I-Mab surges after Bloomberg report on biotech exploring options

NovaBridge Biosciences

20/04/2022 13:31

** Chinese biotech's shares  IMAB.O  up 17% at $15 before
the bell   
    ** IMAB is exploring options, including a sale of the
business amid takeover interest from other global drugmakers,
Bloomberg reports, citing people familiar with the matter.
    ** Co is working with advisers on a strategic review after
drawing interest from U.S. and European pharmaceutical giants
seeking to expand in cancer therapies in the world's
second-largest economy, according to the report 
    ** IMAB did not immediately respond to Reuters request for
comment 
    ** Stock is down 74% YTD, through Tuesday's close

 (Reporting by Ankur Banerjee)