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March 3, 2020, 6:59 a.m. EST

Imara sets IPO terms, expects to raise up to $80 million and be valued at up to $294 million

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By Tomi Kilgore

Imara Inc. /zigman2/quotes/216873890/composite IMRA +1.61% set terms of its initial public offering, in which the biopharmaceutical company could raise up to $80.1 million, and be valued at up to $293.9 million. The Boston-based company is offering 4.45 million shares of common stock in the IPO, which is expected to price between $16 and $18 a share. The stock is expected to list on the Nasdaq exchange under the ticker symbol "IMRA." The lead underwriters are Morgan Stanley, Citigroup and SVB Leerink. The clinical-stage biopharmaceutical company is developing treatments for patients suffering from inherited genetic disorders of hemoglobin. The company's initial product candidate is IMR-687, an oral potential treatment for sickle cell disease. The company recorded a net loss of $23.5 million in 2019, after a loss of $11.3 million in 2018, as operating expenses grew to $24.1 million from $10.7 million. The company is looking to go public at a time the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO +4.55% has gained 4.7% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.48% has slipped 0.1%.

US : U.S.: Nasdaq
$ 33.49
+0.53 +1.61%
Volume: 16,521
May 29, 2020 4:00p
P/E Ratio
Dividend Yield
Market Cap
$578.72 million
Rev. per Employee
US : U.S.: NYSE Arca
$ 36.73
+1.60 +4.55%
Volume: 9,290
May 29, 2020 3:59p
+14.58 +0.48%
Volume: 4.38B
May 29, 2020 5:14p

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