Shares of I-MAB (NASDAQ: IMAB), a U.S.-based global biotech company focused on immuno-oncology, soared 5.70% in pre-market trading on Monday. The surge comes on the heels of the company's announcement of significant changes to its leadership structure and research focus.

I-MAB revealed the appointment of three seasoned biotech executives to its Board of Directors: Dr. Robert Lenz, Ms. Xin Liu, and Dr. Sean Cao. Dr. Lenz, a veteran research and development leader with experience at Neumora Therapeutics and Amgen, will chair the newly formed Research and Development Committee. This strategic move is aimed at accelerating innovation and long-term growth for the company.

Additionally, I-MAB announced the expansion of its Scientific Advisory Board with the appointment of Dr. Ken Takeshita, a recognized biopharmaceutical executive and clinical development expert. These appointments are viewed as a significant step forward for I-MAB as it progresses with the development of givastomig, its potential best-in-class bispecific antibody for gastric cancers. The market's positive reaction suggests investors are optimistic about the company's enhanced leadership and renewed focus on research and development, which could potentially drive future growth and innovation in its immuno-oncology pipeline.