I-Mab Q2 FY2023 earnings call

Strategic Pillars

• Rapidly advance oncology assets: uliledlimab and givastomig globally. Focus on eftansomatropin alfa's positive Phase 3 results in China.
• Maintain strong balance sheet: $414 million cash balance supports strategic plan; streamlining spend for key programs.
• Establish US-based global biotech: Building on core assets, balance sheet, and R&D organization; aligning with Board on future direction.

Clinical Updates

• Uliledlimab: Phase 1b/2 data shows encouraging results in advanced NSCLC; plans to combine with chemotherapy.
• Givastomig: Phase 1 study shows objective responses; plans to combine with chemotherapy and immunotherapy in H1 2024.
• Eftansomatropin alfa: Positive Phase 3 results for children with growth hormone deficiency; plan to submit BLA in China 2024.
• Felzartamab and lemzoparlimab: Ongoing clinical trials in China.

For the six months ended June 30, 2023, total revenue was $2.7 million compared to $7.7 million in the same period of 2022. Research and development expenses were $61.6 million in H1 2023 vs $67.6 million in H1 2022, primarily due to reduced payroll and share-based compensation. Administrative expenses were $33.8 million in H1 2023 vs $54.1 million in H1 2022, driven by lower payroll and professional services. Cash, cash equivalents, restricted cash, and short-term investments totaled $414.6 million as of June 30, 2023.

Forward-Looking

• Plan to submit IND for uliledlimab in H1 2024 in combination with chemo and checkpoint inhibitors for NSCLC.
• Initiate Phase 1b dose escalation study for givastomig in H1 2024 in gastric, GEJ, and esophageal cancer.
• Maintain strong cash position to support strategic initiatives; focus on establishing US-based global biotech.

• Forward-looking statements subject to risks and uncertainties beyond company's control.
• Risk factors detailed in SEC filings; new risks may emerge, impacting actual results differing from forward-looking statements.

Q: Comment on safety profile of eftansomatropin alfa and timeline for approval.

A: John Hayslip noted favorable safety profile vs Norditropin; Andrew Zhu mentioned plan to submit BLA in China 2024.

Q: Thoughts on givastomig's coverage of Claudin expression levels.

A: John Hayslip stated givastomig effective in patients with lower Claudin 18.2 expression.

Q: Influence of magrolimab's results on lemzoparlimab's strategy.

A: Raj Kannan said will review interim data and class data to inform decision on lemzoparlimab.

Q: Commercial opportunity and pricing of eftansomatropin alfa.

A: Raj Kannan mentioned will price competitively but too early to comment on price publicly.

Q: Pipeline development focus for early-stage assets.

A: Raj Kannan stated focus on late-stage compounds with potential for market entry, with future focus on early-stage assets.