NEW YORK, Aug. 18, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of I-Mab ("I-Mab" or the "Company") IMAB.   Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether I-Mab and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On or around January 17, 2020, I-Mab conducted its initial public offering ("IPO"), selling more than 7 million American depositary shares ("ADSs") priced at $14.00 per ADS.  Then, on August 16, 2022, the Company disclosed in a filing with the U.S. Securities and Exchange Commission that its collaboration partner "AbbVie will discontinue the global Phase 1b study of [I-Mab's] lemzoparlimab combination therapy with azacitidine (‘AZA') and venetoclax, in patients with myelodysplastic syndrome (‘MDS') and acute myelocytic leukemia (‘AML')." 

On this news, I-Mab's ADS price fell $1.14 per ADS, or 14.3%, to close at $6.83 per ADS on August 17, 2022, representing a decline of 51.21% from the IPO price.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980