I-Mab Announces Pricing of Underwritten Offering

Strategic Insights -

I-Mab, a global biotech company, has priced an underwritten offering of 33,333,334 American Depositary Shares (ADSs) representing 76,666,668 ordinary shares at an offering price of $1.95 per ADS, raising approximately $65 million in gross proceeds. The offering is expected to close on August 5, 2025, subject to customary closing conditions, and includes participation from new and existing investors. The Company intends to use the net proceeds from the offering to fund ongoing clinical development of its pipeline product candidates, including a randomized Phase 2 trial of givastomig, a bispecific Claudin 18.2 x 4-1BB antibody.

Key Takeaways:

  • I-Mab has priced an underwritten offering of 33,333,334 ADSs at an offering price of $1.95 per ADS, raising approximately $65 million in gross proceeds.
  • The offering includes participation from new and existing investors, including Everest Medicines, Janus Henderson Investors, Adage Capital Partners LP, and Exome Asset Management.
  • The Company plans to use the net proceeds from the offering to fund ongoing clinical development of its pipeline product candidates, including a Phase 2 trial of givastomig.
  • Givastomig is a bispecific Claudin 18.2 x 4-1BB antibody being developed for the treatment of first-line metastatic gastric cancers.
  • I-Mab's pipeline is led by givastomig, a potential best-in-class, bispecific antibody designed to treat Claudin 18.2-positive gastric cancers.
  • In ongoing Phase 1 trials, givastomig has demonstrated strong tumor-binding and anti-tumor activity, minimizing toxicities commonly seen with other 4-1BB agents.

Statistics:

  • 33,333,334 ADSs offered at $1.95 per ADS, grossing approximately $65 million in proceeds.
  • 76,666,668 ordinary shares represented by the ADSs.
  • 5,698,876,760 shares outstanding, assuming conversion of the ADSs.

Sources:

  • GlobeNewswire, "I-Mab Announces Pricing of Underwritten Offering" (August 1, 2025)
  • I-Mab Investor & Media Contact, PJ Kelleher (LifeSci Advisors, +1-617-430-7579, pkelleher@lifesciadvisors.com)