Photo/Shetuwang

Jan. 7 (NBD) -- Global biopharmaceutical company I-Mab Biopharma is expected to start trading on the Nasdaq Global Market on January 17, 2020, according to the company's updated prospectus. 

The company plans to issue 7,407,400 American depositary shares ("ADSs") in the initial public offering. The offering price is estimated to be between 12 U.S. dollars and 15 U.S. dollars per ADS, which means the company could raise 110 million U.S. dollars at most through the float. 

I-Mab Biopharma is a clinical stage pharmaceutical company based in China and the U.S., and commenced its operations in 2014. The company focuses on the discovery and development of novel or highly differentiated biologics in immuno-oncology and autoimmune diseases. 

To date, the company has developed an innovative pipeline of more than 10 clinical and pre-clinical stage assets. In both 2018 and 2019, I-Mab Biopharma made the list of the world's top 10 immuno-oncology startups published by biotech publication Genetic Engineering & Biotechnology News and it was the only Chinese biotech company on the list.

Notably, the company has incurred net losses since its inception as it has not generated any revenue from product sales. The situation is unlikely to change unless it could obtain marketing approval for or commercialize a drug candidate, the prospectus mentioned.  

Email: lansuying@nbd.com.cn