Core Insights - I-Mab has reported transformative progress in the first half of 2025, particularly with the promising Phase 1b combination data for its drug givastomig, which targets Claudin 18.2 for metastatic gastric cancers [2][3] Financial Performance - For the three months ended June 30, 2025, the company reported a net loss of $5.5 million, compared to a net loss of $8.9 million for the same period in 2024 [16] - For the six months ended June 30, 2025, the net loss was $8.7 million, an improvement from a net loss of $18.4 million in the same period in 2024 [16] - Research and development expenses decreased to $3.3 million for the three months ended June 30, 2025, down from $5.2 million in 2024 [10] - Administrative expenses also decreased to $3.8 million for the three months ended June 30, 2025, compared to $11.9 million in 2024 [11] Cash Position - As of June 30, 2025, I-Mab had cash and cash equivalents of $165.6 million, which is expected to fund operations through the fourth quarter of 2028 [7][6] - The company raised approximately $61.2 million from an underwritten offering in August 2025, strengthening its balance sheet [6] Clinical Developments - Givastomig demonstrated an 83% objective response rate in a Phase 1b study when combined with immunochemotherapy, with topline data expected in Q1 2026 [3][6] - The company has completed enrollment for the Phase 1b dose expansion study of givastomig in combination with nivolumab and mFOLFOX6 for first-line metastatic gastric cancers [3] Upcoming Milestones - I-Mab anticipates updates in 2026 for other programs, including ragistomig and uliledlimab, which are under development by ABL Bio and TJ Biopharma, respectively [4] Shareholder Information - As of June 30, 2025, the company had 188,108,178 ordinary shares outstanding, which will increase to 264,774,837 shares post-offering [8][9]