I-Mab Stock Price, News & Analysis

I-Mab (NASDAQ: IMAB), now operating under the name NovaBridge Biosciences following shareholder approval of a name change, is a U.S.-based, global biotech company focused on the development of precision immuno-oncology agents for the treatment of cancer. According to its public disclosures, the company has adopted a global biotechnology platform model designed to identify, accelerate, and advance high-value therapeutic assets through business development and translational clinical development.

The company’s differentiated pipeline is led by givastomig (TJ033721 / ABL111), a Claudin 18.2 x 4-1BB bispecific antibody designed to treat Claudin 18.2-positive gastric cancers and other gastrointestinal malignancies. Givastomig targets CLDN18.2-positive tumor cells and conditionally activates T cells via the 4-1BB signaling pathway in the tumor microenvironment where Claudin 18.2 is expressed. In Phase 1 studies, givastomig has shown anti-tumor activity in heavily pre-treated gastric cancer patients and in combination with immunochemotherapy in first-line metastatic gastric cancers, with reported objective response rates at selected dose levels and a favorable overall safety profile, as summarized in company news and investor materials.

I-Mab describes itself as combining deep business development expertise with agile translational clinical development. Under its updated business model, the company intends to operate as a global biotechnology platform that partners with innovators to identify and accelerate high-value assets, and to implement a “hub-and-spoke” structure. In this model, the parent company serves as the hub and creates specialized subsidiary entities (spokes) focused on specific assets or therapeutic areas. These subsidiaries are intended to maintain operational focus and agility while the platform company oversees asset selection, translational strategy, and clinical execution.

Pipeline and Core Programs

The company’s pipeline, as described in recent press releases, includes several clinical-stage programs:

• Givastomig (Claudin 18.2 x 4-1BB bispecific antibody): A lead program in Phase 1b clinical trials for first-line metastatic gastric cancers and other Claudin 18.2-positive gastrointestinal tumors. Givastomig is being jointly developed through a global partnership with ABL Bio, with I-Mab as the lead party and shared worldwide rights excluding Greater China and South Korea.
• Ragistomig (PD-L1 x 4-1BB bispecific antibody): A bispecific antibody that integrates PD-L1 as a tumor engager and 4-1BB as a conditional T cell activator in solid tumors. Company communications reference ongoing Phase 1b development designed to expand the therapeutic index, with further data anticipated in future periods.
• Uliledlimab (anti-CD73 antibody): An antibody that targets CD73, described as the rate-limiting enzyme critical for adenosine-driven immunosuppression in the tumor microenvironment. I-Mab reports that uliledlimab is being evaluated in a randomized Phase 2 trial in combination with other agents, with progression-free survival data expected based on the company’s development plans.

In addition to immuno-oncology, the company’s platform strategy extends into ophthalmology through VIS-101, a bifunctional biologic targeting VEGF-A and ANG2 for wet age-related macular degeneration (wet AMD), diabetic macular edema (DME), and potentially other retinal conditions. VIS-101 is being developed within Visara, Inc., a clinical-stage biopharmaceutical subsidiary focused on ophthalmic therapeutics. Company disclosures state that VIS-101 is in Phase 2 development and anticipated to be Phase 3-ready based on ongoing trials.

Strategic Transformation and Corporate Structure

Through a series of announcements and SEC filings, I-Mab has outlined a strategic transformation into a global biotech platform company under the NovaBridge Biosciences name. This transformation includes:

• Adoption of a business model centered on partnering with leading innovators to identify and accelerate high-value assets across therapeutic categories.
• Creation of specialized subsidiaries, such as Visara, Inc., to focus on specific assets like VIS-101 and maintain targeted operational execution.
• A divestiture of Greater China assets and business operations, which the company determined constituted a strategic shift and were presented as discontinued operations in its financial reporting.
• Plans to pursue a dual primary listing by way of an initial public offering of its ordinary shares on the Main Board of the Hong Kong Stock Exchange, while maintaining its listing of American Depositary Shares on the Nasdaq Global Market, subject to market conditions and regulatory approvals.

The company’s SEC filings confirm that shareholders approved the change of the English name from “I-Mab” to “NovaBridge Biosciences,” and that its American Depositary Shares began trading on Nasdaq under the new ticker symbol “NBP” on October 30, 2025. These filings also indicate that the legal entity is a Cayman Islands exempted company with operations managed from Rockville, Maryland.

Collaborations and Partnerships

I-Mab’s development strategy relies on collaborations with other biopharmaceutical organizations. Public information highlights:

• A global partnership with ABL Bio for the development of bispecific antibodies such as givastomig and ragistomig, with shared worldwide rights for certain territories.
• Transactions involving Bridge Health Biotech Co., Ltd., under which I-Mab obtained rights related to the Claudin 18.2 parental antibody used in givastomig, including rights to bispecific and multi-specific applications.
• Arrangements involving AffaMed Therapeutics and AskGene Pharma, Inc. for VIS-101 (also known as AM712 or ASKG712), including an exclusive license agreement and subsequent assignment and assumption agreements through Visara and Everest Medicines for specific regional rights.

These collaborations are described by the company as supporting its access to differentiated assets and expanding its reach across geographic markets through licensing and co-development structures.

Capital Markets and Listing Status

According to its SEC filings and press releases, I-Mab has raised capital through offerings of American Depositary Shares representing ordinary shares on the Nasdaq Global Market. The company has also announced its intention to pursue a Hong Kong IPO to achieve a dual listing on Nasdaq and the Hong Kong Stock Exchange, subject to regulatory approvals and market conditions. There is no indication in the provided filings of a delisting from Nasdaq; instead, the filings describe a change of name and ticker symbol from IMAB to NBP and the continuation of trading on Nasdaq under the new symbol.

Focus Areas and Therapeutic Strategy

Across its communications, I-Mab emphasizes a focus on precision immuno-oncology, particularly targeting mechanisms such as Claudin 18.2, 4-1BB, PD-L1, and CD73 in solid tumors. The company describes its approach as integrating rigorous asset selection, bespoke translational strategies, and efficient clinical execution. It highlights the potential of Asia Pacific-originated biopharma innovations and notes the role of its shareholders and partners in supporting access to assets and capital.

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