Current Report by Foreign Issuer (Form 6-K)

INCORPORATION BY REFERENCE

The information included in this Report on Form 6-K is hereby incorporated by reference into the Company's Registration Statements on Form F-3 (File No. 333-283998 and No. 333-281621) (including any prospectuses forming a part of such registration statement) and is to be a part thereof from the date on which this Report on Form 6-K is filed, to the extent not superseded by documents or reports subsequently filed or furnished.

CASI Pharmaceuticals Announces Settlement of Arbitration

CASI Pharmaceuticals, Inc. (OCTQB: CASIF, the "Company"), a clinical-stage biopharmaceutical company developing CID-103, an anti-CD38 monoclonal antibody, for patients with organ transplant rejection and autoimmune diseases, today reported that the Company entered into a Settlement Agreement (the "Settlement Agreement") with Acrotech Biopharma Inc. ("Acrotech") with respect to the settlement of the arbitration proceeding previously reported by the Company in a current report on From 6-K on April 9, 2025. The arbitration proceeding was initiated in relation to Acrotech's purported termination of certain license agreement (the "License Agreement"), dated September 17, 2014, between Spectrum Pharmaceuticals, Inc. and the Company granting the exclusive rights to the Company to commercialize Evomela^® in China, which was later assigned to Acrotech on March 1, 2019.

Pursuant to the Settlement Agreement, prior purported termination of the License Agreement and related agreements shall be rescinded and the agreements shall be in full force and effect, subject to certain revisions, including but not limited to the Company's obligation to purchase a certain minimum number of units of Evomela^® for certain years. Pursuant to the Settlement Agreement, the parties shall now seek dismissal with prejudice of the arbitration.

Forward-Looking Statements

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as the Company's strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided herein is as of the date of this announcement, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. We caution readers not to place undue reliance on any forward-looking statements contained herein.