RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2017

3. RELATED PARTY TRANSACTIONS

In April, June 2017, and November 2017, under supply agreements with Spectrum, the Company received shipments of EVOMELA^®, MARQIBO^®, and ZEVALIN^® respectively, in China for quality testing purposes to support CASI’s application for import drug registration. In 2016, the Company also received shipments of MARQIBO^® in China for quality testing purposes to support CASI’s application for import drug registration. The former CEO of Spectrum and current board member of Spectrum is also a board member of CASI. The total cost of the materials was approximately $2,705,000 and $155,220 in 2017 and 2016, respectively, which is included in research and development expense for the respective years. As of December 31, 2017, the amount payable to Spectrum totaling $2,228,366 is reflected as a related party payable in the accompanying consolidated balance sheet.