STOCKS TELEGRAPH

Tag: Imara Inc

  • Insider Transaction: IMARA Inc. (IMRA) stock Remains Bullish After Hours

    On February 17, IMARA Inc. (IMRA) submitted a filing with the SEC regarding the insider transaction of David M. Mott, Chairman, Board of Directors. The stock continued to gain in the following sessions after the SEC filing. Moreover, the company also presented at the 11th Annual SVB Leerink Global Healthcare Conference on February 17.

    Following the recent developments, the stock gained a huge 16.26% during the regular session on Friday. At the close of the session, IMRA stock had a value of $1.42 per share while the volume remained above average at 842.02K shares. The stock continued its rise in the after-hours as it added a further 11.89%. Hence, IMRA reached a price of $1.60 per share in Friday’s after-market session.

    The clinical-stage biopharmaceutical company, IMARA Inc. (IMRA) develops therapies for hemoglobinopathies. Founded in 2016, the company has a market capitalization of $37.57 million.

    What Happened with IMRA?

    As previously reported, the company presented at the SVB Leerink Global Healthcare Conference on Thursday. The company’s President and CEO, Rahul Ballal also participated in a Fireside Chat at the conference.

    Additionally, on Thursday it was disclosed in an SEC filing, that Mr. Mott purchased certain shares of the company in the open market. The filing reported common stock purchases on February 15, 16, and 17, 2022, thus reaching a total of 77,752 shares. Furthermore, the weighted average price of the transactions was $1.20. It seems Mr. Mott took advantage of the recent price fall of the stock to its 52-week low of $1.10 on February 14.

    Consequently, the stock kept on increasing its value in the following sessions on Friday. Thus, in the past five days alone IMRA has added a value of 24.35%. Additionally, the stock stands at a year-to-date loss of 36.44% while it subtracted 89.37% last year.

    IND Clearance for IMR-687

    On January 25, the company announced the clearance of IMR-687’s IND by the U.S. FDA. Therefore, the company is set to initiate the clinical development of IMR-687 (tovinontrine) in heart failure with preserved ejection fraction (HFpEF). IMRA intends to commence the Phase 2 trial of IMR-687 in Q2 of 2022.

    IMRA’s Financials

    In the third quarter of 2021, the company reported a net loss of $13.6 million or $0.55 per share, against $12.4 million or $0.72 per share in the year-ago period.

    IMRA ended the quarter with cash, cash equivalents, and investments of $102.8 million.

  • Do You Know Why IMRA Stock Jumped Nearly 7% In After-hours Session?

    Do You Know Why IMRA Stock Jumped Nearly 7% In After-hours Session?

    IMARA Inc. (IMRA) shares were up 7.91% in after-hours trading at $6.00 on the last check on Friday. At $5.56, Imara stock closed the last session down -4.14% or $0.24. IMRA shares traded between $5.42 and $5.89 during regular trading. On the day, 0.86 million shares of IMRA stock were traded, exceeding the company’s 50-day daily volume of 0.15 million and exceeding its Year-to-Date volume of 0.15 million.

    The share price of IMRA stock has fallen -74.28% over the past 12 months, while it has declined by -22.78% over the past week. The IMRA stock has decreased by -59.83% over the last six months, and by -19.65% over the last three months. After announcing the pricing of its underwritten public offering, IMRA stock rose.

    What is the stock offer of IMRA?

    Imara is a clinical-stage biotech company developing and commercializing novel therapies for treating patients suffering from hemoglobin disorders caused by inherited genetic changes. IMRA is currently working on developing IMR-687, a small molecule inhibitor of PDE9 capable of modifying sickle cell anemia and beta thalassemia through oral administration, once daily. A multimodal mechanism of action is being designed for IMR-687, which will act on red blood cells, white blood cells, adhesion mediators, and other types of cells.

    It was announced last Tuesday that Imara Inc. had priced its previously announced underwritten public offering of common stock.

    • After underwriting discounts and commissions, the public offering price for IMRA’s stock was $6.00 per share, which resulted in proceeds of $50 million.
    • According to customary closing conditions, the offering was expected to close on July 16, 2021.
    • IMRA itself offered all shares.
    • Furthermore, IMRA has given the underwriters the option to purchase an additional $7.5 million of its common stock at a public offering price of $0.50 a share, less underwriting discounts and commissions, for a period of 30 days.

    In its latest Real Impact community support initiative, Imara recently announced its second-year award recipients.

    IMRA fund 30 nonprofit, community-based organizations (CBOs) serving patients and families affected by sickle cell disease (SCD) and beta-thalassemia out of a total of $150,000 awarded under this program. A $25,000 increase was made from the grant funding in 2020 when the program was implemented.

    How did IMRA grant the award?

    Imara (IMRA) evaluated grant applications based on metrics such as clear identification of a pressing need, plan of execution, impact on target communities, and proposed measures of success. It was important that IMRA’s executive officers were not involved in selecting grant applications as each grant committee was composed of external reviewers.