IMARA Inc. (IMRA) shares were up 7.91% in after-hours trading at $6.00 on the last check on Friday. At $5.56, Imara stock closed the last session down -4.14% or $0.24. IMRA shares traded between $5.42 and $5.89 during regular trading. On the day, 0.86 million shares of IMRA stock were traded, exceeding the company’s 50-day daily volume of 0.15 million and exceeding its Year-to-Date volume of 0.15 million.
The share price of IMRA stock has fallen -74.28% over the past 12 months, while it has declined by -22.78% over the past week. The IMRA stock has decreased by -59.83% over the last six months, and by -19.65% over the last three months. After announcing the pricing of its underwritten public offering, IMRA stock rose.
What is the stock offer of IMRA?
Imara is a clinical-stage biotech company developing and commercializing novel therapies for treating patients suffering from hemoglobin disorders caused by inherited genetic changes. IMRA is currently working on developing IMR-687, a small molecule inhibitor of PDE9 capable of modifying sickle cell anemia and beta thalassemia through oral administration, once daily. A multimodal mechanism of action is being designed for IMR-687, which will act on red blood cells, white blood cells, adhesion mediators, and other types of cells.
It was announced last Tuesday that Imara Inc. had priced its previously announced underwritten public offering of common stock.
- After underwriting discounts and commissions, the public offering price for IMRA’s stock was $6.00 per share, which resulted in proceeds of $50 million.
- According to customary closing conditions, the offering was expected to close on July 16, 2021.
- IMRA itself offered all shares.
- Furthermore, IMRA has given the underwriters the option to purchase an additional $7.5 million of its common stock at a public offering price of $0.50 a share, less underwriting discounts and commissions, for a period of 30 days.
In its latest Real Impact community support initiative, Imara recently announced its second-year award recipients.
IMRA fund 30 nonprofit, community-based organizations (CBOs) serving patients and families affected by sickle cell disease (SCD) and beta-thalassemia out of a total of $150,000 awarded under this program. A $25,000 increase was made from the grant funding in 2020 when the program was implemented.
How did IMRA grant the award?
Imara (IMRA) evaluated grant applications based on metrics such as clear identification of a pressing need, plan of execution, impact on target communities, and proposed measures of success. It was important that IMRA’s executive officers were not involved in selecting grant applications as each grant committee was composed of external reviewers.
