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Wednesday, May 25, 2022

No Significant Results in IMR-687 Trial: IMARA Inc. (IMRA) Stock Fell Deep Premarket

IMARA Inc. (IMRA), a biotech company developing novel therapeutics for thalassemia and heart diseases, shares dwindled by 12.8% to be $1.63 during the regular trading session of April 4. Its price further sank as of the writing in the premarket session on April 5, 2022, by 33.1%. Its shares’ 52-week range is $1.10-$9.29 with a market cap of $42.8 million.


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IMRA: Update on IMR-687

On April 05, IMRA announced the interim analyses outcomes of the company’s Ardent Phase 2 clinical studies of tovinontrine or IMR-687 in sickle cell disease patients and tovinontrine’s Forte Phase 2 clinical studies in beta-thalassemia patients. The company will discontinue the Ardent and Forte clinical studies as a result of the non-satisfactory data generated by the analysis.

The company’s executive management was disappointed at the outcome of the analysis as the Ardent studies interim analysis did not repeat the prior recorded hopeful results of vaso-occlusive crisis.

IMRA: Industry Outlook

The pharmaceutical industry has recorded a poor performance in the last year and year-to-date, the main reasons being rising energy prices due to the Russia-Ukraine conflict and the threat to the healthcare system as a result of vaccine resistance as suggested by the financial experts. The analysts are warning the industry against these conditions and advocating multiple encouraging events and news by the companies for advancing the investors to get rid of the declining trajectory.

Company Outlook

During December and January, the company’s management participated in various investor conferences. In March, the company was mentioned in the article namely ‘Seven Biotech Stocks with Key Catalysts’. Its EPS for the full fiscal year of 2021 was recorded to be -$2.37. The company’s financial outlook for FY22 is its R&D expenses will be up to $65 million.

Conclusion

IMRA shares price reduced by $6.3 or 79% in the past year, again its price is plummeting in Tuesday’s premarket. The company reported disappointing clinical results of IMR-687 or tovinontrine in sickle cell and beta-thalassemia patients.

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