BOSTON, March 11, 2020 (GLOBE NEWSWIRE) -- IMARA Inc. (Nasdaq: IMRA), a clinical-stage biopharmaceutical company dedicated to developing and commercializing novel therapeutics to treat patients suffering from rare inherited genetic disorders of hemoglobin, known as hemoglobinopathies, announced the pricing of its initial public offering of 4,700,000 shares of common stock at a public offering price of $16.00 per share, for gross proceeds of $75.2 million, before underwriting discounts and commissions and offering expenses payable by the Company. The offering is expected to close on March 16, 2020, subject to customary closing conditions. In addition, the Company has granted the underwriters an option for a period of 30 days to purchase up to 705,000 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions. All shares are being offered by the Company.

The Company’s common stock is expected 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.

About IMARA

IMARA is a clinical-stage biopharmaceutical company dedicated to developing and commercializing novel therapeutics to treat patients suffering from rare inherited genetic disorders of hemoglobin, known as hemoglobinopathies.