An investigation on behalf of investors of IMARA Inc. (NASDAQ: IMRA) shares over potential securities laws violations by IMARA Inc. and certain of its directors and officers in connection with certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of IMARA Inc. (NASDAQ: IMRA) concerning whether a series of statements by IMARA Inc. its business, its prospects and its operations were materially false and misleading at the time they were made.
Boston, MA based IMARA Inc., a clinical-stage biopharmaceutical company, develops and commercializes therapeutics for patients with rare genetic disorders of hemoglobin. On or around March 11, 2020, IMARA Inc. (NASDAQ: IMRA) conducted its initial public offering ("IPO"), selling 4,700,000 shares of common stock priced at $16.00 per share.
On March 5, 2021, IMARA Inc. reported its financial results for the year ended December 31, 2020, which included a net loss of $49.2 million, compared to a net loss of $23.5 million for the prior year.
Shares of IMARA Inc. (NASDAQ: IMRA) declined to as low as $8.49 per share on March 5, 2021.