I-Mab Announces Pricing of $65 Million Underwritten Offering of American Depositary Shares

Core Viewpoint - I-Mab has announced a public offering of American Depositary Shares (ADSs) to raise approximately $65 million for clinical development and general corporate purposes [1][3]. Group 1: Offering Details - The offering consists of 33,333,334 ADSs, priced at $1.95 per ADS, representing a total of 76,666,668 ordinary shares [1]. - The offering is expected to close on August 5, 2025, subject to customary closing conditions [1]. - Participation in the offering includes both new and existing investors such as Everest Medicines and Janus Henderson Investors [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be used to fund ongoing clinical development of pipeline product candidates, including a Phase 2 trial of givastomig [3]. - Givastomig is a bispecific antibody targeting Claudin 18.2, aimed at generating clinically meaningful progression-free survival data by the end of 2027 [3]. Group 3: Company Overview - I-Mab is a U.S.-based global biotech company focused on precision immuno-oncology agents for cancer treatment [6]. - The company's lead product, givastomig, is designed to treat Claudin 18.2-positive gastric cancers and is currently in Phase 1 trials [6].