The Tasly and Genexine-backed drug developer floated above the mid-point of its range, in an initial public offering that could end up topping $119m.
China-based biopharmaceutical company I-Mab, which is backed by pharmaceutical firm Tasly and immunotherapeutics developer Genexine, raised approximately $104m when it went public in the US on Friday.
I-Mab priced just over 7 million American Depositary shares (each representing 23 normal shares) at $14.00 each, towards the upper end of the $12 to $15 range it had set for the initial public offering. They closed at $12.50 after its first day of trading on the Nasdaq Global Market.
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