Bitwise MARA Option Income Strategy ETF Stock Price, News & Analysis

Bitwise MARA Option Income Strategy ETF (ticker: IMRA on Nasdaq) is an exchange-traded fund that appears in regulatory records connected with Enliven Therapeutics, Inc. While the ETF’s detailed investment strategy is not described in the available materials, its name indicates a focus on an option income strategy related to MARA, implemented within an ETF structure. The symbol IMRA has also historically been associated with Imara Inc., a clinical-stage biotechnology company.

According to historical company communications, Imara Inc. described itself as a clinical-stage biotechnology company dedicated to developing and commercializing novel therapeutics to treat patients suffering from rare inherited genetic disorders of hemoglobin and other serious diseases. Imara reported that it was advancing tovinontrine (IMR-687), a highly selective, potent small molecule inhibitor of phosphodiesterase‑9 (PDE9), as an oral, potentially disease‑modifying treatment in Phase 2b clinical trials for sickle cell disease and beta‑thalassemia, and in clinical or preclinical development for heart failure with preserved ejection fraction (HFpEF). Imara also reported development of IMR‑261, an oral activator of nuclear factor erythroid 2–related factor 2 (Nrf2).

Subsequent news releases state that Imara entered into a definitive merger agreement with Enliven Therapeutics, Inc., a clinical‑stage precision oncology company focused on the discovery and development of small molecule inhibitors for cancer. The companies announced an all‑stock transaction under which a wholly owned subsidiary of Imara would merge with and into Enliven, with Enliven surviving as a wholly owned subsidiary of Imara. Following closing of the merger, the combined company was expected to operate under the name Enliven Therapeutics, Inc. and trade on the Nasdaq Global Select Market under the ticker symbol ELVN.

In a later announcement, Imara reported that its stockholders approved the merger with Enliven and that, after closing, the combined company would change its name from Imara Inc. to Enliven Therapeutics, Inc., trade under the ticker symbol ELVN, be led by Enliven’s management team, and focus on Enliven’s business related to the discovery and development of small molecule inhibitors to help patients with cancer. These communications indicate that the historical Imara business in hemoglobin disorders transitioned, through the merger, into a combined entity centered on precision oncology under the Enliven Therapeutics name and ELVN ticker.

Because of these corporate changes, the IMRA symbol has a historical association with Imara’s biotechnology activities and a separate, ETF‑related usage as Bitwise MARA Option Income Strategy ETF. Investors researching IMRA may therefore encounter both the legacy biopharmaceutical context and the ETF context. The regulatory filing excerpt referencing Enliven Therapeutics, Inc. and its listing under the symbol ELVN on the Nasdaq Global Select Market provides further evidence that the operating biopharmaceutical business described in Imara’s prior communications is now represented under the Enliven name and ELVN ticker.

Corporate evolution and ticker history

Historical news releases explain that Imara’s stockholders approved the issuance of shares to Enliven stockholders under an Agreement and Plan of Merger, and that, upon completion of the merger, Enliven would become a wholly owned subsidiary of Imara. The combined company would then be renamed Enliven Therapeutics, Inc. and trade under the symbol ELVN. This sequence clarifies that IMRA functioned as the trading symbol for Imara prior to the merger and that the combined operating company’s shares trade under ELVN afterward.

In addition, the merger‑related communications describe a 1‑for‑4 reverse stock split of Imara’s common stock, approved by Imara’s stockholders and implemented prior to the closing of the merger. The reverse stock split affected issued and outstanding shares of Imara common stock and proportionally adjusted authorized shares and equity incentive plan share counts, without changing the par value of common stock or the authorized number of preferred shares. These details are part of the historical record of the IMRA symbol and its transition into the ELVN‑traded combined company.

Legacy therapeutic focus of Imara Inc.

Imara’s historical disclosures describe a focus on disorders of hemoglobin and HFpEF. Tovinontrine (IMR‑687) was characterized as a highly selective and potent small molecule inhibitor of PDE9, with a multimodal mechanism of action acting on red blood cells and potentially on white blood cells, adhesion mediators and blood vessels. Company communications state that PDE9 selectively degrades cyclic guanosine monophosphate (cGMP), a signaling molecule involved in vascular biology and hemoglobin production, and that lower cGMP levels are found in people with sickle cell disease and beta‑thalassemia. By blocking PDE9, tovinontrine was described as increasing cGMP levels, which was associated in the company’s materials with potential benefits such as reduced white blood cell activation, reduced adhesion, and potential reactivation of fetal hemoglobin (HbF).

Imara also reported preclinical and clinical data on tovinontrine in sickle cell disease and beta‑thalassemia, including Phase 2a and Phase 2b studies, and described plans for a Phase 2 clinical trial in HFpEF after clearance of an investigational new drug application by the U.S. Food and Drug Administration. Separate communications describe IMR‑261 as an oral Nrf2 activator with preclinical data in models of sickle cell disease and beta‑thalassemia, and potential relevance to iron overload disorders.

Transition to Enliven Therapeutics, Inc. (ELVN)

The merger announcements explain that, after completion of the all‑stock transaction and concurrent financing, the combined company would focus on Enliven’s precision oncology programs. Enliven is described as a clinical‑stage precision oncology company focused on the discovery and development of small molecule kinase inhibitors, with a portfolio including ELVN‑001, a small molecule BCR‑ABL inhibitor for chronic myeloid leukemia, and ELVN‑002, a HER2 inhibitor for HER2‑mutant lung cancer and other HER2‑driven tumor types. Following the merger, the combined company’s shares trade on the Nasdaq Global Select Market under the ticker ELVN, and a later SEC filing identifies Enliven Therapeutics, Inc. with common stock listed under ELVN.

For users examining IMRA on Stock Titan, this means the symbol reflects a complex history: a legacy as the trading symbol of Imara Inc., a clinical‑stage biotechnology company focused on hemoglobin disorders and HFpEF, and a separate identification as Bitwise MARA Option Income Strategy ETF. The operating biopharmaceutical business once associated with IMRA is now described in public documents under the Enliven Therapeutics, Inc. name and ELVN ticker.

Key points for investors reviewing IMRA

• IMRA appears as the ticker for Bitwise MARA Option Income Strategy ETF, an exchange‑traded fund whose detailed strategy is not described in the provided materials.
• Historically, IMRA was the Nasdaq symbol for Imara Inc., a clinical‑stage biotechnology company focused on rare hemoglobin disorders and HFpEF.
• Imara entered into and completed an all‑stock merger with Enliven Therapeutics, Inc., after which the combined company was renamed Enliven Therapeutics, Inc. and trades under the symbol ELVN on the Nasdaq Global Select Market.
• Historical Imara programs included tovinontrine (IMR‑687), a PDE9 inhibitor in clinical development for sickle cell disease, beta‑thalassemia and HFpEF, and IMR‑261, an oral Nrf2 activator described in preclinical models.

FAQs about Bitwise MARA Option Income Strategy ETF / IMRA

What is Bitwise MARA Option Income Strategy ETF (IMRA)?
Based on the available information, Bitwise MARA Option Income Strategy ETF is an exchange‑traded fund identified by the ticker IMRA. The provided materials do not include a detailed description of its holdings or option strategy, but the name indicates an ETF structure and an option income approach related to MARA.

How is IMRA related to Imara Inc.?
IMRA historically served as the Nasdaq ticker symbol for Imara Inc., a clinical‑stage biotechnology company. Imara described itself as focused on developing and commercializing therapeutics for rare inherited genetic disorders of hemoglobin and other serious diseases, and reported development programs for tovinontrine (IMR‑687) and IMR‑261.

What happened to Imara Inc. and the IMRA ticker?
News releases state that Imara entered into a definitive merger agreement with Enliven Therapeutics, Inc., under which a wholly owned subsidiary of Imara would merge with and into Enliven. Following stockholder approval and closing of the merger, the combined company was to be renamed Enliven Therapeutics, Inc. and trade on the Nasdaq Global Select Market under the ticker symbol ELVN, focusing on Enliven’s precision oncology business.

Where can I find information about the biopharmaceutical business formerly associated with IMRA?
Information about the operating biopharmaceutical business that was historically associated with IMRA is described in Imara’s prior public communications and in later materials under the Enliven Therapeutics, Inc. name. A subsequent SEC filing identifies Enliven Therapeutics, Inc. with common stock listed under the symbol ELVN on the Nasdaq Global Select Market.

What therapeutic areas did Imara focus on historically?
Imara’s communications describe a focus on rare inherited genetic disorders of hemoglobin, such as sickle cell disease and beta‑thalassemia, and on heart failure with preserved ejection fraction (HFpEF). Its lead program tovinontrine (IMR‑687) was in Phase 2b clinical trials for sickle cell disease and beta‑thalassemia and in clinical or preclinical development for HFpEF. IMR‑261 was described as an oral Nrf2 activator with preclinical data in hemoglobin and iron overload‑related disorders.

What is Enliven Therapeutics, Inc. (ELVN) in relation to IMRA?
Enliven Therapeutics, Inc. is described in merger‑related news as a clinical‑stage precision oncology company focused on small molecule kinase inhibitors for cancer. After the merger with Imara, the combined company was expected to operate under the Enliven Therapeutics, Inc. name and to trade under the ticker ELVN on the Nasdaq Global Select Market, with a focus on Enliven’s oncology pipeline.