From GlobeNewswire: 2025-04-03 16:01:00

I-Mab continues to see positive momentum in the givastomig Phase 1b combination trial for first-line gastric cancer, with topline dose escalation data expected in 2H 2025. Enrollment in the trial is ahead of schedule, with a strong financial position of $173.4 million in cash and cash equivalents as of December 31, 2024, supporting ongoing development until 2027.

Key financial and corporate development highlights for I-Mab in 2024 include the appointment of Sean Fu as CEO, divestiture of Greater China assets, and prioritization of the givastomig program. The company is focused on advancing givastomig, a novel Claudin-18.2 targeted therapy, into Phase 1b trials for first-line metastatic gastric cancers.

Givastomig, a bispecific antibody targeting CLDN18.2-positive tumor cells, has shown promising anti-tumor activity in Phase 1 trials. Enrollment in the Phase 1b study is progressing well, with data expected in the second half of 2025. The therapy is being jointly developed with ABL Bio for potential use in gastric cancer and other solid tumors.

I-Mab reported a cash position of $173.4 million as of December 31, 2024, with ongoing research and development expenses primarily related to givastomig. The company also saw increases in administrative expenses due to legal fees associated with certain disputes. Interest income decreased, while other expenses and losses from affiliates also decreased compared to the previous year.

In 2024, I-Mab experienced a net loss of $22.2 million, a significant improvement from the previous year. The company recognized gains from the divestiture of its China operations, leading to a positive outlook for future financial performance. With a focus on advancing givastomig and other drug candidates, I-Mab remains well-positioned for continued growth and success in the oncology space.



Read more at GlobeNewswire:: I-Mab Reports Full Year 2024 Financial Results and Provides