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Tag: NASDAQ: IMAB

  • I-Mab (NASDAQ: IMAB) Gets China CDE Approval To Start Phase 3 Clinical Trial Of Eftansomatropin

    I-Mab (NASDAQ: IMAB) Gets China CDE Approval To Start Phase 3 Clinical Trial Of Eftansomatropin

    I-Mab (NASDAQ: IMAB), a biotechnology company announced Wednesday that it has got the green signal from China Center for Drug Evaluation (CDE) to commence the Phase 3 clinical trial Eftansomatropin. Eftansomatropin is a  long-acting recombinant human growth hormone (rhGH) used to treat the deficiency of growth hormone in pediatric patients.

    In Phase 1 and 2 clinical studies, Eftansomatropin has shown encouraging results as compared to the daily injected rhGH (Genotropin). This is not only the greatest achievement of I-Mab but also for pediatric patients. The company aimed to bring new innovative therapy that is safe for the patients and convenient for pediatric patients once proven.

    Eftansomatropin is proven to be very useful and has some long-term safety advantages over conventional pegylated rhGH drugs. Frost & Sullivan, a market research company revealed that only 3.7% of 3.4 million pediatric patients in Greater China with growth hormone deficiency get growth hormone therapies, which primarily consist of daily injections of rhGH.

    Shares of I-Mab traded up 22.54% as it gained +8.65 at $47.03 on Wednesday. In the past 52-weeks of trading, this company’s stock has fluctuated between the low of $9.30 and a high of $42.30. IMAB has moved up 405.70% and 11.18% from its 52-weeks low and 52-weeks high, respectively. Looking at its liquidity, it has a current ratio of $1.50. I-Mab market capitalization has remained high, hitting $41.07 million at the time of writing.

    The company has earlier disclosed that the Center for Drug Evaluation (CDE) of the China National Medical Products Administration (NMPA) gave the green signal for the Investigational New Drug (IND) application for lemzoparlimab.

    lemzoparlimab is also known as TJC4 to start a phase 1 clinical trial in patients. Phase 1 clinical trial in the US has shown positive results. It is the highly differentiated anti-CD47 monoclonal antibody originally discovered and developed by I-Mab.

  • Stocks to Watch even as Sentiment Points to Short-Term Market Correction

    Stocks to Watch even as Sentiment Points to Short-Term Market Correction

    The markets are mixed today, after yesterday’s huge slump. It was the largest slump in over two months and saw billions of dollars wiped off the market.

    Apple, which has been a top performer in recent months shed off over $150 billion in value. The massive drop in value is a combination of multiple factors. One of them is yesterday’s data that showed that the private sector was not adding jobs as quickly as most investors were expecting.

    This has reinforced a long-held believe that the stock markets at the moment do not reflect the true state of the U.S economy. This has created panic and could possibly see further correction until the government takes proactive measures to breathe new life into the economy.

    There is also the fact that analysts have started calling for caution. For instance, analysts at Citi have told their investors to focus more on the value of growth.

    This further affirms the fear that markets are overvalued at current prices. However, this does not mean that stock fundamentals are bad, only that at current prices, they are not justified. For instance, in just under 3 months, stocks like Apple and Tesla have gained by 30 to 50%.

    While they are fundamentally strong companies, there hasn’t been a major change in fundamentals that can justify this rally. Despite the fear and cautious optimism that have gripped the market, there are several stocks that are gaining upside momentum this morning. Some of the stocks that are gaining pre-market are as below:

    PolyMet Mining Corp [NYSE: PLM]

    PolyMet Mining Corp is a top performer this morning and is up by over 18%. This follows news that the court had found that the company’s water permit to have been issued in accordance with set procedures. In his ruling, the judge rejected allegations that the company took part in systemic efforts to hid administrative records.

    DPW Holdings Inc [NYSE: DPW]

    This is another top performer this morning and is up by over 40%. This follows the company’s announcement that its Coolisys Power business unit will be partnering with other companies to test its new electric vehicle. The tests will include charging solutions that have a range of 150 miles and can be fully charged in just 30 minutes. This is a big deal as the electric vehicle charging market is expected to hit a value of $27.7 billion by the year 2027.

    I-Mab [NASDAQ: IMAB]

    I-Mab is in the green this morning and is up by close to 10% pre-market. This follows the company’s announcement that it has entered into a strategic partnership with AbbVie for immune-oncology therapy. Under the deal, I-MAB will receive an upfront pay of $180 million.