Welcome to our dedicated page for I-MAB American Depositary Shares news (Ticker: IMAB), a resource for investors and traders seeking the latest updates and insights on I-MAB American Depositary Shares stock.
I-Mab American Depositary Shares (Nasdaq: IMAB) represent a leading clinical-stage biopharmaceutical company dedicated to the discovery, development, and commercialization of novel and highly differentiated biologics to treat diseases with unmet medical needs, focusing on cancers and autoimmune disorders. With operations in Rockville, Maryland, and San Diego, California, I-Mab is actively involved in groundbreaking research and innovative drug development.
The company’s pipeline includes several promising candidates:
- Felzartamab (TJ202): A CD38 antibody in Phase III trials for multiple myeloma and autoimmune diseases.
- Eftansomatropin (TJ101): A long-acting human growth hormone that has completed Phase II trials for pediatric growth hormone deficiency.
- Olamkicept (TJ301): An IL-6 blocker in Phase II trials for ulcerative colitis and autoimmune diseases.
- Enoblituzumab: A humanized B7-H3 antibody that has completed Phase I trials for head and neck cancer and other oncology diseases.
- Efineptakin (TJ107): A long-acting recombinant human IL-7 in Phase II trials for glioblastoma multiforme (GBM).
I-Mab's innovative pipeline is driven by its internal R&D strategies, Fast-to-Proof-of-Concept, and Fast-to-Market development, often in collaboration with global partners. Recently, I-Mab announced the divestiture of its Chinese assets and operations, aiming to focus on the U.S. and other international markets. This strategic move included the transfer of its Greater China rights for various assets, potentially generating up to US$80 million based on future milestone achievements.
Notably, the company has entered into a clinical trial collaboration with Bristol Myers Squibb to evaluate givastomig combined with nivolumab and chemotherapy as a first-line treatment for advanced Claudin 18.2-positive gastric and esophageal cancers. I-Mab’s robust development pipeline and strategic global partnerships exemplify its commitment to advancing novel therapies to address critical medical needs.
For the latest updates and detailed information, visit the official website at I-Mab Biopharma.
I-Mab (Nasdaq: IMAB) announced a private placement to raise approximately US$418 million led by Hillhouse Capital Group, involving the sale of 29,133,502 ordinary shares at US$33 per ADS, a 2.9% premium to the 30-day VWAP. The deal includes warrants for an additional US$104.5 million if exercised. Funds will support ongoing clinical programs and commercialization efforts in China. The press release also details a global partnership for the development of lemzoparlimab, an anti-CD47 antibody for cancer treatment.
AbbVie and I-Mab have entered a global collaboration for the development and commercialization of lemzoparlimab, an innovative anti-CD47 monoclonal antibody aimed at treating various cancers. AbbVie will pay I-Mab USD 200 million upfront, with potential milestone payments of up to USD 1.74 billion. Results from a recent phase 1 clinical trial indicate that lemzoparlimab is well-tolerated, showing promising safety profiles without dose-limiting toxicities. The partnership aims to accelerate clinical trials and commercialization efforts worldwide.
I-Mab (Nasdaq: IMAB) reported significant developments in its pipeline, particularly highlighting positive preliminary results for lemzoparlimab (TJC4) in cancer trials, demonstrating strong safety and pharmacokinetics. The company is also advancing plonmarlimab (TJM2) in a COVID-19 study and expects critical updates, including IND approval for eftansomatropin (TJ101) and data readouts from various ongoing trials in H2 2020. Financially, I-Mab's cash reserves have increased to RMB1.6 billion, though it reported a net loss of RMB582.9 million for the first half of 2020, a decrease from the previous year.
I-Mab (Nasdaq: IMAB) announced the dosing of the first patient in a Phase 1b clinical trial for plonmarlimab (TJM2), targeting rheumatoid arthritis (RA) in China. This multi-center, double-blind, placebo-controlled study will involve 63 patients over eight weeks, assessing safety and efficacy. Plonmarlimab, a humanized IgG1 antibody, neutralizes GM-CSF to potentially reduce inflammation in RA. The company aims to establish proof of concept for RA and plans to explore broader autoimmune applications, marking a significant step in its pipeline development.
I-Mab (Nasdaq: IMAB) announced it will report financial results for the six months ended June 30, 2020, before the market opens on August 31, 2020. A conference call is scheduled for 8:00 a.m. ET on the same day to discuss these results and provide a corporate update. I-Mab, a clinical-stage biopharmaceutical company, focuses on developing novel biologics for immuno-oncology and autoimmune diseases, aiming to bring transformational medicines to patients through innovation. The company's innovative pipeline includes over 10 drug candidates at various stages.
I-Mab (Nasdaq: IMAB) announced the acceptance of its pivotal trial application for eftansomatropin (TJ101) by the China National Medical Products Administration. This innovative long-acting recombinant human growth hormone aims to treat pediatric growth hormone deficiency (PGHD). The Phase 3 trial will enroll approximately 165 subjects, comparing eftansomatropin with the daily treatment Norditropin. Preliminary trials indicate that eftansomatropin is well-tolerated and effective, addressing a significant unmet medical need in China, where PGHD affects around 3.4 million patients.
I-Mab (Nasdaq: IMAB) announced the appointment of Ivan Yifei Zhu as Chief Commercial Officer, effective August 10, 2020. Zhu aims to enhance I-Mab's commercialization strategies and infrastructure, preparing for impending product launches. With over 20 years of experience in global and domestic pharmaceutical firms, he has successfully led product launches, including China's first domestic biosimilar of bevacizumab. This appointment marks a significant step for I-Mab, as the company transitions towards becoming a fully integrated global biopharmaceutical entity.
I-Mab (Nasdaq: IMAB) has authorized a stock repurchase program of up to US$20 million for its ordinary shares. This initiative reflects the company's confidence in its pipeline and commitment to enhancing long-term shareholder value. The buyback will be subject to market conditions and executed in accordance with regulatory guidelines. Repurchases can be made over the next 12 months, depending on various factors, including market pricing and capital availability.
FAQ
What is the current stock price of I-MAB American Depositary Shares (IMAB)?
What is the market cap of I-MAB American Depositary Shares (IMAB)?
What is I-Mab's core focus?
What are some key products in I-Mab's pipeline?
Where are I-Mab's main operations located?
What recent strategic move has I-Mab made?
What is felzartamab?
Who is I-Mab collaborating with on givastomig?
How does I-Mab fund its operations and research?
What is the significance of the FDA's Breakthrough Therapy designation for felzartamab?
What is I-Mab's approach to drug development?
How can investors stay updated on I-Mab's progress?
