CASI Pharmaceuticals, Inc. (Nasdaq: CASI), a U.S. biopharmaceutical company focused on developing and commercializing innovative therapeutics and pharmaceutical products, today announced that it has commenced an underwritten public offering, subject to market and other conditions, to issue and sell shares of its common stock. In connection with the offering, CASI expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering. There can be no assurances as to whether or when the offering may be completed, or as to the actual size or terms of the offering. All of the shares of common stock in the offering will be sold by CASI.

Oppenheimer & Co. Inc., Mizuho Securities USA LLC, and BTIG LLC are acting as joint book-running managers for the offering.

CASI intends to use the net proceeds of the offering for working capital and general corporate purposes, which include, but are not limited to advancing CASI's product portfolio, acquiring the rights to new product candidates and general and administrative expenses.

About CASI Pharmaceuticals

CASI Pharmaceuticals, Inc. 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. CASI is focused on acquiring, developing and commercializing products that augment its hematology oncology therapeutic focus as well as other areas of unmet medical need. CASI is executing its plan to become a biopharmaceutical leader by launching medicines in the greater China market leveraging CASI's China-based regulatory and commercial competencies and its global drug development expertise. The majority of CASI's operations in China are conducted through its wholly-owned subsidiary, CASI Pharmaceuticals (China) Co., Ltd., which is located in Beijing, China. CASI has built a commercial team of more than 80 hematology and oncology specialists based in China. More information on CASI is available at www.casipharmaceuticals.com.