I-MAB American Depositary Shares - IMAB STOCK NEWS

I-Mab, a clinical-stage biopharmaceutical company, announced a poster presentation for its proprietary CD73 antibody, uliledlimab, at the 2023 ASCO Annual Meeting in Chicago from June 2-6. The presented study features data on uliledlimab in combination with PD-1 therapy for treating non-small-cell lung cancer (NSCLC). The poster, titled 'Uliledlimab and Toripalimab Combination Therapy in Treatment Naïve Advanced NSCLC', will showcase clinical trial results that utilize CD73 as a potential predictive biomarker. I-Mab aims to leverage these findings in advancing its drug development and commercialization strategies.

Uliledlimab's unique mechanism targets the tumor microenvironment, potentially enhancing anti-tumor immune responses when used with checkpoint inhibitors. This strategic presentation could strengthen investor confidence in I-Mab’s innovative pipeline.

I-Mab (NASDAQ: IMAB) announced a favorable arbitration outcome with Tracon Pharmaceuticals on April 25, 2023, concluding a multi-year dispute. The tribunal dismissed Tracon's $200 million damages claim and confirmed the termination of both the TJD5 and BsAb agreements. I-Mab must pay a $9 million termination fee plus interests, while also covering approximately $13.5 million in Tracon's legal costs. This result enables I-Mab to expedite the development of its proprietary CD73 antibody, uliledlimab, and its bi-specific antibodies, potentially unlocking significant value by early 2024. Dr. Andrew Zhu emphasized that this victory safeguards shareholder interests and preserves the future of I-Mab's innovative assets.

I-Mab (Nasdaq: IMAB) has announced the dosing of the first patient in a Phase 3 clinical trial for lemzoparlimab, a CD47 antibody, targeting higher-risk myelodysplastic syndrome (MDS) in China. This trial, a pivotal step in the development of novel therapies for MDS, aims to evaluate the safety and efficacy of lemzoparlimab in combination with azacitidine (AZA) compared to AZA alone. MDS predominantly affects older adults, and current treatments often lead to suboptimal outcomes. Lemzoparlimab represents a potential breakthrough, as it may become the first CD47-targeting therapy approved in China. I-Mab's commitment to addressing the unmet medical needs of MDS patients is underscored by this milestone.

HI-Bio announced positive Phase 2 results for felzartamab, a monoclonal antibody targeting CD38+ plasma cells, aimed at treating Primary Membranous Nephropathy (PMN). Two studies, M-PLACE and NewPLACE, demonstrated significant reductions in pathogenic aPLA2R autoantibodies, which are linked to PMN. In M-PLACE, 31 patients showed a median reduction of 45% in aPLA2R levels as early as one week, with substantial sustainable responses observed. The drug also led to proteinuria remissions in patients resistant to current therapies. HI-Bio plans to advance felzartamab into late-stage development, targeting PMN and other autoimmune diseases. This disease affects over 36,000 patients in the U.S. with no approved treatments currently available.

I-Mab (Nasdaq: IMAB) announced its financial results for 2022, reporting a net loss of RMB2.41 billion (US$349.7 million), slightly worsening from RMB2.33 billion in 2021. The company's total net revenue dropped to RMB-221.6 million (US$-32.1 million) due to a significant non-cash accounting treatment. However, I-Mab achieved thirteen key clinical milestones, including positive data readouts for several assets and a strong cash position of RMB3.5 billion (US$514.2 million), sufficient to fund operations for three years. The company plans to submit potential biologics license applications for key assets by late 2023 or early 2024.

I-Mab (Nasdaq: IMAB), a clinical-stage biopharmaceutical company, will announce its financial results for the full year ended December 31, 2022 on March 31, 2023. The report will be released before the market opens, followed by a conference call for investors and analysts at 8:15 a.m. EST. I-Mab focuses on the discovery and development of novel biologics, with over 10 candidates in its pipeline. The company aims to bring innovative medicines to patients globally, leveraging both internal research and partnerships.