Over the course of the past few weeks, the CASI Pharmaceuticals (NASDAQ:CASI) stock has had a pretty rough time and suffered from a selloff. In the past month, the stock has declined by as much as 13% and it is going to be interesting to see if the stock can actually make a recovery any time soon.
Yesterday, the stock was in the news cycle after it announced its financial results for the second fiscal quarter. CASI managed to limit its loss for the quarter to $.05 a share and that managed to outdo the analysts’ estimates of losses of $.09 a share for the quarter.
In addition to that, it is also necessary to remember that the in the prior year period, the company had suffered a loss of $.07 a share and the latest performance proved to be an improvement on that. It continued a run of four consecutive quarters in which CASI managed to trump the analysts’ estimates with regards to its earnings per share.
On the other hand, the revenues came in at $7.16 million, which not only beat analysts’ estimates by 16.46% but also managed to record a big improvement on the year ago revenue figure of $2.67 million.