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IMARA Prices IPO At $16/Shr, At Low End Of Expected Range

IMARA Inc. announced the pricing of initial public offering of 4.7 million shares of common stock at $16.00 per share, the low end of the expected range. The company expects to close the offering on March 16, 2020.

Imara is a clinical-stage biopharmaceutical company developing novel therapeutics to treat patients with rare inherited genetic disorders of hemoglobin, known as hemoglobinopathies.

In addition, the Company has granted the underwriters an option for 30 days to purchase up to 705,000 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions.

The company's common stock to begin trading on the Nasdaq Global Select Market under the ticker symbol "IMRA" on March 12, 2020.

Morgan Stanley, Citigroup and SVB Leerink are acting as joint book-running managers for the offering.

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