CASI Pharmaceuticals (NASDAQ: CASI) stock fell 37% so far this year, but I think this is an undervalued stock. There are still some reasons for investors who focused on the pharmaceutical field to continue to track the stock.
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For the company's financial results in 2020, the company had a revenue of $15.0 million for the year, but its revenue of 2019 was $4.1 million, an increase of 266% year-over-year. The company's net loss widened slightly for 2020, which compared to 2019, but that was due to the company's increasing acquisitions of additional targeted drugs and activities in R&D.
CASI launched medicines in greater China market, and the company is continuing to develop and commercialize these drugs, which are expected to bring huge profits to the company in the future. At the same time, there are two other drugs of the company in early clinical trials. Although the performance of company's stock in the past year indicated that's a long story, now, it's time to watch this stock.
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