On January I-Mab (the "Company") (Nasdaq: IMAB), a clinical-stage biopharmaceutical company committed to the discovery, development, and commercialization of novel biologics (Press release, I-Mab Biopharma, JAN 28, 2022, View Source [SID1234607480]). The Company has noted the recent unusual fluctuations in the price and trading volume of the American depositary shares (the "ADSs") of the Company and emphasizes that its business and pipeline developments are all well on track and have no adverse changes . The Company has strong confidence in its global competitive pipeline and is accelerating ongoing transformation towards an integrated global biopharma as planned.
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Latest Development of Lemzoparlimab and Uliledlimab:
Lemzoparlimab: multiple clinical studies are ongoing in both the U.S. and China, including lemzoparlimab in combination with azacytidine in myelodysplastic syndrome (MDS) and acute myelocytic leukemia (AML), in combination with rituximab in non-Hodgekin’s lymphoma (NHL), and in combination with pembrolizumab (Keytruda ) or toripalimab (TUOYI ) in advanced solid tumors. Based on data from multiple on-going clinical trials so far, approximately 180 patients, including 120 patients with hemetological maglinancies, have been treated with lemzoparlimab without the need for priming dosing, and showed anti-tumor activity and a favorable safety profile and lack of a unwanted "sink effect". Data readout from MDS, NHL and solid tumor clinical trials is expected in 2022.
Uliledlimab in combination with toripalimab (TUOYI) : The China phase 2 cohort expansion study in patients with advanced or metastatic cancers who are refractory to or intolerant of all available therapies is ongoing. The company expects to submit the preliminary data to ASCO (Free ASCO Whitepaper) 2022.
In 2022, the Company expects to deliver a series of significant clinical milestones. As a result, the pipeline will be advanced to include 3—4 registrational clinical trials (lemzoparlimab, estansomatropin, felzartamab), 11 Phase 2 clinical trials (including 8 new trials) and 3 Phase 1 clinical trials by end of 2022.
Financial Position:
The company has strong cash position with approximately $700 million, as of 31 December, 2021.
Between 2022 to 2023, the company expects to receive over $100 million cash from the existing out-licensing deals. The current cash on hand is sufficient to fund the Company’s operations for three years.
The Company’s fundamentals remain very strong. In 2021, I-Mab has successfully delivered planned important clinical and corporate milestones and will continue building on the strong momentum to deliver critical new milestones, including reporting multiple key clinical data readouts, initiating new registrational trials and accelerating dual listing on The Main Board of The Stock Exchange of Hong Kong Limited, continually creating value for patients and shareholders.