Imara Raises $50M In Equity Funding To Support Development Of Sickle Cell Treatment Candidate

Imara Inc IMRA has priced its previously announced underwritten public offering of shares at $6.00 per share for gross proceeds of $50 million.
The offering will close by July 16.
Underwriters have an option to purchase up to $7.5 million of additional shares.
Morgan Stanley, SVB Leerink, and Cantor are acting as joint book-running managers for the offering.
Proceeds will be used to advance IMR-687 for sickle cell disease and beta-thalassemia and working capital and other general corporate purposes.
In June, IMR-687 data was presented at the EHA Congress, wherein final data from the 93-patient Phase 2a trial showed a lower annualized rate of vaso-occlusive crises (VOCs) and longer time to first VOC on IMR-687.
In March, data monitoring committees endorsed the opening of higher dose IMR-687 treatment arms in ongoing Phase 2b trials after reviewing safety and tolerability data at lower doses.
See the offering prospectus here.
Price Action: IMRA shares closed at $7.09 on Tuesday.