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ROCKVILLE, Md. - I-Mab (NASDAQ:IMAB), a U.S.-based biotech company focused on immuno-oncology treatments, announced Wednesday that it has regained compliance with Nasdaq’s minimum bid price requirement. According to InvestingPro data, the company’s stock has shown remarkable momentum, delivering a 149% return over the past six months and currently trading at $2.49.
The company received notification from Nasdaq on Tuesday that it had successfully met the $1.00 minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). To satisfy the requirement, I-Mab’s American Depositary Shares (ADSs) maintained a closing bid price of at least $1.00 for 10 consecutive business days, which was achieved on June 10, 2025.
Nasdaq has confirmed the matter is now closed, allowing I-Mab’s shares to continue trading on the exchange without further compliance concerns related to the minimum bid price rule.
I-Mab specializes in developing precision immuno-oncology agents for cancer treatment. The company’s pipeline includes givastomig, a bispecific antibody targeting Claudin 18.2 and 4-1BB, which is being developed primarily for gastric cancer treatment.
The compliance announcement comes as the company continues its clinical development programs. According to the press release statement, I-Mab is pursuing applications for givastomig in first-line metastatic gastric cancers, with potential expansion to other solid tumors.
Companies listed on Nasdaq must maintain compliance with various listing requirements, including the minimum bid price rule, to remain on the exchange. Failure to meet these standards can result in delisting procedures.
In other recent news, I-Mab has received a Buy rating from Lucid Capital Markets, with a price target set at $5.00. This positive outlook is largely driven by the potential of I-Mab’s bispecific antibody, Givastomig, which is currently in clinical trials for advanced gastric cancer. Lucid Capital Markets anticipates Givastomig could generate peak sales of approximately $2.6 billion by 2040. Meanwhile, H.C. Wainwright adjusted its price target for I-Mab from $8.00 to $7.00 but maintained a Buy rating, citing the company’s strategic focus on U.S. operations and the promising development of Givastomig. Despite these optimistic evaluations, I-Mab faces a challenge as it has been notified of non-compliance with Nasdaq’s minimum bid price requirement. The company has until September 15, 2025, to rectify this situation to avoid potential delisting. I-Mab is exploring options to resolve this issue and remains focused on its cancer treatment developments. The company reported cash and equivalents of approximately $168.6 million in the first quarter of 2025, which is expected to support its operations into 2027.
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