NEW YORK, Sept. 06, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in I-Mab (“I-Mab” or the “Company”) ABSORB. Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 7980.

The investigation concerns whether I-Mab and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

[Click here for information about joining the class action]

On or about January 17, 2020, I-Mab completed its initial public offering (“IPO”), selling more than 7 million American Depositary Shares (“ADSs”) at a price of $14.00 per ADS. Then, on August 16, 2022, the Company announced in a filing with the Securities and Exchange Commission that its collaborative partner AbbVie completed the global Phase 1b study of [I-Mab’s] Lemzoparlimab Combination Therapy with Azacitidine (‘AZA’) and Venetoclax in Patients with Myelodysplastic Syndrome (‘MDS’) and Acute Myeloid Leukemia (‘AML’).”

As a result of this news, I-Mab’s ADS price fell $1.14 per ADS, or 14.3%, to close at $6.83 per ADS on August 17, 2022, down 51.21% from the IPO -Price matches.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The firm has recovered numerous multi-million dollar claims on behalf of group members. See www.pomlaw.com.

CONTACT:

Robert S Willoughby

Pomerantz LLP

[email protected]

888-476-6529 ext. 7980