I-Mab (IMAB): Marketing Mix Analysis [Dec-2025 Updated]

You're looking at a biotech firm in a major transition, and honestly, understanding the marketing mix for a company like I-Mab (IMAB) right now isn't about shelf space; it's about clinical milestones. As of late 2025, I-Mab is firmly focused on proving the value of its pipeline, headlined by Givastomig's impressive 83% Objective Response Rate in gastric cancer, even as they shift operations to a U.S. platform. With a pro-forma cash balance of about $226.8 million from June 30, 2025, the 'Price' isn't a list price, but the valuation they are building toward. Dive in below to see how their Product, Place, Promotion, and Price strategies are all geared toward clinical success, not commercial sales, just yet.

I-Mab (IMAB) - Marketing Mix: Product

You're looking at the core offerings of I-Mab as of late 2025; it's a pipeline-heavy portfolio, meaning the product element is entirely focused on clinical assets in development, not commercialized drugs yet. The company's cash position as of June 30, 2025, was $165.6 million in cash and cash equivalents, which, after an August 2025 underwritten offering netting approximately $61.2 million, resulted in a pro-forma balance of about $226.8 million. That liquidity is expected to fund operating expenses and capital expenditures through the fourth quarter of 2028, which supports the ongoing clinical work. Research and Development expenses for the three months ended June 30, 2025, were $3.3 million, down from $5.2 million for the same period in 2024, reflecting streamlined clinical pipeline activities. I-Mab is also transitioning its name, pending an Extraordinary General Meeting approval on October 24, 2025, to NovaBridge Biosciences.

Givastomig (TJ033721 / ABL111) is the lead asset, a Claudin 18.2 (CLDN18.2) x 4-1BB bispecific antibody targeting first-line metastatic gastric cancers, with potential use in other solid tumors. In Phase 1 trials as a monotherapy in heavily pre-treated gastroesophageal carcinoma (GEC) patients, it showed an overall response rate (ORR) of 16.3% at doses up to 18 mg/kg Q3W. The combination study with nivolumab plus chemotherapy in first-line GEC patients saw the dose escalation cohort (n = 17) fully enrolled with no MTD (Maximum Tolerated Dose) reached. Data from this combination study, which has an expansion cohort of 40 patients across two dose levels (8 mg/kg and 12 mg/kg), showed an 83% ORR at the selected doses, with topline results from the expansion study expected in the first quarter of 2026. I-Mab shares worldwide rights for Givastomig equally with ABL Bio, excluding Greater China and South Korea.

The product focus is clearly on precision immuno-oncology agents. Here's a quick look at the key clinical programs as of late 2025:

The development strategy is highly concentrated, reflecting a resource prioritization decision made early in 2025. You can see the focus in the pipeline structure:

• Lead asset is Givastomig (CLDN18.2 x 4-1BB bispecific) for gastric cancer.
• Pipeline is focused on precision immuno-oncology agents for cancer treatment.
• Recently added VIS-101 (VEGF-A/ANG2 biologic) for ophthalmic diseases via pending acquisition.
• All core assets are in clinical development; no commercialized drugs in late 2025.
• Other key clinical programs include Ragistomig and Uliledlimab, with 2026 updates expected.

Regarding the other pipeline assets, VIS-101 is a bifunctional biologic targeting VEGF-A and ANG2, intended for ophthalmic diseases like wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME), and its addition is contingent on a pending acquisition. Ragistomig is a bispecific antibody integrating PD-L1 as a tumor engager and 4-1BB as a conditional T cell activator, being developed in collaboration with ABL Bio for solid tumors. Uliledlimab, an antibody targeting CD73, has had its development paused to focus resources on Givastomig, though an ongoing China-only randomized study with partner TJ Biopharma evaluating it with toripalimab in CD73-high NSCLC patients is allowing data to mature, which may influence future development decisions.

I-Mab (IMAB) - Marketing Mix: Place

You're looking at the distribution strategy for I-Mab, which, as of late 2025, is rapidly evolving under its new identity, NovaBridge Biosciences. The 'Place' strategy here isn't about retail shelf space; it's about the physical and legal pathways for clinical assets and the global footprint for future commercialization.

The company completed a major structural change in October 2025, rebranding from I-Mab to NovaBridge Biosciences, with the new ticker symbol NBP trading on Nasdaq effective October 30, 2025, replacing IMAB. This was cemented by shareholder approval on October 24, 2025, reflecting a strategic transformation to a U.S.-based global biotech platform, planning for a dual listing on Nasdaq and the Hong Kong Stock Exchange (HKEX).

The current operational 'Place' is centered on U.S. clinical development and market access, which is a shift from its prior China-centric clinical-stage focus. This new structure supports a hub-and-spoke business model, designed to utilize China's high-efficiency discovery and clinical resources while leveraging U.S. capabilities for later-stage development and market penetration.

The distribution model is presently defined by the clinical supply chain, supporting ongoing trials, rather than established commercial sales channels. This involves complex logistics for investigational products. For instance, the company is advancing its lead asset, givastomig, with plans to initiate a global randomized Phase 2 study in Q1 2026.

To secure key assets for its U.S.-centric pipeline, NovaBridge Biosciences recently executed an acquisition. The purchase of Bridge Health to strengthen upstream intellectual property for givastomig involved an upfront payment of $1.8 million, with non-contingent payments totaling $1.2 million through 2027, and potential milestones up to $3.875 million.

The global partnership structure dictates the physical and legal 'Place' for key assets:

• Givastomig is jointly developed with ABL Bio, with I-Mab sharing worldwide rights equally, excluding Greater China and South Korea.
• Ragistomig development is also a collaboration with ABL Bio, where ABL Bio leads, sharing worldwide rights equally, excluding China and South Korea.
• The company formed a new subsidiary, Visara, Inc., to focus on ophthalmic therapeutics, which acquired VIS-101.

China's role in the innovation 'Place' remains significant, as the hub-and-spoke model is designed to capitalize on its rising R&D output. In 2024, the total clinical trial out-licensing deal value in China reached $94 billion. Furthermore, Chinese biotechs accounted for 32% of global licensing deal value in Q1 2025, a significant increase from 21% in 2024. Since 2022, these companies developed 639 first-in-class drug candidates, a 360% increase from the 137 candidates developed between 2018 and 2021.

To provide context on the scale of the current clinical supply chain focus, here is relevant market data for late 2025:

The operational focus on clinical supply means that logistics must support complex requirements. For instance, the objective response rate (ORR) for givastomig in Phase 1b dose expansion cohorts reached 83% at the doses selected for expansion. The next major distribution milestone is expected in Q1 2026 with the first patient dosing in the Phase 2 study.

Finance: draft 13-week cash view by Friday.

I-Mab (IMAB) - Marketing Mix: Promotion

Promotion for I-Mab centers heavily on the scientific validation of its pipeline assets, which is the primary driver for investor and key opinion leader engagement. The core promotional activity involves the scientific communication of clinical data at major international medical congresses.

A key highlight driving recent promotional messaging was the presentation of compelling Phase 1b data for givastomig at the European Society for Medical Oncology Gastrointestinal Cancers Congress 2025 (ESMO GI 2025) in July 2025. This data specifically showcased a confirmed objective response rate (ORR) of 83% (10/12) in patients treated at the doses selected for the ongoing dose expansion study (8 mg/kg and 12 mg/kg) for first-line gastric cancer when givastomig was combined with nivolumab and mFOLFOX6. The company followed this with a virtual investor event on July 8, 2025, to review these findings.

Investor relations activity was robust in late 2025, supporting the corporate narrative shift. Management participated in one-on-one meetings at the Cantor Global Healthcare Conference between September 3-5, 2025, and delivered a company presentation at the H.C. Wainwright 27th Annual Global Investment Conference on September 10, 2025, at 9:30 AM ET. This consistent engagement is designed to communicate strategic direction directly to the financial community.

The overarching corporate messaging emphasizes a strategic transformation and the resulting financial stability. This stability is underpinned by a successful underwritten offering in August 2025, which raised net proceeds of $61.2 million. This capital infusion extended the company's cash runway through Q4 2028, with a pro-forma cash balance reported as $226.8 million as of June 30, 2025. This financial runway is positioned as sufficient to fund operations, including the planned randomized Phase 2 trial for givastomig.

Further expanding capital access and global presence, I-Mab announced in October 2025 its intention to pursue a Hong Kong Initial Public Offering (IPO) for a dual listing on the Hong Kong Stock Exchange (HKEX), alongside its existing NASDAQ listing. This move is subject to shareholder approval, expected at the Extraordinary General Meeting on October 24, 2025. The company also announced its intention to rebrand as NovaBridge Biosciences as part of this strategic shift.

Here are the key promotional and financial data points supporting the current narrative:

The promotional focus utilizes these concrete achievements to build confidence in the company's near-term clinical milestones and long-term financial viability. You can see the specific investor engagement schedule below:

• Cantor Global Healthcare Conference: September 3-5, 2025 (One-on-one meetings)
• H.C. Wainwright Conference Presentation: September 10, 2025
• Extraordinary General Meeting (EGM) for Rebrand/IPO: October 24, 2025

Finance: draft 13-week cash view by Friday.

I-Mab (IMAB) - Marketing Mix: Price

You're looking at the pricing structure for I-Mab (IMAB) as of late 2025, and honestly, it's less about sticker price and more about runway and potential valuation. Since I-Mab is deep in the clinical development phase, the pricing element of the marketing mix is currently dominated by capital-raising activities and the projected value of future assets, not current product sales.

Here's the quick math on the current financial state influencing this strategy. The company reported no commercial drug revenue from its lead assets in the first half of 2025. This lack of product revenue means pricing strategy is defintely focused elsewhere, specifically on maintaining liquidity to hit key clinical milestones.

Financially, I-Mab (IMAB) reported a net loss for the six months ended June 30, 2025, amounting to \$8.7 million. This ongoing operational burn rate is what dictates the urgency around capital valuation.

The current pricing strategy is centered on capital valuation, not establishing a product list price for any commercial offering yet. This is typical for a clinical-stage biotech whose value is tied to pipeline progression, like the expected data for givastomig by the end of 2027.

To support this, the balance sheet was strengthened. The pro-forma cash balance as of June 30, 2025, was approximately \$226.8 million. This figure, combined with the net proceeds from the August 2025 underwritten offering, is intended to fund operations through the fourth quarter of 2028.

Looking ahead, the expected pricing for future oncology products, based on their breakthrough potential, is projected to be premium. This potential range is estimated to fall between \$50,000 - \$150,000 per course of treatment.

You can see the key financial figures that frame this pricing environment:

The focus on capital structure is evident in the recent equity raise. I-Mab priced an underwritten offering in August 2025, selling 33,333,334 American Depositary Shares (ADSs) at \$1.95 per ADS, generating gross proceeds of about \$65 million. The net proceeds were earmarked for clinical development.

The elements driving the perceived value-and thus the future price-are tied to pipeline milestones:

• Givastomig (bispecific antibody) Phase 2 trial funding.
• Targeting clinically meaningful progression-free survival (PFS) data by end of 2027.
• Focus on precision immuno-oncology agents.
• Zero revenue generation in the first half of 2025.

To be fair, the current financial reality is one of pre-commercial operations. The company's liquidity position, bolstered by the recent offering, is the most critical 'price' factor right now, ensuring the pipeline can advance toward a point where product pricing becomes the primary focus.