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