I-Mab Announces Execution of Senior Management Team Share Purchase Plan

Rhea-AI Summary

I-Mab (Nasdaq: IMAB) announced that its senior management team executed a share purchase plan, acquiring over 70,000 American depositary shares (ADSs) for an aggregate of over US$2.6 million at an average price of approximately US$38 per ADS. The team aims to invest a minimum of US$3 million and up to US$20 million cumulatively in open market purchases, reflecting their strong confidence in the Company’s innovative pipeline and long-term growth prospects. I-Mab focuses on developing novel biologics for immuno-oncology and autoimmune diseases.

Positive

• Senior management's purchase of over 70,000 ADSs indicates confidence in the Company's pipeline.
• Planned cumulative investment of US$3 million to US$20 million in ADSs to bolster shareholder confidence.

Negative

• None.

• The execution demonstrates senior management team's tremendous confidence in the Company's innovative globally competitive pipeline and long-term growth prospects

SHANGHAI and GAITHERSBURG, MD., Jan. 14, 2022 /PRNewswire/ -- I-Mab (the "Company") (Nasdaq: IMAB), a clinical-stage biopharmaceutical company committed to the discovery, development, and commercialization of novel biologics, today announced that the senior management team of the Company, including Founder, Chairman and Acting CEO Dr. Jingwu Zang, President Dr. Andrew Zhu, Chief Financial Officer John Long, Chief Strategy Officer Jielun Zhu and Chief Business Officer Dr. Weimin Tang, have executed the share purchase plan with the open market purchase of over 70,000 of the Company's American depositary shares ("ADSs")  in an aggregate amount of over US$2.6 million as of 14 Jan, 2022. The average price per ADS is approximately US$38. The senior management team plans to continue to purchase the Company's ADSs on the open market for an minimum US$3 million and up to US$20 million on an accumulative basis.

About I-Mab

I-Mab (Nasdaq: IMAB) is an innovation-driven global biopharma company focused on the discovery, development and commercialization of novel and highly differentiated biologics for immuno-oncology and autoimmune diseases. The Company's mission is to bring transformational medicines to patients around the world through innovation. I-Mab's globally competitive pipeline of more than 20 clinical and preclinical-stage drug candidates is driven by its internal discovery and global partnerships for in-licensing, based on the Company's Fast-to-Proof-of-Concept and Fast-to-Market development strategies. The Company is progressing from a clinical-stage biotech company into a fully integrated global biopharmaceutical company with cutting-edge R&D capabilities, a world-class GMP manufacturing facility, and commercial capability. I-Mab has established its global footprint in Shanghai (headquarters), Beijing, Hangzhou, Guangzhou, Lishui and Hong Kong in China, and Maryland and San Diego in the United States. For more information, please visit http://ir.i-mabbiopharma.com and follow I-Mab on LinkedIn, Twitter , and WeChat.

I-Mab Forward Looking Statements

This press release includes certain disclosures which contain "forward-looking statements." You can identify forward-looking statements because they contain words such as "anticipate" and "expected." Forward-looking statements are based on I-Mab's current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in filings with the U.S. Securities and Exchange Commission. I-Mab undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

For more information, please contact:

I-Mab

John Long, Chief Financial Officer
E-mail: john.long@i-mabbiopharma.com  
Office line: +86 21 6057 8000

Gigi Feng, Chief Communications Officer
E-mail: gigi.feng@i-mabbiopharma.com
Office line: +86 21 6057 5709

Investor Inquiries:

The Piacente Group, Inc.
Emilie Wu
E-mail: emilie@thepiacentegroup.com
Office line: + 86 21 6039 8363

View original content to download multimedia:https://www.prnewswire.com/news-releases/i-mab-announces-execution-of-senior-management-team-share-purchase-plan-301461175.html

SOURCE I-Mab

FAQ

What is I-Mab's recent share purchase plan?

I-Mab's senior management team executed a share purchase plan acquiring over 70,000 ADSs worth over US$2.6 million.

How much does I-Mab's management plan to invest in ADSs?

The management intends to invest a minimum of US$3 million and potentially up to US$20 million in total.

What is the average price of I-Mab's ADSs purchased by the management?

The average price per ADS purchased by the management is approximately US$38.

When was the share purchase plan executed?

The share purchase plan was executed on January 14, 2022.

What does I-Mab focus on in its business operations?

I-Mab is focused on the discovery, development, and commercialization of novel biologics for immuno-oncology and autoimmune diseases.