I-MAB American Depositary Shares - IMAB STOCK NEWS

I-Mab (Nasdaq: IMAB) announced significant advancements as of June 30, 2021, achieving 13 clinical milestones. Key highlights include 5 positive data readouts for drugs like felzartamab and lemzoparlimab, on track for BLA submissions and commercial collaborations. The company reported a net loss of RMB 1,076.5 million, up from RMB 582.9 million in the prior year. Despite this, I-Mab boasts a strong cash position of RMB 4.8 billion, supporting its transition to a global biopharma. Upcoming milestones include 19 ongoing clinical trials and a potential dual listing on China's STAR Market.

I-Mab (Nasdaq: IMAB) has received the highest first-time ESG rating of BBB from MSCI among China-based biotech firms. The company has established a majority-independent ESG committee to oversee its ESG strategies and policies. Notably, women make up two-thirds of its workforce and over 30% of its Board of Directors. Committed to diversity and social responsibility, I-Mab launched a Women's Leadership Council in 2020. The company was also recognized as a T+ Excellent Employer for its efforts in promoting diversity and innovation.

I-Mab (Nasdaq: IMAB) announced its intention to present business updates and report financial results for the six months ending June 30, 2021, on August 31, 2021. The reports will be shared during conference calls held in Mandarin at 7:00 a.m. ET and in English at 8:00 a.m. ET. I-Mab specializes in the development of novel biologics aimed at immuno-oncology and autoimmune diseases, with over 10 drug candidates in its pipeline. The company aims to evolve from a clinical-stage to a fully integrated global biopharmaceutical entity.

I-Mab (Nasdaq: IMAB) announced positive interim data from its U.S. phase 2/3 trial of plonmarlimab (TJM2) for treating cytokine release syndrome (CRS) in severe COVID-19 patients. The study showed a higher mechanical ventilation-free rate (83.6% vs 76.7%), lower mortality (4.9% vs 13.3%), and improved recovery rates (80.3% vs 70.0%) by day 30. Plonmarlimab demonstrated significant reductions in pro-inflammatory cytokines, indicating its efficacy against CRS. The treatment was well tolerated, with no major safety concerns reported. I-Mab aims to advance the study further, exploring additional clinical opportunities.

I-Mab (Nasdaq: IMAB) announced FDA clearance of its Investigational New Drug (IND) application for Protollin, a promising immunotherapy for Alzheimer's disease. The Phase 1 trial will assess Protollin’s ability to clear beta amyloid plaques, a hallmark of the disease. Around 50 million individuals suffer from Alzheimer's, with no current cure. Protollin is designed to stimulate the innate immune system to combat these plaques. Collaboration with Brigham and Women's Hospital and Inspirevax ensures global licensing for development and manufacturing.

I-Mab (Nasdaq: IMAB) has authorized a new stock repurchase program allowing the company to buy back up to US$40 million of its American depositary shares (ADS) over the next 12 months. This program follows a previous authorization in July 2020 for US$20 million. The Board expresses confidence in the company's strong fundamentals and innovative pipeline. Share purchases will occur at management's discretion, subject to market conditions and other factors. The program highlights I-Mab's strategic focus as it transitions towards becoming a fully integrated global biopharmaceutical company.

I-Mab (Nasdaq: IMAB) announced the acceptance of an IND application for a phase 2 clinical trial of efineptakin alfa in combination with anti-PD-1 therapy for treating advanced solid tumors, including triple-negative breast cancer (TNBC) and head and neck cancers in China. Earlier trials showed promising results: a 27.8% overall response rate (ORR) in a phase 1b/2 trial for metastatic TNBC in South Korea, and an 83.3% one-year survival rate for GBM patients in a phase 1 trial in the U.S. The therapy aims to enhance T-cell activation while sparing Treg cells, offering potential benefits over existing treatments.

I-Mab (Nasdaq: IMAB) announced a preliminary proposal for a potential dual listing on the Science and Technology Innovation Board (STAR Board) of the Shanghai Stock Exchange, approved by the Board on July 27, 2021. The dual listing aims to enhance access to a complementary shareholder base to support future growth. The completion of the listing is expected in 2022, subject to market conditions, Board approval, and necessary regulatory approvals. The company plans to file a Tutoring Agreement with the Shanghai Branch of China Securities Regulatory Commission to enter the IPO tutoring program.

I-Mab (Nasdaq: IMAB) announced new collaborations with Immorna and neoX Biotech to enhance its oncology therapeutics pipeline. These partnerships focus on leveraging Immorna's self-replicating mRNA platform and neoX's AI-driven drug discovery technology for developing innovative anti-cancer antibody therapeutics. This initiative expands I-Mab's existing collaborations and strengthens its R&D capabilities. Both partnerships will involve undisclosed payments as part of the agreements, reflecting I-Mab's commitment to innovation in immuno-oncology.