I-Mab Announces Senior Management Team Share Purchase Plan

Rhea-AI Summary

I-Mab (Nasdaq: IMAB) announced that its senior management team plans to purchase between US$3 million and US$20 million in the company's American depositary shares (ADSs) by February 28, 2022. This initiative reflects their confidence in the company's pipeline and business model, with expectations for continued progress in 2022. The management emphasized strong fundamentals following a year of significant clinical milestones. I-Mab aims to evolve from a clinical-stage firm to a fully integrated biopharmaceutical entity, bolstered by a diverse portfolio of over 20 drug candidates.

Positive

• Management's planned share purchase indicates strong confidence in the company's future.
• Successful delivery of critical clinical and corporate milestones in 2021.
• Progress toward becoming a fully integrated global biopharmaceutical company.

Negative

• None.

SHANGHAI and GAITHERSBURG, MD., Jan. 6, 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 informed the Company of their intention to use their personal funds to purchase the Company's American depositary shares ("ADSs") on the open market for an aggregate amount of minimum US$3 million and up to US$20 million no later than February 28, 2022.

"The share purchase plan demonstrates senior management team's strong confidence in the Company's global competitive pipeline and ongoing transformation towards an integrated global biopharma," said Dr. Jingwu Zang. "The Company's fundamentals remain very strong. In 2021, we successfully delivered planned important clinical and corporate milestones and will continue building on the strong momentum to deliver critical new milestones, including reporting multiple key clinical data readouts, initiating new registrational trials and accelerating dual listing on HKEX, continually creating value for patients and shareholders." 

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.

I-Mab Contacts

John Long Chief Financial Officer john.long@i-mabbiopharma.com +86 21 6057 8000

Gigi Feng Chief Communications Officer gigi.feng@i-mabbiopharma.com +86 21 6057 5709

Investor Inquiries:

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

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SOURCE I-Mab

FAQ

What is I-Mab's share purchase plan in January 2022?

I-Mab's senior management plans to purchase between US$3 million and US$20 million in American depositary shares by February 28, 2022.

How does I-Mab's management feel about the company's future?

The management expresses strong confidence in I-Mab's competitive pipeline and ongoing transformation.

What were I-Mab's achievements in 2021?

I-Mab successfully delivered significant clinical and corporate milestones in 2021.

How many drug candidates does I-Mab have in its pipeline?

I-Mab has over 20 clinical and preclinical-stage drug candidates.

What is I-Mab's goal as a biopharmaceutical company?

I-Mab aims to become a fully integrated global biopharmaceutical company.