CASI PHARMACEUTICALS, INC. (NASDAQ:CASI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
On March 13, 2018, upon the recommendation of the Compensation Committee of the Board of Directors (the “Board”), the Board approved a grant of stock options to Dr. Wei-Wu He, Executive Chairman of CASI Pharmaceuticals, Inc. (the “Company”). The grant is conditioned upon stockholder approval at the 2018 Annual Meeting of Stockholders.
Under the terms of the grant, Dr. He will receive a stock option exercisable for 1 million shares of common stock that will vest and become exercisable on the first anniversary date of the grant. In addition, the Board approved the grant of a performance-based option covering 4 million shares of common stock. The performance-based option only will vest if, within 18 months of the date of grant, specific operational and strategic milestones are achieved. The options will have an exercise price of $3.22, the closing market price of the common stock on the date of grant.
About CASI PHARMACEUTICALS, INC. (NASDAQ:CASI)
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. It operates through the development of targeted therapeutics for the treatment of cancer segment. Its product pipeline includes internal development of its lead drug candidate, ENMD-2076; MARQIBO, ZEVALIN and EVOMELA, and early-stage candidates in preclinical development. Its ENMD-2076 is an orally active, Aurora A/angiogenic kinase inhibitor with a kinase selectivity profile and multiple mechanisms of action. Its Marqibo is a sphingomyelin/cholesterol liposome-encapsulated, formulation of vincristine sulfate. Its ZEVALIN (ibritumomab tiuxetan) injection for intravenous use is a CD20-directed radiotherapeutic antibody. Its EVOMELA is an intravenous formulation of melphalan being investigated by Spectrum in the multiple myeloma transplant setting. Its pipeline also includes 2ME2 (2-methoxyestradial).