IMGO Imago BioSciences Inc.
Upcoming Catalysts
| Drug | Stage | Catalyst Date |
|---|---|---|
|
Bomedemstat
Myelofibrosis
|
Phase 2
Phase 2
|
Premium membership is required to view catalyst dates, analyst ratings, earnings dates and cash burn data. Click here to unlock and sign up to a 14-day FREE TRIAL.
|
|
Bomedemstat
Essential Thrombocythemia
|
Phase 2
Phase 2
|
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Quisque sapien.
|
Drug Pipeline
| Drug | Stage | Notes |
|---|---|---|
|
Bomedemstat and ruxolitinib
Myelofibrosis
|
Phase 2
Phase 2
|
Phase 2 trial planned.
|
|
Bomedemstat
Polycythemia Vera
|
Phase 2
Phase 2
|
Phase 2 trial enrolling.
|
Latest News
-
View Full Article Hide Full Article
Imago BioSciences, Inc. (Imago) (NASDAQ:IMGO), a clinical stage biopharmaceutical company discovering new medicines for the treatment of myeloproliferative neoplasms (MPNs), today announced that it will be added to the Russell® 2000 Index as part of the planned second quarter IPO additions scheduled to join the Russell US Indexes on September 20, 2021.
"The inclusion of Imago BioSciences in the Russell 2000® Index marks a notable milestone following our successful IPO in July. As we continue to progress our clinical programs forward for the treatment of myeloproliferative neoplasms, I anticipate the inclusion will bring greater market awareness of our approach to debilitating diseases," said Hugh Young Rienhoff, Jr., M.D., Chief Executive Officer of Imago BioSciences. "We are honored to be a part of the Russell Indexes and I look forward to leveraging our addition to drive additional value to patients and stockholders alike."
The Russell 2000® Index measures the performance of the small-cap segment of the US equity market. The Russell 2000® Index is a subset of the Russell 3000® Index representing approximately 10% of the total market capitalization of that index. It includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.7 trillion in assets are benchmarked against Russell's U.S. indexes which are part of FTSE Russell, a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide.
For more information on the Russell Indexes, please visit the FTSE Russell website at https://www.ftserussell.com.
About Imago BioSciences
Imago BioSciences is a clinical-stage biopharmaceutical company discovering and developing novel small molecule product candidates that target lysine-specific demethylase 1 (LSD1), an enzyme that plays a central role in the production of blood cells in the bone marrow. Imago is focused on improving the quality and length of life for patients with cancer and bone marrow diseases. Bomedemstat, an orally available, small molecule inhibitor of LSD1, is the lead product candidate discovered by Imago for the treatment of certain myeloproliferative neoplasms (MPNs), a family of related, chronic cancers of the bone marrow. Imago is evaluating Bomedemstat as a potentially disease-modifying therapy in two Phase 2 clinical trials for the treatment of essential thrombocythemia (NCT04254978) and myelofibrosis (NCT03136185). Bomedemstat has U.S. FDA Orphan Drug and Fast Track Designation for the treatment of ET and MF, European Medicines Agency (EMA) Orphan Designation for the treatment of ET and MF, and PRIority MEdicines (PRIME) Designation by the EMA for the treatment of MF. The company is based in South San Francisco, California.
Forward Looking Statements
This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "may," "will," "should," "expect," "believe" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements.
These statements may relate to, but are not limited to, plans for future operations and technological capabilities as well as assumptions relating to the foregoing. Forward looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. You should not put undue reliance on any forward-looking statements. Forward looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all.
Except as required by law, Imago does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210920005233/en/
-
Imago BioSciences Reports Second Quarter 2021 Financial Results and Provides Recent Business UpdatesView Full Article Hide Full Article
Imago BioSciences, Inc. ("Imago") (NASDAQ:IMGO), a clinical stage biopharmaceutical company discovering new medicines for the treatment of myeloproliferative neoplasms (MPNs), today reported financial results for the second quarter ended June 30, 2021 and highlighted recent corporate updates.
"2021 to date has been a transformative year for Imago BioSciences. We have made progress in advancing the clinical development of our lead product candidate bomedemstat for the treatment of blood cancers where the unmet medical need persists. Our growth was anchored by a number of key accomplishments, including our first report on the clinical activity of bomedemstat in essential thrombocythemia at the European Hematology Association (EHA) meeting in June, as well as an update from our Phase 2 24-week myelofibrosis trial which is now fully enrolled, expanding our team, and finally, the successful completion of our IPO in July," said Dr. Hugh Y. Rienhoff, Jr., M.D, chief executive officer of Imago BioSciences. "With this momentum, we look forward to continuing enrollment in our Phase 2 trial of bomedemstat in essential thrombocythemia, COVID permitting, and providing updates on both of these ongoing company-sponsored, clinical trials before year-end."
Recent Corporate Developments and Pipeline Updates
- Expanded Executive Management Team: In May 2021, Imago appointed Wan-Jen Hong, M.D., as chief medical officer. Dr. Hong joins Imago after 7 years at Genentech, where she served as Group Medical Director in their late-stage clinical development group focused on hematologic oncology.
- Completed Enrollment of Phase 2 Myelofibrosis Trial: In May 2021, Imago completed enrollment of 89 patients with advanced myelofibrosis in its Phase 2, 24 week clinical trial of bomedemstat.
- Presented Data from Two Phase 2 Studies of Bomedemstat at 2021 European Hematology Association (EHA) Virtual Congress: In June 2021, Imago provided updates at the 2021 EHA Virtual Congress on two Phase 2 clinical trials of bomedemstat, one in patients with essential thrombocythemia (ET) and the second in patients with advanced myelofibrosis (MF). The interim results demonstrate continued encouraging clinical activity and tolerability in these patient groups.
- Received Orphan Designation for Bomedemstat in ET from EMA: In June 2021, Imago received orphan designation for bomedemstat for the treatment of essential thrombocythemia (ET) from the European Medicines Agency (EMA). Orphan designation by the EMA is designed to encourage the development of new treatments for life-threatening or chronically debilitating conditions affecting no more than 5 in 10,000 people in the European Union.
- Successful Completion of Initial Public Offering (IPO): In July 2021, Imago completed an initial public offering and concurrent private placement with Pfizer, resulting in gross proceeds of $174.6 million.
Second Quarter 2021 Financial Results
- Cash and Cash Equivalents: As of June 30, 2021, Imago had cash, cash equivalents, restricted cash and short-term investments of $81.1 million. Cash as of June 30, 2021 excludes the net proceeds of approximately $163.7 million from the IPO and private placement, after deducting underwriting discounts and commissions of $10.8 million.
- Research & Development (R&D) Expenses: R&D expenses for the quarter ended June 30, 2021 were $7.1 million (including stock-based compensation expense of $0.1 million) as compared to $3.4 million for the same period in 2020. The overall increase in R&D expenses was primarily related to the Phase 2 clinical trial for ET, continued development of commercial material and material to support the ongoing and new clinical trials, and salaries and non-cash stock-based compensation expense for R&D employees as we ramped up our operations.
- General and Administrative (G&A) Expenses: G&A expenses for the quarter ended June 30, 2021 were $1.7 million (including stock-based compensation expense of $0.3 million) as compared to $0.6 million for the same period in 2020. The overall increase in G&A expenses was primarily driven by increasing costs in connection with our preparation to become a public company.
- Net Loss: Net loss for the quarter ended June 30, 2021 was $8.8 million compared to $3.7 million for the same period in 2020.
About Imago BioSciences
Imago BioSciences is a clinical-stage biopharmaceutical company discovering and developing novel small molecule product candidates that target lysine-specific demethylase 1 (LSD1), an enzyme that plays a central role in the production of blood cells in the bone marrow. Imago is focused on improving the quality and length of life for patients with cancer and bone marrow diseases. Bomedemstat, an orally available, small molecule inhibitor of LSD1, is the lead product candidate discovered by Imago for the treatment of certain myeloproliferative neoplasms (MPNs), a family of related, chronic cancers of the bone marrow. Imago is evaluating Bomedemstat as a potentially disease-modifying therapy in two Phase 2 clinical trials for the treatment of essential thrombocythemia (NCT04254978) and myelofibrosis (NCT03136185). Bomedemstat has U.S. FDA Orphan Drug and Fast Track Designation for the treatment of ET and MF, European Medicines Agency (EMA) Orphan Designation for the treatment of ET and MF, and PRIority MEdicines (PRIME) Designation by the EMA for the treatment of MF. The company is based in South San Francisco, California. To learn more, visit www.imagobio.com, www.myelofibrosisclinicalstudy.com, www.etclinicalstudy.com and follow us on Twitter @ImagoBioRx, Facebook and LinkedIn.
Forward Looking Statements
This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "may," "will," "should," "expect," "believe" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements.
These statements may relate to, but are not limited to, the results, conduct, progress and timing of Imago clinical trials, the regulatory approval path for bomedemstat, plans for future operations, and the impact of the ongoing COVID-19 pandemic and the development of new variants of COVID-19, such as the delta variant, on enrollment of our clinical trials, as well as assumptions relating to the foregoing. Forward looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. You should not put undue reliance on any forward-looking statements. Forward looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all.
Except as required by law, Imago does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
IMAGO BIOSCIENCES, INC.
Condensed Consolidated Balance Sheets
(in thousands, except share and per share data)
(unaudited)JUNE 30,
DECEMBER 31,
2021
2020
ASSETS
Current assets:
Cash and cash equivalents
$
6,593
$
19,266
Short-term investments
74,516
57,375
Prepaid expenses and other current assets
1,526
1,181
Total current assets
82,635
77,822
Property and equipment, net
4
8
Long-term investments
—
19,689
Other long-term assets
2,549
1,414
Total assets
$
85,188
$
98,933
LIABILITIES, CONVERTIBLE PREFERRED STOCK AND
STOCKHOLDERS' DEFICITCurrent liabilities:
Accounts payable
$
1,964
$
1,379
Accrued and other current liabilities
4,431
3,726
Total current liabilities
6,395
5,105
Commitments and contingencies
Convertible preferred stock, $0.0001 par value; 180,059,639 shares
authorized, 21,435,632 issued and outstanding as of June 30, 2021 and
December 31, 2020; aggregate liquidation preference of $165,500 as of
June 30, 2021 and December 31, 2020162,612
162,612
Stockholders' deficit:
Common stock, $0.0001 par value; 228,300,000 shares authorized as of
June 30, 2021 and December 31, 2020, respectively; 1,087,059 and
1,030,023 shares issued and outstanding as of June 30, 2021 and
December 31, 2020, respectively—
—
Additional paid-in capital
2,421
1,561
Accumulated other comprehensive income (loss)
17
(3
)
Accumulated deficit
(86,257
)
(70,342
)
Total stockholders' deficit
(83,819
)
(68,784
)
Total liabilities, convertible preferred stock and stockholders' deficit
$
85,188
$
98,933
IMAGO BIOSCIENCES, INC.
Condensed Consolidated Statements of Operations
(in thousands, except share and per share data)
(unaudited)THREE MONTHS ENDED
JUNE 30,SIX MONTHS ENDED
JUNE 30,2021
2020
2021
2020
Operating expenses:
Research and development
$
7,099
$
3,354
$
11,871
$
7,046
General and administrative
1,743
649
4,119
1,150
Total operating expenses
8,842
4,003
15,990
8,196
Loss from operations
(8,842
)
(4,003
)
(15,990
)
(8,196
)
Other income (expense), net:
Interest income
82
—
169
6
Change in fair value of convertible preferred stock
tranche liability—
271
—
214
Other income (expense), net
(46
)
2
(94
)
1
Total other income (expense), net
36
273
75
221
Net loss
$
(8,806
)
$
(3,730
)
$
(15,915
)
$
(7,975
)
Net loss per share, basic and diluted
$
(8.13
)
$
(3.66
)
$
(15.06
)
$
(7.83
)
Weighted-average shares used in computing net loss per
share, basic and diluted1,082,932
1,018,119
1,056,624
1,018,119
View source version on businesswire.com: https://www.businesswire.com/news/home/20210819005160/en/
-
View Full Article Hide Full Article
Imago BioSciences, Inc. (Imago) (NASDAQ:IMGO), a clinical stage biopharmaceutical company discovering new medicines for the treatment of myeloproliferative neoplasms (MPNs), today announced that the European Medicines Agency (EMA) has granted orphan designation for bomedemstat, a lysine-specific demethylase-1 (LSD1) inhibitor, for the treatment of essential thrombocythemia (ET).
"As a company dedicated to providing new, safe and effective treatment alternatives for patients with life-threatening diseases of the bone marrow, we are pleased to receive EMA orphan designation for our lead asset, which provides meaningful validation for our treatment approach," said Hugh Young Rienhoff, Jr., M.D., chief executive officer of Imago BioSciences.
Data presented at the 26th European Hematology Association Virtual Congress showed that bomedemstat was generally well-tolerated by patients with ET and demonstrated promising clinical activity as a monotherapy in patients who have become resistant to or intolerant of one or more standard-of-care treatments. The Phase 2 clinical trial of bomedemstat for the treatment of ET continues to actively enroll globally (NCT04254978).
"Gaining this designation is an important regulatory milestone that gives us added momentum in advancing the development of bomedemstat. We are planning a pivotal study to address the significant medical needs of these patients," said Wan-Jen Hong, M.D., chief medical officer of Imago BioSciences.
Orphan designation by the EMA is designed to encourage the development of new treatments for life-threatening or chronically debilitating conditions affecting no more than five in 10,000 people in the European Union. Medicines that meet the criteria for orphan designation potentially qualify for several incentives, including 10-year market exclusivity, protocol assistance, and reduced fees for regulatory activities.
About Essential Thrombocythemia
Essential thrombocythemia is a rare blood cancer resulting from the overproduction of platelets, which increases the risk of blood clots and bleeding. It is one of the MPN family of rare bone marrow diseases and affects approximately 80,000 – 100,000 patients in the U.S. There is a significant unmet need for new ET therapies that can effectively reduce patient platelet levels without general bone marrow suppression, while slowing the progression of the underlying disease. By normalizing elevated platelets, the primary clinical feature of ET, bomedemstat can address an unmet need in the 20% of the high-risk ET patients who are intolerant or resistant to hydroxyurea, the current standard-of-care for those patients with ET at greatest risk for blood clots.
About Imago BioSciences
Imago BioSciences is a clinical-stage biopharmaceutical company discovering and developing novel small molecule product candidates that target lysine-specific demethylase 1 (LSD1), an enzyme that plays a central role in the production of blood cells in the bone marrow. Imago is focused on improving the quality and length of life for patients with cancer and bone marrow diseases. Bomedemstat, an orally available, small molecule inhibitor of LSD1, is the lead product candidate discovered by Imago for the treatment of certain myeloproliferative neoplasms (MPNs), a family of related, chronic cancers of the bone marrow. Imago is evaluating Bomedemstat as a potentially disease-modifying therapy in two Phase 2 clinical trials for the treatment of essential thrombocythemia (NCT04254978) and myelofibrosis (NCT03136185). Bomedemstat has U.S. FDA Orphan Drug and Fast Track Designation for the treatment of ET and MF, European Medicines Agency (EMA) Orphan Designation for the treatment of ET and MF, and PRIority MEdicines (PRIME) Designation by the EMA for the treatment of MF. The company is based in South San Francisco, California.
Forward Looking Statements
This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "may," "will," "should," "expect," "believe" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements.
These statements may relate to, but are not limited to, the results, conduct, progress and timing of Imago clinical trials, the regulatory approval path for bomedemstat, expectations of future operating results or financial performance, market size and growth opportunities, plans for future operations, competitive position, technological capabilities, and strategic relationships, as well as assumptions relating to the foregoing. Forward looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. You should not put undue reliance on any forward-looking statements. Forward looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all.
Except as required by law, Imago does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210730005150/en/
-
View Full Article Hide Full Article
Imago BioSciences, Inc. ("Imago") (NASDAQ:IMGO), a clinical stage biopharmaceutical company discovering new medicines for the treatment of myeloproliferative neoplasms (MPNs), today announced that in connection with its previously announced public offering of its common stock, the underwriters have exercised their option to purchase an additional 1,260,000 shares of common stock from the Company. The gross proceeds from the exercise of the option, before deducting underwriting discounts and commissions and other offering expenses payable by Imago, were approximately $20.2 million.
Jefferies, Cowen, Stifel and Guggenheim Securities acted as joint book-running managers for the offering.
A registration statement relating to the securities has been filed with the Securities and Exchange Commission and became effective on July 15, 2021. The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from: Jefferies LLC, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by email at Prospectus_Department@Jefferies.com or by phone at 877-821-7388; or Cowen and Company, LLC, c/o Broadridge Financial Solutions, Attn: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (833) 297-2926 or by email at PostSaleManualRequests@broadridge.com; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, or by telephone at (415) 364-2720, or by email at syndprospectus@stifel.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544 or by email at GSEquityProspectusDelivery@guggenheimpartners.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210726005745/en/
-
View Full Article Hide Full Article
Imago BioSciences, Inc. ("Imago") (NASDAQ:IMGO), a clinical stage biopharmaceutical company discovering new medicines for the treatment of myeloproliferative neoplasms (MPNs), today announced the closing of $134.4 million in gross proceeds from its previously announced initial public offering and $20.0 million in gross proceeds from its concurrent private placement.
The initial public offering of 8,400,000 shares of common stock at a public offering price of $16.00 per share resulted in aggregate gross proceeds to Imago of $134.4 million, before deducting underwriting discounts, commissions and offering expenses. All of the shares in the initial public offering were offered by Imago.
Imago's common stock is now listed on The Nasdaq Global Select Market under the ticker symbol "IMGO".
Jefferies, Cowen, Stifel and Guggenheim Securities acted as joint book-running managers for the offering.
A registration statement relating to the securities has been filed with the Securities and Exchange Commission and became effective on July 15, 2021. The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from: Jefferies LLC, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by email at Prospectus_Department@Jefferies.com or by phone at 877-821-7388; or Cowen and Company, LLC, c/o Broadridge Financial Solutions, Attn: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (833) 297-2926 or by email at PostSaleManualRequests@broadridge.com; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, or by telephone at (415) 364-2720, or by email at syndprospectus@stifel.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544 or by email at GSEquityProspectusDelivery@guggenheimpartners.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210720006211/en/