Stock of the Day - September 26, 2024

I-Mab (IMAB)

$4.76

+$0.12 (+2.5%)

Market Cap: $388.29M

About I-Mab

I-Mab, a clinical stage biopharmaceutical company, discovers, develops, and commercializes biologics in the fields of immuno-oncology and immuno-inflammation diseases primarily in the United States. It is developing Uliledlimab, a CD73 neutralizing antibody, which is in Phase 2 clinical trial for the treatment of solid tumors; Givastomig, a bi-specific antibody that is in Phase 1 clinical trial for the treatment of gastric and other cancers; and Ragistomig, a programmed cell death ligand-based tumor-dependent T cell engager, which is in Phase 1 clinical trial for the treatment of for solid tumors.

The company is also evaluating opportunities to develop Lemzoparlimab, a fully human CD47 monoclonal antibody for cancer immunotherapy. It has strategic licensing agreement with Ferring International Center SA to research, develop, make, have made, import, use, sell and offer to sell FE301, an interleukin-6 inhibitor. The company has clinical collaboration with Bristol Myers Squibb to evaluate Claudin 18.2 x 4-1BB bispecific antibody givastomig in combination with nivolumab and chemotherapy for the treatment of gastric and esophageal cancer. I-Mab was founded in 2014 and is headquartered in Rockville, Maryland.

Today's Trend

I-Mab Sponsored ADR (NASDAQ:IMAB) shares have come under pressure despite strategic shifts and fresh analyst support. The company is refocusing its pipeline around givastomig for gastric cancer, backed by leadership changes and significant buy-side endorsements. Volume has surged as investors weigh upcoming data catalysts against recent stock weakness.

Pivot to focus on givastomig for gastric cancer with superior early efficacy, an extended cash runway and a key Phase 1b/2 readout expected in Q1 2026 that could unlock significant upside. I-Mab: Sudden Pivot To Gastric Cancer Med Still Underappreciated By Market
Announced leadership changes and accelerated investment in the givastomig program to drive development momentum. I-Mab Announces Acceleration of Givastomig Investment and Leadership Appointments
Needham & Company LLC reaffirmed its “buy” rating and set a $6.00 target on IMAB shares, signaling confidence in the company’s clinical pivot. Needham & Company LLC Reaffirms Buy Rating for I-Mab (NASDAQ:IMAB)
BTIG Research initiated coverage with a “buy” recommendation and a $7.00 price target—implying roughly 67.5% upside from current levels. BTIG Initiates Coverage of I-Mab - Depositary Receipt (IMAB) with Buy Recommendation
Short interest remains flat as of September 10, offering little directional clue from the bearish camp.

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