By: OCTASTAFF
Sparkle Byte Ltd New Position in CASI Pharmaceuticals Inc (NASDAQ:CASI)
Sparkle Byte Ltd has filled a SC 13D form regarding Casi Pharmaceuticals, Inc 1.13 +0.30 36.33%
CASI Pharmaceuticals Inc (NASDAQ:CASI) is a newly disclosed equity position and the filing was required due to activity on January 14, 2016. This most probably shows Sparkle Byte Ltd’s confidence and optimism in the future of the company.
Why Sparkle Byte Ltd Bought Casi Pharmaceuticals, Inc
Item 4. Purpose of Transaction
The Reporting Persons acquired the securities reported herein for investment purposes. The Reporting Persons may, from time to time, make additional purchases of Common Stockeither in the open market or in privately-negotiated transactions, depending upon the Reporting Persons’ evaluation of theIssuer’s business, prospects and financial condition, the market for the Common Stock, other opportunities available to theReporting Persons, general economic conditions, stock market conditions and other factors. Depending upon the factors noted above,the Reporting Persons may also decide to hold or dispose of all or part of their investments in the Common Stock or the Warrantand/or enter into derivative transactions with institutional counterparties with respect to the Issuer’s securities, includingthe Common Stock and debt securities convertible into the Common Stock.
Except as set forth in Item 3 and thisItem 4, the Reporting Persons have no present plans or proposals that relate to or that would result in any of the actions specifiedin clauses (a) through (j) of Item 4 of Schedule 13D of the Securities Exchange Act of 1934, as amended.
A copy of the Securities Purchase Agreementis filed as Exhibit 99.2 hereto, and is incorporated herein by reference.
Company Profile
CASI Pharmaceuticals, Inc. is a biopharmaceutical company. The Company is focused on the acquisition, development and commercialization of therapeutics for cancer and other medical needs. Its product pipeline includes ENMD-2076, ZEVALIN, MARQIBO, CE Melphalan and 2ME2 (2-methoxyestradial). Its lead internal drug candidate is ENMD-2076 is a selective Aurora A and angiogenic kinase inhibitor for the treatment of cancer. ZEVALIN is indicated for patients with relapsed or refractory, low-grade or follicular B-cell non-Hodgkin’s lymphoma. MARQIBO is indicated for the treatment of Philadelphia chromosome-negative acute lymphoblastic leukemia. Captisol Enabled melphalan is being investigated and is intended to be used as a conditioning treatment prior to autologous stem cell transplant for patients with multiple myeloma. 2ME2 (2-methoxyestradiol) is an orally active compound that has anti-proliferative, anti-angiogenic and anti-inflammatory properties under reformulation development.
Form 13D is SEC filing that must be submitted within 10 days, by anyone who acquires beneficial ownership of more than 5% of any publicly traded securities. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing. These filings may be a precursor to hostile takeovers, company breakups, and other “change of control” events.
Sparkle Byte Ltd Just Reported Giant Casi Pharmaceuticals Inc Stake - Octafinance
Sparkle Byte Ltd has filled a SC 13D form regarding Casi Pharmaceuticals, Inc . Filing Link: 000095010316010428. Per Sparkle Byte Ltd's filing, the filler now owns 13.6% of the company, holding 5,693,892 shares. CASI Pharmaceuticals Inc (NASDAQ:CASI) is a newly disclosed equity position and the filing was required due to activity on January 14, 2016.
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