Facing record-high volatility and market uncertainty, one biotech is scheduled for the week ahead.
Formed by New Enterprise Associate's orphan drug accelerator Cydan, genetic disorder biotech Imara (IMRA) plans to raise $76 million at a $301 million market cap. The Boston-based company's sole candidate IMR-687 is a once-a-day therapy targeting sickle cell disease and beta-thalassemia by inhibiting PDE9. It is expected to begin a Phase 2b trial in the 1H20. While there is significant unmet medical need for both disorders, it is a crowded space, with three products approved in 2019. Recent biotech IPOs have held their ground in the market sell off, though Imara is significantly smaller, later stage than most of them, and its narrow-pipeline peers traded down the past month.
