IMAB - Chinese biotech I-Mab spikes on report of buyout interest

The ADRs of Shanghai-based I-Mab (NASDAQ:IMAB) jumped ~18% in the pre-market Wednesday after Bloomberg reported that the clinical-stage biotech company was considering options including a potential sale amid takeover interest from other global drugmakers. I-Mab (IMAB) has lost more than 75% over the past 12 months underperforming the broader market, as shown in this graph. The company shares fell February alongside other companies with roots in China after the commerce department added life-sciences company, WuXi Biologics (OTCPK:WXXWY) (OTCPK:WXIBF) to the “unverified” list for exporters. This is a developing story. Check back for more updates.

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Chinese biotech I-Mab spikes on report of buyout interest