As of the latest check today, shares of I-Mab (NASDAQ: IMAB) surged 42.84%, trading at $2.87. The sharp rise followed the company’s announcement of a significant equity offering.
Funding Pipeline Development and Strategic Initiatives
I-Mab announced that 33,333,334 American Depositary Shares (ADSs), or 76,666,668 ordinary shares, will be offered in the US at an underwritten public offering price of $1.95 apiece. Gross profits from the transaction are expected to reach around $65 million.
All ADSs will be offered by the company, with the transaction expected to close on August 5, 2025, pending customary conditions. The company intends to allocate the net proceeds, along with its existing cash reserves, toward advancing its clinical programs.
A key focus will be a randomized Phase 2 trial of givastomig, a bispecific Claudin 18.2 x 4-1BB antibody, aimed at delivering clinically meaningful progression-free survival (PFS) data by late 2027. Additional funds will support working capital needs and general corporate purposes.
Acquisition to Strengthen Givastomig Portfolio
I-Mab signed a final contract earlier this month to purchase Bridge Health Biotech Co., Ltd. in its entirety. Through this purchase, I-Mab gains the only right to use the Claudin 18.2 parental antibody, which is employed in givastomig, for bispecific and multispecific applications, such as antibodies and antibody-drug conjugates (ADCs).
By protecting upstream intellectual property rights, reducing future milestone commitments, and removing future royalty restrictions, the action is anticipated to improve the therapeutic and economic potential of givastomig.
Clinical Progress Boosting Investor Confidence
Givastomig’s promise as a best-in-class CLDN18.2-directed treatment for gastric and other malignancies was bolstered by positive Phase 1b dose-escalation data that were reported at ESMO GI 2025. The business is now in a position to provide a topline data readout by Q1 2026 thanks to accelerated enrollment in Phase 1b dose-expansion cohorts.
Givastomig’s CLDN18.2 parental antibody has a stronger affinity for human CLDN18.2 than rival antibodies and binds firmly to cell lines at varied expression levels. These characteristics should help the antibody stand out as a viable bispecific contender.
