Biopharma Company Imara Inc To Make U.S. Trading Debut On March 12

(RTTNews) - Boston, Massachusetts-based Imara Inc. is slated to debut on the Nasdaq Global Select Market, under the symbol 'IMRA', on March 12, 2020.

Imara is a clinical-stage biopharmaceutical company developing novel therapeutics to treat patients with rare inherited genetic disorders of hemoglobin, known as hemoglobinopathies.

The company has offered to sell 4.45 million shares of its common stock in the offering, and has granted the underwriters an option for 30 days to purchase 667,500 additional shares of common stock.

The initial public offering price is expected to be between $16 and $18 per share.

Underwriters of the IPO:

Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., SVB Leerink LLC

Pipeline and Near-term Catalysts:

The company's sole product candidate is IMR-687, an oral, once-per-day treatment for the treatment of sickle cell disease, or SCD, and b-thalassemia.

- IMR-687 is currently in a phase IIa clinical trial in adult patients with sickle cell disease, or SCD, with topline data expected in the fourth quarter of 2020.

- Based on phase IIa interim results, a phase IIb study of IMR-687 for SCD is slated to be initiated in the first half of 2020, with interim data expected in the first half of 2021.

- A phase IIb clinical trial of IMR-687 in adult patients with b-thalassemia is also expected to be initiated in the first half of 2020, with interim data expected in the first half of 2021.