delayed due to changes in hospital or research institution policies, federal, state or local regulations, prioritization of hospital and other medical resources toward COVID-19 efforts, or other reasons related to the pandemic. In addition, there could be a potential effect of COVID-19 on the operations of the health regulatory authorities, which could result in delays of reviews and approvals, including with respect to the Company's product candidates. Any prolongation or de-prioritization of the Company's clinical trials or delay in regulatory review resulting from such disruptions could materially affect the development and study of the Company's product candidates.

License, Investment and Distrib

License, Investment and Distribution Agreements	6 Months Ended
	Jun. 30, 2020
License, Investment and Distribution Agreements
License, Investment and Distribution Agreements	2. License, Investment and Distribution Agreements Pharmathen Global BV: On October 29, 2019, the Company entered into an exclusive distribution agreement with Pharmathen Global BV (“Pharmathen”) for the development and distribution of octreotide long acting injectable (Octreotide LAI) microsphere in China. Octreotide LAI formulations are considered a standard of care for the treatment of acromegaly and for the control of symptoms associated with certain neuroendocrine tumors. Octreotide LAI has been approved in various European countries. CASI intends to advance the development, import drug registration, and market approval of this product in China. The Company expects to initiate an Octreotide LAI registration study in China in 2020. The terms of the agreement include an upfront payment of 1 million euros which was paid by the Company in 2019, and up to 2 million euros of additional milestone payments. During the six months ended June 30, 2020, a milestone relating to Pharmathen’s approval of Octreotide in the UK was achieved, which triggered a 1 million euros payment from the Company to Pharmathen. The 1 million euros was expensed as acquired in-process research and development in the accompanying unaudited condensed consolidated statement of operations for the six months ended June 30, 2020. CASI is responsible for the development, import drug registration, product approval and commercialization in China. CASI has a 10-year non-royalty exclusive distribution period after the product launch at agreed supply costs for the first three years . Juventas Cell Therapy: In June 2019, the Company entered into a license agreement for exclusive worldwide license to commercialize an autologous anti-CD19 T-cell therapy product (CNCT19) from Juventas Cell Therapy Ltd. (“Juventas”) (the “Juventas license agreement”), and entered into an investment agreement with Juventas pursuant to which CASI Wuxi invested RMB 80 million (approximately $11,788,000 ) in Juventas as the upfront payment for CNCT19 (“Juventas investment agreement”). Juventas is a China-based domestic company engaged in cell therapy. Under the Juventas license agreement, Juventas is responsible for the clinical development and regulatory submission and maintenance, and manufacturing. CASI is responsible for the launch and commercialization of CNCT19 and for the payment of certain future development milestones and sales royalties. In June 2020, the Company entered into a one-year loan agreement with Juventas in the amount of up to RMB 30,000,000 (approximately $4,243,000) with an annual interest rate of 20% , proceeds of which to support and advance the CNCT19 clinical program. CNCT19 was engineered from the CD19 CAR-T, to potentially treat patients with relapsed B-cell acute lymphoblastic leukemia (B-ALL), chronic lymphocytic leukemia (CLL), and B-cell non-Hodgkin lymphoma (B-NHL). The China National Medical Products Administration (NMPA) has approved the clinical trial applications for CNCT19 in Phase 1 studies in B-NHL and B-ALL. Both trials are conducted by Juventas and are currently enrolling patients. Juventas expects to complete the current Phase 1 studies and initiate registration trials by the first quarter of 2021, upon which CASI is obligated to pay a development milestone payment in the amount of RMB 70.0 million (approximately $9.9 million) to Juventas. Black Belt Therapeutics Limited: In April 2019, the Company entered into a license agreement with Black Belt Therapeutics Limited (“Black Belt”) for exclusive worldwide rights to CID-103, an investigational anti-CD38 monoclonal antibody (Mab) (formerly known as TSK011010). CASI is responsible for all development and commercialization activities of the CID-103 program. The Company expects to initiate a Phase I study in the UK in the first quarter of 2021. China Resources Guokang Pharmaceuticals Co., Ltd: In March 2019, CASI entered into an exclusive distribution agreement with China Resources Guokang Pharmaceuticals Co., Ltd. (“CRGK” or the “distributor”), pursuant to which it is the sole customer and distributor for the sale of EVOMELA in China. Commercial sales of EVOMELA were launched in August 2019. For the three and six months ended June 30, 2020, the Company recognized $2.6 million and $6.0 million of revenues, respectively, from sales of EVOMELA under this arrangement.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	3. Summary of Significant Accounting Policies Revenue Recognition Product sales recognized in the unaudited condensed consolidated statements of operations is considered “revenue from contracts with customers” and, accordingly, the Company recognizes revenue using the following steps: ● Identification of the contract, or contracts, with a customer; ● Identification of the performance obligations in the contract; ● Determination of the transaction price, including the identification and estimation of variable consideration; ● Allocation of the transaction price to the performance obligations in the contract; and ● Recognition of revenue when we satisfy a performance obligation. The Company recognizes revenue on sales of EVOMELA when the control of the product is transferred to the distributor, which occurs upon delivery of the product to the distributor, in an amount that reflects the consideration to which the Company expects to be entitled to in exchange for the product, excluding amounts collected on behalf of third parties (e.g. value-added taxes). Payment terms for these sales are due within 90 days. The arrangement does not include any variable consideration. The costs of assurance type warranties that provide the customer the right to exchange purchased product that does not meet appropriate quality standards are recognized when they are probable and are reasonably estimable. As of June 30, 2020, the Company did not incur, and therefore did not defer, any material costs to obtain or fulfill contracts. The Company did not have any contract assets or contract liabilities as of June 30, 2020. Costs of Revenues Cost of revenues consists primary of the cost of inventories of EVOMELA and sales-based royalties related to the sale of EVOMELA. Use of Estimates The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company’s significant accounting estimates relate to recoverability of operating lease right-of-use assets, intangible assets and long-term investments, net realizable value and obsolescence allowance for inventory, deferred tax assets and valuation allowance, allowance for doubtful accounts, and stock-based arrangements. Management bases its estimates on historical experience and on various other assumptions that it believes are reasonable under the circumstances. Actual results may differ from those estimates, and such differences may be material to the consolidated financial statements. Accounts Receivable and Credit Concentration CRGK is the sole customer for the sale of the Company’s EVOMELA product in China. All consolidated revenue for the three and six months ended June 30, 2020 were generated from sales to CRGK in China. Accounts receivable consist of CRGK receivables of $2.6 million and $1.3 million as of June 30, 2020 and December 31, 2019, respectively. The Company extends credit to CRGK on an unsecured basis and maintains an allowance for doubtful accounts for estimated losses inherent in its accounts receivable. In establishing the required allowance, management considers the historical losses, customer’s financial condition, the amount of accounts receivables in dispute, the accounts receivables aging and the customer’s payment pattern. The Company determined that no allowance for doubtful accounts was necessary as of June 30, 2020. Government Grants Government grants are recognized when there is reasonable assurance that the Company will comply with required conditions and the grants will be received. Government grants related to assets are presented as deferred income that is recognized on a systematic basis over the useful life of the asset. New Accounting Pronouncements Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326) .

Investment in Equity Securities

Investment in Equity Securities, at fair value and long-term investments	6 Months Ended
	Jun. 30, 2020
Investment in Equity Securities, at fair value and long-term investments
Investment in Equity Securities, at fair value and long-term investments	4. Investment in Equity Securities, at fair value and long-term investments The Company has an equity investment in the common stock of a publicly traded company. The fair value of this security was measured using its quoted market price, a Level 1 input, and was approximately $0.9 million as of June 30, 2020 and $0.6 million as of December 31, 2019 (see Note 16). The following table summarizes the Company’s investment as of June 30, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ unrealized ​ Aggregate fair Description ​ Classification ​ Cost gains ​ value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common stock Investment ​ $ — ​ $ 934 ​ $ 934 ​ Unrealized gains or (losses) on the Company’s equity investment for the three and six months ended June 30, 2020 and 2019 were $324,000, $309,000, $(241,000) and $(196,000), respectively, and are recognized as change in fair value of investment in equity securities in the accompanying unaudited condensed consolidated statements of operations and comprehensive loss. In April 2019, in conjunction with its license agreement entered into with Black Belt (see Note 2), the Company made a 2 million euros ($2,249,600) equity investment in a newly established, privately held UK Company, Black Belt Tx Ltd ("Black Belt Tx"). In June 2019, in conjunction with its license agreement entered into with Juventas (see Note 2), the Company, through its China subsidiary, made an RMB 80 million ($11,788,000) equity investment in Juventas, a privately held, China-based company. In June 2020, the Company entered into one-year loan agreement with Juventas in the amount of RMB 30,000,000 (approximately $4,243,000) with an annual interest rate of 20%. The loan is recorded in loan receivable from a related party in the accompanying unaudited consolidated condensed balance sheets. Beijing Fuyuan Zhiyuan Biotechnology Partnership (Limited Partnership), the major shareholder of Juventas, irrevocably and unconditionally guarantees to CASI the due and punctual payment in full of the loan. For the three and six months ended June 30, 2020, the Company recognized interest income of $24,000. As the Company does not have significant influence over operating and financial policies of Black Belt Tx Ltd and Juventas, and the equity interests do not have readily determinable fair value, the investments in Black Belt TX Ltd and Juventas are stated at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment. The Company did not record any adjustments or impairments during the three and six months ended June 30, 2020.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2020
Inventories
Inventories	5. Inventories Inventories at June 30, 2020 and December 31, 2019 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) June 30, 2020 December 31, 2019 Finished goods ​ $ 430 ​ $ 4,514 Raw materials ​ — ​ 28 Total ​ $ 430 ​ $ 4,542 ​ No provisions to write down the carrying amount of inventory have been recorded in the three and six months ended June 30, 2020 and 2019.

Leases

Leases	6 Months Ended
	Jun. 30, 2020
Leases
Leases	6. Leases Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Rent expense is recognized on a straight-line basis over the lease term. Operating lease liabilities (see below) are included in accrued liabilities and other liabilities (noncurrent) in the consolidated balance sheets as of June 30, 2020 and December 31, 2019. All of the Company’s existing leases as of June 30, 2020 are classified as operating leases. As of June 30, 2020, the Company had five material operating leases for land, facilities and office equipment with remaining terms expiring from 2021 through 2069 and a weighted average remaining lease term of39.49 years. The Company has fair value renewal options for three of the Company’s existing leases, none of which are considered reasonably certain of being exercised or included in the minimum lease term. Weighted average discount rates used in the calculation of the lease liability is 5.13%. The discount rates reflect the estimated incremental borrowing rate, which includes an assessment of the credit rating to determine the rate that the Company would have to pay to borrow, on a collateralized basis for a similar term, an amount equal to the lease payments in a similar economic environment. In November 2019, CASI Wuxi entered into a fifty-year lease agreement for the right to use state-owned land in China for the construction of a manufacturing facility. The land parcel is 74,028.40 square meters. The Company is currently in the design and engineering phase for the facility and working on the construction plan and timeline. The Company classifies this lease as an operating lease. The Company prepaid all of the lease payments for the land use right in 2019 in the amount of RMB 45 million (equivalent to US$6.6 million). In April 2020, CASI Wuxi received RMB 15.9 million (equivalent to approximately US$2.2 million) from the Jiangsu Province Wuxi Huishan Economic Development Zone as government grant for this development project which was recorded as deferred income in April 2020 (See Note 9). Rent expense for the six months ended June 30, 2020 and 2019 was approximately $749,000 and $611,000, respectively. There were no variable lease costs or sublease income for leased assets for the six months ended June 30, 2020. Right of use assets and liabilities as of June 30, 2020 and December 31, 2019 in the condensed consolidated balance sheets were as follows: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) June 30, 2020 December 31, 2019 Right of use assets ​ $ 7,964 ​ $ 8,708 ​ ​ ​ ​ ​ ​ ​ Accrued liabilities ​ $ 1,077 ​ $ 1,182 Other liabilities ​ 522 ​ 1,019 Total lease liabilities ​ $ 1,599 ​ $ 2,201 ​ Cash paid for amounts included in the measurement of operating lease liabilities were $701,000 for the six months period ended June 30, 2020 and was included in operating cash outflows. A maturity analysis of our operating leases as of June 30, 2020 follows: Future undiscounted cash flows: ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ 2020 (remaining six months) ​ $ 741 2021 ​ ​ 892 2022 ​ ​ 191 Thereafter ​ ​ — Total ​ ​ 1,824 ​ ​ ​ ​ Discount factor ​ ​ (225) Lease liability ​ ​ 1,599 Amounts due within 12 months ​ ​ 1,077 Non-current lease liability ​ $ 522 ​

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2020
Intangible Assets
Intangible Assets	7. Intangible Assets Intangible assets include ANDAs that were acquired as part of 2018 asset acquisitions of US marketed generic products and capitalized costs related to a cloud computing arrangement (CCA). The ANDAs are amortized over their estimated useful lives of 13 years, using the straight-line method. The CCA is being amortized over its useful life of 5 years. In February 2020, the Company entered into an agreement with Chartwell Rx Sciences, LLC (“Chartwell”) in which the Company sold and transferred the control of seven U.S. FDA-approved ANDAs to Chartwell in exchange for $450,000 in cash, which the Company received in March 2020. These ANDAs had a net book value of $0 at the time of sale. The Company is entitled to an additional $1 million, contingent upon Chartwell receiving certain FDA approvals relating to certain of these ANDAs. The Company recognized a gain on disposal of intangible assets in the amount of $450,000 in the accompanying unaudited condensed consolidated statement of operations for the six months ended June 30, 2020. The additional $1 million is treated as variable consideration. Because the amount of variable consideration is highly susceptible to factors outside the Company's influence and the Company’s experience with similar types of contracts is limited, the Company did not include the amount of variable consideration in recognition of gain on disposal of intangible assets for the six months ended June 30, 2020. The Company will recognize the variable consideration and additional gain on disposal of intangible assets when the constraint on variable consideration is resolved, i.e., Chartwell receives relevant FDA approvals. During the three and six months ended June 30, 2020, the Company recorded an impairment of intangible assets of $1.3 million, which represents the difference between the carrying value of the intangible asset and its fair value. There were no intangible asset impairments for the three and six months ended June 30, 2019. Intangible assets at June 30, 2020 consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset Purchase Price Accumulated Amortization Impairment Estimated useful lives ANDAs ​ $ 16,209 ​ $ (3,589) ​ $ (1,348) 13 years TDF ANDA ​ ​ 2,035 ​ ​ (289) ​ ​ — 13 years Others ​ ​ 193 ​ ​ (68) ​ ​ — ​ 5 years Total ​ $ 18,437 ​ $ (3,946) ​ $ (1,348) ​ ​ ​ The changes in intangible assets for the six months ended June 30, 2020 are as follows: ​ ​ ​ ​ ​ (In thousands) ​ ​ Balance as of December 31, 2019 ​ $ 15,399 Amortization expense ​ (706) Impairment of intangible assets ​ ​ (1,348) Foreign currency translation adjustment ​ (202) Balance as of June 30, 2020 ​ $ 13,143 ​ Expected future amortization expense, is as follows: ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ 2020 (remaining six months) $ 627 2021 ​ 1,255 2022 ​ 1,255 2023 ​ 1,255 2024 ​ 1,219 2025 and thereafter ​ 7,532 ​

Assets Held for Sale

Assets Held for Sale	6 Months Ended
	Jun. 30, 2020
Assets Held for Sale
Assets Held for Sale	8. Assets Held for Sale During the three months ended June 30, 2020, the Company classified four U.S. FDA-approved ANDAs as assets held for sale as it committed to a plan to sell these assets within one year and actively market the assets in their current condition at a price that is reasonable in relation to their estimated fair value. The held for sale criteria were met during the three months ended June 30, 2020. Assets held for sale are reported at the lower of cost or fair value less costs to sell and are recorded in a single line in the unaudited condensed consolidated balance sheets. The Company recorded an impairment of assets held for sale of $189,000 in the three and six months ended June 30, 2020. The Company reclassified the comparable balance sheet amounts related to these four ANDAs in the amount of $1,496,000 as of December 31, 2019 from intangible assets to assets held for sale. In July 2020, the Company entered into an agreement with Rubicon Research Private Limited (“Rubicon”) in which the Company sold and transferred the control of the four U.S. FDA-approved ANDAs to Rubicon in exchange for $1.25 million in cash, which the Company received in July 2020. Assets held-for-sale at June 30, 2020 consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) June 30, 2020 December 31, 2019 Cost of intangible assets ​ $ 1,756 ​ $ 1,756 Accumulated amortization ​ (317) ​ (260) Impairment of intangible assets ​ (189) ​ — ​ ​ $ 1,250 ​ $ 1,496 ​ The changes in assets held-for-sale for the six months ended June 30, 2020 are as follows: ​ ​ ​ ​ ​ (In thousands) ​ Balance as of December 31, 2019 ​ $ 1,496 Amortization expense ​ (57) Impairment of intangible assets ​ (189) Balance as of June 30, 2020 ​ $ 1,250 ​

Grants

Grants	6 Months Ended
	Jun. 30, 2020
Grants
Grants	9. Grants In November 2019, CASI Wuxi entered into a fifty-year lease agreement for the right to use state-owned land in China for the construction of a manufacturing facility (see Note 6). In November 2019, the Company entered into a grant agreement with the Administrative Committee of Wuxi Huishan Economic Development Zone, under which, the Company is eligible for grants up to RMB25 million to support the development of CASI Wuxi’s manufacturing site. In April 2020, CASI Wuxi received RMB 15.9 million (equivalent to approximately US$2.2 million) from the Jiangsu Province Wuxi Huishan Economic Development Zone as a government grant for this development project which was recorded as deferred income in April 2020. The grant will be amortized over the life of the lease of the land. The Company recognized $11,000 of other income during the three and six months ended June 30, 2020.

Note Payable

Note Payable	6 Months Ended
	Jun. 30, 2020
NOTE PAYABLE
NOTE PAYABLE	10. Note Payable On April 27, 2020, M&T Bank approved a $465,595 loan to the Company under the Paycheck Protection Program (PPP) pursuant to the Coronavirus Aid, Relief and Economic Security (CARES) Act that was signed into law on March 27, 2020. The loan, evidenced by a promissory note to M&T Bank as lender and dated April 29, 2020, has a term of two years, is unsecured, and is guaranteed by the Small Business Administration (SBA). The loan bears interest at a fixed rate of one percent per annum, with the first six months of interest and principal deferred. Some or all of the loan may be forgiven if the Company complies with certain relevant conditions. Interest expense of approximately $700 was recorded in the three and six months ended June 30, 2020. A maturity analysis of the note payable as of June 30, 2020 follows: Future undiscounted cash flows: ​ ​ ​ ​ ​ (In thousands) ​ 2020 (remaining six months) ​ $ 52 2021 ​ 316 2022 ​ 104 Thereafter ​ — Total ​ 472 ​ ​ ​ ​ Discount factor ​ (6) Amounts due within 12 months ​ ​ 207 Non-current liability ​ $ 259 ​

Redeemable Noncontrolling Inter

Redeemable Noncontrolling Interest	6 Months Ended
	Jun. 30, 2020
Redeemable Noncontrolling Interest
Redeemable Noncontrolling Interest	11. Redeemable Noncontrolling Interest On December 26, 2018, the Company, together with Wuxi Jintou Huicun Investment Enterprise, a limited partnership organized under Chinese law (“Wuxi LP”) established CASI Wuxi to build and operate a manufacturing facility in the Wuxi Huishan Economic Development Zone in Jiangsu Province, China. The Company holds 80% of the equity interests in CASI Wuxi and will invest, over time, $80 million in CASI Wuxi. The Company’s investment will consist of (i) $21 million in cash (paid in February 2019), (ii) a transfer of selected ANDAs valued at $30 million (transferred in May 2019), and (iii) an additional $29 million cash payment within three years from the date of establishment of CASI Wuxi. Wuxi LP holds 20% of the equity interest in CASI Wuxi through its investment in RMB of $20 million in cash (paid in March 2019). As the transfer of ANDAs valued at $30 million was to the Company’s consolidated subsidiary (CASI Wuxi), the Company recognized the transfer of the ANDAs at their carrying value and did not recognize a gain on the transfer. The investment of Wuxi LP in CASI Wuxi is treated as redeemable noncontrolling interest and is classified outside of permanent equity on the consolidated balance sheets. Accretion of the carrying amount of redeemable noncontrolling interest to the redemption value is recorded in additional paid-in capital. Changes in redeemable noncontrolling interest during the three and six month periods ended June 30, 2020 and 2019 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended (In thousands) June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Balance at beginning of period ​ $ 20,878 ​ $ 20,017 ​ $ 20,670 ​ $ — Cash contribution by Wuxi LP ​ ​ — ​ ​ — ​ ​ — ​ ​ 20,000 Share of CASI Wuxi (net loss)/income ​ ​ (166) ​ ​ 62 ​ ​ (275) ​ ​ 76 Accretion of redeemable noncontrolling interest ​ ​ 362 ​ ​ 158 ​ ​ 679 ​ ​ 161 Balance at end of period ​ $ 21,074 ​ $ 20,237 ​ $ 21,074 ​ $ 20,237 ​

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2020
Stockholders' Equity
Stockholders' Equity	12. Stockholders’ Equity Common Stock Sales Agreements The Company has a Common Stock Sales Agreement (the “Sales Agreement”) with H.C. Wainwright & Co., LLC (“HCW”). On July 19, 2019, the Company entered into an amendment to the Sales Agreement reducing the maximum amount that may be sold under the Sales Agreement to $20 million. As of June 30, 2020, approximately $19.5 million remained available under the Sales Agreement. On July 19, 2019, the Company entered into an Open Market Sale Agreement SM For the six months ended June 30, 2020, there were approximately 434,000 shares issued under the Open Market Agreement with net proceeds of approximately $1,357,000. As of June 30, 2020, the Company has issued approximately 493,000 shares with net proceeds of approximately $1,539,000. As of June 30, 2020, approximately $28.4 million remained available under the Sales Agreement. Stock purchase warrants activity for the six months ended June 30, 2020 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ Number of Warrants ​ Exercise Price Outstanding at January 1, 2020 9,843,720 ​ $ 4.43 Issued - ​ $ — Exercised (82,304) ​ $ 1.69 Expired (1,489,707) ​ $ 3.75 Outstanding at June 30, 2020 8,271,709 ​ $ 4.58 Exercisable at June 30, 2020 8,271,709 ​ $ 4.58 ​ All outstanding warrants are equity classified.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2020
Net Loss Per Share
Net Loss Per Share	13. Net Loss Per Share The following table sets forth the basic and diluted net loss per share computation and provides a reconciliation of the numerator and denominator for the periods presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended (In thousands, except per share data) June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss attributable to CASI Pharmaceuticals, Inc. ​ $ (8,694) ​ $ (15,471) ​ $ (17,135) ​ $ (23,648) Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average number of common shares ​ ​ 100,921 ​ ​ 95,717 ​ ​ 99,847 ​ 95,684 Denominator for basic and diluted net loss per share calculation ​ ​ 100,921 ​ ​ 95,717 ​ ​ 99,847 ​ 95,684 Net loss per share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ —Basic and diluted ​ $ (0.09) ​ $ (0.16) ​ $ (0.17) ​ $ (0.25) ​ As of June 30, 2020 and 2019, outstanding stock options totaling 15,906,321 and 18,530,037, respectively, and outstanding warrants totaling 8,271,709 and 11,370,303, respectively, were anti-dilutive, and therefore, were not included in the computation of weighted average shares used in computing diluted loss per share.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2020
Stock-Based Compensation
Stock-Based Compensation	14. Stock-Based Compensation As of June 30, 2020, a total of 10,939,840 shares remained available for grant under the Company’s 2011 Long-Term Incentive Plan. The Company’s net loss for the six months ended June 30, 2020 and 2019 includes $3.9 million and $3.3 million, respectively, of non-cash compensation expense related to the Company’s share-based compensation awards. The compensation expense related to the Company’s share-based compensation arrangements is recorded as components of general and administrative expense and research and development expense, as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, (In thousands) 2020 2019 Research and development ​ $ 211 ​ $ 264 General and administrative ​ 3,681 ​ 3,045 Share-based compensation expense ​ $ 3,892 ​ $ 3,309 ​ Compensation expense related to stock options is recognized over the requisite service period, which is generally the option vesting term of up to five years. Awards with performance conditions are expensed when it is probable that the performance condition will be achieved. For the six month periods ended June 30, 2020 and 2019, approximately $36,000 and $43,000 was expensed for stock option awards with performance conditions that were probable during the period, respectively. The Company uses the Black-Scholes-Merton valuation model to estimate the fair value of service based and performance-based stock options granted to employees. Option valuation models, including Black-Scholes-Merton, require the input of highly subjective assumptions, and changes in the assumptions used can materially affect the grant date fair value of an award. These assumptions include the risk- free interest rate, expected dividend yield, expected volatility, and the expected life of the award. Following are the weighted-average assumptions used in valuing the stock options granted to employees during the six month periods ended June 30, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ​ 2020 2019 Expected volatility 77.59 % 77.43 % Range of expected volatility 75.84% to 81.63 % 76.68% to 84.48 % Range of risk free interest rate ​ 0.34% to 1.77 % 1.74% to 2.59 % Expected term of option 6.03 years 6.04 years Expected dividend yield 0.00 % 0.00 % ​ The weighted average fair value of stock options granted during the six month periods ended June 30, 2020 and 2019 were $1.99 and $2.20, respectively. A summary of changes in options under the Company’s stock option plans during the six month period ended June 30, 2020 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ Number of Options ​ Exercise Price Outstanding at January 1, 2020 18,268,372 ​ $ 2.58 Exercised (2,774,473) ​ $ 1.39 Granted 1,145,686 ​ $ 2.96 Expired (85,847) ​ $ 5.27 Forfeited (647,417) ​ $ 3.89 Outstanding at June 30, 2020 ​ 15,906,321 ​ $ 2.75 Vested and expected to vest at June 30, 2020 15,906,321 ​ $ 2.75 Exercisable at June 30, 2020 8,798,385 ​ $ 2.21 ​ Cash received from option exercises under all share-based payment arrangements for the six month periods ended June 30, 2020 and 2019 was $3.8 million and $38,000, respectively.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Taxes
INCOME TAXES	15. Income Taxes At December 31, 2019, the Company had a $2.6 million unrecognized tax benefit. The Company recorded a full valuation allowance on the net deferred tax asset recognized in the consolidated financial statements as of December 31, 2019. During the six months ended June 30, 2020, there were no material changes to the measurement of unrecognized tax benefits in various tax jurisdictions. The Company recognizes interest and penalties related to uncertain tax positions as a component of income tax expense.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2020
Fair Value Measurements
Fair Value Measurements	16. Fair Value Measurements The majority of the Company’s financial instruments (consisting of cash and cash equivalents, accounts receivable, loan receivable from a related party, accounts payable, accrued liabilities, and notes payable) are carried at cost which approximates their fair values due to the short-term nature of the instruments. The Company’s investment in equity securities is carried at fair value (see Note 4). U.S. GAAP establishes a hierarchical disclosure framework which prioritizes and ranks the level of observability of inputs used in measuring fair value. These tiers include: ● Level 1—Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. ● Level 2—Observable market-based inputs other than quoted prices in active markets for identical assets or liabilities. ● Level 3—Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis The Company evaluates financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level at which to classify them each reporting period. This determination requires the Company to make subjective judgments as to the significance of inputs used in determining fair value and where such inputs lie within the hierarchy. The Company has an equity investment in the common stock of a publicly traded company. The Company’s investment in this equity security is carried at its estimated fair value, with changes in fair value reported in the consolidated statement of operations and comprehensive loss each reporting period (see Note 4). The fair value of the common stock is based on quoted market price for the investee’s common stock, a Level 1 input. The following tables present the Company’s financial assets and liabilities accounted for at fair value on a recurring basis as of June 30, 2020 and December 31, 2019, by level within the fair value hierarchy: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) Fair Value at ​ ​ ​ ​ ​ ​ Description ​ June 30, 2020 ​ Level 1 ​ Level 2 ​ Level 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment in common stock ​ $ 934 ​ $ 934 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value at ​ ​ ​ ​ ​ ​ Description ​ December 31, 2019 ​ Level 1 ​ Level 2 ​ Level 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment in common stock ​ $ 625 ​ $ 625 ​ $ — ​ $ — ​ Non-Financial Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) Fair Value at ​ ​ ​ ​ ​ ​ Description December 31, 2019 Level 1 Level 2 Level 3 Long-lived assets ​ $ 287 ​ $ — ​ $ — ​ $ 287 ​ The long-lived assets represent equipment leased to Juventas (Note 17). As of December 31, 2019, equipment leased to Juventas with a total carrying amount of $673,000 were written down to their fair value of $287,000, resulting in an impairment charge of $386,000, representing the difference between total carrying amount and fair value of these long-lived assets, which was calculated based on Level 3 Inputs. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) Fair Value at ​ ​ ​ Description ​ June 30, 2020 ​ Level 1 ​ Level 2 ​ Level 3 Intangible assets (Note 7) ​ $ 300 ​ $ — ​ $ — ​ $ 300 Assets held for sale (Note 8) ​ $ 1,250 ​ $ — ​ $ — ​ $ 1,250 ​

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2020
Related Party Transactions
Related Party Transactions	17. Related Party Transactions On July 1, 2019 the Company entered into a one-year equipment lease with Juventas in the amount of RMB 80,000 (approximately $15,000) a month, which is classified as an operating lease. Transactions with Juventas are considered to be related party transactions as the Company’s CEO and Chairman is the chairman and one of the founding shareholders of Juventas. During the six months ended June 30, 2020, the Company recognized lease income of $67,000. In June 2020, the Company entered into one-year loan agreement with Juventas in the amount of RMB 30,000,000 (approximately $4,243,000) with an annual interest rate of 20%. For the three and six months ended June 30, 2020, the Company recognized interest income of $24,000. In 2018, the Company entered into commercial purchase obligation commitments for EVOMELA from Spectrum Pharmaceuticals, Inc. (“Spectrum”) totaling approximately $9.2 million under a short-term supply agreement for EVOMELA. All of these EVOMELA purchase commitments have been delivered as of October 2019. Spectrum is a greater than a 5% shareholder of the Company. There were no transactions with Spectrum during the six months ended June 30, 2020. For the year ended December 31, 2019, the transactions relating to the manufacturing and purchase of the EVOMELA commercial product supply amounted to $7.8 million. The amount due to Spectrum was $0.2 million as of December 31, 2019. The Company also accrued approximately $2.6 million for material costs related to EVOMELA during the year ended December 31, 2019. As of June 30, 2020, all amounts due to Spectrum have been paid.

Acrotech License Arrangements

Acrotech License Arrangements	6 Months Ended
	Jun. 30, 2020
Acrotech License Arrangements
Acrotech License Arrangements	18. Acrotech License Arrangements The Company has certain product rights and perpetual exclusive licenses from Acrotech Biopharma L.L.C. (“Acrotech”) to develop and commercialize the following commercial oncology drugs and drug candidates in the greater China region (which includes China, Taiwan, Hong Kong and Macau) (the “Territories”): ● EVOMELA ® (Melphalan Hydrochloride For Injection) ● ZEVALIN ® (Ibritumomab Tiuxetan); and ● MARQIBO ® (Vincristine Sulfate Liposome Injection CASI is responsible for developing and commercializing these three drugs in the Territories, including the submission of import drug registration applications and conducting confirmatory clinical trials as needed. On December 3, 2018 the Company received NMPA’s approval for importation, marketing and sales in China for EVOMELA. The Company has in place an experienced commercial team with a successful track record to execute the commercial sales of EVOMELA that launched in August 2019. The Company has initiated an NMPA required post-marketing study in 2020. On February 12, 2019, the Company received NMPA’s approval of the Company’s clinical trial application (CTA) to conduct a registration trial to evaluate the efficacy and safety of ZEVALIN. The Company expects to initiate a ZEVALIN registration study in China in 2021. On March 4, 2019 the Company received NMPA’s approval of the Company’s MARQIBO CTA. The Company is currently evaluating the development strategy and options in an evolving standard of care environment for the approved niche indication.

Commitments

Commitments	6 Months Ended
	Jun. 30, 2020
Commitments
Commitments	19. Commitments In conjunction with the Black Belt and Juventas agreements entered into during 2019 (see Note 2), the Company is responsible for certain milestone and royalty payments. As of June 30, 2020, no milestones have been met. In conjunction with the Pharmathen agreement entered into during 2019 (see Note 2), the Company is responsible for certain remaining milestone payments. As of June 30, 2020, the remaining milestones have not been met. In conjunction with the Laurus Labs agreement entered into during 2018 related to the TDF ANDA (see Note 7), the Company is responsible for certain remaining milestone payments. As of June 30, 2020, the remaining milestones have not been met. In November 2019, CASI Wuxi entered into a lease agreement for the right to use state-owned land in China for the construction of a manufacturing facility. Pursuant to the agreement, CASI Wuxi commits to invest land use right and property, plant and equipment of RMB 1 billion (equivalent to US$143 million) within three years from the date of establishment of CASI Wuxi. The timing of the development and investment plans are subject to further discussion with the government. The Company is currently in the design and engineering phase for the building including the construction plan and timeline. In addition, work on land improvements has commenced. The Company is subject in the normal course of business to various legal proceedings in which claims for monetary or other damages may be asserted. Management does not believe such legal proceedings, unless otherwise disclosed herein, are material.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events
Subsequent Events	20. Subsequent Events July 2020 Offering On July 24, 2020, the Company closed an underwritten public offering of 23 million shares of common stock (the “Offering”) and received gross proceeds of approximately $43.7 million before deducting the underwriting discounts and commissions and offering expenses payable by CASI. Certain insiders, including CASI’s Chief Executive Officer, and CASI’s President, purchased shares of common stock in the Offering at the public offering price and on the same terms as the other purchasers in this Offering. The Company intends to use the net proceeds of this offering for working capital and general corporate purposes, which include, but are not limited to advancing the Company’s product portfolio, acquiring the rights to new product candidates and general and administrative expenses.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Summary of Significant Accounting Policies
Revenue Recognition	Revenue Recognition Product sales recognized in the unaudited condensed consolidated statements of operations is considered “revenue from contracts with customers” and, accordingly, the Company recognizes revenue using the following steps: ● Identification of the contract, or contracts, with a customer; ● Identification of the performance obligations in the contract; ● Determination of the transaction price, including the identification and estimation of variable consideration; ● Allocation of the transaction price to the performance obligations in the contract; and ● Recognition of revenue when we satisfy a performance obligation. The Company recognizes revenue on sales of EVOMELA when the control of the product is transferred to the distributor, which occurs upon delivery of the product to the distributor, in an amount that reflects the consideration to which the Company expects to be entitled to in exchange for the product, excluding amounts collected on behalf of third parties (e.g. value-added taxes). Payment terms for these sales are due within 90 days. The arrangement does not include any variable consideration. The costs of assurance type warranties that provide the customer the right to exchange purchased product that does not meet appropriate quality standards are recognized when they are probable and are reasonably estimable. As of June 30, 2020, the Company did not incur, and therefore did not defer, any material costs to obtain or fulfill contracts. The Company did not have any contract assets or contract liabilities as of June 30, 2020.
Costs of Revenues	Costs of Revenues Cost of revenues consists primary of the cost of inventories of EVOMELA and sales-based royalties related to the sale of EVOMELA.
Use of Estimates	Use of Estimates The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company’s significant accounting estimates relate to recoverability of operating lease right-of-use assets, intangible assets and long-term investments, net realizable value and obsolescence allowance for inventory, deferred tax assets and valuation allowance, allowance for doubtful accounts, and stock-based arrangements. Management bases its estimates on historical experience and on various other assumptions that it believes are reasonable under the circumstances. Actual results may differ from those estimates, and such differences may be material to the consolidated financial statements.
Accounts Receivable and Credit Concentration	Accounts Receivable and Credit Concentration CRGK is the sole customer for the sale of the Company’s EVOMELA product in China. All consolidated revenue for the three and six months ended June 30, 2020 were generated from sales to CRGK in China. Accounts receivable consist of CRGK receivables of $2.6 million and $1.3 million as of June 30, 2020 and December 31, 2019, respectively. The Company extends credit to CRGK on an unsecured basis and maintains an allowance for doubtful accounts for estimated losses inherent in its accounts receivable. In establishing the required allowance, management considers the historical losses, customer’s financial condition, the amount of accounts receivables in dispute, the accounts receivables aging and the customer’s payment pattern. The Company determined that no allowance for doubtful accounts was necessary as of June 30, 2020.
Government Grants	Government Grants Government grants are recognized when there is reasonable assurance that the Company will comply with required conditions and the grants will be received. Government grants related to assets are presented as deferred income that is recognized on a systematic basis over the useful life of the asset.
New Accounting Pronouncements	New Accounting Pronouncements Accounting Pronouncements Not Yet Adopted In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326) .

Investment in Equity Securiti_2

Investment in Equity Securities, at fair value and long-term investments (Tables)	6 Months Ended
	Jun. 30, 2020
Investment in Equity Securities, at fair value and long-term investments
Schedule of investment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ unrealized ​ Aggregate fair Description ​ Classification ​ Cost gains ​ value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common stock Investment ​ $ — ​ $ 934 ​ $ 934

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2020
Inventories
Schedule of components of inventories	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) June 30, 2020 December 31, 2019 Finished goods ​ $ 430 ​ $ 4,514 Raw materials ​ — ​ 28 Total ​ $ 430 ​ $ 4,542

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2020
Leases
Schedule of impact of Topic 842 on condensed consolidated balance sheet	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) June 30, 2020 December 31, 2019 Right of use assets ​ $ 7,964 ​ $ 8,708 ​ ​ ​ ​ ​ ​ ​ Accrued liabilities ​ $ 1,077 ​ $ 1,182 Other liabilities ​ 522 ​ 1,019 Total lease liabilities ​ $ 1,599 ​ $ 2,201
Schedule of future minimum rental payments for operating leases	​ ​ ​ ​ ​ (In thousands) ​ ​ ​ 2020 (remaining six months) ​ $ 741 2021 ​ ​ 892 2022 ​ ​ 191 Thereafter ​ ​ — Total ​ ​ 1,824 ​ ​ ​ ​ Discount factor ​ ​ (225) Lease liability ​ ​ 1,599 Amounts due within 12 months ​ ​ 1,077 Non-current lease liability ​ $ 522

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2020
Intangible Assets
Schedule of net definite-lived intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset Purchase Price Accumulated Amortization Impairment Estimated useful lives ANDAs ​ $ 16,209 ​ $ (3,589) ​ $ (1,348) 13 years TDF ANDA ​ ​ 2,035 ​ ​ (289) ​ ​ — 13 years Others ​ ​ 193 ​ ​ (68) ​ ​ — ​ 5 years Total ​ $ 18,437 ​ $ (3,946) ​ $ (1,348) ​ ​
Schedule of changes in intangible assets	​ ​ ​ ​ ​ (In thousands) ​ ​ Balance as of December 31, 2019 ​ $ 15,399 Amortization expense ​ (706) Impairment of intangible assets ​ ​ (1,348) Foreign currency translation adjustment ​ (202) Balance as of June 30, 2020 ​ $ 13,143
Schedule of expected future amortization expense	​ ​ ​ ​ ​ (In thousands) ​ ​ ​ 2020 (remaining six months) $ 627 2021 ​ 1,255 2022 ​ 1,255 2023 ​ 1,255 2024 ​ 1,219 2025 and thereafter ​ 7,532

Assets Held for Sale (Tables)

Assets Held for Sale (Tables)	6 Months Ended
	Jun. 30, 2020
Assets Held for Sale
Schedule of components of assets held-for-sale	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) June 30, 2020 December 31, 2019 Cost of intangible assets ​ $ 1,756 ​ $ 1,756 Accumulated amortization ​ (317) ​ (260) Impairment of intangible assets ​ (189) ​ — ​ ​ $ 1,250 ​ $ 1,496
Schedule of changes in assets held-for-sale	​ ​ ​ ​ ​ (In thousands) ​ Balance as of December 31, 2019 ​ $ 1,496 Amortization expense ​ (57) Impairment of intangible assets ​ (189) Balance as of June 30, 2020 ​ $ 1,250

Note Payable (Tables)

Note Payable (Tables)	6 Months Ended
	Jun. 30, 2020
NOTE PAYABLE
Schedule of Maturities of Long-term Debt [Table Text Block]	​ ​ ​ ​ ​ (In thousands) ​ 2020 (remaining six months) ​ $ 52 2021 ​ 316 2022 ​ 104 Thereafter ​ — Total ​ 472 ​ ​ ​ ​ Discount factor ​ (6) Amounts due within 12 months ​ ​ 207 Non-current liability ​ $ 259

Redeemable Noncontrolling Int_2

Redeemable Noncontrolling Interest (Tables)	6 Months Ended
	Jun. 30, 2020
Redeemable Noncontrolling Interest
Schedule of changes in redeemable noncontrolling interest	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended (In thousands) June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Balance at beginning of period ​ $ 20,878 ​ $ 20,017 ​ $ 20,670 ​ $ — Cash contribution by Wuxi LP ​ ​ — ​ ​ — ​ ​ — ​ ​ 20,000 Share of CASI Wuxi (net loss)/income ​ ​ (166) ​ ​ 62 ​ ​ (275) ​ ​ 76 Accretion of redeemable noncontrolling interest ​ ​ 362 ​ ​ 158 ​ ​ 679 ​ ​ 161 Balance at end of period ​ $ 21,074 ​ $ 20,237 ​ $ 21,074 ​ $ 20,237

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2020
Net Loss Per Share
Schedule of basic and diluted net loss per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended (In thousands, except per share data) June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss attributable to CASI Pharmaceuticals, Inc. ​ $ (8,694) ​ $ (15,471) ​ $ (17,135) ​ $ (23,648) Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average number of common shares ​ ​ 100,921 ​ ​ 95,717 ​ ​ 99,847 ​ 95,684 Denominator for basic and diluted net loss per share calculation ​ ​ 100,921 ​ ​ 95,717 ​ ​ 99,847 ​ 95,684 Net loss per share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ —Basic and diluted ​ $ (0.09) ​ $ (0.16) ​ $ (0.17) ​ $ (0.25)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2020
Stockholders' Equity
Schedule of stock purchase warrants activity	​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ Number of Warrants ​ Exercise Price Outstanding at January 1, 2020 9,843,720 ​ $ 4.43 Issued - ​ $ — Exercised (82,304) ​ $ 1.69 Expired (1,489,707) ​ $ 3.75 Outstanding at June 30, 2020 8,271,709 ​ $ 4.58 Exercisable at June 30, 2020 8,271,709 ​ $ 4.58

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2020
Stock-Based Compensation
Schedule of compensation expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, (In thousands) 2020 2019 Research and development ​ $ 211 ​ $ 264 General and administrative ​ 3,681 ​ 3,045 Share-based compensation expense ​ $ 3,892 ​ $ 3,309
Schedule of weighted-average assumptions used in valuing the stock options	​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ​ 2020 2019 Expected volatility 77.59 % 77.43 % Range of expected volatility 75.84% to 81.63 % 76.68% to 84.48 % Range of risk free interest rate ​ 0.34% to 1.77 % 1.74% to 2.59 % Expected term of option 6.03 years 6.04 years Expected dividend yield 0.00 % 0.00 %
Schedule of stock option plans and of changes in options outstanding under the plans	​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ Number of Options ​ Exercise Price Outstanding at January 1, 2020 18,268,372 ​ $ 2.58 Exercised (2,774,473) ​ $ 1.39 Granted 1,145,686 ​ $ 2.96 Expired (85,847) ​ $ 5.27 Forfeited (647,417) ​ $ 3.89 Outstanding at June 30, 2020 ​ 15,906,321 ​ $ 2.75 Vested and expected to vest at June 30, 2020 15,906,321 ​ $ 2.75 Exercisable at June 30, 2020 8,798,385 ​ $ 2.21

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Measurements
Schedule of assets and liabilities measured at fair value on recurring and nonrecurring basis	The following tables present the Company’s financial assets and liabilities accounted for at fair value on a recurring basis as of June 30, 2020 and December 31, 2019, by level within the fair value hierarchy: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) Fair Value at ​ ​ ​ ​ ​ ​ Description ​ June 30, 2020 ​ Level 1 ​ Level 2 ​ Level 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment in common stock ​ $ 934 ​ $ 934 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value at ​ ​ ​ ​ ​ ​ Description ​ December 31, 2019 ​ Level 1 ​ Level 2 ​ Level 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment in common stock ​ $ 625 ​ $ 625 ​ $ — ​ $ — ​ Non-Financial Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) Fair Value at ​ ​ ​ ​ ​ ​ Description December 31, 2019 Level 1 Level 2 Level 3 Long-lived assets ​ $ 287 ​ $ — ​ $ — ​ $ 287
Schedule of fair value of long-lived assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) Fair Value at ​ ​ ​ Description ​ June 30, 2020 ​ Level 1 ​ Level 2 ​ Level 3 Intangible assets (Note 7) ​ $ 300 ​ $ — ​ $ — ​ $ 300 Assets held for sale (Note 8) ​ $ 1,250 ​ $ — ​ $ — ​ $ 1,250

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($)	Jul. 24, 2020	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Description of Business and Basis of Presentation [Line Items]
Retained Earnings (Accumulated Deficit)		$ (540,364,000)	$ (540,364,000)		$ (540,364,000)		$ (523,908,000)
Percentage Of Ownership Interest In Non Stock Subsidiary		100.00%	100.00%		100.00%
Revenues			$ 2,671,000	$ 0	$ 6,077,000	$ 0
Shares issued under the offering		493,000
Subsequent Events
Description of Business and Basis of Presentation [Line Items]
Shares issued under the offering	23,000,000
Gross proceeds from the offering	$ 43,700,000
EVOMELA [Member]
Description of Business and Basis of Presentation [Line Items]
Revenues			2,600,000		6,000,000
CASI China [Member]
Description of Business and Basis of Presentation [Line Items]
Cash		$ 3,100,000	$ 3,100,000		$ 3,100,000
CASI Wuxi [Member]
Description of Business and Basis of Presentation [Line Items]
Percentage Of Ownership Interest In Non Stock Subsidiary		80.00%	80.00%		80.00%
Cash		$ 20,400,000	$ 20,400,000		$ 20,400,000

License, Investment and Distr_2

License, Investment and Distribution Agreements (Details) € in Millions

Oct. 30, 2019

Oct. 29, 2019EUR (€)

Jun. 30, 2020USD ($)

Jun. 30, 2020CNY (¥)

Jun. 30, 2019USD ($)

Jun. 30, 2019CNY (¥)

Jun. 30, 2020USD ($)

Jun. 30, 2019USD ($)

Jun. 30, 2020USD ($)

Jun. 30, 2019USD ($)

Jun. 30, 2019CNY (¥)

Dec. 31, 2019EUR (€)

Mar. 31, 2021USD ($)

Mar. 31, 2021CNY (¥)

Jun. 30, 2020EUR (€)

License, Investment and Distribution Agreements

Revenues | $

$ 2,671,000

$ 0

$ 6,077,000

$ 0

Pharmathen Global BV [Member]

License, Investment and Distribution Agreements

Non Royalty Exclusive Distribution Period

10 years

Non Royalty Exclusive Distribution, Supply Cost Determination, Period Considered

3 years

Pharmathen Global BV [Member] | Maximum [Member]

License, Investment and Distribution Agreements

Additional milestone payments

€ 2

Juventas Cell Therapy Ltd [Member]

License, Investment and Distribution Agreements

Payments to Acquire Equity Method Investments

$ 11,788,000

¥ 80,000,000

$ 11,788,000

¥ 80,000,000

Term of the loan provided

1 year

1 year

Loan advanced, maximum borrowing capacity

$ 4,243,000

¥ 30,000,000

Interest rate (as a percent)

20.00%

20.00%

Juventas Cell Therapy Ltd [Member] | Forecast [Member]

License, Investment and Distribution Agreements

Milestone Payable

$ 9,900,000

¥ 70,000,000

Development milestone payment

$ 9,900,000

¥ 70,000,000

EVOMELA [Member]

License, Investment and Distribution Agreements

Revenues | $

$ 2,600,000

$ 6,000,000

License Agreement Terms [Member] | Pharmathen Global BV [Member]

License, Investment and Distribution Agreements

Upfront payment

€ 1

License Agreement Terms [Member] | Pharmathen Global BV [Member] | Research and Development Expense [Member]

License, Investment and Distribution Agreements

Milestone Payable

€ 1

Development milestone payment

€ 1

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - CRGK [Member] - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Accounts receivable	$ 2,600	$ 1,300
Accounts Receivable, Allowance for Credit Loss	$ 0

Investment in Equity Securiti_3

Investment in Equity Securities, at fair value and long-term investments - Summary of Investment (Details) - Common Stock [Member] $ in Thousands	3 Months Ended
	Jun. 30, 2020USD ($)
Cost	$ 0
Gross unrealized gains	934
Aggregate fair value	$ 934

Investment in Equity Securiti_4

Investment in Equity Securities, at fair value and long-term investments - Additional Information (Details) € in Millions	1 Months Ended						3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2020CNY (¥)	Jun. 30, 2019USD ($)	Jun. 30, 2019CNY (¥)	Apr. 30, 2019USD ($)	Apr. 30, 2019EUR (€)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2019CNY (¥)
Change in fair value of investment in equity securities							$ 324,000	$ (241,000)	$ 309,000	$ (196,000)
Juventas Cell Therapy Ltd [Member]
Payments to Acquire Equity Method Investments			$ 11,788,000	¥ 80,000,000						$ 11,788,000	¥ 80,000,000
Loans Advanced To Related Party, Term	1 year	1 year
Interest rate (as a percent)	20.00%	20.00%
Loans Advanced To Related Party, Maximum Borrowing Capacity	$ 4,243,000	¥ 30,000,000
Interest Income, Related Party							$ 24,000		$ 24,000
Black Belt TX Limited [Member]
Payments to Acquire Equity Method Investments					$ 2,249,600	€ 2

Investment in Equity Securiti_5

Investment in Equity Securities, at fair value and long-term investments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Change in fair value of investment in equity securities	$ (324)	$ 241	$ (309)	$ 196
Level 1
Equity Method Investments, Fair Value Disclosure	$ 900		$ 900		$ 600

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Inventories
Finished goods	$ 430	$ 4,514
Raw materials	0	28
Inventory, Net, Total	430	4,542
Write down of obsolete inventories	$ 0	$ 0

Leases - Impact of Topic 842 (D

Leases - Impact of Topic 842 (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Right of use assets	$ 7,964	$ 8,708
Operating Lease, Liability	1,599	2,201
Accounts Payable and Accrued Liabilities [Member]
Operating Lease, Liability	1,077	1,182
Other Liabilities [Member]
Operating Lease, Liability	$ 522	$ 1,019

Leases - Future Undiscounted Ca

Leases - Future Undiscounted Cash Flows (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Leases
2020 (remaining nine months)	$ 741
2021	892
2022	191
Thereafter	0
Total	1,824
Discount factor	(225)
Lease liability	1,599	$ 2,201
Amounts due within 12 months	1,077
Non-current lease liability	$ 522

Leases - Additional Information

Leases - Additional Information (Details) ¥ in Millions	1 Months Ended				6 Months Ended
	Apr. 30, 2020CNY (¥)	Apr. 30, 2020USD ($)	Nov. 30, 2019CNY (¥)m²	Nov. 30, 2019USD ($)m²	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)
Operating Lease, Weighted Average Remaining Lease Term					39 years 5 months 26 days
Operating Lease, Weighted Average Discount Rate, Percent					5.13%
Operating Leases, Rent Expense, Net					$ 749,000	$ 611,000
Cash paid for amounts included in the measurement of operating lease liabilities					$ 701,000
CASI Wuxi [Member]
Term of the lease contract			50 years	50 years
Land parcel area (in square meters) | m²			74,028.40	74,028.40
Prepaid lease payments for the land use right			¥ 45	$ 6,600,000
Government grant received	¥ 15.9	$ 2,200,000

Intangible Assets - Net Definit

Intangible Assets - Net Definite-lived Intangible Assets (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2020USD ($)
Finite-Lived Intangible Assets [Line Items]
Gross Value	$ 18,437	$ 18,437
Accumulated Amortization	(3,946)	(3,946)
Impairment		(1,348)
ANDA
Finite-Lived Intangible Assets [Line Items]
Gross Value	16,209	16,209
Accumulated Amortization	$ (3,589)	(3,589)
Impairment		$ (1,348)
Estimated useful lives	13 years	13 years
Abbreviated New Drug Applications TDF [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Value	$ 2,035	$ 2,035
Accumulated Amortization	$ (289)	(289)
Impairment		$ 0
Estimated useful lives	13 years	13 years
Others [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Value	$ 193	$ 193
Accumulated Amortization	$ (68)	(68)
Impairment		$ 0
Estimated useful lives		5 years

Intangible Assets - Changes in

Intangible Assets - Changes in intangible assets (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Intangible Assets
Balance as of December 31, 2019	$ 15,399
Amortization expenses	(706)
Impairment of intangible assets	(1,348)
Foreign currency translation adjustments	(202)
Balance as of June 30, 2020	$ 13,143

Intangible Assets - Expected Fu

Intangible Assets - Expected Future Amortization Expense (Details) $ in Thousands	Jun. 30, 2020USD ($)
Intangible Assets
2020 (remaining three months)	$ 627
2021	1,255
2022	1,255
2023	1,255
2024	1,219
2025 and thereafter	$ 7,532

Intangible Assets - Additional

Intangible Assets - Additional Information (Details)	1 Months Ended	3 Months Ended		6 Months Ended
	Feb. 29, 2020USD ($)item	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Finite-Lived Intangible Assets [Line Items]
Net book value		$ 13,143,000		$ 13,143,000		$ 15,399,000
(Gain) loss on disposal of intangible assets		0	$ 0	(450,000)	$ 48,000
Impairment Of Intangible Assets,Carrying Value		$ 1,300,000		$ 1,300,000
ANDA
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives		13 years		13 years
Cloud Computing Arrangement [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives				5 years
Chartwell | ANDA
Finite-Lived Intangible Assets [Line Items]
Number of intangible assets sold during the period. | item	7
Aggregate consideration on sale of intangible assets	$ 450,000
Net book value	0
Remaining consideration on sale of intangible assets	$ 1,000,000

Assets Held for Sale - Componen

Assets Held for Sale - Components of assets held-for-sale (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Assets Held For Sale, Disclosure [Line Items]
Cost of intangible assets	$ 18,437
Accumulated amortization	3,946
Total	13,143	$ 15,399
Asset held for sale | ANDA
Assets Held For Sale, Disclosure [Line Items]
Cost of intangible assets	1,756	1,756
Accumulated amortization	(317)	(260)
Impairment of intangible assets	(189)	0
Total	$ 1,250	$ 1,496

Assets Held for Sale - Changes

Assets Held for Sale - Changes in assets held-for-sale (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Assets Held For Sale, Disclosure [Line Items]
Balance as of December 31, 2019	$ 15,399
Amortization expense	706
Impairment of intangible assets	(1,348)
Balance as of June 30, 2020	13,143
ANDA | Asset held for sale
Assets Held For Sale, Disclosure [Line Items]
Balance as of December 31, 2019	1,496
Amortization expense	(57)
Impairment of intangible assets	(189)
Balance as of June 30, 2020	$ 1,250

Assets Held for Sale - Addition

Assets Held for Sale - Additional Information (Details) $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended
	Jul. 31, 2020USD ($)item	Jun. 30, 2020USD ($)	Jun. 30, 2020USD ($)item	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Assets Held For Sale, Disclosure [Line Items]
Proceeds from Sale of Intangible Assets			$ 450	$ 0
ANDA
Assets Held For Sale, Disclosure [Line Items]
Impairment of assets held for sale		$ 189	$ 189
Number of intangible assets classified as held for sale | item			4
Balance of assets held for sale					$ 1,496
ANDA | Subsequent Events
Assets Held For Sale, Disclosure [Line Items]
Number Of Intangible Assets Sold | item	4
Proceeds from Sale of Intangible Assets	$ 1,250

Grants (Details)

Grants (Details) ¥ in Millions	1 Months Ended		6 Months Ended
	Apr. 30, 2020CNY (¥)	Apr. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Nov. 30, 2019CNY (¥)
Grants, Disclosure [Line Items]
Other Income | $			$ 11,000
CASI Wuxi [Member]
Grants, Disclosure [Line Items]
Lessor, Operating Lease, Term of Contract				50 years
Proceeds from Government Grant	¥ 15.9	$ 2,200,000
Maximum [Member] | CASI Wuxi [Member]
Grants, Disclosure [Line Items]
Amount of grants eligible | ¥				¥ 25

Note Payable (Details)

Note Payable (Details) $ in Thousands	Jun. 30, 2020USD ($)
Maturity analysis of the note payable
2020 (remaining six months)	$ 52
2021	316
2022	104
Thereafter	0
Total	472
Discount factor	(6)
Amounts due within 12 months	207
Non-current liability	$ 259

Note Payable - Additional Infor

Note Payable - Additional Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2020	Apr. 27, 2020
NOTE PAYABLE
Line of Credit Facility, Maximum Borrowing Capacity		$ 465,595
Interest Expense	$ 700

Redeemable Noncontrolling Int_3

Redeemable Noncontrolling Interest - Changes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Redeemable Noncontrolling Interest
Balance at beginning of period	$ 20,878	$ 20,017	$ 20,670	$ 0
Cash contribution by Wuxi LP	0	0	0	20,000
Share of CASI Wuxi (net loss)/income	(166)	62	(275)	76
Accretion of redeemable noncontrolling interest	362	158	679	161
Balance at end of period	$ 21,074	$ 20,237	$ 21,074	$ 20,237

Redeemable Noncontrolling Int_4

Redeemable Noncontrolling Interest - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	6 Months Ended
	May 31, 2019	Mar. 31, 2019	Jun. 30, 2020	Feb. 28, 2019	Dec. 26, 2018
Noncontrolling Interest [Line Items]
Value of transfer of selected ANDAs			$ 30
CASI Wuxi [Member]
Noncontrolling Interest [Line Items]
Equity Method Investment, Ownership Percentage					80.00%
Investment Commitment					$ 80
Initial Cash Investment				$ 21
Value of transfer of selected ANDAs	$ 30
Payments To Be Paid Within Three Years			$ 29
Payments to Acquire Investments		$ 20
CASI Wuxi [Member] | Call Option [Member]
Noncontrolling Interest [Line Items]
Equity Method Investment, Ownership Percentage			20.00%

Stockholders' Equity (Details)

Stockholders' Equity (Details) - Warrant	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Outstanding at Number of Warrants, Beginning Balance | shares	9,843,720
Issued Number of Warrants | shares	0
Exercised Number of Warrants | shares	82,304
Expired Number of Warrants | shares	(1,489,707)
Outstanding at Number of Warrants, Ending Balance | shares	8,271,709
Exercisable Number of Warrants | shares	8,271,709
Outstanding Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 4.43
Issued Weighted Average Exercise Price | $ / shares	0
Exercised Weighted Average Exercise Price | $ / shares	1.69
Expired Weighted Average Exercise Price | $ / shares	3.75
Outstanding Weighted Average Exercise Price, at Ending Balance | $ / shares	4.58
Exercisable Weighted Average Exercise Price | $ / shares	$ 4.58

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - USD ($)	Jul. 24, 2020	Jun. 30, 2020	Jul. 19, 2019	Jun. 30, 2020
Stock Issued During Period, Shares, New Issues		493,000
Net Proceeds From Issuance Of Common Stock		$ 1,539,000		$ 1,357,000
Remaining Dollar Amount Available Under Sales Agreement				$ 19,500,000
Amendment To Open Sale Agreement [Member]
Maximum Sales Price from Issuance of Common Stock			$ 20,000,000
Open Market Sale Agreement [Member]
Stock Issued During Period, Shares, New Issues				434,000
Remaining Dollar Amount Available Under Sales Agreement				$ 28,400,000
Maximum Sales Price from Issuance of Common Stock			$ 30,000,000
Subsequent Events
Stock Issued During Period, Shares, New Issues	23,000,000
Proceeds from Issuance of Common Stock	$ 43,700,000

Net Loss Per Share (Details)

Net Loss Per Share (Details) - shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	15,906,321	18,530,037
Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	8,271,709	11,370,303

Net Loss Per Share - Basic and

Net Loss Per Share - Basic and diluted net loss per share computation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Numerator:
Net loss attributable to CASI Pharmaceuticals, Inc.	$ (8,694)	$ (15,471)	$ (17,135)	$ (23,648)
Denominator:
Weighted average number of common shares	100,921	95,717	99,847	95,684
Denominator for basic and diluted net loss per share calculation	100,921	95,717	99,847	95,684
Net loss per share - Basic and diluted (in dollars per share)	$ (0.09)	$ (0.16)	$ (0.17)	$ (0.25)

Stock-Based Compensation - Comp

Stock-Based Compensation - Compensation Expense (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 3,892	$ 3,309
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	211	264
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 3,681	$ 3,045

Stock-Based Compensation - Weig

Stock-Based Compensation - Weighted-Average Assumptions (Details)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Stock-Based Compensation
Expected volatility	77.59%	77.43%
Range of expected volatility, Minimum	75.84%	76.68%
Range of expected volatility, Maximum	81.63%	84.48%
Range of risk free interest rate, Minimum	0.34%	1.74%
Range of risk free interest rate, Maximum	1.77%	2.59%
Expected term of option	6 years 10 days	6 years 14 days
Expected dividend yield	0.00%	0.00%

Stock-Based Compensation - Opti

Stock-Based Compensation - Options Outstanding (Details) - Employee Stock Option [Member] - $ / shares	6 Months Ended
	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding - Number of Options, Beginning Balance	18,268,372
Exercised - Number of Options	(2,774,473)
Granted - Number of Options	1,145,686
Expired - Number of Options	(85,847)
Forfeited - Number of Options	(647,417)
Outstanding - Number of Options, Ending Balance	15,906,321
Vested and expected to vest - Number of options	15,906,321
Exercisable - Number of Options	8,798,385
Outstanding - Weighted Average Exercise Price, Beginning balance	$ 2.58
Exercised - Weighted Average Exercise Price	1.39
Granted - Weighted Average Exercise Price	2.96
Expired - Weighted Average Exercise Price	5.27
Forfeited - Weighted Average Exercise Price	3.89
Outstanding - Weighted Average Exercise Price, Ending Balance	2.75
Vested and expected to vest - Weighted Average Exercise Price	2.75
Exercisable - Weighted Average Exercise Price	$ 2.21

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 1.99	$ 2.20
Performance Share Based Compensation Expense	$ 36,000	$ 43,000
Share Based Payment Cash Received from Stock Option Exercises	$ 3,800,000	$ 38,000
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Granted Expire Terms	5 years
Long Term Incentive Plan2011 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	10,939,840

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Income Taxes
Unrecognized Tax Benefits	$ 0	$ 2.6

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in common stock	$ 934,000	$ 625,000
Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets		287,000
Level 1 | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in common stock	934,000	625,000
Level 1 | Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets		0
Level 2 | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in common stock	0	0
Level 2 | Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets		0
Level 3 | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in common stock	$ 0	0
Level 3 | Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets		$ 287,000

Fair Value Measurements - fdr (

Fair Value Measurements - fdr (Details) $ in Thousands	Jun. 30, 2020USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible assets	$ 300
Assets held for sale	1,250
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible assets	0
Assets held for sale	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible assets	0
Assets held for sale	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible assets	300
Assets held for sale	$ 1,250

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details)	12 Months Ended
	Dec. 31, 2019USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of equipment	$ 386,000
Equipment leased to Juventas [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount	673,000
Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets	$ 287,000

Related Party Transactions (Det

Related Party Transactions (Details)	Jul. 01, 2019CNY (¥)	Jul. 01, 2019USD ($)	Jun. 30, 2020CNY (¥)	Jun. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Spectrum [Member]
Related Party Transaction [Line Items]
Accounts Payable, Related Parties, Current							$ 200,000
Amount of Expense Incurred							2,600,000
Spectrum [Member] | EVOMELA [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Purchase Obligation Commitments								$ 9,200,000
Related Party Transaction, Purchases from Related Party							$ 7,800,000
Juventas Cell Therapy Ltd [Member]
Related Party Transaction [Line Items]
Lessor, Operating Lease, Term of Contract	1 year	1 year
Operating Lease, Lease Income, Lease Payments	¥ 80,000	$ 15,000
Operating Lease, Lease Income						$ 67,000
Loans Advanced To Related Party, Maximum Borrowing Capacity			¥ 30,000,000	$ 4,243,000
Related Party Transaction, Rate			20.00%	20.00%
Interest Income, Related Party					$ 24,000	$ 24,000

Commitments (Details)

Commitments (Details) - 1 months ended Nov. 30, 2019 - CASI Wuxi [Member] $ in Millions, ¥ in Billions	CNY (¥)	USD ($)
Land use right and property, plant and equipment, commitment amount	¥ 1	$ 143
Fixed assets investment, threshold period	3 years

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Jul. 24, 2020	Jun. 30, 2020
Subsequent Event [Line Items]
Shares issued under the offering		493,000
Subsequent Events
Subsequent Event [Line Items]
Shares issued under the offering	23,000,000
Gross proceeds from the offering	$ 43,700,000