Imago BioSciences rises on update for lead drug studies

Hanall Biopharma

20/08/2021 18:51

**  Shares of biopharma co Imago BioSciences Inc  IMGO.O 
rise 3.6% to $20.66 
    ** Imago reported its Q2 results after market hours on
Thursday and said it completed enrollment in its mid-stage study
testing its lead drug candidate, bomedemstat, for myelofibrosis,
a type of bone marrow cancer
    ** Co also said enrollment in its mid-stage trial of
bomedemstat in essential thrombocythemia (ET) is ongoing;
expects to provide update on both trials before the year-end
    ** ET is a condition in which the body produces too many
platelets
    ** Jefferies says the data from both studies could be made
available at the American Society of Hematology's annual meeting
held in December
    ** Says the update would give clarity regarding what lies
ahead for both programs; sees ET as an optimal fit for the drug
and estimates current peak sales of $872 mln
    ** Co's Q2 net loss widens to $8.8 mln due to higher
expenses from $3.7 mln a year earlier   
    ** Including session's gains, stock up 26.8% since its
market debut in July

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))