I-Mab
NASDAQ:IMAB
I-Mab
I-Mab operates as a clinical stage biopharmaceutical company. The company is headquartered in Shanghai, Shanghai. The company went IPO on 2020-01-17.
I-Mab operates as a clinical stage biopharmaceutical company. The company is headquartered in Shanghai, Shanghai. The company went IPO on 2020-01-17.
Revenue Drop: I-Mab reported revenue of $2.7 million in H1 2023, down from $7.7 million in H1 2022, mainly from collaborations with AbbVie and HI-Bio.
Strong Balance Sheet: The company ended June 30, 2023, with $414.6 million in cash, which management says is sufficient to fund strategic plans.
Strategic Refocus: I-Mab is prioritizing two oncology assets, uliledlimab and givastomig, for global development, and is shifting to become a US-based biotech company.
Positive Clinical Milestone: Eftansomatropin alfa, a long-acting human growth hormone, met its Phase 3 primary endpoint and showed non-inferiority to Norditropin, supporting plans for a 2024 BLA filing in China.
Cost Control: Both R&D and administrative expenses fell significantly year-over-year, reflecting ongoing streamlining.
Stock Buyback: The board authorized up to $40 million in share repurchases.
Upcoming Data Catalysts: Key readouts and regulatory submissions expected in 2024, including for lead assets in oncology and rare diseases.
