CASI Pharmaceuticals (CASI) 10-Q 12 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2022	May 06, 2022
Cover
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2022
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
Entity Address, Address Line Two	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 Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000895051
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		136,062,495

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 29,259	$ 38,704
Investment in equity securities, at fair value	8,225	9,868
Accounts receivable, net of $0 allowance for doubtful accounts	10,086	9,803
Inventories	3,721	1,907
Prepaid expenses and other	1,404	1,688
Total current assets	52,695	61,970
Property, plant and equipment, net	14,580	12,712
Intangible assets, net	11,900	12,203
Long-term investments	40,320	40,128
Right of use assets	8,809	9,107
Other assets	1,260	2,178
Total assets	129,564	138,298
Current liabilities:
Accounts payable	7,171	4,789
Accrued and other current liabilities	6,701	8,397
Total current liabilities	13,872	13,186
Deferred income	2,821	2,828
Other liabilities	14,156	14,325
Total liabilities	30,849	30,339
Commitments and contingencies
Redeemable noncontrolling interest, at redemption value	23,726	23,457
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 March 31, 2022 and December 31, 2021 137,335,787 shares and 139,877,032 shares issued at March 31, 2022 and December 31, 2021, respectively; 136,062,495 shares and 139,797,487 shares outstanding at March 31, 2022 and December 31, 2021, respectively	1,374	1,399
Additional paid-in capital	694,180	694,826
Treasury stock, at cost: 1,273,292 shares and 79,545 shares held at March 31, 2022 and December 31, 2021	(9,068)	(8,034)
Accumulated other comprehensive income	2,129	1,954
Accumulated deficit	(613,626)	(605,643)
Total stockholders' equity	74,989	84,502
Total liabilities, redeemable noncontrolling interest and stockholders' equity	$ 129,564	$ 138,298

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
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)	137,335,787	139,877,032
Common Stock, Shares Outstanding (in shares)	136,062,495	139,797,487
Treasury stock, Shares Held (in shares)	1,273,292	79,545

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues:
Product sales	$ 9,025	$ 5,700
Lease income from a related party	37	36
Total revenues	9,062	5,736
Costs of revenues:
Cost of goods sold	1,977	1,237
Royalty fee	1,781	1,121
Total costs of revenues	3,758	2,358
Gross Profit	5,304	3,378
Operating expenses:
Research and development	3,992	5,258
General and administrative	5,325	5,502
Selling and marketing	3,277	2,715
Acquired in-process research and development	0	5,500
Total operating expenses	12,594	18,975
Loss from operations	(7,290)	(15,597)
Non-operating income (expense):
Interest income, net	74	106
Other income	38	20
Foreign exchange gain	333	219
Change in fair value of investments	(1,555)	1,568
Loss before income tax expense	(8,400)	(13,684)
Net loss	(8,400)	(13,684)
Less: loss attributable to redeemable noncontrolling interest	(417)	(349)
Accretion to redeemable noncontrolling interest redemption value	613	548
Net loss attributable to CASI Pharmaceuticals, Inc.	$ (8,596)	$ (13,883)
Net loss per share (basic)	$ (0.06)	$ (0.11)
Net loss per share (diluted)	$ (0.06)	$ (0.11)
Weighted average number of common stock outstanding (basic)	137,955,910	124,824,588
Weighted average number of common stock outstanding (diluted)	137,955,910	124,824,588
Comprehensive loss:
Net loss	$ (8,400)	$ (13,684)
Foreign currency translation adjustment	248	(172)
Total comprehensive loss	(8,152)	(13,856)
Less: Comprehensive loss attributable to redeemable noncontrolling interest	(344)	(417)
Comprehensive loss attributable to common stockholders	$ (7,808)	$ (13,439)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Preferred Stock	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Other Comprehensive Income /(Loss)	Accumulated Deficit	Total
Balance at Dec. 31, 2020	$ 0	$ 1,240	$ 658,246	$ (8,034)	$ 589	$ (570,501)	$ 81,540
Balance (in shares) at Dec. 31, 2020	0	123,943,829
Issuance of common stock pursuant to financing agreements		$ 159	32,341				32,500
Issuance of common stock pursuant to financing agreements (in shares)		15,853,658
Stock issuance costs	$ 0	$ 0	(2,019)	0	0	0	(2,019)
Stock-based compensation expense, net of forfeitures	0	0	1,998	0	0	0	1,998
Foreign currency translation adjustment	0	0	0	0	(104)	0	(104)
Net loss attributable to CASI Pharmaceuticals, Inc.	0	0	(548)	0	0	(13,335)	(13,883)
Balance at Mar. 31, 2021	$ 0	$ 1,399	690,018	(8,034)	485	(583,836)	100,032
Balance (in shares) at Mar. 31, 2021	0	139,797,487
Balance at Dec. 31, 2021	$ 0	$ 1,399	694,826	(8,034)	1,954	(605,643)	84,502
Balance (in shares) at Dec. 31, 2021	0	139,797,487
Repurchase and retirement of common stock		$ (25)	(1,941)	(1,034)			$ (3,000)
Repurchase and retirement of common stock (in shares)		(3,734,992)					(3,734,992)
Stock-based compensation expense, net of forfeitures	$ 0	$ 0	1,908	0	0	0	$ 1,908
Foreign currency translation adjustment	0	0	0	0	175	0	175
Net loss attributable to CASI Pharmaceuticals, Inc.	0	0	(613)	0	0	(7,983)	(8,596)
Balance at Mar. 31, 2022	$ 0	$ 1,374	$ 694,180	$ (9,068)	$ 2,129	$ (613,626)	$ 74,989
Balance (in shares) at Mar. 31, 2022	0	136,062,495

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (8,400)	$ (13,684)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation for property, plant and equipment	92	179
Amortization of intangible assets	341	337
Reduction in the carrying amount of the right-of-use assets	308	348
Stock-based compensation expense	1,908	1,998
Acquired in-process research and development		5,500
Change in fair value of investments	1,555	(1,568)
Changes in operating assets and liabilities:
Accounts receivable	(283)	(1,193)
Inventories	(1,814)	(1,638)
Prepaid expenses and other assets	1,231	637
Accounts payable	2,378	2,073
Accrued and other current liabilities and other liabilities	(1,539)	(978)
Deferred income	(15)	(12)
Net cash used in operating activities	(4,238)	(8,001)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property, plant and equipment	(2,288)	(981)
Cash paid to acquire in-process research and development		(5,500)
Net cash used in investing activities	(2,288)	(12,067)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from bank borrowings		709
Repurchase of common stock	(3,000)
Stock issuance costs		(2,019)
Proceeds from sale of common stock	0	32,500
Net cash (used in) provided by financing activities	(3,000)	31,190
Effect of exchange rate change on cash and cash equivalents	81	(69)
Net (decrease)/ increase in cash and cash equivalents	(9,445)	11,053
Cash and cash equivalents at beginning of period	38,704	57,064	$ 57,064
Cash and cash equivalents at end of period	29,259	68,117	$ 38,704
Non-cash investing and financing activities:
Purchases of property, plant and equipment in accrued and other current liabilities	$ 2,954	38
Black Belt Tx Limited
CASH FLOWS FROM INVESTING ACTIVITIES
Cash paid to acquire convertible loan		(86)
Cleave Therapeutics, Inc
CASH FLOWS FROM INVESTING ACTIVITIES
Cash paid to acquire convertible loan		$ (5,500)

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	3 Months Ended
	Mar. 31, 2022
DESCRIPTION OF BUSINESS
DESCRIPTION OF BUSINESS	1. DESCRIPTION OF BUSINESS CASI Pharmaceuticals, Inc. (“CASI” or the “Company”) (Nasdaq: CASI) 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 was incorporated in 1991, and in 2012, with new leadership, the Company shifted its business strategy to China and has since built an infrastructure in China that includes sales and marketing, medical affairs, regulatory and clinical development and in the foreseeable future, manufacturing. 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 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 is executing its plan to become a biopharmaceutical leader by launching medicines in the greater China market leveraging its China-based regulatory, clinical and commercial competencies and its global drug development expertise. The Company launched its first commercial product, EVOMELA ® ® Liquidity and Capital Resources Since its inception in 1991, the Company has incurred significant losses from operations and, as of March 31, 2022, has incurred an accumulated deficit of $613.6 million. The Company believes that it has sufficient resources to fund its operations at least one year beyond the date that the interim consolidated financial statements are issued. As of March 31, 2022, the Company had a balance of cash and cash equivalents of $29.3 million, of which $19.1 million was held in the financial institutions in the PRC. 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 or opportunities. Risks and Uncertainties During the peak of the COVID-19 pandemic in 2020, the Company experienced disruptions to the EVOMELA ® ® The Company currently relies on a single source for the supply of EVOMELA ® ® Acrotech to negotiate an agreement with a substitute supplier, which, assuming a substitute supplier was available, would likely interrupt the manufacturing of EVOMELA ® 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 ® ®

License and Distribution Agreem

License and Distribution Agreements	3 Months Ended
	Mar. 31, 2022
License and Distribution Agreements
License and Distribution Agreements	2. License and Distribution Agreements Acrotech License Arrangements ® ® ® ® ® ® ​ China Resources Pharmaceutical Commercial Group International Trading Co., Ltd. In March 2019, the Company entered into a three-year exclusive distribution agreement with China Resources Pharmaceutical Commercial Group International Trading Co., Ltd. (“CRPCGIT”) to appoint CRPCGIT on an exclusive basis as its distributor to distribute EVOMELA ® Juventas Cell Therapy (“Juventas”) 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 (the “Juventas license agreement”). Juventas is a China-based company engaged in cell therapy. The terms of the agreement include RMB 70 million ($10 million) of milestone payments upon the registration of Phase II clinical trial of CNCT19 and sales royalty payments. The milestone was met during the quarter ended September 30, 2020. As a result, the Company paid the milestone payment of RMB 70 million to Juventas in September 2020, which was expensed as acquired in-process research and development in the consolidated statement of operations and comprehensive loss for the year ended December 31, 2020. In September 2020, Juventas and its shareholders (including CASI Biopharmaceuticals) agreed to certain terms and conditions required by a new third-party investor to facilitate the Series B financing of Juventas, pursuant to which the Company agreed to amend and supplement the original licensing agreement (the "Supplementary Agreement") by agreeing to pay Juventas certain percentage of net profits generated from commercial sales of CNCT19 in addition to the royalty fee payment calculated as a percentage of net sales. The Supplementary Agreement also specifies a minimum annual target net profit to be distributed to Juventas and certain other terms and obligations. In return, the Company obtained additional equity interests in Juventas. Under the Supplementary Agreement, Juventas and the Company will jointly market CNCT19, including, but not limited to, establishing medical teams, developing medical strategies, conducting post-marketing clinical studies, establishing Standardized Cell Therapy Centers, establishing and training providers with respect to cell therapy, testing for cell therapy, and monitoring quality controls (cell collection and transfusion, etc.), and patient management (adverse reactions treatment, patients’ follow-up visits, and establishment of a database). The Company also will reimburse Juventas for a portion of Juventas’ marketing expenses as reviewed and approved by a joint commercial committee to be constituted. The Company will continue to be responsible for recruiting and establishing a sales team to commercialize CNCT19. BioInvent International AB In October 2020, the Company entered into an exclusive licensing agreement with BioInvent International AB (“BioInvent”) for the development and commercialization of novel anti-FcγRIIB antibody, BI-1206, in mainland China, Taiwan, Hong Kong and Macau. BioInvent is a biotechnology company focused on the discovery and development of first-in-class immune-modulatory antibodies for cancer immunotherapy. BI-1206 is being investigated in a Phase 1/2 trial, in combination with anti-PD1 therapy Keytruda ® ® Under the terms of the agreement, BioInvent and CASI will develop BI-1206 in both hematological malignancies and solid tumors, with CASI responsible for commercialization in China and associated markets. CASI made a $5.9 million upfront payment in November 2020 to BioInvent and will pay up to $83 million in development and commercial milestone payments plus tiered royalties in the high-single to mid-double-digit range on net sales of BI-1206. Because BI-1206 underlying the acquired rights has not reached technological feasibility and has no alternative future uses, the Company expensed $5.9 million as acquired in-process research and development in 2020. 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). The Company expects that its clinical materials and commercial inventory will be supplied by one or more contract manufacturers with whom the Company has contracted with. Under the terms of the agreement, CASI obtained global rights to CID-103 for an upfront payment of 5 million euros ($5.7 million) and would pay up to $46.3 million in development milestone payments and certain royalties based on sales milestones. In June 2021, the Company achieved the First-Patient-In (FPI) in the Phase 1 dose escalation and expansion study of CID-103, and made $750,000 milestone payment in June 2021 and €250,000 ($305,000) payment in August 2021 under the terms of the agreement. Because CID-103 underlying the acquired rights has not yet reached technological feasibility and has no alternative uses, the Company expensed 5 million euros and $1.1 million as acquired in-process research and development, respectively, in 2019 and 2021. Cleave Therapeutics, Inc. In March 2021, the Company entered into an exclusive license with Cleave Therapeutics, Inc. (“Cleave”) for the development and commercialization of CB-5339, an oral novel VCP/p97 inhibitor, in both hematological malignancies and solid tumors, in Mainland China, Hong Kong, Macau and Taiwan. Cleave is a clinical-stage biopharmaceutical company focused on valosin-containing protein (VCP)/p97 as a novel target in protein homeostasis, DNA damage response and other cellular stress pathways for therapeutic use in the treatment of patients with cancer. Cleave and the Company will develop CB-5339 in both hematological malignancies and solid tumors, with CASI responsible for development and commercialization in China and associated markets. The Company paid a $5.5 million upfront payment to Cleave and will pay up to $74 million in development and commercial milestone payments plus tiered royalties in the high-single to mid-double-digit range on net sales of CB-5339. CB-5339 is being evaluated by Cleave in a Phase 1 clinical trial in patients with acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS). Because CB-5339 has not yet reached technological feasibility and has no alternative future uses, the Company expensed the $5.5 million upfront payment as acquired in-process research and development in 2021. 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, 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. CASI intends to advance the development, import drug registration, and market approval of this product in China. 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, of which 1.5 million euros ( $1.7 million) was paid by the Company with achievements of certain milestones and was expensed as acquired in-process research and development in 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 an agreed supply costs for the first three years . Riemser Pharma GmbH In August 2019, the Company entered into a distribution agreement in China with Riemser Pharma GmbH (“Riemser”) to a novel formulation of thiotepa, a chemotherapeutic agent, which has multiple potential indications including use as a conditioning treatment for use prior to allogenic hematopoietic stem cell transplantation. Thiotepa has a long history of established use in the hematology/oncology setting. Pursuant to the distribution agreement, CASI obtained the exclusive distribution right of the products in China, and Riemser will be responsible for manufacturing and supplying CASI with clinical materials and commercial inventory. The Company is applying NADA registration and, subject to regulatory and marketing approvals, the Company intends to advance and commercialize this product in China. In January 2020, Riemser was acquired by Esteve Healthcare, S.L. (“ESTEVE”), an international pharmaceutical company headquartered in Barcelona, Spain. There is no contingent milestone payment due to Riemser under the agreement.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	3. Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Use of Estimates The preparation of 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 inventories, deferred tax assets and valuation allowance, allowance for doubtful accounts, stock-based arrangements and fair value of investments. 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. Recent Accounting Pronouncement s In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance. This update requires certain annual disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. This update is effective for annual periods beginning after December 15, 2021, and early application is permitted. This guidance should be applied either prospectively to all transactions that are reflected in financial statements at the date of initial application and new transactions that are entered into after the date of initial application or retrospectively to those transactions. The Company does not expect the impact of this guidance to have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326) (“ASU 2016-13”) and subsequent amendments to the initial guidance including ASU No. 2018-19, ASU No. 2019-04, and ASU No. 2019-05 (collectively, “Topic 326”). Topic 326 requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost. This standard is effective for public business entities, excluding entities eligible to be smaller reporting companies for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. For all other entities, this standard is effective for annual and interim periods beginning after December 15, 2022 and early adoption is permitted for annual and interim periods beginning after December 15, 2018. As a smaller reporting company, the Company expects to adopt this standard in fiscal year 2023. The Company is currently assessing the impact that the adoption of this ASU will have on the consolidated financial statements.

Revenue Related Information

Revenue Related Information	3 Months Ended
	Mar. 31, 2022
Revenue Related Information
Revenue Related Information	4. The Company’s revenue is primarily consisted of sales of EVOMELA ®

Investment in Equity Securities

Investment in Equity Securities, at Fair Value and Long-term Investments	3 Months Ended
	Mar. 31, 2022
Investment in Equity Securities, at Fair Value and Long-term Investments
Investment in Equity Securities, at Fair Value and Long-term Investments	5. Investment in Equity Securities, at Fair Value and Long-term Investments Investment in Equity Securities, at Fair Value The following table summarizes the Company’s investment in equity securities at fair value as of March 31, 2022 and December 31, 2021, respectively: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ unrealized ​ Aggregate fair March 31, 2022 Classification Cost gains /(losses) value MaxCyte - equity interest Investment ​ $ — ​ $ 2,673 ​ $ 2,673 BioInvent - equity interest Investment ​ $ 5,661 ​ $ (109) ​ $ 5,552 Total ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 8,225 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ unrealized ​ Aggregate fair December 31, 2021 Classification Cost gains value MaxCyte - equity interest Investment ​ $ — ​ $ 3,866 ​ $ 3,866 BioInvent - equity interest Investment ​ $ 5,661 ​ $ 341 ​ $ 6,002 Total ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 9,868 ​ Unrealized gains on the Company’s equity investment for the three months ended March 31, 2022 and 2021 were nil and $1.9 million, respectively. Unrealized losses on the Company’s equity investment for the three months ended March 31, 2022 and 2021 were $1.6 million and $0.2 million, respectively. Unrealized gains (losses) on the Company’s equity investments are recognized as change in fair value of investment in the consolidated statements of operations and comprehensive loss. Long-term Investments Long-term investments as of March 31, 2022 and December 31, 2021 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Foreign ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ unrealized ​ currency ​ ​ ​ March 31, 2022 ​ ​ ​ ​ unrealized ​ losses (including ​ translation ​ Aggregate (In thousands) Cost gains impairment) adjustment fair value Available-for-sale debt securities: ​ ​ ​ ​ ​ ​ ​ Alesta Therapeutics B.V. - convertible loan ​ $ 261 ​ $ 10 ​ $ — ​ $ — ​ $ 271 Securities measured at fair value: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ BioInvent International AB - warrants ​ ​ 656 ​ ​ — ​ ​ (123) ​ ​ — ​ ​ 533 Cleave Therapeutics, Inc. - convertible loan ​ ​ 5,500 ​ ​ 222 ​ ​ — ​ ​ — ​ ​ 5,722 Equity securities without readily determinable fair value: ​ ​ ​ ​ ​ ​ Alesta Therapeutics B.V. - equity interests ​ 2,250 ​ — ​ (865) ​ — ​ 1,385 Juventas Cell Therapy Ltd - equity interests ​ 23,500 ​ 6,958 ​ — ​ 1,951 ​ 32,409 Juventas Cell Therapy Ltd - put option ​ 491 ​ — ​ (521) ​ 30 ​ — Total ​ $ 32,658 ​ $ 7,190 ​ $ (1,509) ​ $ 1,981 ​ $ 40,320 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Foreign ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ unrealized ​ currency ​ ​ ​ December 31, 2021 ​ ​ ​ ​ unrealized ​ losses (including ​ translation ​ Aggregate (In thousands) Cost gains impairment) adjustment fair value Available-for-sale debt securities: ​ ​ ​ ​ ​ ​ ​ Alesta Therapeutics B.V. - convertible loan ​ $ 261 ​ $ 7 ​ $ — ​ $ — ​ $ 268 Securities measured at fair value: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ BioInvent International AB - warrants ​ ​ 656 ​ ​ — ​ ​ (65) ​ ​ — ​ ​ 591 Cleave Therapeutics, Inc. - convertible loan ​ ​ 5,500 ​ ​ 76 ​ ​ — ​ ​ — ​ ​ 5,576 Equity securities without readily determinable fair value: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Alesta Therapeutics B.V. - equity interests ​ 2,250 ​ — ​ (865) ​ — ​ 1,385 Juventas Cell Therapy Ltd - equity interests ​ 23,500 ​ 6,958 ​ — ​ 1,850 ​ 32,308 Juventas Cell Therapy Ltd - put option ​ 491 ​ — ​ (521) ​ 30 ​ — Total ​ $ 32,658 ​ $ 7,041 ​ $ (1,451) ​ $ 1,880 ​ $ 40,128 ​

Inventories

Inventories	3 Months Ended
	Mar. 31, 2022
Inventories
Inventories	6. Inventories The Company’s inventories consist of finished goods amounted to $3.7 million and $1.9 million, as of March 31, 2022 and December 31, 2021, respectively. No write down to the carrying amount of inventory have been recorded in the three months ended March 31, 2022 and 2021.

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment
Property, Plant and Equipment	7. Property, plant and equipment consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ March 31, ​ December 31, ​ 2022 2021 Furniture and equipment ​ $ 1,800 ​ $ 1,728 Leasehold improvements ​ 1,136 ​ 1,133 Construction in progress ​ ​ 13,986 ​ ​ 12,095 Total property, plant and equipment, gross ​ 16,922 ​ 14,956 Accumulated depreciation and amortization ​ ​ (1,914) ​ ​ (1,817) Impairment of property, plant and equipment ​ (428) ​ (427) ​ ​ $ 14,580 ​ $ 12,712 ​

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases
Leases	8. 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 are included in accrued and other current liabilities and other liabilities (noncurrent) in the consolidated balance sheets as of March 31, 2022 and December 31, 2021. 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 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 $6.5 million). Rent expense for the three months ended March 31, 2022 and 2021 was $0.4 million and $0.4 million, respectively. There were no variable lease costs or sublease income for leased assets for the three months ended March 31, 2022 and 2021. Right of use assets and liabilities as of March 31, 2022 and December 31, 2021 on the condensed consolidated balance sheets were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, (In thousands) 2022 2021 ​ Right of use assets ​ $ 8,809 ​ $ 9,107 ​ ​ ​ ​ ​ ​ ​ ​ ​ Accrued and other current liabilities ​ $ 989 ​ $ 1,061 ​ Other liabilities ​ 894 ​ 1,105 ​ Total lease liabilities ​ $ 1,883 ​ $ 2,166 ​ ​ Supplemental cash flow information related to leases was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, (In thousands) ​ 2022 ​ 2021 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ Operating cash flows ​ $ 323 ​ $ 370 ​ ​ ​ ​ ​ ​ ​ Right of use assets obtained in exchange for lease obligations: ​ $ 10 ​ $ — ​ All of the Company’s existing leases as of March 31, 2022 and December 31, 2021 are classified as operating leases. As of March 31, 2022 and December 31, 2021, the Company had nine and eight, respectively, material operating leases for land and facilities with remaining terms expiring from 2022 through 2069 and a weighted average remaining lease term of 37.37 years and 36.47 years, respectively. The Company has fair value renewal options for many 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 for the three months ended March 31, 2022 and 2021 is 3.52% and 3.55%, respectively. 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. A maturity analysis representing the future undiscounted cash flow of the Company’s operating leases liabilities as of March 31, 2022 is as follows: ​ ​ ​ ​ ​ (In thousands) ​ 2022 (remaining nine months) ​ $ 804 2023 ​ 779 2024 ​ 367 Total ​ 1,950 Discount factor ​ (67) Lease liability ​ 1,883 Amounts due within 12 months ​ 989 Non-current lease liability ​ $ 894 ​

Accrued and Other Current Liabi

Accrued and Other Current Liabilities, and Other Liabilities	3 Months Ended
	Mar. 31, 2022
ACCRUED AND OTHER CURRENT LIABILITIES, AND OTHER LIABILITIES
ACCRUED AND OTHER CURRENT LIABILITIES, AND OTHER LIABILITIES	9. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, (In thousands) 2022 2021 Accrued and other current liabilities: ​ ​ ​ ​ ​ ​ Payroll and welfare payable ​ $ 2,142 $ 3,336 Payables related to property and equipment ​ 2,954 ​ ​ 3,288 Lease liabilities-current ​ 989 ​ ​ 1,061 Value-added tax and other tax payable ​ ​ 391 ​ ​ 652 Other ​ ​ 225 ​ 60 ​ ​ $ 6,701 ​ $ 8,397 ​ ​ ​ ​ ​ ​ ​ Other Liabilites ​ ​ ​ ​ ​ ​ Profit-sharing liabiliy to Juventas ​ $ 13,262 ​ $ 13,220 Lease liabilities-noncurrent ​ ​ 894 ​ ​ 1,105 ​ ​ $ 14,156 ​ $ 14,325 ​

Redeemable Noncontrolling Inter

Redeemable Noncontrolling Interest	3 Months Ended
	Mar. 31, 2022
Redeemable Noncontrolling Interest
Redeemable Noncontrolling Interest	10. Redeemable Noncontrolling Interest Changes in redeemable noncontrolling interest during the three month periods ended March 31, 2022 and 2021 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ (In thousands) ​ 2022 ​ 2021 ​ Balance at beginning of period ​ $ 23,457 $ 22,033 ​ Share of CASI Wuxi net loss ​ (417) ​ ​ (349) ​ Accretion of redeemable noncontrolling interest ​ 613 ​ ​ 548 ​ Foreign currency translation adjustment ​ ​ 73 ​ ​ (68) ​ Balance at end of period ​ $ 23,726 $ 22,164 ​ ​

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity
Stockholders' Equity	11. Stockholders’ Equity Stock Repurchase Program ​ On December 15, 2021, the board of directors of CASI Pharmaceuticals, Inc. (the “Company”) approved a stock repurchase program for the repurchase of up to $10 million of the Company’s common stock (and no more than 12,500,000 shares of the Company’s common stock) through open market purchases in compliance with Rule 10b-18 under the Securities Exchange Act of 1934 and through trading plans established pursuant to Rule 10b5-1 of the Securities Exchange Act. The trading plan was terminated on March 31, 2022, and as of March 31, 2022, the Company has repurchased 3,734,992 shares of common stock amounted to $3.0 million. ​ March 2021 Underwritten Public Offering ​ On March 24, 2021, the Company closed an underwritten public offering of 15,853,658 shares of the Company’s common stock (the “Offering”) at a price to the public of $2.05 per share. The gross proceeds to CASI from the Offering were $32.5 million before deducting the underwriting discounts and commissions and offering expenses payable by CASI. The Company is using 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. Common Stock Sales Agreements On July 19, 2019, the Company entered into an Open Market Sale Agreement SM 31, 2022, the Company has not offered and sold any shares of common stock under the Open Market Agreement. As of March 31, 2022, the Company has issued 493,000 shares with net proceeds of $1.5 million, with remained $28.5 million available under the Open Market Agreement. On October 29, 2021, the Company has entered into a common stock sales agreement (“Stock Sales Agreement”), with H.C. Wainwright & Co., LLC, relating to shares of common stock of the Company. In accordance with the terms of the sales agreement, the Company may offer and sell shares of common stock in “at-the-market” transactions, subject to compliance with the terms and conditions of the Stock Sales Agreement, with an aggregate offering price of not more than $20,000,000. As of March 31, 2022, the Company has not offered or sold any shares of common stock under the sales agreement. Stock Purchase Warrants In history, the Company issued shares of its common stock with accompanying warrants to certain institutional investors, accredited investors and existing stockholders. ​ As of March 31, 2022, the outstanding exercisable

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2022
Net Loss Per Share
Net Loss Per Share	12. Net Loss Per Share Net loss per share (basic and diluted) was computed by dividing net loss attributable to common stockholders, considering the accretions to redemption value of the redeemable noncontrolling interest, by the weighted average number of shares of common stock outstanding. As of March 31, 2022 and December 31, 2021, outstanding stock options totaling 32,491,790 and 33,243,790, respectively, and outstanding warrants both totaling 6,172,832, were anti-dilutive, and therefore, were not included in the computation of weighted average shares used in computing diluted 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 March 31, (In thousands, except share and per share data) 2022 ​ 2021 Numerator: ​ ​ ​ ​ Net loss attributable to CASI Pharmaceuticals, Inc. ​ $ (8,596) ​ $ (13,883) ​ Denominator: ​ ​ ​ ​ ​ ​ Weighted average number of common stock ​ 137,955,910 ​ 124,824,588 ​ Denominator for basic and diluted net loss per share calculation ​ 137,955,910 ​ 124,824,588 ​ Net loss per share ​ ​ ​ ​ ​ — Basic and diluted ​ $ (0.06) ​ $ (0.11) ​ ​

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2022
Stock-Based Compensation
Stock-Based Compensation	13. Stock-Based Compensation The Company has adopted various stock compensation plans for executive, scientific and administrative personnel of the Company, as well as outside directors and consultants. The stock-based compensation expenses are recorded as components of research and development expense, sales and marketing expense, and general and administrative expense, as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ (In thousands) 2022 2021 Research and development ​ $ 178 ​ $ 75 ​ Sales and Marketing ​ ​ 59 ​ ​ 33 ​ General and administrative ​ 1,671 ​ 1,890 ​ Stock-based compensation expense ​ $ 1,908 ​ $ 1,998 ​ ​

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Taxes
Income Taxes	14. Income Taxes At December 31, 2021, the Company had a $1.4 million unrecognized tax benefit. The Company recorded a full valuation allowance on the deferred tax asset after offsetting unrecognized tax benefit recognized in the consolidated financial statements as of December 31, 2021. During the three months ended March 31, 2022, there were no material changes to the measurement of unrecognized tax benefits in various tax jurisdictions.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Measurements
Fair Value Measurements	15. Fair Value Measurements Financial instruments of the Company primarily consist of cash and cash equivalents, investment in equity securities, accounts receivable, long-term investments, accounts payable, accrued liabilities, notes payable and bank borrowings. As of March 31, 2022 and December 31, 2021, the carrying amount of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, notes payable and bank borrowings are carried at cost which approximates their fair values due to the short-term nature of the instruments. ​ 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 equity investments in the common stock of two publicly traded companies. The Company’s investments in these equity securities are carried at their estimated fair value, with changes in fair value reported in the consolidated statement of operations and comprehensive loss each reporting period. The fair value of the common stock is based on quoted market price for the investees’ common stock, a Level 1 input. The Company has an equity investment in the warrants of a publicly traded company. The Company’s investment 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. The fair value of the warrants was measured using observable market-based inputs other than quoted prices in active markets for identical assets, level 2 inputs. The Company uses the Black-Scholes-Merton valuation model to estimate the fair value of warrants. Option valuation models, including Black-Scholes-Merton, require the input of highly subjective assumptions, and changes in the assumptions used can materially affect the fair value determination of a warrant. The Company has an investment in the convertible debt of Black Belt Tx. The Company’s investment 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 using Level 3 input. The Company has an investment in the convertible debt of Cleave. The Company’s investment 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 using Level 3 input. The unpaid balance for this convertible debt amounted to $5.7 million and $5.6 million as of March 31, 2022 and December 31, 2021, respectively. The following tables present the Company’s financial assets accounted for at fair value on a recurring basis as of March 31, 2022 and December 31, 2021, by level within the fair value hierarchy: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Fair Value at ​ ​ ​ ​ ​ ​ ​ ​ ​ Description March 31, 2022 Level 1 Level 2 Level 3 Investments classified as Current and non-Current Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investments in common stock ​ $ 8,225 ​ $ 8,225 ​ $ — ​ $ — Investment in warrants - Designated as investment measured at FVTPL ​ $ 533 ​ $ — ​ $ 533 ​ $ — Investment in convertible loan - AFS ​ $ 271 ​ $ — ​ $ — ​ $ 271 Investment in convertible loan - Designated as investment measured at FVTPL ​ $ 5,722 ​ $ — ​ $ — ​ $ 5,722 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quantitative Information about Level 3 Fair Value Measurements ​ ​ Fair Value at ​ Valuation ​ Unobservable ​ ​ ​ Description March 31, 2022 Techniques Input Average/Median Investment in convertible loan - Designated as investment measured at FVTPL ​ $ 5,722 ​ ​ Discounted cash flow ​ ​ Discount rate ​ ​ 20%/20% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) Fair Value at ​ ​ ​ ​ ​ ​ ​ ​ ​ Description December 31, 2021 Level 1 Level 2 Level 3 Investments classified as Current and non-Current Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investments in common stock ​ $ 9,868 ​ $ 9,868 ​ $ — ​ $ — Investment in warrants - Designated as investment measured at FVTPL ​ $ 591 ​ $ — ​ $ 591 ​ $ — Investment in convertible loan - AFS ​ $ 268 ​ $ — ​ $ — ​ $ 268 Investment in convertible loan - Designated as investment measured at FVTPL ​ $ 5,576 ​ $ — ​ $ — ​ $ 5,576 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quantitative Information about Level 3 Fair Value Measurements ​ ​ Fair Value at ​ Valuation ​ Unobservable ​ ​ ​ Description December 31, 2021 Techniques Input Average/Median Investment in convertible loan - Designated as investment measured at FVTPL ​ $ 5,576 ​ ​ Discounted cash flow ​ ​ Discount rate ​ ​ 20%/20% ​ Financial Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis The Company measures equity investments without readily determinable fair values at its cost, minus impairment, if any, plus or minus changes resulting from observable transactions of identical or similar securities of the same issuer. ​ Non-Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis The Company has no non-financial assets and liabilities Non-Financial Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis The Company has no non-financial assets and liabilities

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transactions
Related Party Transactions	16. Related Party Transactions Juventas. March 2021 Underwritten Public Offering Transactions. ETP BioHealth III Fund LP (“ETP BioHealth”), in which CASI's Chairman and CEO is the founder and managing partner of ETP BioHealth ’

Commitments and Contignencies

Commitments and Contignencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contignencies
Commitments and Contignencies	17. Commitments and Contignencies In conjunction with the Cleave agreement entered into during 2021 (see Note 2), the Company is responsible for certain milestone and royalty payments. As of March 31, 2022, no milestones have been achieved. ​ In conjunction with the BioInvent agreement entered into during 2020 (see Note 2), the Company is responsible for certain milestone and royalty payments. As of March 31, 2022, no milestones have been achieved. ​ In conjunction with the Black Belt agreement entered into during 2019 (see Note 2), the Company is responsible for certain milestone and royalty payments. In June 2021, the Company achieved the First-Patient-In (FPI) in the Phase 1 dose escalation and expansion study of CID-103, and made $750,000 milestone payment in June 2021 and 250,000 euros ($305,000) in August 2021. As of March 31, 2022, no other milestones have been achieved. ​ In conjunction with the Pharmathen agreement entered into during 2019 (see Note 2), the Company is responsible for one remaining milestone payment. As of March 31, 2022, the remaining milestone has not been achieved. ​ 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 has committed to invest land use right and property, plant and equipment of RMB1 billion (equivalent to $143 million) by August 2022. In 2020, for the design and construction work of the land, CASI Wuxi entered into several contracts for RMB 76.1 million ($12.0 million) to complete the phase 1 project of CASI Wuxi's research and development production base, the project was estimated to be completed in October 2023. In February 2022, the Company has reached an alignment with the Wuxi local government that it will collaborate with Wuxi LP to co-develop the land continuously in the future, and the original three-year investment plan will be extended, details regarding the plan are under negotiation. As of March 31, 2022, the commitment under these contracts was RMB 57.9 million ($9.1 million). ​ Also in 2020, CASI Wuxi entered in to a lease agreement with local government for a manufactory building next to the leased land. Since then, the Company entered into a series of contracts for the remodeling and installation work of the building and warehouse, as well as purchase of equipments. The total contract amount entered into for this building is approximately RMB 92.1 million ($14.5 million), and the commitment under these contracts was RMB 6.2 million ($1.0 million) as of March 31, 2022. ​ 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	3 Months Ended
	Mar. 31, 2022
Subsequent Events
Subsequent Events	18. Subsequent Events ​ Based on the FDA withdrawal of the approved US indication for MARQIBO® (Vincristine Sulfate Liposome Injection) in May 2022, the product rights and perpetual exclusive licenses to develop and commercialize MARQIBO® in the greater China region have been returned to Acrotech. There is no financial impact on the Company’s consolidated financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Summary of Significant Accounting Policies
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
Use of Estimates	Use of Estimates The preparation of 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 inventories, deferred tax assets and valuation allowance, allowance for doubtful accounts, stock-based arrangements and fair value of investments. 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.
Recent Accounting Pronouncements	Recent Accounting Pronouncement s In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance. This update requires certain annual disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. This update is effective for annual periods beginning after December 15, 2021, and early application is permitted. This guidance should be applied either prospectively to all transactions that are reflected in financial statements at the date of initial application and new transactions that are entered into after the date of initial application or retrospectively to those transactions. The Company does not expect the impact of this guidance to have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326) (“ASU 2016-13”) and subsequent amendments to the initial guidance including ASU No. 2018-19, ASU No. 2019-04, and ASU No. 2019-05 (collectively, “Topic 326”). Topic 326 requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost. This standard is effective for public business entities, excluding entities eligible to be smaller reporting companies for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. For all other entities, this standard is effective for annual and interim periods beginning after December 15, 2022 and early adoption is permitted for annual and interim periods beginning after December 15, 2018. As a smaller reporting company, the Company expects to adopt this standard in fiscal year 2023. The Company is currently assessing the impact that the adoption of this ASU will have on the consolidated financial statements.

Investment in Equity Securiti_2

Investment in Equity Securities, at Fair Value and Long-term Investments (Tables)	3 Months Ended
	Mar. 31, 2022
Investment in Equity Securities, at Fair Value and Long-term Investments
Schedule of investment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ unrealized ​ Aggregate fair March 31, 2022 Classification Cost gains /(losses) value MaxCyte - equity interest Investment ​ $ — ​ $ 2,673 ​ $ 2,673 BioInvent - equity interest Investment ​ $ 5,661 ​ $ (109) ​ $ 5,552 Total ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 8,225 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ unrealized ​ Aggregate fair December 31, 2021 Classification Cost gains value MaxCyte - equity interest Investment ​ $ — ​ $ 3,866 ​ $ 3,866 BioInvent - equity interest Investment ​ $ 5,661 ​ $ 341 ​ $ 6,002 Total ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 9,868
Schedule of components of long-term investments	Long-term investments as of March 31, 2022 and December 31, 2021 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Foreign ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ unrealized ​ currency ​ ​ ​ March 31, 2022 ​ ​ ​ ​ unrealized ​ losses (including ​ translation ​ Aggregate (In thousands) Cost gains impairment) adjustment fair value Available-for-sale debt securities: ​ ​ ​ ​ ​ ​ ​ Alesta Therapeutics B.V. - convertible loan ​ $ 261 ​ $ 10 ​ $ — ​ $ — ​ $ 271 Securities measured at fair value: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ BioInvent International AB - warrants ​ ​ 656 ​ ​ — ​ ​ (123) ​ ​ — ​ ​ 533 Cleave Therapeutics, Inc. - convertible loan ​ ​ 5,500 ​ ​ 222 ​ ​ — ​ ​ — ​ ​ 5,722 Equity securities without readily determinable fair value: ​ ​ ​ ​ ​ ​ Alesta Therapeutics B.V. - equity interests ​ 2,250 ​ — ​ (865) ​ — ​ 1,385 Juventas Cell Therapy Ltd - equity interests ​ 23,500 ​ 6,958 ​ — ​ 1,951 ​ 32,409 Juventas Cell Therapy Ltd - put option ​ 491 ​ — ​ (521) ​ 30 ​ — Total ​ $ 32,658 ​ $ 7,190 ​ $ (1,509) ​ $ 1,981 ​ $ 40,320 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Foreign ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ unrealized ​ currency ​ ​ ​ December 31, 2021 ​ ​ ​ ​ unrealized ​ losses (including ​ translation ​ Aggregate (In thousands) Cost gains impairment) adjustment fair value Available-for-sale debt securities: ​ ​ ​ ​ ​ ​ ​ Alesta Therapeutics B.V. - convertible loan ​ $ 261 ​ $ 7 ​ $ — ​ $ — ​ $ 268 Securities measured at fair value: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ BioInvent International AB - warrants ​ ​ 656 ​ ​ — ​ ​ (65) ​ ​ — ​ ​ 591 Cleave Therapeutics, Inc. - convertible loan ​ ​ 5,500 ​ ​ 76 ​ ​ — ​ ​ — ​ ​ 5,576 Equity securities without readily determinable fair value: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Alesta Therapeutics B.V. - equity interests ​ 2,250 ​ — ​ (865) ​ — ​ 1,385 Juventas Cell Therapy Ltd - equity interests ​ 23,500 ​ 6,958 ​ — ​ 1,850 ​ 32,308 Juventas Cell Therapy Ltd - put option ​ 491 ​ — ​ (521) ​ 30 ​ — Total ​ $ 32,658 ​ $ 7,041 ​ $ (1,451) ​ $ 1,880 ​ $ 40,128

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment
Schedule of property and equipment	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ March 31, ​ December 31, ​ 2022 2021 Furniture and equipment ​ $ 1,800 ​ $ 1,728 Leasehold improvements ​ 1,136 ​ 1,133 Construction in progress ​ ​ 13,986 ​ ​ 12,095 Total property, plant and equipment, gross ​ 16,922 ​ 14,956 Accumulated depreciation and amortization ​ ​ (1,914) ​ ​ (1,817) Impairment of property, plant and equipment ​ (428) ​ (427) ​ ​ $ 14,580 ​ $ 12,712

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases
Schedule of right of use assets and liabilities on condensed balance sheet	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, (In thousands) 2022 2021 ​ Right of use assets ​ $ 8,809 ​ $ 9,107 ​ ​ ​ ​ ​ ​ ​ ​ ​ Accrued and other current liabilities ​ $ 989 ​ $ 1,061 ​ Other liabilities ​ 894 ​ 1,105 ​ Total lease liabilities ​ $ 1,883 ​ $ 2,166 ​
Schedule of supplemental cash flow information	​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, (In thousands) ​ 2022 ​ 2021 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ Operating cash flows ​ $ 323 ​ $ 370 ​ ​ ​ ​ ​ ​ ​ Right of use assets obtained in exchange for lease obligations: ​ $ 10 ​ $ —
Schedule of future undiscounted cash flows	​ ​ ​ ​ ​ (In thousands) ​ 2022 (remaining nine months) ​ $ 804 2023 ​ 779 2024 ​ 367 Total ​ 1,950 Discount factor ​ (67) Lease liability ​ 1,883 Amounts due within 12 months ​ 989 Non-current lease liability ​ $ 894

Accrued and Other Current Lia_2

Accrued and Other Current Liabilities, and Other Liabilities (Tables)	3 Months Ended
	Mar. 31, 2022
ACCRUED AND OTHER CURRENT LIABILITIES, AND OTHER LIABILITIES
Schedule of accrued and other current liabilities and other liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, (In thousands) 2022 2021 Accrued and other current liabilities: ​ ​ ​ ​ ​ ​ Payroll and welfare payable ​ $ 2,142 $ 3,336 Payables related to property and equipment ​ 2,954 ​ ​ 3,288 Lease liabilities-current ​ 989 ​ ​ 1,061 Value-added tax and other tax payable ​ ​ 391 ​ ​ 652 Other ​ ​ 225 ​ 60 ​ ​ $ 6,701 ​ $ 8,397 ​ ​ ​ ​ ​ ​ ​ Other Liabilites ​ ​ ​ ​ ​ ​ Profit-sharing liabiliy to Juventas ​ $ 13,262 ​ $ 13,220 Lease liabilities-noncurrent ​ ​ 894 ​ ​ 1,105 ​ ​ $ 14,156 ​ $ 14,325

Redeemable Noncontrolling Int_2

Redeemable Noncontrolling Interest (Tables)	3 Months Ended
	Mar. 31, 2022
Redeemable Noncontrolling Interest
Schedule of changes in redeemable noncontrolling interest	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ (In thousands) ​ 2022 ​ 2021 ​ Balance at beginning of period ​ $ 23,457 $ 22,033 ​ Share of CASI Wuxi net loss ​ (417) ​ ​ (349) ​ Accretion of redeemable noncontrolling interest ​ 613 ​ ​ 548 ​ Foreign currency translation adjustment ​ ​ 73 ​ ​ (68) ​ Balance at end of period ​ $ 23,726 $ 22,164 ​

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Net Loss Per Share
Schedule of basic and diluted net loss per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, (In thousands, except share and per share data) 2022 ​ 2021 Numerator: ​ ​ ​ ​ Net loss attributable to CASI Pharmaceuticals, Inc. ​ $ (8,596) ​ $ (13,883) ​ Denominator: ​ ​ ​ ​ ​ ​ Weighted average number of common stock ​ 137,955,910 ​ 124,824,588 ​ Denominator for basic and diluted net loss per share calculation ​ 137,955,910 ​ 124,824,588 ​ Net loss per share ​ ​ ​ ​ ​ — Basic and diluted ​ $ (0.06) ​ $ (0.11) ​

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Stock-Based Compensation
Schedule of compensation expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ (In thousands) 2022 2021 Research and development ​ $ 178 ​ $ 75 ​ Sales and Marketing ​ ​ 59 ​ ​ 33 ​ General and administrative ​ 1,671 ​ 1,890 ​ Stock-based compensation expense ​ $ 1,908 ​ $ 1,998 ​

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Measurements
Schedule of financial assets and liabilities accounted for at fair value on a recurring basis	The following tables present the Company’s financial assets accounted for at fair value on a recurring basis as of March 31, 2022 and December 31, 2021, by level within the fair value hierarchy: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Fair Value at ​ ​ ​ ​ ​ ​ ​ ​ ​ Description March 31, 2022 Level 1 Level 2 Level 3 Investments classified as Current and non-Current Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investments in common stock ​ $ 8,225 ​ $ 8,225 ​ $ — ​ $ — Investment in warrants - Designated as investment measured at FVTPL ​ $ 533 ​ $ — ​ $ 533 ​ $ — Investment in convertible loan - AFS ​ $ 271 ​ $ — ​ $ — ​ $ 271 Investment in convertible loan - Designated as investment measured at FVTPL ​ $ 5,722 ​ $ — ​ $ — ​ $ 5,722 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quantitative Information about Level 3 Fair Value Measurements ​ ​ Fair Value at ​ Valuation ​ Unobservable ​ ​ ​ Description March 31, 2022 Techniques Input Average/Median Investment in convertible loan - Designated as investment measured at FVTPL ​ $ 5,722 ​ ​ Discounted cash flow ​ ​ Discount rate ​ ​ 20%/20% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) Fair Value at ​ ​ ​ ​ ​ ​ ​ ​ ​ Description December 31, 2021 Level 1 Level 2 Level 3 Investments classified as Current and non-Current Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investments in common stock ​ $ 9,868 ​ $ 9,868 ​ $ — ​ $ — Investment in warrants - Designated as investment measured at FVTPL ​ $ 591 ​ $ — ​ $ 591 ​ $ — Investment in convertible loan - AFS ​ $ 268 ​ $ — ​ $ — ​ $ 268 Investment in convertible loan - Designated as investment measured at FVTPL ​ $ 5,576 ​ $ — ​ $ — ​ $ 5,576 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quantitative Information about Level 3 Fair Value Measurements ​ ​ Fair Value at ​ Valuation ​ Unobservable ​ ​ ​ Description December 31, 2021 Techniques Input Average/Median Investment in convertible loan - Designated as investment measured at FVTPL ​ $ 5,576 ​ ​ Discounted cash flow ​ ​ Discount rate ​ ​ 20%/20% ​

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Description of Business and Basis of Presentation [Line Items]
Accumulated deficit	$ (613,626)	$ (605,643)
Cash and cash equivalents	29,259	$ 38,704
CASI China
Description of Business and Basis of Presentation [Line Items]
Cash and cash equivalents	$ 19,100

License and Distribution Agre_2

License and Distribution Agreements (Details) ¥ in Millions

Oct. 29, 2019

Aug. 31, 2021USD ($)

Aug. 31, 2021EUR (€)

Jun. 30, 2021USD ($)

Mar. 31, 2021USD ($)

Nov. 30, 2020USD ($)

Sep. 30, 2020USD ($)

Sep. 30, 2020CNY (¥)

Apr. 30, 2019USD ($)

Apr. 30, 2019EUR (€)

Mar. 31, 2019

Mar. 31, 2022USD ($)

Mar. 31, 2021USD ($)

Dec. 31, 2021USD ($)

Dec. 31, 2020USD ($)

Dec. 31, 2020EUR (€)

Dec. 31, 2019EUR (€)

Aug. 31, 2021EUR (€)

License and Distribution Agreements

Acquired in-process research and development

$ 0

$ 5,500,000

China Resources Guokang Pharmaceuticals Co., Ltd

License and Distribution Agreements

Non Royalty Exclusive Distribution Period

3 years

Non royalty exclusive distribution additional period

2 years

Pharmathen Global BV

License and Distribution Agreements

Upfront payment | €

€ 1,000,000

Non Royalty Exclusive Distribution Period

10 years

Additional milestone payments paid

$ 1,700,000

€ 1,500,000

Non-royalty exclusive distribution period at agreed cost

3 years

Pharmathen Global BV | Maximum

License and Distribution Agreements

Additional milestone payments paid | €

€ 2,000,000

Black Belt Therapeutics Ltd

License and Distribution Agreements

Upfront payment

$ 5,700,000

€ 5,000,000

€ 5,000,000

Milestone payment

$ 305,000

€ 250,000

$ 750,000

Accrued milestone payment

$ 305,000

€ 250,000

In-process research and development expensed

$ 1,100,000

Potential milestones and royalties of up to

$ 46,300,000

Cleave Therapeutics, Inc

License and Distribution Agreements

Upfront payment

$ 5,500,000

Acquired in-process research and development

$ 5,500,000

Cleave Therapeutics, Inc | Maximum

License and Distribution Agreements

Milestone payment

$ 74,000,000

Juventas Cell Therapy Ltd.

License and Distribution Agreements

Milestone payment

$ 10,000,000

¥ 70

BioInvent International AB

License and Distribution Agreements

Upfront payment

$ 5,900,000

Acquired in-process research and development

$ 5,900,000

BioInvent International AB | Maximum

License and Distribution Agreements

Potential milestones and royalties of up to

$ 83,000,000

Riemser Pharma GmbH

License and Distribution Agreements

Contingent milestone payment

$ 0

Investment in Equity Securiti_3

Investment in Equity Securities, at Fair Value and Long-term Investments - Summary of Investments (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Gross unrealized gains /(losses)	$ (1,555)	$ 1,568
Common Stock
Equity securities at fair value	8,225		$ 9,868
Common Stock | MaxCyte Inc.
Gross unrealized gains /(losses)	2,673		3,866
Equity securities at fair value	2,673		3,866
Common Stock | BioInvent International AB
Cost	5,661		5,661
Gross unrealized gains /(losses)	(109)		341
Equity securities at fair value	$ 5,552		$ 6,002

Investment in Equity Securiti_4

Investment in Equity Securities, at Fair Value and Long-term Investments - Summary of Long-term investments (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Schedule Of Long Term Investments
Cost	$ 32,658	$ 32,658
Gross unrealized gains	7,190	7,041
Gross unrealized losses (including impairment)	(1,509)	(1,451)
Foreign currency translation adjustment	1,981	1,880
Aggregate fair value	40,320	40,128
Alesta Tx | Available-for-sale debt securities | Convertible loan
Schedule Of Long Term Investments
Cost	261	261
Gross unrealized gains	10	7
Aggregate fair value	271	268
Alesta Tx | Equity securities without readily determinable fair value | Equity Securities
Schedule Of Long Term Investments
Cost	2,250	2,250
Gross unrealized losses (including impairment)	(865)	(865)
Aggregate fair value	1,385	1,385
Juventas Cell Therapy Ltd. | Equity securities without readily determinable fair value | Equity Securities
Schedule Of Long Term Investments
Cost	23,500	23,500
Gross unrealized gains	6,958	6,958
Foreign currency translation adjustment	1,951	1,850
Aggregate fair value	32,409	32,308
Juventas Cell Therapy Ltd. | Equity securities without readily determinable fair value | Put option
Schedule Of Long Term Investments
Cost	491	491
Gross unrealized losses (including impairment)	(521)	(521)
Foreign currency translation adjustment	30	30
BioInvent International AB | Securities measured at fair value | Warrants
Schedule Of Long Term Investments
Cost	656	656
Gross unrealized losses (including impairment)	(123)	(65)
Aggregate fair value	533	591
Cleave Therapeutics, Inc | Securities measured at fair value | Convertible loan
Schedule Of Long Term Investments
Cost	5,500	5,500
Gross unrealized gains	222	76
Aggregate fair value	$ 5,722	$ 5,576

Investment in Equity Securiti_5

Investment in Equity Securities, at Fair Value and Long-term Investments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Investment in Equity Securities, at Fair Value and Long-term Investments
Unrealized gains	$ 0	$ 1.9
Unrealized losses	$ 1.6	$ 0.2

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Inventories
Finished goods	$ 3,700		$ 1,900
Inventory write down	$ 0	$ 0

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment
Furniture and equipment	$ 1,800	$ 1,728
Leasehold improvements	1,136	1,133
Construction in progress	13,986	12,095
Total property, plant and equipment, gross	16,922	14,956
Accumulated depreciation and amortization	(1,914)	(1,817)
Impairment of property, plant and equipment	(428)	(427)
Total property, plant and equipment, net	$ 14,580	$ 12,712

Leases - (Details)

Leases - (Details) $ in Thousands, ¥ in Millions	1 Months Ended		3 Months Ended		12 Months Ended
	Nov. 30, 2019USD ($)m²	Nov. 30, 2019CNY (¥)m²	Mar. 31, 2022USD ($)lease	Mar. 31, 2021USD ($)	Dec. 31, 2021lease
Rent expenses			$ 400	$ 400
Number of operating lease | lease			9		8
Weighted average remaining lease term			37 years 4 months 13 days		36 years 5 months 19 days
Weighted average discount rates			3.52%	3.55%
Variable lease costs			$ 0	$ 0
Sublease income			$ 0	$ 0
CASI Wuxi
Term of 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	$ 6,500	¥ 45

Leases - Right of Use Assets an

Leases - Right of Use Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Right of use assets	$ 8,809	$ 9,107
Operating Lease, Liability	$ 1,883	$ 2,166
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Right of use assets	Right of use assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued And Other Liabilities, Current	Accrued And Other Liabilities, Current
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Operating Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:AccruedLiabilitiesCurrent, Other Liabilities, Noncurrent	us-gaap:AccruedLiabilitiesCurrent, Other Liabilities, Noncurrent
Accrued Liabilities-Current
Operating Lease, Liability	$ 989	$ 1,061
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued And Other Liabilities, Current	Accrued And Other Liabilities, Current
Other Liabilities-Long Term
Operating Lease, Liability	$ 894	$ 1,105
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows	$ 323	$ 370
Right of use assets obtained in exchange for lease obligations	$ 10

Leases - Future Undiscounted Ca

Leases - Future Undiscounted Cash Flows (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Leases
2022 (remaining nine months)	$ 804
2023	779
2024	367
Total	1,950
Discount factor	(67)
Lease liability	1,883	$ 2,166
Amounts due within 12 months	989	1,061
Non-current lease liability	$ 894	$ 1,105

Accrued and Other Current Lia_3

Accrued and Other Current Liabilities, and Other Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
ACCRUED AND OTHER CURRENT LIABILITIES, AND OTHER LIABILITIES
Payroll and welfare payable	$ 2,142	$ 3,336
Payables related to property and equipment	2,954	3,288
Lease liabilities-current	$ 989	$ 1,061
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued and other current liabilities	Accrued and other current liabilities
Value-added tax and other tax payable	$ 391	$ 652
Other	225	60
Accrued and other current liabilities	6,701	8,397
Profit-sharing liabiliy to Juventas	13,262	13,220
Lease liabilities-noncurrent	$ 894	$ 1,105
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other Liabilities	Other Liabilities
Other Liabilities	$ 14,156	$ 14,325

Redeemable Noncontrolling Int_3

Redeemable Noncontrolling Interest - Changes in Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Redeemable Noncontrolling Interest
Balance at beginning of period	$ 23,457	$ 22,033
Share of CASI Wuxi net loss	(417)	(349)
Accretion of redeemable noncontrolling interest	613	548
Foreign currency translation adjustment	73	(68)
Balance at end of period	$ 23,726	$ 22,164

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	Mar. 24, 2021	Jul. 19, 2019	Mar. 31, 2022	Oct. 29, 2021	Dec. 15, 2015
Repurchase of common stock (in shares)			3,734,992
Repurchase of common stock			$ 3,000,000
Shares issued	15,853,658
Offering price per share	$ 2.05
Gross proceeds from the offering	$ 32,500,000
Warrants outstanding (in shares)			6,172,832
Warrants exercisable (in shares)			6,172,832
Maximum
Stock repurchase program, Authorized amount					$ 10,000,000
Stock repurchase program, Number of shares authorized to be repurchased					12,500,000
Weighted Average
Warrants outstanding, exercise price			$ 3.69
Warrants exercisable, exercise price			$ 3.69
Sales Agreement
Shares issued			493,000
Net proceeds from issuance of common stock			$ 1,500,000
Remaining amount available under the sales agreement			$ 28,500,000
Open Market Sale Agreement
Maximum Sales Price from Issuance of Common Stock		$ 30,000,000
Stock Sale Agreement | H.C. Wainwright Co., LLC
Public offering price				$ 20,000,000
Public Offering Price				$ 20,000,000

Net Loss Per Share (Details)

Net Loss Per Share (Details) - shares	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Options
Antidilutive securities excluded from computation of earnings per share amount	32,491,790	33,243,790
Warrant
Antidilutive securities excluded from computation of earnings per share amount	6,172,832	6,172,832

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
	Mar. 31, 2022	Mar. 31, 2021
Numerator:
Net loss attributable to CASI Pharmaceuticals, Inc.	$ (8,596)	$ (13,883)
Denominator:
Weighted average number of common stock	137,955,910	124,824,588
Denominator for basic and diluted net loss per share calculation	137,955,910	124,824,588
Net loss per share (basic)	$ (0.06)	$ (0.11)
Net loss per share (diluted)	$ (0.06)	$ (0.11)

Stock-Based Compensation - Comp

Stock-Based Compensation - Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	$ 1,908	$ 1,998
Research and development
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	178	75
Sales and Marketing
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	59	33
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	$ 1,671	$ 1,890

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Income Taxes
Unrecognized tax benefits	$ 0	$ 1.4

Fair Value Measurements - Finan

Fair Value Measurements - Financial and Non-Financial Assets and Liabilities (Details) - Recurring $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments in common stock	$ 8,225	$ 9,868
Investment in warrants - Designated as investment measured at FVTPL	533	591
Investment in convertible loan-AFS	271	268
Investment in convertible loan-Designated as investment measured at FVTPL	5,722	5,576
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments in common stock	8,225	9,868
Investment in warrants - Designated as investment measured at FVTPL	0	0
Investment in convertible loan-AFS	0	0
Investment in convertible loan-Designated as investment measured at FVTPL	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments in common stock	0	0
Investment in warrants - Designated as investment measured at FVTPL	533	591
Investment in convertible loan-AFS	0	0
Investment in convertible loan-Designated as investment measured at FVTPL	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investments in common stock	0	0
Investment in warrants - Designated as investment measured at FVTPL	0	0
Investment in convertible loan-AFS	271	268
Investment in convertible loan-Designated as investment measured at FVTPL	$ 5,722	$ 5,576
Level 3 | Discount rate | Average
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investment in convertible loan using measurement alternative, measurement input	20	20
Level 3 | Discount rate | Median
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Investment in convertible loan using measurement alternative, measurement input	20	20

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Unpaid balance convertible debt	$ 5,700	$ 5,600
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Non-financial assets, measured at fair value	0
Non-financial liabilities, measured at fair value	0
Non-recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Non-financial assets, measured at fair value	0
Non-financial liabilities, measured at fair value	$ 0

Related Party Transactions (Det

Related Party Transactions (Details)	Mar. 24, 2021USD ($)$ / sharesshares	Mar. 31, 2022USD ($)	Mar. 31, 2022CNY (¥)	Mar. 31, 2021USD ($)	Mar. 31, 2021CNY (¥)	Jul. 01, 2019
Related Party Transaction
Lease income		$ 37,000		$ 36,000
Shares issued | shares	15,853,658
Offering price per share | $ / shares	$ 2.05
Gross proceeds from the offering	$ 32,500,000
Juventas Cell Therapy Ltd.
Related Party Transaction
Term of lease contract						1 year
Lease income		$ 37,000	¥ 240,000	$ 36,000	¥ 240,000
Chairman and Chief Executive Officer | Emerging Technology Partners LLC
Related Party Transaction
Shares issued | shares	3,000,000
Offering price per share | $ / shares	$ 2.05
Net proceeds from issuance of common stock	$ 6,150,000

Commitments and Contignencies (

Commitments and Contignencies (Details) ¥ in Millions	1 Months Ended					3 Months Ended
	Aug. 31, 2021USD ($)	Aug. 31, 2021EUR (€)	Jun. 30, 2021USD ($)	Nov. 30, 2019USD ($)	Nov. 30, 2019CNY (¥)	Mar. 31, 2022USD ($)Milestone	Mar. 31, 2021USD ($)	Mar. 31, 2022CNY (¥)	Aug. 31, 2021EUR (€)	Dec. 31, 2020USD ($)	Dec. 31, 2020CNY (¥)
Payment for property improvements | $						$ 2,288,000	$ 981,000
CASI Wuxi
Contractual obligation										$ 12,000,000	¥ 76.1
Fixed assets investment, commitment amount						1,000,000		¥ 6.2
Land use right and property, plant and equipment, commitment amount				$ 143,000,000	¥ 1,000
Estimated construction period				3 years	3 years
Construction project contract amount						9,100,000		57.9
CASI Wuxi | Building
Contractual obligation						$ 14,500,000		¥ 92.1
Cleave Therapeutics, Inc
Number of milestones achieved						0
BioInvent International AB
Number of milestones achieved						0
Black Belt Therapeutics Ltd
Number of milestones achieved						0
Milestone payment	$ 305,000	€ 250,000	$ 750,000
Accrued milestone payment	$ 305,000								€ 250,000
Pharmathen Global BV
Number of milestone payments yet to be paid						1