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BUZZ-I-Mab tumbles on China drug report, analyst calls selloff overreaction

Reuters
09/11
BUZZ-<a href="https://laohu8.com/S/IMAB">I-Mab</a> tumbles on China drug report, analyst calls selloff overreaction

** Shares of drug developer I-Mab IMAB.O fall as much as 30% to $3.20

** The Trump administration has been discussing severe restrictions on Chinese medicines, the New York Times reported on Wednesday, citing a draft executive order

** BTIG analyst Justin Zelin says the IMAB selloff an "overreaction" and "an unwarranted mispricing and not a fundamental risk"

** "I-Mab is not a Chinese drugmaker, but a U.S.-based biotech company" Zelin adds, "divested its China operations in April 2024"

** Including session moves, stock is up more than fourfold YTD

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))

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