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Convertible Promissory Notes And Onshore Convertible Loans- Additional Information (Detail) $ / shares in Units, ¥ in Thousands, $ in Thousands	Feb. 03, 2018 CNY (¥)	Dec. 17, 2020 $ / shares shares	Feb. 10, 2020 $ / shares	Feb. 03, 2018 USD ($) $ / shares	Oct. 31, 2016 $ / shares
Debt Conversion [Line Items]
Share Price			$ 14.00		$ 0.77
2018 Notes [Member] \| Genexine Inc [Member]
Debt Conversion [Line Items]
Share Price		$ 10
Shares issued \| shares		900,000
2018 Notes [Member] \| Series A-3 Preferred Shares [Member]
Debt Conversion [Line Items]
Convertible promissory notes issued to Investors \| ¥	¥ 59,704
Convertible Promissory Notes 2018 [Member] \| Series B-1 Preferred Shares [Member]
Debt Conversion [Line Items]
Conversion price of debt instrument				$ 10
Convertible Promissory Notes 2018 [Member] \| Series A-3 Preferred Shares [Member]
Debt Conversion [Line Items]
Maturity period of debt instrument	36 months
Convertible notes issued \| $				$ 9,000
Interest Rate				0.00%
Share Price				$ 3.96

Principal Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Basis of presentation

2.1 Basis of presentation

The accompanying consolidated financial statements of the Group have been prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Significant accounting policies followed by the Group in the preparation of the accompanying consolidated financial statements are summarized below.

Basis of consolidation

2.2 Basis of consolidation

The accompanying consolidated financial statements reflect the accounts of the Company and all of its subsidiaries in which a controlling interest is maintained. All inter-company balances and transactions have been eliminated in consolidation.

The Group consolidates entities in which it has a controlling financial interest based on either the variable interest entity (VIE) or voting interest model. The Group is required to first apply the VIE model to determine whether it holds a variable interest in an entity, and if so, whether the entity is a VIE. If the Group determines it does not hold a variable interest in a VIE, it then applies the voting interest model. Under the voting interest model, the Group consolidates an entity when it holds a majority voting interest in an entity.

The Company accounts for investments in which it has significant influence but not a controlling financial interest using the equity method of accounting (see Note 10).

VIE Model

An entity is considered to be a VIE if any of the following conditions exist: (a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support, (b) the holders of the equity investment at risk, as a group, lack either the direct or indirect ability through voting rights or similar rights to make decisions that have a significant effect on the success of the entity or the obligation to absorb the entity’s expected losses or right to receive the entity’s expected residual returns, or (c) the voting rights of some equity investors are disproportionate to their obligation to absorb losses of the entity, their rights to receive returns from an entity, or both and substantially all of the entity’s activities either involve or are conducted on behalf of an investor with disproportionately few voting rights.

Under the VIE model, limited partnerships are considered VIE unless the limited partners hold substantive

kick-out

or participating rights over the general partner. The Group consolidates entities that are VIEs when the Group determines it is the primary beneficiary. Generally, the primary beneficiary of a VIE is a reporting entity that has (a) the power to direct the activities that most significantly affect the VIE’s economic performance, and (b) the obligation to absorb losses of, or the right to receive benefits from, the VIE that could potentially be significant to the VIE.

As of December 31, 2021, the Group determined that the one entity subject to the consolidation guidance is a VIE for which the Group is not the primary beneficiary.

Use of Estimates

2.3 Use of estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are used when accounting for amounts recorded in connection with acquisitions, including initial fair value determinations of assets and liabilities and other intangible assets as well as subsequent fair value measurements. Additionally, estimates are used in determining items such as fair value measurements of short-term investments, warrants and put right liabilities, impairment of accounts receivables, contract assets, other receivables, long-lived assets, intangible assets and goodwill, useful lives of property, equipment and software, recognition of

right-of-use

assets and lease liabilities, variable consideration in collaboration revenue arrangements, determination of the standalone selling price of each performance obligation in the Company’s revenue arrangements, valuation of share-based compensation arrangements, deferred tax assets valuation allowances and provision for ongoing litigation. Management bases the estimates on historical experience, known trends and various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates.

Fair Value Measurements

2.4 Fair value measurements

Financial assets and liabilities of the Group primarily comprise of cash and cash equivalents, restricted cash, short-term investments, accounts
receivable, contract assets, other receivables, short-term borrowings, accruals and other payables, and put right liabilities. As of December 31, 2020 and 2021, except for short-term investments and put right liabilities, the carrying values of these financial assets and liabilities approximated their fair values because of their generally short maturities. The Group reports short-term investments and put right liabilities at fair value at each balance sheet date and changes in fair value are reflected in the consolidated statements of comprehensive income (loss).

The Group measures its financial assets and liabilities using inputs from the following three levels of the fair value hierarchy. The three levels are as follows:

Level 1 inputs are unadjusted quoted prices in active markets for identical assets that the management has the ability to access at the measurement date.

Level 2 inputs include quoted prices for similar assets in active markets, quoted prices for identical or similar assets in markets that are not active, inputs other than quoted prices that are observable for the asset (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs).

Level 3 includes unobservable inputs that reflect the management’s assumptions about the assumptions that market participants would use in pricing the asset. The management develops these inputs based on the best information available, including the own data.

Assets and liabilities measured at fair value on a recurring basis

The Group measures its short-term investments and put right liabilities at fair value on a recurring basis. As the Group’s short-term investments and put right liabilities are not traded in an active market with readily observable prices, the Group uses significant unobservable inputs to measure the fair value of short-term investments and put right liabilities. These instruments are categorized in the Level 3 valuation hierarchy based on the significance of unobservable factors in the overall fair value measurement.

The following table summarizes the Group’s financial assets and liabilities measured and recorded at fair value on a recurring basis as of December 31, 2020 and 2021:

As of December 31, 2020

Active market

Observable input

Non-

observable input

(Level 1)

(Level 2)

(Level 3)

Total

RMB

Assets:

Short-term investments

—

31,530

Liabilities

Put right liabilities

—

116,006

As of December 31, 2021

Active market
(Level 1)

Observable input
(Level 2)

Non-

observable input
(Level 3)

Total

RMB

Assets:

Short-term investments

—

753,164

Liabilities

Put right liabilities

—

96,911

The roll forward of major Level 3 financial assets and financial liabilities are as follows:


	Short-term investments			Put right liabilities
Fair value of Level 3 financial assets and liabilities as of December 31, 2019		32,000			—
Purchase of short-term investments		2,491,991			—
Disposal of short-term investments		(2,503,749	)		—
Grant of put right liabilities		—			124,321
Fair value changes		11,288			(3,024	)
Currency translation differences		—			(5,291	)

Fair value of Level 3 financial assets and liabilities as of December 31, 2020		31,530			116,006

Purchase of short-term investments		10,173,314			—
Disposal of short-term investments		(9,482,040	)		—
Fair value changes		30,360			(16,628	)
Currency translation differences		—			(2,467	)

Fair value of Level 3 financial assets and liabilities as of December 31, 2021		753,164			96,911

See Note 10 for additional information about Level 3 put right liabilities measured at f

ir value on a recurring basis for the year ended December 31, 2020 and 2021.

Foreign currency translation

2.5 Foreign currency translation

The Group uses Chinese Renminbi (“RMB”) as its reporting currency. The United States Dollar (“US$”) is the functional currency of the Group’s entities incorporated in the Cayman Islands, the United States of America (“U.S.”) and Hong Kong, and the RMB is the functional currency of the Company’s PRC subsidiaries.

Transactions denominated in other than the functional currencies are translated into the functional currency of the entity at the exchange rates prevailing on the transaction dates. Assets and liabilities denominated in other than the functional currencies are translated at the balance sheet date exchange rate. The resulting exchange differences are recorded in the consolidated statements of comprehensive income (loss).

The consolidated financial statements of the Group are translated from the functional currency to the reporting currency, RMB. Assets and liabilities of the subsidiaries are translated into RMB using the exchange rate in effect at each balance sheet date. Income and expenses are translated at the average exchange rates prevailing for the year. Foreign currency translation adjustments arising from these are reflected in the accumulated other comprehensive income (loss). The exchange rates used for translation on December 31, 2020 and 2021 were US$1.00 = RMB6.5249 and RMB6.3757 respectively, representing the index rates stipulated by the People’s Bank of China.

Translations of balances in the consolidated balance sheets, consolidated statements of comprehensive income (loss), consolidated statements of changes in shareholders’ equity (deficit) and consolidated statements of cash flows from RMB into US$ as of and for the year ended December 31, 2021 are solely for the convenience of the readers and were calculated at the rate of US$1.00=RMB6.3726, representing the noon buying rate in The City of New York for cable transfers of RMB as certified for customs purposes by the Federal Reserve Bank of New York on December 3

, 2021. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on December 31, 2021, or at any other rate. The US$ convenience translation is not required under U.S. GAAP and all US$ convenience translation amounts in the accompanying consolidated financial statements are unaudited.

Cash and cash equivalents

2.6 Cash and cash equivalents

Cash and cash equivalents consist of cash on hand and bank deposits, which are unrestricted as to withdrawal and use. The Group considers all highly liquid investments with an original maturity date of three months or less at the date of purchase to be cash equivalents.

Accounts receivable

2.7 Accounts receivable

Accounts receivable are stated at amortized cost less allowance for credit losses. The allowance for credit losses reflects the best estimate of future losses over the contractual life of outstanding accounts receivable and is determined on the basis of historical experience, specific allowances for known troubled accounts, other currently available information including customer financial condition, and both current and forecasted economic conditions.

Short-term investments

2.8 Short-term investments

Short-term investments represent the investments issued by commercial banks or other financial institutions with a variable interest rate indexed to the performance of underlying assets within one year. These investments are stated at fair value. Changes in the fair value are reflected in the consolidated statements of comprehensive income (loss).

Inventories

2.9 Inventories

Prior to the regulatory approval of product candidates, the Company may incur expenses for the manufacture of drug product to support the commercial launch of those products. Until the date at which regulatory approval has been received or is otherwise considered probable, all such costs are recorded as research and development expenses as incurred.

Investigational products for external supply are capitalized as inventories with probable future economic benefit. Inventories are stated at the lower of cost and net realizable value, with cost determined in a manner that approximates the first-in, first-out method. The Company periodically analyzes its inventory levels, and writes down inventory that has become obsolete, inventory that has a cost basis in excess of its estimated realizable value and inventory in excess of expected sales requirements as cost of product sales. The determination of whether inventory costs will be realizable requires estimates by management. If actual market conditions are less favorable than projected by management, additional write-downs of inventory may be required, which would be recorded in the consolidated statements of comprehensive income (loss).

Property, equipment and software

2.10 Property, equipment and software

Property, equipment and software are stated at cost less accumulated depreciation and amortization. Depreciation and amortization is computed using the straight-line method over the following estimated useful lives, taking into account of any estimated residual value:

Laboratory equipment		3 to 10 years
Software		1 to 5 years
Office furniture and equipment		5 years
Leasehold improvements		Lesser of useful life or lease term

The Group recognizes the gain or loss on the disposal of property, equipment and software in the consolidated statements of comprehensive income (loss).

Intangible assets

2.1

Intangible assets

Intangible assets acquired in a business combination that are used in research and development activities, or

in-process

research and development (IPR&D) intangible assets, are considered indefinite lived until the completion or abandonment of the associated research and development efforts. During the period that those assets are considered indefinite lived, they are not amortized but are tested for impairment annually and more frequently if events or changes in circumstances indicate that it is more likely than not that the asset is impaired. If after assessing the totality of events and circumstances and their potential effect on significant inputs to the fair value determination the Group determines that it is not more likely than not that the indefinite-lived intangible is impaired, then the entity shall calculate the fair value of the intangible asset and perform the quantitative impairment test by comparing the fair value of the asset with its carrying amount. If the carrying amount exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. For IPR&D assets, the impairment loss is recognized in research and development expenses in the consolidated statements of comprehensive income (loss).

Intangible assets with finite useful lives are amortized over their useful lives. The useful life of an intangible asset is the period over which the asset is expected to contribute directly or indirectly to the future cash flows of the Group. The Group uses the straight-line amortization method when the economic benefits of the intangible assets are consumed or otherwise used up cannot be reliably determined. In particular, the Group amortizes the

contract related intangible assets with finite useful lives over 10 to 20 years on a straight-line basis in accordance with the economic life of the out-licensed patent. Intangible assets subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an intangible asset may not be recoverable. If circumstances require an intangible asset be tested for possible impairment, the Group first compares undiscounted cash flows expected to be generated by that asset to its carrying amount. If the carrying amount is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying amount exceeds its fair value. For intangible assets with finite useful life, the impairment loss is recognized in cost of revenues in the consolidated statements of comprehensive income (loss).

Impairment of long-lived assets

2.1

Impairment of long-lived assets

Long-lived assets, such as property, plant, and software, and intangible assets subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying amount. If the carrying amount of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying amount exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. For the years ended December 31, 2019, 2020 and 2021, there was no impairment of the value of the Group’s long-lived assets.

Goodwill

2.13 Goodwill

Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. The Group allocates the cost of an acquired entity to the assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. The excess of the purchase price for acquisitions over the fair value of the net assets acquired, including other intangible assets, is recorded as goodwill. Goodwill is not amortized, but impairment of goodwill is tested on at least an annual basis or whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable.

The Group first assesses qualitative factors to determine whether it is more likely than not that the fair value of the Group’s reporting unit is less than its carrying amount, including goodwill. The qualitative assessment includes the Group’s evaluation of relevant events and circumstances affecting the Group’s single reporting unit, including macroeconomic, industry, market conditions and the Group’s overall financial performance. If qualitative factors indicate that it is more likely than not that the Group’s reporting unit’s fair value is less than its carrying amount, then the Group will perform the quantitative impairment test by comparing the reporting unit’s carrying amount, including goodwill, to its fair value. If the carrying amount of the reporting unit exceeds its fair value, an impairment loss will be recognized in an amount equal to that excess. For the years ended December 31, 2019, 2020 and 2021, the Group determined that there were no indicators of impairment of the goodwill.

Long Term Investments

2.1

Long-term investments

The Group’s long-term investments include equity investments in an affiliate in which it does not have a controlling financial interest, but has the ability to exercise significant influence over the operating and financial policies of the investee. The investment is accounted for using the equity method of accounting in accordance with ASC topic 323, Investments—Equity Method and Joint Ventures (“ASC 323”). Under the equity method, the Group initially records its investments at fair value. The Group subsequently adjusts the carrying amount of the investment to recognize the Group’s proportionate share of the equity investee’s net income or loss after the date of investment. When the liquidation rights and priorities as defined by an equity investment agreement differ from what is reflected by the underlying percentage ownership interests, applying the percentage ownership interest to U.S. GAAP net income in order to determine earnings or losses does not accurately represent the income allocation and cash flow distributions that will ultimately be received by the investors. As such, for this type of investments, the Group uses the Hypothetical Liquidation at Book Value (“HLBV”) method for allocating earnings or losses of the equity method investee. The HLBV method is considered as a balance sheet approach. Specifically, a calculation is prepared at each balance sheet date to determine the amount that the Group would receive if an equity investment entity were to liquidate all of its assets (as valued in accordance with U.S. GAAP) and distribute that cash to the investors based on the contractually defined liquidation priorities. The difference between the calculated liquidation distribution amounts at the beginning and the end of the reporting period, after adjusting for capital contributions and distributions, is the Group’s share of the earnings or losses from the equity investment for the period.

As it relates to the share-based compensation awarded by an equity method investee to its own employees, the Group recognizes its proportionate share of the compensation expense over the vesting period, included in the equity in loss of affiliate in the consolidated statements of comprehensive income (loss). As it relates to the share-based compensation awarded by the Group to the equity method investee employees that are based on the Group’s stock, when the other investors do not provide proportionate value to the investee or the Group does not receive any consideration, the Group expenses the entire cost associated with the award in the same period the costs are recognized by the investee, to the extent that the Group’s claim on the investee’s book value has not been increased. The expenses recognized by the Group is included in the equity in loss of affiliate in the consolidated statements of comprehensive income (loss).

The Group evaluates the equity method investment for impairment under ASC 323. An impairment loss on the equity method investments is recognized in losses when the decline in value is determined to be other-than-temporary. No impairment charge was recognized for the years ended December 31, 2019, 2020 and 2021.

Deferred subsidy income

2.1

Deferred subsidy income

Deferred subsidy income consists of deferred income from government grants. Government grants mainly consist of cash subsidies received by the Group’s subsidiaries in the PRC from local governments as support on expenses relating to certain projects. Grants received with government specified performance obligations are recognized as other income when all the obligations have been satisfied. If such obligations are not satisfied, the Group may be required to refund the subsidy. The Group recorded cash grants of RMB7,509 and nil and in deferred subsidy income as of December 31, 2020 and 2021 respectively.

Revenue recognition

2.1

Revenue recognition

The Group adopted Accounting Standard Codification (“ASC”) 606,

Revenue from Contracts with Customers

(Topic 606) (“ASC 606”) for all periods presented. Consistent with the criteria of Topic 606, the Group recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to receive in exchange for those goods or services.

Under ASC 606, an entity recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration that the entity expects to receive in exchange for those goods or services. An the entity performs the following five steps to account for the arrangements that an entity determines are within the scope of ASC 606: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price, including variable consideration, if any; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation.

Once a contract is determined to be within the scope of ASC 606 at contract inception, the Group audits the contract to determine which performance obligations it must deliver and which of these performance obligations are distinct. The Group recognizes as revenue the amount of the transaction price that is allocated to each performance obligation when that performance obligation is satisfied or as it is satisfied.

Collaboration revenue

At contract inception, we analyze its collaboration arrangements to assess whether they are within the scope of ASC 808, Collaborative Arrangements (“ASC 808”) to determine whether such arrangements involve joint operating activities performed by parties that are both active participants in the activities and exposed to significant risks and rewards dependent on the commercial success of such activities. For collaboration arrangements within the scope of ASC 808 that contain multiple elements, we first determine if the collaboration is deemed to be within the scope of ASC 808. For any units of account that are reflective of a vendor-customer relationship those units of account are accounted for within the scope of ASC 606. For any units of account that are not accounted for under ASC 606 and therefore accounted for pursuant to ASC 808, an appropriate recognition method is determined and applied consistently.

The Group’s collaborative arrangements may contain more than one unit of account, or performance obligation, such as grant of licenses of intellectual property rights, promises to provide research and development services and other deliverables. The collaborative arrangements do not include a right of return for any deliverable. When multiple units of account or performance obligations are identified within the arrangements, the Group must develop assumptions that require judgment to determine the stand-alone selling price for each performance obligation identified in the contract. In developing the stand-alone selling price for a performance obligation, the Group considers competitor pricing for a similar or identical product, market awareness of and perception of the product, expected product life and current market trends. In general, the consideration allocated to each performance obligation is recognized when the respective obligation is satisfied either by delivering a good or providing a service, limited to the consideration that is not constrained.

Licenses of Intellectual Property:

Upfront

non-refundable

payments for licensing the Group’s intellectual property are evaluated to determine if the license is distinct from the other performance obligations identified in the arrangement. For the license that is determined to be distinct, the Group recognizes revenues in the amount of

non-refundable,

up-front

fees allocated to the license at a point in time, upon which the license is transferred to the licensee and the licensee is able to use and benefit from the license.

Research and Development Services:

The portion of the transaction price allocated to research and development services performance obligations is deferred and recognized as revenue over time as delivery or performance of such services provided to the Group’s customers occurs.

Milestone Payments

: At the inception of each arrangement that includes development, commercialization, and regulatory milestone payments, the Group evaluates whether the milestones are considered probable of being reached and to the extent that a significant reversal of cumulative revenue would not occur in future periods, estimates the amount to be included in the transaction price using the most likely amount method. The transaction price is then allocated to each performance obligation on a relative stand-alone selling price basis, for which the Group recognizes revenue as or when the performance obligations under the contract are satisfied. At the end of each subsequent reporting period, the Group

re-evaluates

the probability of achieving such development milestones and any related constraint, and if necessary, adjust the estimate of the overall transaction price. Any resulting adjustment is recorded on a cumulative

catch-up

basis, which would affect the Group’s reported revenues and earnings in the period of the adjustment.

Royalties

: For arrangements that include sales-based royalties, including milestone payments based on the level of sales, and the license is deemed to be the predominant item to which the sales-based royalties or milestone payments relate, the Group recognizes revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied).

Supply of investigational products

Revenue from supply of investigational products is recognized when there is a transfer of control from the Group to the customer. The Group determines transfer of control based on when the product is delivered, and title passed to the customer. Sales are generally made with a limited right of return under certain conditions. Revenues are recorded net of provisions for sales discounts and returns.

Contract assets and liabilities

Contract assets primarily represent revenue earnings over time that are not yet billable based on the terms of the contracts. The Group does not have impairment losses associated with contracts with customers for the years ended December

31, 2019,

2020 and 2021.

Contract liabilities consist of fees invoiced or paid by the Group’s customers for which the associated performance obligations have not been satisfied and revenue has not been recognized based on the Group’s revenue recognition criteria described above.

Contract assets and contract liabilities are reported in a net position on an individual contract basis at the end of each reporting period. Contract assets are classified as current in the consolidated balance sheet when the Group expects to complete the related performance obligations and invoice the customers within one year of the balance sheet date, and as long-term when the Group expects to complete the related performance obligations and invoice the customers more than one year out from the balance sheet date. Contract liabilities are classified as current in the consolidated balance sheet when the revenue recognition associated with the related customer payments and invoicing is expected to occur within one year of the balance sheet date and as long-term when the revenue recognition associated with the related customer payments and invoicing is expected to occur in more than one year from the balance sheet date.

Cost-to-cost measure of progress for over time performance obligations

Under the Group’s certain licensing and collaboration arrangement entered into with a business partner, the Group recognized revenue using the cost-to-cost measure of progress for its over time performance obligations as this recognition best depicts the transfer of benefits to its business partner as costs are incurred under the licensing and collaboration arrangement. Under the cost-to-cost measure of progress method, the extent of progress towards completion is measured based on the ratio of costs incurred to-date to the total estimated costs for completion of the performance obligations. The Group applied significant judgment in estimating the total estimated costs for completion of performance obligations under such licensing and collaboration arrangement.

Value-added-tax ("VAT") recoverable and surcharges

2.1

Value-added-tax

(“VAT”) recoverable and surcharges

Value added tax recoverable represent amounts paid by the Group for purchases. The surcharges (i.e., Urban construction and maintenance tax, educational surtax, local educational surtax), vary from 6% to 12% of

the value-added-tax depending

the tax-payer’s location.

The deductible input VAT balance is included in the prepayments and other receivables in the consolidated balance sheets, and VAT payable balance is recorded in the accruals and other payables in the consolidated balance sheets.

Research and development expenses

2.1

Research and development expenses

Elements of research and development expenses primarily include (1) payroll and other related expenses of personnel engaged in research and development activities,

(2) in-licensed

patent rights fee of exclusive development rights of drugs granted to the Group, (3) expenses related to preclinical testing of the Group’s technologies under development and clinical trials such as payments to contract research organizations (“CRO”), investigators and clinical trial sites that conduct the clinical studies, (4) expenses to develop the product candidates, including raw materials and supplies, product testing, depreciation, and facility related expenses, and (5) other research and development expenses. Research and development expenses are charged to expenses as incurred when these expenditures are used for the Group’s research and development activities and have no alternative future uses.

The Group applied significant judgment in estimating the progress of its research and development activities and completion of or likelihood of achieving milestone events per underlying agreements when estimating the research and development costs to be accrued at each reporting period end. The process of estimating its research and development expenses involves reviewing open contracts and purchase orders, communicating with personnel to identify services that have been performed on its behalf and estimating the level of service performed and the associated costs incurred for the services when the Group has not yet been invoiced or otherwise notified of the actual costs.

The Group has acquired rights to develop and commercialize product candidates. Upfront payments that relate to the acquisition of a new drug compound, as well as

pre-commercial

milestone payments, are immediately expensed as acquired

in-process

research and development in the period in which they are incurred, provided that the new drug compound does not also include processes or activities that would constitute a “business” as defined under U.S. GAAP, the drug has not achieved regulatory approval for marketing and, absent obtaining such approval, has no established alternative future use. Milestone payments made to third parties subsequent to regulatory approval are capitalized as intangible assets and amortized over the estimated remaining useful life of the related product. All development expenditures are recognized in profit or loss when incurred, as long as the conditions enabling capitalization of development expenses as an asset have not yet been met.

Leases

2.1

Leases

In accordance with ASC 842 adopted on January 1, 2019, the Group determines if an arrangement is a lease at inception. Operating leases are included in operating lease

right-of-use

(“ROU”) assets, operating lease liability, and operating lease liability,

non-current

in the Group’s consolidated balance sheets. The Group does not have any finance leases since the adoption date.

ROU assets represent the Group’s right to use an underlying asset for the lease term and lease liabilities represent the Group’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. When determining the lease term, the Group includes options to extend or terminate the lease when it is reasonably certain that it will exercise that option, if any. As the Group’s leases do not provide an implicit rate, the Group uses its incremental borrowing rate, which it calculates based on the credit quality of the Group and by comparing interest rates available in the market for similar borrowings, and adjusting this amount based on the impact of collateral over the term of each lease.

The Group has elected to adopt the following lease policies in conjunction with the adoption of ASU

2016-02:

(i) elect for each lease not to separate

non-lease

components from lease components and instead to account for each separate lease component and the

non-lease

components associated with that lease component as a single lease component; (ii) for leases that have lease terms of 12 months or less and does not include a purchase option that is reasonably certain to exercise, the Group elected not to apply ASC 842 recognition requirements; and (iii) the Group elected to apply the package of practical expedients for existing arrangements entered into prior to January 1, 2019 to not reassess (a) whether an arrangement is or contains a lease, (b) the lease classification applied to existing leases, and (c) initial direct costs.

In connection with the adoption of ASC 842, on January 1, 2019, the Group recorded an impact of RMB13,100 on its assets and RMB11,333 on its liabilities for the recognition of operating lease

right-of-use-assets

and operating lease liabilities, respectively, which are primarily related to the lease of the Group’s offices and warehouses. The adoption of ASC 842 did not have a material impact on the Group’s results of operations or cash flows.

Comprehensive loss

Comprehensive income (loss)

Comprehensive income (loss) is defined as the changes in equity of the Group during a period from transactions and other events and circumstances excluding transactions resulting from investments by owners and distributions to owners. Among other disclosures, ASC 220, Comprehensive Income, requires that all items that are required to be recognized under current accounting standards as components of comprehensive income (loss) be reported in a financial statement that is displayed with the same prominence as other financial statements. For each of the periods presented, the Group’s comprehensive income (loss) includes net income (loss) and foreign currency translation adjustments, which are presented in the consolidated statements of comprehensive income (loss).

Share-based compensation

2.2

Share-based compensation

The Group grants restricted shares and stock options to eligible employees and accounts for share-based compensation in accordance with ASC 718, Compensation—Stock Compensation.

Employees’ share-based compensation awards, if equity-classified, are measured at the grant date fair value of the awards and are recognized as expenses over the requisite period of the award, which is generally the vesting term of share-based payment awards.

A change in any of the terms or conditions of share-based awards is accounted for as a modification of the awards. The Group calculates incremental compensation expense of a modification as the excess of the fair value of the modified awards over the fair value of the original awards immediately before its terms are modified at the modification date. For vested awards, the Group recognizes incremental compensation cost in the period when the modification occurs. For awards not being fully vested, the Group recognizes the sum of the incremental compensation expense and the remaining unrecognized compensation expense for the original awards over the remaining requisite service period after modification.

Share-based compensation in relation to the restricted shares is measured based on the fair market value of the Group’s ordinary shares at the grant date of the award. Prior to the listing, estimation of the fair value of the Group’s ordinary shares involves significant assumptions that might not be observable in the market, and a number of complex and subjective variables, including discount rate, and subjective judgments regarding the Group’s projected financial and operating results, its unique business risks, the liquidity of its ordinary shares and its operating history and prospects at the time the grants are made. Share-based compensation in relation to the share options is estimated using the Binominal Option Pricing Model. The determination of the fair value of share options is affected by the share price of the Group’s ordinary shares as well as the assumptions regarding a number of complex and subjective variables, including the expected share price volatility, risk-free interest rate, exercise multiple and expected dividend yield. In addition, the forfeiture rate is estimated based on an analysis of the Group’s actual forfeitures and the appropriateness of the forfeiture rate will continue to be evaluated based on the actual forfeiture experience, analysis of employee turnover and other factors. The fair value of these awards was determined with the assistance from an independent third-party valuation firm.

Income taxes

2.2

Income taxes

The Group accounts for income taxes under the asset and liability method. Under the asset and liability method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the enacted tax rates that expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded if it is more likely than not that some portion or all of the deferred income tax assets will not be utilized in the foreseeable future.

The Group evaluates its uncertain tax positions using the provisions of ASC

740-10, Income

Taxes, which prescribes a recognition threshold that a tax position is required to meet before being recognized in the financial statements. The Group recognizes in the financial statements the benefit of a tax position which is ‘‘more likely than not’’ to be sustained under examination based solely on the technical merits of the position assuming a review by tax authorities having all relevant information. Tax positions that meet the recognition threshold are measured using a cumulative probability approach, at the largest amount of tax benefit that has a greater than fifty percent likelihood of being realized upon settlement. It is the Group’s policy to recognize interest and penalties related to unrecognized tax benefits, if any, as a component of income tax expense.

Business combination

2.2

Business combination

The Group accounts for its business combinations using the acquisition method of accounting in accordance with ASC topic 805, Business Combinations (“ASC 805”). The acquisition method of accounting requires all of the following steps: (i) identifying the acquirer, (ii) determining the acquisition date, (iii) recognizing and measuring the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the acquiree, and (iv) recognizing and measuring goodwill or a gain from a bargain purchase. The consideration transferred in a business combination is measured as the aggregate of the fair values at the date of exchange of the assets given, liabilities incurred, and equity instruments issued as well as the contingent considerations and all contractual contingencies as of the acquisition date.

The Group allocates the fair value of purchase consideration to the tangible assets acquired, liabilities assumed and intangible assets acquired based on their estimated fair values. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Such valuations require management to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets may include, but are not limited to, future expected cash flows from acquired assets, timing and probability of success of clinical events and regulatory approvals, and assumptions on useful lives of the patents and discount rates. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. Additional information, such as that related to income tax and other contingencies, existing as of the acquisition date but unknown to us may become known during the remainder of the measurement period, not to exceed one year from the acquisition date, which may result in changes to the amounts and allocations recorded.

Acquisitions that do not meet the accounting definition of a business combination are accounted for as asset acquisitions. For transactions determined to be asset acquisitions, the Group allocates the total cost of the acquisition, including transaction costs, to the net assets acquired based on their relative fair values.

Segment information

2.2

Segment information

In accordance with ASC 280, Segment Reporting, the Group’s chief operating decision maker, the Chief Executive Officer, reviews the consolidated results when making decisions about allocating resources and assessing performance of the Group as a whole and hence, the Group has only one reportable segment. The Group does not distinguish between markets or segments for the purpose of internal reporting. As the Group’s long-lived assets are substantially located in and derived from the PRC, no geographical segments are presented.

Income (loss) per share

2.2

Income (loss) per share

Basic income (loss) per share is computed by dividing net income (loss) attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. Diluted income (loss) per share is calculated by dividing net income (loss) attributable to ordinary shareholders by the weighted average number of ordinary and dilutive ordinary equivalent shares outstanding during the period. Ordinary equivalent shares consist of shares issuable upon the conversion of the preferred shares using

the if-converted method,

shares issuable upon the issuance of ordinary shares to be issued to Everest using

the if-converted method,

shares issuable upon the conversion of the convertible promissory notes using

the if-converted method,

shares issuable upon the exercise of share options using the treasury stock method, shares issuable upon the issuance of ordinary shares for restricted shares units using the treasury stock method, and shares issuable upon the exercise of warrants using the treasury stock method. Ordinary equivalent shares are not included in the denominator of the diluted income (loss) per share calculation when inclusion of such shares would be anti-dilutive.

Adopted accounting pronouncements

2.2

Adopted accounting pronouncements

In December 2019, the FASB issued ASU

2019-12 — Income

Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This ASU provides an exception to the general methodology for calculating income taxes in an interim period when a

year-to-date

loss exceeds the anticipated loss for the year. This update also (1) requires an entity to recognize a franchise tax (or similar tax) that is partially based on income as an income-based tax and account for any incremental amount incurred as a

non-income-based

tax, (2) requires an entity to evaluate when a

step-up

in the tax basis of goodwill should be considered part of the business combination in which goodwill was originally recognized for accounting purposes and when it should be considered a separate transaction, and (3) requires that an entity reflect the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date. The Group adopted ASU

No. 2019-12

from January 1, 2021, which did not have a material impact on the Group’s consolidated financial statements.

In January 2020, the FASB issued Accounting Standards Update

No. 2020-01,

Investments — Equity Securities (Topic 321), Investments — Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815. The amendments clarified that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting for the purposes of applying the measurement alternative in accordance with Topic 321 immediately before applying or upon discontinuing the equity method. The amendments also clarified that for the purpose of applying paragraph

815-10-15-141(a)

an entity should not consider whether, upon the settlement of the forward contract or exercise of the purchased option, individually or with existing investments, the underlying securities would be accounted for under the equity method in Topic 323 or the fair value option in accordance with the financial instruments guidance in Topic 825. An entity also would evaluate the remaining characteristics in paragraph

815-10-15-141

to determine the accounting for those forward contracts and purchased options. The Company adopted ASU

No. 2020-01

from January 1, 2021, which did not have a material impact on the Group’s consolidated financial statements.

Recent accounting pronouncements

2.2

Recent accounting pronouncements

In March 2020, the FASB issued ASU

2020-04,

“Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting”, which provides optional expedients and exceptions for applying U.S. GAAP on contract modifications and hedge accounting to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform, if certain criteria are met. These optional expedients and exceptions provided in ASU

2020-04

are effective for the Company as of March 12, 2020 through December 31, 2022. The Company will evaluate transactions or contract modifications occurring as a result of reference rate reform and determine whether to apply the optional guidance on an ongoing basis. The ASU is currently not expected to have a material impact on the Group’s consolidated financial statements.

In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt — Modifications and Extinguishments (Subtopic 470-50), Compensation — Stock Compensation (Topic 718), and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40) to clarify and reduce diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. The amendments in this update are effective for all entities for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. An entity should apply the amendments prospectively to modifications or exchanges occurring on or after the effective date of the amendments. The Group is currently evaluating the impact of ASU 2021-04 on its consolidated financial statements.

In July 2021, the FASB issued ASU

2021-05,

Lessors—Certain Leases with Variable Lease (“ASU

2021-05”).

It requires lessors to classify leases as operating leases if they have variable lease payments that do not depend on an index or rate and would have selling losses if they were classified as sales-type or direct financing leases. The Group will adopt this standard in 2022, and do not expect the adoption of this standard will have a material impact on the Group’s consolidated financial statements.

In October 2021, the FASB issued ASU

2021-08,

Business Combinations (Topic 805) — Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU

2021-08”).

It requires issuers to apply ASC 606 Revenue from Contracts with Customers to recognize and measure contract assets and contract liabilities from contracts with customers acquired in a business combination. ASU

2021-08

is effective for the Company from January 1, 2023, with early adoption permitted. The ASU is currently not expected to have a material impact on the Group’s consolidated financial statements.

Inventories

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Inventories

4. Inventories

Inventories consist of the following:


	As of December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
Investigational products		—		27,237		4,274

In April 2021

the Group entered into a master clinical supply agreement with AbbVie. Inc for the supply of investigational products for use in the clinical trials. For the year ended December 31, 2021, the Group recognized revenue of

RMB47,911 for

the products delivered to AbbVie. Inc. The inventories balance as of December 31, 2021 represented the investigational products that have been produced by the contract manufacturer and transferred control to the Group.

Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)
Cash flows from operating activities
Net income (loss)	¥ (2,331,541)	$ (365,870)	¥ 470,915	¥ (1,451,950)
Adjustments to reconcile net income (loss) to net cash used in operating activities
Depreciation of property, equipment and software	13,776	2,162	12,743	9,831
Amortization of intangible assets	778	122	1,556
Loss on disposal of property, equipment and operating lease right-of-use asset	288	45	8
Fair value change of warrants	0	0	0	(5,644)
Fair value change of put right liabilities	(16,628)	(2,609)	(3,024)
Fair value change of other financial assets				(42)
Equity in loss of affiliates	367,883	57,729	108,587	0
Share-based compensation	608,609	95,504	493,464	366,895
Loss on termination agreement with Everest				23,039
Amortization of right-of use assets and interest of lease liabilities	19,582	3,073	8,837	5,803
Gains on deconsolidation of a subsidiary			(407,598)
Fair value change of short-term investments	(30,360)	(4,764)	(11,288)	(703)
Changes in operating assets and liabilities
Accounts receivable	97,417	15,287	(130,498)
Contract assets	(26,389)	(4,141)	(227,391)	11,000
Prepayments and other receivables	(5,155)	(810)	(58,692)	(48,831)
Inventories	(27,237)	(4,274)
Accruals and other payables	152,101	23,868	173,713	188,375
Contract liabilities	224,000	35,150
Advance from customers				(14,151)
Research and development funding received				53,148
Other non-current liabilities	5,959	935	7,474
Deferred subsidy income	(7,509)	(1,178)	3,589	1,420
Lease liabilities	(18,667)	(2,929)	(8,837)	(6,172)
Net cash generated from (used in) operating activities	(973,093)	(152,700)	433,558	(867,982)
Cash flows from investing activities
Purchase of property, equipment and software	(29,932)	(4,697)	(8,008)	(12,241)
Capital injection in an affiliate	(6,000)	(942)
Proceeds from disposal of short-term investments	9,482,040	1,487,939	2,503,749	102,703
Purchase of short-term investments	(10,173,314)	(1,596,414)	(2,491,991)	(134,000)
Cash disposed of resulting from deconsolidation of a subsidiary			(257,651)
Cash received from disposal of other financial assets				256,000
Cash received from repayment of loans due from an affiliate			52,000
Net cash generated from (used in) investing activities	(727,206)	(114,114)	(201,901)	212,462
Cash flows from financing activities
Proceeds from issuance of convertible preferred shares, net of issuance cost			0	183,536
Proceeds from initial public offering and over-allotment, net of underwriting discounts and commissions	0	0	726,300
Payment of issuance cost for initial public offering and over-allotment	0	0	(27,595)	(827)
Proceeds from private placement			2,789,699
Payments of the issuance cost in relation to private placement	(128,786)	(20,209)	(7,244)
Payments of cost in relation to planned dual listing	(9,820)	(1,541)
Proceeds from exercise of warrants	672,664	105,556		0
Proceeds from exercise of stock options	51,315	8,052	9,275
Proceeds from issuance of ordinary shares for restricted share units	8,551	1,342	46
Proceeds from bank borrowings			0	50,000
Repayment of bank borrowings	0	0	(50,000)	(80,000)
Prepayment for stock repurchase program	0	0	(34,859)
Cash received from collection of prepayment for stock repurchase program	0	0	34,859
Net cash generated from financing activities	593,924	93,200	3,440,481	152,709
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(128,771)	(20,207)	(106,643)	15,163
Net increase (decrease) in cash, cash equivalents and restricted cash	(1,235,146)	(193,821)	3,565,495	(487,648)
Cash, cash equivalents and restricted cash, beginning of year	4,758,778	746,756	1,193,283	1,680,931
Cash, cash equivalents and restricted cash, end of the year	3,523,632	552,935	4,758,778	1,193,283
Additional ASC 842 supplemental disclosures
Cash paid for fixed operating lease costs included in the measurement of lease obligations in operating activities	18,667	2,929	8,837	6,172
Right-of-use assets obtained in exchange for operating lease obligations	118,436	18,585	7,459	8,595
Other supplemental cash flow disclosures
Interest paid			957	2,991
Non-cash activities
Payables for purchase of property, equipment and software	6,679	1,048
Accrued initial public offering costs payable				17,504
Accrued planned dual listing costs payable	¥ 4,793	$ 752
Deemed dividend to Series C-1 preferred shareholders at extinguishment of Series C-1 Preferred Shares				5,283
Deemed dividend to Series B-1, B-2 and C preferred shareholders at modification of Series B-1, B-2 and C Preferred Shares				¥ 27,768
Accrued private placement offering costs payable			128,786
Ordinary shares issued to Everest			254,848
Conversion of preferred shares to ordinary shares			3,104,177
Conversion of convertible promissory notes to ordinary shares			¥ 58,826

Net Income (Loss) per Share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Net Income (Loss) per Share

20. NET INCOME (LOSS) PER SHARE

Basic and diluted net income (loss) per share for each of the periods presented are calculated as follows:


	Year Ended December 31
	2019			2020		2021
	RMB			RMB		RMB			US$ (Note 2.5)
	(in thousands, except for share and per share data)
Numerator:
Net income (loss) attributable to I-Mab		(1,451,950	)		470,915		(2,331,541	)		(365,870	)
Deemed dividend to Series C-1 preferred shareholders at extinguishment of Series C-1 Preferred Shares		(5,283	)		—		—			—
Deemed dividend to Series B-1, B-2 and C preferred shareholders at modification of Series B-1, B-2 and C Preferred Shares		(27,768	)		—		—			—

Net income (loss) attributable to ordinary shareholders		(1,485,001	)		470,915		(2,331,541	)		(365,870	)

Denominator:
Denominator for basic calculation-weighted average number of common shares outstanding		7,381,230			134,158,824		174,707,055			174,707,055
Dilutive effect of convertible preferred shares		—			4,373,047		—			—
Dilutive effect of ordinary shares to be issued to Everest		—			266,458		—			—
Dilutive effect of convertible promissory notes		—			865,479		—			—
Dilutive effect of restricted shares units		—			778,130		—			—
Dilutive effect of stock options		—			16,789,714		—			—

Denominator for diluted income (loss) per share calculation		7,381,230			157,231,652		174,707,055			174,707,055

Net income (loss) per share - basic		(201.19	)		3.51		(13.35	)		(2.09	)
Net income (loss) per share - diluted		(201.19	)		3.00		(13.35	)		(2.09	)

The effects of all outstanding convertible preferred shares, restricted shares, certain stock options and warrants have been excluded from the computation of diluted loss per share for the years ended December 31, 2019 and 2021 as their effects would be anti-dilutive. The potentially dilutive securities that have not been included in the calculation of diluted net loss per share as their inclusion would be anti-dilutive are as follows:


	Year Ended December 31
	2019		2021
Convertible preferred shares		92,238,119		—
Restricted shares		—		3,150,881
Stock options		11,388,776		14,584,833
Warrants		—		648,359

Accounts Receivable And Contract Assets (Tables)

12 Months Ended

Dec. 31, 2021

Accounts Receivable And Contract Assets [Abstract]

summary of Accounts receivable and contract assets, net of allowance for credit losses

Accounts receivable and contract assets, net of allowance for credit losses, consisted of the following:


	As of December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
Accounts receivable, gross		130,498		33,081		5,191
Allowance for credit losses		—		—		—

Accounts receivable, net		130,498		33,081		5,191


	As of December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
Contract assets, gross		227,391		253,780		39,824
Allowance for credit losses		—		—		—

Contract assets, net		227,391		253,780		39,824

Leases - Operating Lease, Maturity (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Jan. 01, 2019 CNY (¥)
Schedule of Operating Lease Maturity [Line Items]
2022	¥ 35,359	$ 5,549
2023	38,120	5,982
2024	33,305	5,226
2025	5,399	847
2026	5,501	863
Thereafter	4,949	776
Total undiscounted lease payments	122,633	19,243
Less: imputed interest	(10,178)	(1,596)
Total lease liabilities	¥ 112,455	$ 17,647	¥ 11,333

Leases - Components of Operating Lease Expense (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)
Schedule of Components of Operating Lease Expense [Line Items]
Amortization of right-of-use assets	¥ 16,997	$ 2,667	¥ 8,158	¥ 5,260
Expense for short-term leases within 12 months	16	3		592
Interest of lease liabilities	2,585	406	679	543
Operating lease rental expense	¥ 19,598	$ 3,076	¥ 8,837	¥ 6,395

Principal Accounting Policies

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Principal Accounting Policies

2. PRINCIPAL ACCOUNTING POLICIES

2.1 Basis of presentation

The accompanying consolidated financial statements of the Group have been prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Significant accounting policies followed by the Group in the preparation of the accompanying consolidated financial statements are summarized below.

2.2 Basis of consolidation

The Company accounts for investments in which it has significant influence but not a controlling financial interest using the equity method of accounting (see Note 10).

VIE Model

Under the VIE model, limited partnerships are considered VIE unless the limited partners hold substantive

kick-out

As of December 31, 2021, the Group determined that the one entity subject to the consolidation guidance is a VIE for which the Group is not the primary beneficiary.

2.3 Use of estimates

right-of-use

2.4 Fair value measurements

The Group measures its financial assets and liabilities using inputs from the following three levels of the fair value hierarchy. The three levels are as follows:

Level 1 inputs are unadjusted quoted prices in active markets for identical assets that the management has the ability to access at the measurement date.

Assets and liabilities measured at fair value on a recurring basis

The following table summarizes the Group’s financial assets and liabilities measured and recorded at fair value on a recurring basis as of December 31, 2020 and 2021:

As of December 31, 2020

Active market

Observable input

Non-

observable input

(Level 1)

(Level 2)

(Level 3)

Total

RMB

Assets:

Short-term investments

—

31,530

Liabilities

Put right liabilities

—

116,006

As of December 31, 2021

Active market
(Level 1)

Observable input
(Level 2)

Non-

observable input
(Level 3)

Total

RMB

Assets:

Short-term investments

—

753,164

Liabilities

Put right liabilities

—

96,911

The roll forward of major Level 3 financial assets and financial liabilities are as follows:


	Short-term investments			Put right liabilities
Fair value of Level 3 financial assets and liabilities as of December 31, 2019		32,000			—
Purchase of short-term investments		2,491,991			—
Disposal of short-term investments		(2,503,749	)		—
Grant of put right liabilities		—			124,321
Fair value changes		11,288			(3,024	)
Currency translation differences		—			(5,291	)

Fair value of Level 3 financial assets and liabilities as of December 31, 2020		31,530			116,006

Purchase of short-term investments		10,173,314			—
Disposal of short-term investments		(9,482,040	)		—
Fair value changes		30,360			(16,628	)
Currency translation differences		—			(2,467	)

Fair value of Level 3 financial assets and liabilities as of December 31, 2021		753,164			96,911

See Note 10 for additional information about Level 3 put right liabilities measured at f

ir value on a recurring basis for the year ended December 31, 2020 and 2021.

2.5 Foreign currency translation

2.6 Cash and cash equivalents

2.7 Accounts receivable

2.8 Short-term investments

2.9 Inventories

2.10 Property, equipment and software

Laboratory equipment		3 to 10 years
Software		1 to 5 years
Office furniture and equipment		5 years
Leasehold improvements		Lesser of useful life or lease term

The Group recognizes the gain or loss on the disposal of property, equipment and software in the consolidated statements of comprehensive income (loss).

2.1

Intangible assets

Intangible assets acquired in a business combination that are used in research and development activities, or

in-process

2.1

Impairment of long-lived assets

2.13 Goodwill

2.1

Long-term investments

2.1

Deferred subsidy income

2.1

Revenue recognition

The Group adopted Accounting Standard Codification (“ASC”) 606,

Revenue from Contracts with Customers

Collaboration revenue

Licenses of Intellectual Property:

Upfront

non-refundable

non-refundable,

up-front

fees allocated to the license at a point in time, upon which the license is transferred to the licensee and the licensee is able to use and benefit from the license.

Research and Development Services:

Milestone Payments

re-evaluates

catch-up

basis, which would affect the Group’s reported revenues and earnings in the period of the adjustment.

Royalties

Supply of investigational products

Contract assets and liabilities

31, 2019,

2020 and 2021.

Cost-to-cost measure of progress for over time performance obligations

2.1

Value-added-tax

(“VAT”) recoverable and surcharges

the value-added-tax depending

the tax-payer’s location.

2.1

Research and development expenses

Elements of research and development expenses primarily include (1) payroll and other related expenses of personnel engaged in research and development activities,

(2) in-licensed

The Group has acquired rights to develop and commercialize product candidates. Upfront payments that relate to the acquisition of a new drug compound, as well as

pre-commercial

milestone payments, are immediately expensed as acquired

in-process

2.1

Leases

In accordance with ASC 842 adopted on January 1, 2019, the Group determines if an arrangement is a lease at inception. Operating leases are included in operating lease

right-of-use

(“ROU”) assets, operating lease liability, and operating lease liability,

non-current

in the Group’s consolidated balance sheets. The Group does not have any finance leases since the adoption date.

The Group has elected to adopt the following lease policies in conjunction with the adoption of ASU

2016-02:

(i) elect for each lease not to separate

non-lease

components from lease components and instead to account for each separate lease component and the

non-lease

In connection with the adoption of ASC 842, on January 1, 2019, the Group recorded an impact of RMB13,100 on its assets and RMB11,333 on its liabilities for the recognition of operating lease

right-of-use-assets

Comprehensive income (loss)

2.2

Share-based compensation

The Group grants restricted shares and stock options to eligible employees and accounts for share-based compensation in accordance with ASC 718, Compensation—Stock Compensation.

2.2

Income taxes

The Group evaluates its uncertain tax positions using the provisions of ASC

740-10, Income

2.2

Business combination

2.2

Segment information

2.2

Income (loss) per share

the if-converted method,

shares issuable upon the issuance of ordinary shares to be issued to Everest using

the if-converted method,

shares issuable upon the conversion of the convertible promissory notes using

the if-converted method,

2.2

Adopted accounting pronouncements

In December 2019, the FASB issued ASU

2019-12 — Income

Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This ASU provides an exception to the general methodology for calculating income taxes in an interim period when a

year-to-date

non-income-based

tax, (2) requires an entity to evaluate when a

step-up

No. 2019-12

from January 1, 2021, which did not have a material impact on the Group’s consolidated financial statements.

In January 2020, the FASB issued Accounting Standards Update

No. 2020-01,

815-10-15-141(a)

815-10-15-141

to determine the accounting for those forward contracts and purchased options. The Company adopted ASU

No. 2020-01

from January 1, 2021, which did not have a material impact on the Group’s consolidated financial statements.

2.2

Recent accounting pronouncements

In March 2020, the FASB issued ASU

2020-04,

2020-04

In July 2021, the FASB issued ASU

2021-05,

Lessors—Certain Leases with Variable Lease (“ASU

2021-05”).

In October 2021, the FASB issued ASU

2021-08,

Business Combinations (Topic 805) — Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU

2021-08”).

2021-08

is effective for the Company from January 1, 2023, with early adoption permitted. The ASU is currently not expected to have a material impact on the Group’s consolidated financial statements.

Other Income (Expenses), Net (Tables)

12 Months Ended

Dec. 31, 2021

Other Income and Expenses [Abstract]

Summary of Other Income (Expenses), Net

The following table summarizes other income (expenses), net recognized for the years ended December 31, 2019, 2020 and 2021:


			Year Ended December 31
			2019			2020			2021
	Notes		RMB			RMB			RMB			US$
												(Note 2.5)
Loss on termination agreement with Everest		18		(23,039	)		—			—			—
Income of incentive payment from depository bank		11		—			2,348			2,395			376
Fair value change of short-term investments				703			11,288			30,360			4,764
Fair value change of put right liabilities				—			3,024			16,628			2,609
Net foreign exchange gains (losses)				1,619			(22,126	)		25,373			3,982
Subsidy income (3)				568			11,633			9,216			1,446
Gains on deconsolidation of a subsidiary		10		—			407,598			—			—
Fair value change of other financial assets				42			—			—			—
Others				(98	)		(873	)		(810	)		(127	)

				(20,205	)		412,892			83,162			13,050

(3)

For the year ended December 31, 2020, subsidy income consists primarily of the government grant of RMB10 million. The government grant was granted by the project management office of Shanghai Zhangjiang Science City to support the research and development activities in the local region. For the year ended December 31, 2021, subsidy income primarily consists of an amount of RMB2.9 million related to the paycheck protection program loan forgiveness approved by the U.S. Small Business Administration in April 2021, and an amount of RMB4.5 million recognized in connection with the completion of a project related to one of the Group’s pipelines.

Warrants - Additional Information (Detail) $ / shares in Units, ¥ in Thousands						12 Months Ended
	Feb. 10, 2020 $ / shares shares	Jul. 06, 2018 CNY (¥) shares	Jul. 06, 2018 USD ($) shares	Sep. 25, 2017 shares	Sep. 22, 2017 shares	Dec. 31, 2021 CNY (¥) shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)	Jun. 29, 2018 shares	Oct. 31, 2016 $ / shares
Number of share issued, ADS	8,175,750
Value of outstanding securities						¥ 672,664	$ 105,556,000		¥ 0
Fair value gain of warrants for the year						¥ 0	$ 0	¥ 0	(5,644)
Proceeds from Issuance of Private Placement \| ¥								2,789,699
Share price \| $ / shares	$ 14.00										$ 0.77
Investor Warrants [Member]
Number of share issued, ADS						5,341,267	5,341,267
Share price \| $ / shares							$ 45
Proceeds from issuance of warrants \| $							$ 104,500,000
Collaboration agreement with investors [Member]
Proceeds from Issuance of Private Placement \| $							418,000,000
Hillhouse Entities [Member]
Proceeds from issuance of warrants \| $							$ 45.00
Warrants exercisable term						12 months	12 months
Series B Preferred Shareholders [Member]
Number of share issued, ADS					5,633,780
Series B Onshore Investors [Member]
Number of share issued, ADS				2,620,842
Tranche I Of Series B Warrants [Member]
Value of outstanding securities \| $							$ 20,000,000
Warrants issued and exercised		3,301,849	3,301,849
Series B2 Preferred Shares [Member]
Number of share issued, ADS						3,301,849	3,301,849
Value of outstanding securities		¥ 132,332	$ 20,000,000
Warrants issued and exercised										3,301,849
Tranche II of Series B Warrants [Member]
Value of outstanding securities \| $							$ 30,000,000
Series B Warrants Shares [Member]
Warrants issued and exercised		4,952,773	4,952,773
Fair value gain of warrants for the year \| ¥								¥ 0	¥ 5,644
American Depositary Shares [Member] \| Investor Warrants [Member]
Number of share issued, ADS						5,341,267	5,341,267
Share price \| $ / shares							$ 45

Principal Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Summary of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table summarizes the Group’s financial assets and liabilities measured and recorded at fair value on a recurring basis as of December 31, 2020 and 2021:

As of December 31, 2020

Active market

Observable input

Non-

observable input

(Level 1)

(Level 2)

(Level 3)

Total

RMB

Assets:

Short-term investments

—

31,530

Liabilities

Put right liabilities

—

116,006

As of December 31, 2021

Active market
(Level 1)

Observable input
(Level 2)

Non-

observable input
(Level 3)

Total

RMB

Assets:

Short-term investments

—

753,164

Liabilities

Put right liabilities

—

96,911

Summary of Roll Forward of Major Level 3 Financial Assets and Financial Liability

The roll forward of major Level 3 financial assets and financial liabilities are as follows:


	Short-term investments			Put right liabilities
Fair value of Level 3 financial assets and liabilities as of December 31, 2019		32,000			—
Purchase of short-term investments		2,491,991			—
Disposal of short-term investments		(2,503,749	)		—
Grant of put right liabilities		—			124,321
Fair value changes		11,288			(3,024	)
Currency translation differences		—			(5,291	)

Fair value of Level 3 financial assets and liabilities as of December 31, 2020		31,530			116,006

Purchase of short-term investments		10,173,314			—
Disposal of short-term investments		(9,482,040	)		—
Fair value changes		30,360			(16,628	)
Currency translation differences		—			(2,467	)

Fair value of Level 3 financial assets and liabilities as of December 31, 2021		753,164			96,911

Summary of Estimated Useful Lives

Laboratory equipment		3 to 10 years
Software		1 to 5 years
Office furniture and equipment		5 years
Leasehold improvements		Lesser of useful life or lease term

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Licensing And Collaboration Agreements - Additional Information (Detail) ¥ in Thousands, $ in Thousands													1 Months Ended						12 Months Ended
	Jan. 31, 2022 CNY (¥)	Dec. 31, 2021 USD ($)	Sep. 30, 2021 CNY (¥)	Sep. 30, 2021 USD ($)	Sep. 03, 2020 USD ($)	Sep. 30, 2019 CNY (¥)	Feb. 28, 2019 CNY (¥)	Jul. 31, 2018 CNY (¥)	Jul. 31, 2018 USD ($)	Jan. 01, 2018	Nov. 17, 2017 CNY (¥)	Nov. 17, 2017 USD ($)	Aug. 31, 2020 CNY (¥)	Aug. 31, 2020 USD ($)	Jul. 31, 2018 CNY (¥)	Jul. 31, 2018 USD ($)	Jan. 31, 2018 CNY (¥)	Jan. 31, 2018 USD ($)	Dec. 31, 2021 CNY (¥) shares	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥) shares	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 CNY (¥)	Dec. 31, 2017 USD ($)	Dec. 31, 2021 USD ($) shares	Mar. 31, 2021 CNY (¥)	Mar. 31, 2021 USD ($)	Feb. 28, 2021 USD ($)	Dec. 31, 2020 USD ($) shares	Jan. 31, 2020 shares	Nov. 04, 2019 CNY (¥) shares	Nov. 04, 2019 USD ($) shares
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense																			¥ 1,212,958	$ 190,340	¥ 984,689		¥ 840,415
Issue of shares, Value																			¥ 126		¥ 114								$ 20
Issue of shares \| shares																			183,826,753		164,888,519								183,826,753				164,888,519
Milestone revenue recognized																			¥ 88,026	$ 13,813	¥ 1,542,668		30,000
ABL Bio [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense																					44,000
Genexine Inc [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense																					4,300
Licensing Agreement With CSPC Pharmaceutical Group Limited [Member] \| CSPC [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront License Fee																									¥ 15,000
Milestone payments																									135,000
Advance from customers																									14,200
Proceeds from milestone achievement						¥ 15,000	¥ 800
Milestone revenue recognized																			8,500				30,000
Second Milestone Payment	¥ 10,000																		¥ 8,500
Licensing Agreement With ABL Bio [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments																					¥ 0
Milestone revenue recognized																									17,200	$ 2,500
Licensing Agreement With ABL Bio [Member] \| ABL Bio [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments								¥ 690,300
Licensing Agreement With ABL Bio [Member] \| ABL Bio [Member] \| Clinical Milestones [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments								230,100	$ 32,500
Licensing Agreement With ABL Bio [Member] \| ABL Bio [Member] \| Sales Milestones [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments								¥ 460,200	65,000
Collaboration Agreement With ABL Bio [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense																							¥ 11,200		¥ 1,000
Cost sharing ratio																			50.00%	50.00%	(50.00%)	(50.00%)	(50.00%)	(50.00%)	(50.00%)	(50.00%)
Collaboration Agreement With ABL Bio [Member] \| ABL Bio [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments \| $									$ 97,500
Research and development expense																							¥ 8,000
Collaboration Agreements with Tracon Pharmaceuticals Inc [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Termination fee payable \| $																																$ 9,000
Licensing Agreement with MorphoSys AG [Member] \| MorphoSysAG [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments													¥ 6,900	$ 1,000
Licensing Agreement with MorphoSys AG [Member] \| MorphoSys [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront License Fee											¥ 132,700	$ 20,000
Milestone payments											¥ 653,500	$ 98,500
Licensing Agreement with Genexine Inc [Member] \| Genexine Inc [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Reduction in milestone payment										50.00%
Long-term Purchase Commitment, Period																	15 years	15 years
Other In-Licensing Arrangements [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront License Fee																			¥ 6,800	$ 1,100
Milestone payments		$ 174,100																	19,800	$ 2,900	¥ 21,300	$ 3,100	8,400	$ 1,200
Milestone payments due																			¥ 1,122,300
Strategic Alliance Agreement with PT Kalbe Genexine Biologics [Member] \| Genexine Inc [Member] \| Study 1 [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Cost-to-cost input method percent																			53.00%	53.00%
Jumpcan Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront License Fee																			¥ 224,000
Milestone payments																			1,792
Upfront payment received																			224,000
Nonroyaltypayments																			2,016
Research and Development Expense [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense																			27,900		43,600
Research and Development Expense [Member] \| Genexine Inc [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense																					2,900
Research and Development Expense [Member] \| Licensing Agreement with MorphoSys AG [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments \| $																								8,000
Research and Development Expense [Member] \| Licensing Agreement with MorphoSys AG [Member] \| MorphoSys [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront License Fee																									¥ 0		¥ 132,700	$ 20,000
Milestone payments																							55,700	8,000
Research and Development Expense [Member] \| Licensing Agreement with Genexine Inc [Member] \| Genexine Inc [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront License Fee																	¥ 79,600	$ 12,000
Research and Development Expense [Member] \| Licensing Agreements With Morphosys [Member] \| MorphoSys [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront License Fee																									23,200	$ 3,500
Research and Development Expense [Member] \| Licensing Agreement with MacroGenics [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments \| $																				$ 4,484
Research and Development Expense [Member] \| Licensing Agreement with MacroGenics [Member] \| MacroGenics [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront License Fee \| $																								15,000
Milestone payments			¥ 28,900	$ 4,500
Operating Expense [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense																			24,300		43,800
Operating Expense [Member] \| Licensing Agreement With ABL Bio [Member] \| ABL Bio [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense																					¥ 140	$ 20	¥ 700	$ 100
Cost sharing ratio																					(50.00%)	(50.00%)	50.00%	50.00%
Operating Expense [Member] \| Collaboration Agreement With ABL Bio [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense																							¥ 9,600			500
Operating Expense [Member] \| Collaboration Agreements with Tracon Pharmaceuticals Inc [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense																			110	20	¥ 170	$ 30	27,800	$ 4,000
General and Administrative Expense [Member] \| Collaboration Agreements with Tracon Pharmaceuticals Inc [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Termination fee payable																			58,000										$ 9,000
MorphoSysAG [Member] \| Licensing Agreement with MorphoSys AG [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Second Milestone Payment																			1,500	9,700
Payments Related To Withholding Tax Amount																			1,100
MorphoSysAG [Member] \| Research and Development Expense [Member] \| Licensing Agreement with MorphoSys AG [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront License Fee																			0		¥ 0
Genexine Inc [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense																			13,200
Genexine Inc [Member] \| Licensing Agreement with Genexine Inc [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments																			¥ 3,482,700	525,000
Genexine Inc [Member] \| Licensing Agreement with Genexine Inc [Member] \| GXI7 [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments \| $																				$ 2,000,000
Genexine Inc [Member] \| Strategic Alliance Agreement with PT Kalbe Genexine Biologics [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Potential value of license agreement \| $																						250,000
Genexine Inc [Member] \| Strategic Alliance Agreement with PT Kalbe Genexine Biologics [Member] \| Study 1 [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense \| $																						$ 11,000
Cost-to-cost input method percent																					17.00%	17.00%
Genexine Inc [Member] \| Strategic Alliance Agreement with PT Kalbe Genexine Biologics [Member] \| Study 2 [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense \| $																						$ 10,200
Cost-to-cost input method percent																			51.00%	51.00%	41.00%	41.00%
Genexine Inc [Member] \| Research and Development Expense [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense																			¥ 8,800
Genexine Inc [Member] \| Research and Development Expense [Member] \| Licensing Agreement with Genexine Inc [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments																			¥ 152,600	$ 23,000
MacroGenics [Member] \| Licensing Agreement with Genexine Inc [Member] \| Development Milestone [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments \| $																				$ 75,000
MacroGenics [Member] \| Licensing Agreement with MacroGenics [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Licensing Arrangements, Description of terms																			The Group is responsible for all development costs in Greater China. MacroGenics is responsible for all development costs in the rest of the world, except that the Group is responsible for 20% of the costs incurred in (i) activities supporting global clinical trials in which the Group participates, (ii) certain CMC activities for material intended to be used in clinical trials in Greater China, and (iii) companion diagnostic development and validation for indications being studied in Greater China.	The Group is responsible for all development costs in Greater China. MacroGenics is responsible for all development costs in the rest of the world, except that the Group is responsible for 20% of the costs incurred in (i) activities supporting global clinical trials in which the Group participates, (ii) certain CMC activities for material intended to be used in clinical trials in Greater China, and (iii) companion diagnostic development and validation for indications being studied in Greater China.
MacroGenics [Member] \| Licensing Agreements [Member] \| Research and Development Expense [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront License Fee																							104,400
MacroGenics [Member] \| Licensing Agreements [Member] \| Research and Development Expense [Member] \| Minimum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments \| $																				$ 60,000
Everest [Member] \| Collaboration Agreement with Everest [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense																							53,100	7,600
Convertible Preferred Stock, Shares Issued upon Conversion \| shares																																		6,078,571
Everest [Member] \| Out Licensing Agreements [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Description of Payment Terms																			Under the agreement, the Group is primarily responsible for carrying out the development, manufacture and supply of the CD38 product, as well as seeking regulatory approval of the CD38 product. Everest is primarily responsible for sharing the development costs of the CD38 product, including payments due to MorphoSys under the Licensing Agreement, dated November 30, 2017, in the proportion of 75% by Everest and 25% by the Group.	Under the agreement, the Group is primarily responsible for carrying out the development, manufacture and supply of the CD38 product, as well as seeking regulatory approval of the CD38 product. Everest is primarily responsible for sharing the development costs of the CD38 product, including payments due to MorphoSys under the Licensing Agreement, dated November 30, 2017, in the proportion of 75% by Everest and 25% by the Group.
Sharing the profit and loss																			5.00%										5.00%
Research and development expense																									¥ 178,700	$ 26,000
Issue of shares, Value \| $																																				$ 37,000
Issue of shares \| shares																																			4,762,751	4,762,751
Cumulative Paid In Contributions \| $																																				$ 33,700
Time cost of foregoing historical contribution																																			¥ 23,000	$ 3,300
ABL Bio [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense																			¥ 20,700
ABL Bio [Member] \| Licensing Agreement With ABL Bio [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone revenue recognized															¥ 17,200	$ 2,500
ABL Bio [Member] \| Research and Development Expense [Member] \| Licensing Agreement With ABL Bio [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development expense																					¥ 280	$ 40	¥ 1,400	$ 200
AbbVie [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront License Fee \| $					$ 180,000
Research and development expense \| $																						228,800
Proceeds from milestone achievement \| $					1,740,000
Revenue from contract with customer at time of transfer of license \| $																						228,800
Contract asset with customer																			31,600		227,400								$ 4,900				$ 34,800
Upfront payment received \| $																						180,000
Milestone Payment Receivable																														¥ 20,000	$ 20,000
Total contract asset																			253,800										$ 39,700
AbbVie [Member] \| Study 1 [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue from collaborative arrangement, excluding assessed tax																			25,600	$ 4,000	12,000	1,800
AbbVie [Member] \| Study 2 [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue from collaborative arrangement, excluding assessed tax																			¥ 6,000	$ 900	¥ 27,800	4,200
AbbVie [Member] \| Clinical Milestones [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from milestone achievement \| $					$ 840,000
AbbVie [Member] \| Lemzoparlimab License [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront License Fee \| $																						180,000
Potential value of license agreement \| $																						250,000
AbbVie [Member] \| Lemzoparlimab License [Member] \| First Milestone [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments \| $																						20,000
AbbVie [Member] \| Lemzoparlimab License [Member] \| Second Milestone [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payments \| $																						$ 50,000

Warrants (Tables)

12 Months Ended

Dec. 31, 2021

Warrants Disclosure [Abstract]

Summary of fair value of warrant liabilities

The Group used the binomial model to estimate the fair value of the warrant on September 11, 2020 and December 17, 2020 when the Investor Warrants were issued using the following assumptions:


	As of September 11,			As of December 17,
	2020			2020
Risk-free rate of return		0.12	%		0.08	%
Maturity date		September 11, 2021			December 17, 2021
Estimated volatility rate		60.72	%		59.56	%
Exercise price		US$19.57			US$19.57

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

The estimated fair value of the Investor Warrants was shown below, which were used to determine the allocation of the total proceeds for the sale of ordinary shares between the Investor Warrants and ordinary shares.


	Terms		Exercise Price per share US$		Outstanding Units		Fair value at the closing date RMB’000
Warrants to purchase ordinary shares (first closing on September 11, 2020)		12 months		19.57		3,744,032		71,874
Warrants to purchase ordinary shares (second closing on December 17, 2020)		12 months		19.57		1,597,235		37,869

Warrants - Summary of fair value of warrant liabilities (Detail)	Dec. 17, 2020	Sep. 11, 2020
Risk-free rate of return [Member]
Warrants and Rights Outstanding, Measurement Input	0.08	0.12
Maturity date [Member]
Warrants and Rights Outstanding, Maturity Date	Dec. 17, 2021	Sep. 11, 2021
Estimated volatility rate [Member]
Warrants and Rights Outstanding, Measurement Input	59.56	60.72
Exercise price [Member]
Warrants and Rights Outstanding, Measurement Input	19.57	19.57

Principal Activities and Organization - Additional Information (Detail) $ / shares in Units, ¥ in Thousands, $ in Thousands			12 Months Ended
	Feb. 10, 2020 USD ($) $ / shares shares	Jan. 31, 2020 USD ($) shares	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Jan. 17, 2020 $ / shares	Oct. 31, 2016 $ / shares
Number of share issued, ADS	8,175,750
Proceeds from initial public offering	$ 114,500		¥ 0	$ 0	¥ 726,300
Share price \| $ / shares	$ 14.00						$ 0.77
IPO [Member]
Number of share issued, ADS		7,407,400
Number of share issued, price per share \| $ / shares						$ 14.00
Proceeds from initial public offering \| $		$ 103,700
Over-Allotment Option [Member]
Common stock shares issuable	768,350

Goodwill	12 Months Ended
Goodwill	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	9. GOODWILL On July 15, 2017, the Group acquired 66.67% of the equity interests in the Tasgen Group by issuing convertible preferred shares, and controlled the board of directors and business of I-Mab Tianjin since then. Tasgen Group is principally engaged in the research and development of innovative medicines and the Group acquired Tasgen Group for its research team, technical experience, and IPR&D pipeline assets (see Note 8). As of December 31, 2020 and 2021, the goodwill of RMB162,574 represented the goodwill generated from the aforementioned acquisition of Tasgen Group and the business of Tasgen Group was fully integrated into the Company after the acquisition. As of December 31, 2020 and 2021, the Group performed a qualitative assessment by evaluating relevant events and circumstances that would affect the Group’s single reporting unit and did not note any indicator that it is more likely than not that the fair value of the Group’s reporting unit is less than its carrying amount and therefore the Group’s goodwill was not impaired.

Related Party Balances and Transactions - Summary of Related Party Transactions (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)
Receipt of Contract Research Organizations [Member] \| Imab Hangzhou [Member]
Related Party Transaction [Line Items]
Research and development expenses recognized	¥ 2,465	$ 387
CMAB Bipharma Suzhou Inc [Member] \| Receipt of Contract Research Organizations [Member]
Related Party Transaction [Line Items]
Research and development expenses recognized			¥ 681
Jiangsu Taslydiyi Pharmaceutical Co Ltd [Member] \| Receipt of Contract Research Organizations [Member]
Related Party Transaction [Line Items]
Research and development expenses recognized	¥ 2,697	$ 423	¥ 2,395
Tasly Pharmaceutical Group Co Ltd [Member] \| Receipt of Contract Research Organizations [Member]
Related Party Transaction [Line Items]
Research and development expenses recognized				¥ 5,590
Everest [Member]
Related Party Transaction [Line Items]
Receipt of research and development funding				¥ 53,148

Intangible Assets - Summary Of Intangible Assets (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	¥ 122,000	¥ 122,000
Accumulated amortization	(2,334)	(1,556)
Net carrying amount	119,666	120,444
TJ103 [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	11,670	11,670
Accumulated amortization	(2,334)	(1,556)
Net carrying amount	9,336	10,114
IPR And D TJ101 [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	110,330	110,330
Accumulated amortization	0
Net carrying amount	¥ 110,330	¥ 110,330

Consolidated Balance Sheets ¥ in Thousands, $ in Thousands	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)
Current assets
Cash and cash equivalents	¥ 3,523,632	$ 552,935	¥ 4,758,778
Accounts receivable	33,081	5,191	130,498
Contract assets	253,780	39,824	227,391
Short-term investments	753,164	118,188	31,530
Inventories	27,237	4,274	0
Prepayments and other receivables	190,824	29,944	195,467
Total current assets	4,781,718	750,356	5,343,664
Property, equipment and software	45,716	7,174	25,272
Operating lease right-of-use assets	112,781	17,698	14,997
Intangible assets	119,666	18,778	120,444
Goodwill	162,574	25,511	162,574
Investment accounted for using the equity method	352,106	55,253	664,832
Other non-current assets	26,634	4,179	2,010
Total assets	5,601,195	878,949	6,333,793
Current liabilities
Accruals and other payables	593,335	93,107	560,558
Operating lease liabilities, current	30,669	4,813	8,058
Deferred subsidy income			7,509
Total current liabilities	624,004	97,920	576,125
Put right liabilities	96,911	15,207	116,006
Contract liabilities	224,000	35,150
Operating lease liabilities, non-current	81,786	12,834	5,542
Other non-current liabilities	14,934	2,343	8,975
Total liabilities	1,041,635	163,454	706,648
Commitments and contingencies
Shareholders' equity (deficit)
Ordinary shares (US$0.0001 par value, 800,000,000 shares authorized as of December 31, 2020 and 2021; 164,888,519 and 183,826,753 shares issued and outstanding as of December 31, 2020 and 2021, respectively)	126	20	114
Additional paid-in capital	9,100,777	1,428,110	7,701,116
Accumulated other comprehensive loss	(186,510)	(29,267)	(50,793)
Accumulated deficit	(4,354,833)	(683,368)	(2,023,292)
Total shareholders' equity	4,559,560	715,495	5,627,145
Total liabilities and shareholders' equity	¥ 5,601,195	$ 878,949	¥ 6,333,793

Licensing And Collaboration Arrangements

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Licensing And Collaboration Arrangements

18. LICENSING AND COLLABORATION ARRANGEMENTS

The following is a description of the Group’s significant licensing and collaboration agreements entered into from January 1, 2017 to December 31, 2021.

In-Licensing

Arrangements

Licensing Agreement with MorphoSys AG (“MorphoSys”)

In November 2017, the Group entered into a license and collaboration agreement with MorphoSys, with respect to the development and commercialization of MOR202/TJ202, MorphoSys´s proprietary investigational antibody against CD38 (the “CD38 product”).

Under this agreement, MorphoSys granted to the Group an exclusive, royalty-bearing, sublicensable license to exploit MOR202/TJ202 for any human therapeutic or diagnostic purpose in the licensed territory, namely mainland China, Hong Kong, Macau and Taiwan (collectively “Greater China”).

Pursuant to this agreement, the Group granted to MorphoSys an exclusive license to its rights in any inventions that the Group make while exploiting the CD38 product under this agreement, solely to exploit the CD38 product outside of Greater China.

Pursuant to this agreement, the Group paid to MorphoSys an upfront license fee of US$20.0 million (equivalent to approximately RMB132.7 million). The Group also agreed to make milestone payments to MorphoSys, conditioned upon the achievement of certain development, regulatory and commercial milestones, in the aggregate amount of US$98.5 million (equivalent to approximately RMB653.5 million). Such milestones include first patient dosed in human clinical trials, marketing approval, and first annual net sales of CD38 products covered by the agreement in excess of a certain amount.

In addition, the Group is required to pay tiered

low-double-digit

royalties to MorphoSys on a

country-by-country

and

product-by-product

basis during the term, commencing with the first commercial sale of a relevant licensed product in Greater China. Unless terminated earlier in accordance with the terms thereof, this agreement will remain in effect until the expiration of the Group’s last payment obligation under the agreement.

In 2017, the Group paid US$20.0 million (equivalent to approximately RMB132.7 million) upfront fee to MorphoSys, which was recorded as research and development expense. No additional payments were made in 2018. Due to the uncertainty involved in meeting these developments and commercialization based targets, the Group evaluated and concluded that the remaining milestones are still not probable as of December 31, 2018. In March and April 2019, the project achieved the first and second milestone and the Group paid US$8.0 million (equivalent to approximately RMB55.7 million) of milestone fees to MorphoSys, which was recorded as research and development expense in the consolidated statement of comprehensive loss for the year ended December 31, 2019. No additional payments were made for the years ended December 31, 2020 and 2021 as no milestone has been achieved.

Summarized financial information related to the above agreement is presented below:


	Year ended December 31,								As of December 31,
	Research and Development Expense
	Upfront Fees		Milestones		Extension/Termination of agreements		Amortization of prepaid research and development		Intangible asset balance
2021		—		—		—		—		—
2020		—		—		—		—		—
2019		—	US$	8,000		—		—		—

Licensing Agreement with Genexine, Inc. (“Genexine”)

In December 2017, the Group entered into an intellectual property agreement with Genexine with respect to

GX-I7/TJ107,

a long-acting

IL-7

cytokine. Under this agreement, the Group obtained an exclusive, sublicensable and transferable license to use and otherwise exploit certain intellectual property in connection with the

pre-clinical

and clinical development, manufacturing, sale and distribution of

GX-I7

to treat cancer in Greater China.

Under the terms of the agreement, the Group made an upfront payment of US$12.0 million (equivalent to approximately RMB79.6 million) to Genexine which was recorded as a research and development expense in January 2018. The Group also agreed to make milestone payments in the aggregate amount of US$23.0 million (equivalent to approximately RMB152.6 million), conditioned upon the achievement of certain development milestones, including completion of Phase 2 and Phase 3 clinical studies and new drug application (“NDA”) or biologic license application (“BLA”) approval in Greater China.

Further, the Group agreed to make milestone payments in the aggregate amount of US$525.0 million (equivalent to approximately RMB3,482.7 million), conditioned upon the achievement of certain cumulative net sales of GX

-I7

up to US$2,000 million. The Group also is required to pay Genexine a

low-single-digit

percentage royalty in respect of the total annual net sales of

GX-I7.

The aforesaid milestones and royalties (other than the upfront payment) will be reduced by 50% following the entry of a generic version of

GX-I7

in China, Hong Kong, Macau and Taiwan without the consent or authorization of the Group or any of the Group’s sublicensees.

Unless terminated earlier in accordance with the terms thereof, this agreement will remain in effect until the later of (i) the expiry of the last to expire patent of the licensed intellectual property that includes a valid claim for Greater China and that covers the composition of

GX-I7;

and (ii) 15 years from the date of the first commercial sale of

GX-I7.

No additional payments to Genexine were made in the year ended December 31, 2020 and 2021. Due to the uncertainty involved in meeting these development and commercialization based targets, the Group evaluated and concluded that the remaining milestones are still not probable as of December 31, 2020 and 2021.

In May 2020, the Group and Genexine entered into an amendment to this agreement whereby both parties desire to establish collaboration on TJ107 GBM Study in Greater China Under the terms of the expanded collaboration, the Group will be mainly responsible for using commercially reasonable efforts to conduct the Phase 2 GBM clinical trial in Greater China, and Genexine will share the development strategies, data and costs for success of this clinical trial. The Group shall undertake to bear

two-thirds

(2/3) proportion of the clinical development costs and Genexine shall undertake to bear

one-third

(1/3) proportion of these costs. For the year ended December 31, 2020, the costs incurred for the development of this new indication was RMB4.3 million and thus RMB2.9 million expense was recorded in the consolidated statement of comprehensive income. For the year ended December 31, 2021, the costs incurred for the development of this new indication was RMB13.2 million and thus RMB8.8 million expense was recorded in the consolidated statement of comprehensive loss.

Licensing Agreement with MorphoSys

In November 2018, the Group entered into a license and collaboration agreement with MorphoSys for MorphoSys´s proprietary antibody (MOR210/TJ210) directed against C5aR (the “C5aR Agreement”). Under this agreement, the Group obtained an exclusive, royalty-bearing license to explore, develop and commercialize certain anti-C5aR antibodies in Greater China and South Korea.

The Group will perform and fund all global development activities related to the development of MOR210/TJ210 in Greater China and South Korea, including all relevant clinical trials (including in the U.S. and China) and all development activities required for IND filing in the US as well as CMC development of manufacturing processes. MorphoSys retains rights in respect of development and commercialization of MOR210/TJ210 in the rest of the world.

Under the terms of the agreement, the Group also agreed to make milestone payments conditional upon the achievement of certain development milestones and certain annual net sales of anti-C5aR antibodies. The Group is also required to pay to MorphoSys tiered

mid-single-digit

royalties on annual net sales of anti-C5aR antibody products within the licensed territory.

In 2018, the Group paid US$3.5 million (equivalent to approximately RMB23.2 million) upfront fee to MorphoSys, which was recorded as research and development expense in the consolidated statement of comprehensive loss for the year ended December 31, 2018. No additional payments were made in the year ended December 31, 2019. In August 2020, the project achieved the first milestone and the Group paid US$1.0 million (equivalent to approximately RMB6.9 million) of milestone fees to Morphosys, which was recorded as research and development expenses in the consolidated statement of comprehensive income for the year ended December 31, 2020. In January 2021, the project achieved the second milestone and the Group paid US$1.5 million (equivalent to approximately RMB9.7 million) of milestone fees to Morphosys and the related withholding tax of RMB1.1 million, which was recorded as research and development expenses in the consolidated financial statements of comprehensive loss for the year ended December 31, 2021. Due to the uncertainty involved in meeting these development and commercialization based targets, the Group evaluated and concluded that the remaining milestones are still not probable as of December 31, 2020 and 2021.

Summarized financial information related to the above agreement is presented below:


	Years Ended December 31,								As of December 31,
	Research and Development Expense
	Upfront Fees		Milestones		Extension/ Termination of agreements		Amortization of prepaid research and development		Intangible asset balance
2021		—	US$	1,500		—		—		—
2020		—	US$	1,000		—		—		—
2019		—		—		—		—		—

Licensing Agreement with MacroGenics

In July 2019, the Group entered into a license and collaboration agreement with MacroGenics, Inc. for development and commercialization of an

Fc-optimized

antibody known as enoblituzumab that targets

B7-H3,

including in combination with other agents, such as the

anti-PD-1

antibody known as MGA012, in the People’s Republic of China, Hong Kong, Macau and Taiwan (“Greater China”). Under this agreement, the Group obtained an exclusive, sublicenseable, royalty-bearing license to MacroGenics’ patents and

know-how

to develop and commercialize the enoblituzumab product, and a combination regimen of enoblituzumab and MGA012, in Greater China during the term of the agreement.

In exchange for these rights, in addition to certain financial consideration, the Group will grant to MacroGenics a royalty-free, sublicenseable, license outside of Greater China, to the patents and

know-how

that are related to the enoblituzumab product or useful or necessary for MacroGenics to develop or commercialize the enoblituzumab product or a product containing MGA012, and combinations thereof. The license is

(i) non-exclusive

with respect to the enoblituzumab product, and (ii) exclusive with regard to MGA012.

Pursuant to the agreement, the Group paid an upfront fee of US$15.0 million (equivalent to approximately RMB104.4 million) to MacroGenics, which was recorded as research and development expense in the consolidated statement of comprehensive loss for the year ended December 31, 2019. No additional payments were made in the year ended December 31, 2020. Under the terms of the agreement, the Group also agreed to pay MacroGenics development milestone fees of up to US$75.0 million and regulatory milestones fees of up to US$60.0 million, respectively, and tiered double-digit royalties (ranging from

mid-teens

to twenty percent) based on annual net sales in the territories. In September 2021, the project achieved the first milestone and the Group paid around US$4.5 million (equivalent to approximately RMB28.9 million) of milestone fees to

MacroGenics

, which was recorded as research and development expenses in the consolidated statement of comprehensive loss for the year ended December 31, 2021.

The Group is responsible for all development costs in Greater China. MacroGenics is responsible for all development costs in the rest of the world, except that the Group is responsible for 20% of the costs incurred in (i) activities supporting global clinical trials in which the Group participates, (ii) certain CMC activities for material intended to be used in clinical trials in Greater China, and (iii) companion diagnostic development and validation for indications being studied in Greater China.

Due to the uncertainty involved in meeting these development and commercialization based targets, the Group evaluated and concluded that the remaining milestones are still not probable as of December 31, 2020 and 2021.

Summarized financial information related to the above agreement is presented below:


	Year ended December 31,								As of December 31,
	Research and Development Expense
	Upfront Fees		Milestones		Extension/Termination of agreements		Amortization of prepaid research and development		Intangible asset balance
2021		—	US$	4,484		—		—		—
2020		—		—		—		—		—
2019	US$	15,000		—		—		—		—

Other

In-Licensing

Arrangements

In addition to the above arrangements, the Group has entered into other various

in-licensing

and collaboration agreements with third party licensors to develop and commercialize drug candidates. Based on the terms of these agreements the Group is contingently obligated to make additional material payments upon the achievement of certain contractually defined milestones. The Group recorded US$1.2 million (equivalent to approximately RMB8.4 million) milestone payment during the year ended December 31, 2019. The Group recorded US$3.1 million (equivalent to approximately RMB21.3 million) milestone payment during the year ended December 31, 2020. The Group recorded US$1.1 million (equivalent to approximately RMB6.8 million) upfront payment and US$2.9 million (equivalent to approximately RMB19.8 million) milestone payment

as research and development expenses

during the year ended December 31, 2021. As of December 31, 2021, under the terms of the agreements, the licensors are eligible to receive from the Group up to an aggregate of approximately US$174.1 million (equivalent to approximately RMB1,122.3 million) in milestone payments upon the achievement of contractually specified development milestones and sales milestones, such as regulatory approval for the drug candidates, which may be before the Group has commercialized the drug or received any revenue from sales of such drug candidate, which may never occur.

Collaboration Agreement with Everest (“Everest”)

In January 2018, the Group entered into a collaboration agreement with Everest, which is controlled by the ultimate controlling party of a principal shareholder of the Group. Under the agreement, both parties agreed to collaborate on programs to

co-develop

MorphoSys’ proprietary anti-CD38 antibody for all indications in hematologic oncology and commercialize of MOR202/TJ202 in Greater China.

A joint steering committee with equal representation from each party was established to coordinate and oversee the development and commercialization of the CD38 product. All decisions of the joint steering committee shall be made by unanimous vote.

Under the agreement, the Group is primarily responsible for carrying out the development, manufacture and supply of the CD38 product, as well as seeking regulatory approval of the CD38 product. Everest is primarily responsible for sharing the development costs of the CD38 product, including payments due to MorphoSys under the Licensing Agreement, dated November 30, 2017, in the proportion of 75% by Everest and 25% by the Group.

The joint steering committee will decide which party shall be responsible for conducting the commercialization of the CD38 product pursuant to the commercialization plan approved by the committee. If Everest is selected to be responsible for commercialization, the Group shall grant an exclusive royalty-free license to Everest to commercialize the CD38 product for all indications in hematologic oncology in Greater China.

The Group and Everest will share the profit and loss and

out-licensing

revenue derived from the CD 38 product in proportion to the costs that each party incur in developing the product. The parties will also split

out-license

revenue according to the proportion of development costs incurred, with the Group getting an additional five percent (5%) share and Everest receiving five percent (5%) less. Everest cannot share in any profit from the commercialization of CD38 product until it has fulfilled its payment obligations under this agreement.

Upon any termination of this arrangement, the terminating party has the right to continue the development and commercialization of CD38 product. If Everest is the rightful terminating party, the Group shall reasonably cooperate with Everest to facilitate the following: (i) assign the MorphoSys license to Everest (subject to the terms and conditions of such license); (ii) grant to Everest an exclusive license to all intellectual property rights that the Group owns or controls to further develop, manufacture, and commercialize the CD38 product; (iii) transfer the development, manufacture and commercialization of the CD38 product to Everest. The terminating party shall be solely responsible for the cost and expense of such development and commercialization after termination. In the event that such continuing party successfully develops and commercializes the CD38 product, it shall pay to the other party a percentage of the product profit and

out-license

revenue generated therefrom in accordance with the terms of this agreement.

During the year ended December 31, 2018, the US$26.0 million in aggregate proceeds from Everest under the agreement represented the funding available under the agreement, and was recorded as a research and development funding received liability (equivalent to approximately RMB178.7 million) on the consolidated balance sheet as of December 31, 2018, in accordance with ASC 730, Research and Development. Because there is a significant related party relationship between the Group and Everest, the Group is treating its obligation to make payments under the commercialization stage as an implicit obligation to repay the funds advanced by Everest (see Note 23). During the year ended December 31, 2019, an additional US$7.6million (equivalent to approximately RMB53.1 million) of funding was received and recorded as a research and development funding received liability. No additional milestone has been achieved in the year ended December 31, 2019.

Termination Agreement with Everest

On November 4, 2019, the Group and Everest have terminated the collaboration agreement with respect to the

co-development

and commercialization of TJ202 in Greater China. Upon the termination, Everest will not retain any rights or entitlements to develop or commercialize TJ202 or any economic interest in its commercialization. All intellectual property rights in respect of TJ202 arising from its development under the collaboration agreement are vested and owned by

I-Mab,

and the Group holds all intellectual property rights and have maximum flexibility to further develop, manufacture and commercialize TJ202 in Greater China. In consideration of the above arrangements, the board of directors of the Group has approved the issuance of a total value of US$37.0 million of ordinary shares (the “CPP Shares”) to Everest, representing Everest’s historical contribution to the collaboration and the associated time cost. The CPP Shares will be issued concurrently with, and subject to, the completion of the Company’s initial public offering within 180 days from termination of the collaboration agreement. The total value of US$37.0 million was calculated based on the sum of (1) US$33.7 million, which equals cumulative

paid-in

contributions historically made by Everest under the collaboration agreement; and (2) a negotiated US$3.3 million time cost of the foregoing historical contribution in light of

I-Mab’s

exclusive rights over the commercialization of TJ202 after this termination. The issuance of the CPP Shares was approved by

I-Mab’s

existing shareholders on December 25, 2019. In the event that the initial public offering has not been completed within 180 days from the termination of the collaboration agreement, the Company will issue 4,762,751 ordinary shares (the “Subject Shares”) to Everest on the 181st day. As a result of the aforementioned termination of the collaboration agreement with Everest, the Group derecognized the research and development funding received from Everest and recognized a liability that represented the ordinary shares to be issued to Everest, which was measured at fair value in accordance with ASC 480, and the difference of US$3.3 million (equivalent to approximately RMB23.0 million) between the initial fair value of the liability and the carrying amount of research and development funding received was recognized as other expenses in the consolidated statements of comprehensive loss for the year ended December 31, 2019. Upon the completion of the IPO in January 2020, the Group issued 6,078,571 ordinary shares to Everest.

Licensing Agreement with ABL Bio

In July 2018, the Group entered into a license and collaboration agreement with ABL Bio, under which the Group granted to ABL Bio exclusive, worldwide (excluding Greater China), royalty-bearing rights to develop and commercialize a bispecific antibody (“BsAb”).

The Group agreed to share costs fifty-fifty (50:50) with ABL Bio through the completion of in vivo studies, with ABL Bio responsible for all costs and activities following that time. For the year ended December 31, 2019, US$0.2 million (equivalent to approximately RMB1.4 million) expenses were incurred by ABL Bio. Accordingly, the Group recorded US$0.1 million (equivalent to approximately RMB0.7 million) (50% cost sharing) of expenses in the Group’s consolidated statement of comprehensive loss for the year ended December 31, 2019. For the year ended December 31, 2020, US$0.04 million (equivalent to approximately RMB0.28 million) expenses were incurred by ABL Bio. Accordingly, the Group recorded US$0.02 million (equivalent to approximately RMB0.14 million) (50% cost sharing) of expenses in the Group’s consolidated statement of comprehensive income for the year ended December 31, 2020.

Pursuant to the license and collaboration agreement that signed in July 2018 and memorandum of understanding that subsequently entered into with ABL Bio in January 2020, ABL Bio agreed to pay the Group an upfront fee of US$2.5 million (equivalent to approximately RMB17.2 million), and milestone payments in the aggregate amount of US$97.5 million (equivalent to approximately RMB690.3 million) conditioned upon achieving certain research, clinical development and sales milestones. These include clinical milestones of up to US$32.5 million (equivalent to approximately RMB230.1 million) and sales milestones of up to US$65 million (equivalent to approximately RMB460.2 million). Further, ABL Bio agreed to pay the Group royalties at

mid-single-digit

percentages in respect of the total annual net sales of the licensed BsAb product.

In addition, ABL Bio granted to the Group an exclusive, royalty-free, sublicensable license to use the BsAb technology solely to exploit the licensed BsAb product for all indications in Greater China.

The Group determined that this collaboration is reflective of a vendor-customer relationship and therefore within the scope of ASC 606. Under this agreement, the only one performance obligation was to grant the BsAb license to ABL Bio. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. Achievement of milestones that are not within the control of the Group or the licensee, such as regulatory approvals, are not considered probable until the approvals are achieved.

The Group recognized revenue of US$2.5 million (equivalent to RMB17.2 million) of revenue in the consolidated statements of comprehensive loss for the year ended December 31, 2018, which was the upfront fee related to the grant of the rights of BsAb to ABL Bio as mentioned above. As of December 31, 2020, no other milestone has been achieved. No revenue was recognized for the year ended December 31, 2019 ,2020.

On December 4, 2020,

I-Mab

Hong Kong, ABL Bio and

I-Mab

Hangzhou entered into an amendment, which is made effective as of September 15, 2020, that

I-Mab

Hong Kong, as the subject of the aforementioned licensing agreement, shall be replaced and substituted by

I-Mab

Hangzhou.

Collaboration Agreement with ABL Bio

In July 2018, the Group and ABL Bio entered into a collaboration agreement (the “ABL Bio Collaboration”) whereby both parties agreed to collaborate to develop three

PD-L1

based bispecific antibodies by using ABL Bio’s proprietary BsAb technology and commercialize them in their respective territories, which, collectively, include Greater China and South Korea, and other territories throughout the rest of the world if both parties agree to do so in such other territories during the performance of the agreement.

At contract inception, as both

I-Mab

and ABL Bio participate actively in the research and development activity. Also, the parties share the risk of failure of the BsAb products and share the income of licensing, so this contract meet the criteria of the definition of a collaborative arrangement, the Group categorized this agreement within the scope ASC 808. Prior to commercialization, the Group recorded the share of the expenses incurred by the collaboration for the development of three

PD-L1

based bispecific antibodies products in research and development expense in the consolidated statements of comprehensive income (loss). As of December 31, 2018, RMB1.0 million expenses were incurred by the Group and ABL Bio did not incur any expense. According to the terms set out in the agreement, the Group recorded RMB0.5 million (50% cost sharing) of expense in the Group’s consolidated statement of comprehensive loss for the year ended December 31, 2018. For the year ended December 31, 2019, RMB11.2 million expenses were incurred by the Group and RMB8.0 million expenses were incurred by ABL Bio. Accordingly, the Group recorded RMB9.6 million (50% cost sharing) of expenses in the Group’s consolidated statement of comprehensive loss for the year ended December 31, 2019. For the year ended December 31, 2020, RMB43.6 million expenses were incurred by the Group and RMB44.0 million expenses were incurred by ABL Bio. Accordingly, the Group recorded RMB43.8 million (50% cost sharing) of expenses in the Group’s consolidated statement of comprehensive income for the year ended December 31, 2020. For the year ended December 31, 2021, RMB27.9 million expenses were incurred by the Group and RMB20.7 million expenses were incurred by ABL Bio. Accordingly, the Group recorded RMB24.3 million (50% cost sharing) of expenses in the Group’s consolidated statement of comprehensive loss for the year ended December 31, 2021.

Collaboration Agreements with Tracon Pharmaceuticals, Inc. (“Tracon”)

In November 2018, the Group entered into collaboration agreements with Tracon, under which both parties agreed to

co-develop

the Group’s proprietary CD73 antibody, TJD5 (the “TJD5 Agreement”) and

co-develop

up to five BsAbs (the “BsAbs Agreement”). Both agreements may be terminated by either party for the other party’s uncured material breach, bankruptcy or insolvency or for safety reasons. In addition, the agreement in respect of TJD5 may be terminated by the Group: (i) for convenience within a certain period upon completing different clinical stages subject to certain payments and royalties, based on the clinical stage, that would be owed to Tracon upon the exercise of such termination for convenience; (ii) in the event that Tracon causes the Phase 1 study timeline to be delayed beyond the agreed extension periods; or (iii) if the Group decides to end the development of the collaborative product prior to its first commercial sale. Further, prior to the first commercial sale, Tracon may deem this agreement to be terminated by the Group if it reasonably believes that the Group has discontinued all meaningful development of the collaborative product for at least 12 months and certain other conditions are met. Additionally, in March 2019, the Group agreed with Tracon and F.

Hoffmann-La

Roche Ltd (“Roche”) on a clinical supply agreement for Roche to supply atezolizumab for use in clinical studies under the collaboration agreement with Tracon. As of December 31, 2019, no payments or royalties are due under this agreement. As of December 31, 2019, the Group has recorded US$4.0 million (equivalent to approximately RMB27.8 million) of research and development costs in the consolidated statement of comprehensive loss for the year ended December 31, 2019. As of December 31, 2020, the Group has recorded US$0.03 million (equivalent to approximately RMB0.17 million) of research and development costs in the consolidated statement of comprehensive income for the year ended December 31, 2020. As of December 31, 2021, the Group has recorded US$0.02 million (equivalent to approximately RMB0.11 million) of research and development costs in the consolidated statement of comprehensive loss for the year ended December 31, 2021.

In April 2020, Tracon issued a notice of dispute with respect to the TJD5 Agreement and the BsAbs Agreement. The disputes relating to the TJD5 Agreement and the BsAbs Agreement are the subject of a binding arbitration proceeding under the Rules of Arbitration of the International Chamber of Commerce before an arbitration tribunal. The arbitration tribunal held a hearing on the merits in February 2022. As of the date of this report, the disputes have not been resolved and the Group is not able to predict the likely outcome. The Group expects that the decision from the arbitration tribunal may be available in late 2022.

In February 2021, the Group sent Tracon a notice to terminate the TJD5 Agreement, which would result in a prespecified termination fee of US$9.0 million owing to Tracon. The Group accrued and recorded this termination fee of US$9.0 million (equivalent to approximately RMB58.0 million) as administrative expenses in the consolidated financial statements of comprehensive loss for the year ended December 31, 2021.

F-

Licensing Agreement with CSPC Pharmaceutical Group Limited (“CSPC”)

In December 2018, the Group entered into a product development agreement with CSPC. The Group granted to CSPC exclusive,

non-transferable,

non-irrevocable

and sublicensable rights in the PRC (excluding Hong Kong, Macau and Taiwan) to develop and commercialize TJ103 for treating type 2 diabetes.

CSPC is responsible for developing, obtaining market approval and commercializing the licensed products. The Group is responsible for transferring the manufacturing technology of the licensed products to CSPC and assisting CSPC in the continued optimization of such manufacturing technology thereafter.

In consideration of the license, CSPC agreed to pay the Group an upfront fee of RMB15.0 million and milestone payments in an aggregate amount of RMB135.0 million conditioned upon achieving certain clinical development and regulatory approval milestones. In addition, the Group is also entitled to royalties of up to

low-double-digit

percentages in respect of the total annual net sales of the products after its commercialization in the PRC. On January 31, 2022, the Group and CSPC entered into an amendment to revise the second milestone payment from RMB10 million to RMB8.5 million.

The Group determined that this collaboration is more reflective of a vendor-customer relationship and therefore within the scope of ASC 606. Under this agreement, the only one performance obligation was to grant TJ103 license to CSPC. Considering that the achievements of milestones are constrained such that the transaction price shall initially only include upfront payment and subsequently, once another milestone was achieved (that means when uncertainty associated with the variable consideration is subsequently resolved), the additional milestone payment shall be included in the total transaction price when it is no longer probable that a significant reversal of cumulative revenue would occur in future periods. As of December 31, 2018, the amount received of RMB14.2 million (net of VAT) was recorded as advance from customers in the consolidated balance sheet. In February 2019, an additional amount of RMB0.8 million (net of VAT) was received, and the license was also approved by China intellectual property office in May 2019. The first milestone was achieved in September 2019 and the amount of RMB15.0 million (net of VAT) was received according to the terms of the agreement. Accordingly, RMB30.0 million was recognized as revenue in the consolidated statements of comprehensive loss for the year ended December 31, 2019. No additional revenue was recognized in the year ended December 31, 2020 as no further milestone has been achieved. The second milestone was achieved in November 2021 and RMB8.5 million was recognized as revenue in the consolidated statements of comprehensive loss for the year ended December 31, 2021. As of December 31, 2021, the second milestone payment of RMB8.5 million was not received by the Group and recognized as accounts receivable in the consolidated balance sheet.

Strategic Alliance Agreement with PT Kalbe Genexine Biologics (“KG Bio”)

In March 2020, the Group entered into a strategic partnership with Kalbe Genexine Biologics (“KG Bio”) to grant a right of first negotiation for an exclusive license for the development and commercialization of two

I-Mab-discovered

product candidates: uliledlimab, a highly differentiated anti-CD73 antibody in Phase 1 development for advanced solid tumors (“First Program”), and an

I-Mab

product candidate (“Second Program”) to be agreed upon by both parties in certain regions. Through this agreement, both parties intend to negotiate the terms that will be reflected in definitive agreements for each prospective program covered under this agreement.

If and when the Group and KG Bio enter into the definitive licensing agreement, the Group will be eligible to receive from KG Bio an aggregate amount of up to approximately US$340 million, including an upfront payment and subsequent payments conditional upon achieving certain development and commercial milestones. KG Bio will pay the Group tiered royalties in the low to

mid-teen

percentages on net sales from certain regions. As the right of first negotiation has not been exercised and the definitive agreement has not been entered into as of December 31, 2020 and 2021, no revenue was recognized during the years ended December 31, 2020 and 2021.

Global Strategic Partnership with AbbVie

On September 3, 2020, the Group, through

I-Mab

Biopharma (Shanghai) Co., Ltd. and

I-Mab

Biopharma US Limited, each a wholly-owned subsidiary of the Group, entered into a broad global strategic partnership with AbbVie.

Pursuant to this collaboration, the Group will grant AbbVie a global license, excluding Mainland China, Macau, and Hong Kong, to develop and commercialize lemzoparlimab (also known as TJC4), an innovative anti-CD47 monoclonal antibody internally discovered and developed by

I-Mab

for the treatment of multiple cancers. The Group will retain all rights to develop and commercialize lemzoparlimab (as well as certain other compounds directed against CD47) in Mainland China, Macau, and Hong Kong. The Group is also responsible for performing the development activities at its sole cost and expense as outlined in the initial development plan. Such initial development activities consist of two studies, Study I and Study II. Study I is conducted in the United States evaluating lemzoparlimab in combination with pembrolizumab or rituximab in patients with relapsed or refractory solid tumors and lymphoma. Study II is conducted in Mainland China evaluating the safety, tolerability, pharmacokinetics, pharmacodynamics and preliminary efficacy of lemzoparlimab in patients with acute myeloid leukemia (AML) or myelodysplastic syndrome (MDS). AbbVie will conduct further global clinical trials (which the Group may elect to

co-fund)

to evaluate lemzoparlimab in multiple cancers.

Potential collaboration on future CD47-related therapeutic agents is also allowed for under this arrangement, including CD47-based bispecific antibodies and combination therapies with lemzoparlimab and AbbVie’s venetoclax (Venclexta

). Each party will have the opportunity, subject to rights of first negotiation to further licenses, to explore certain of each other’s related CD47-antibody programs in their respective territories.

A joint governance committee was established as set forth in the agreement, functioning as an oversight and governance mechanism. Both parties will participate in the joint governance committee to facilitate decision-making during the terms of the collaborative endeavor. Furthermore, the Group and AbbVie will share manufacturing responsibilities, with AbbVie having the opportunity to manufacture supply outside of Mainland China, Hong Kong and Macau and the Group being the primary manufacturer for supply for Mainland China, Hong Kong and Macau.

Upon the satisfaction of all the

pre-effect

date covenants, the collaborative agreement took effect on December 10, 2020, on which date the Group was entitled to a

non-refundable

upfront payment of US$180 million. In addition,

the Group has received milestone payment of US$20 million from AbbVie and is eligible

to receive up to US$1.74 billion in further success-based development, regulatory and sales milestone payments for lemzoparlimab, of which US$840 million are based on clinical development and regulatory approval milestones, with the remainder based on commercial milestones. Upon commercialization of lemzoparlimab, AbbVie will also pay tiered royalties from

low-to-mid

teen double-digit percentages on global net sales outside of Mainland China, Macau, and Hong Kong.

The Group identified three performance obligations: (1) grant of lemzoparlimab license upon the effective date, (2) delivering the Study I initial development services, and (3) delivering the Study II initial development services. The total transaction price under the agreement for the years ended December 31, 2020 and 2021 is US$250 million consisting of (i) the upfront payment of US$180 million upon the effective date, (ii) the first milestone payment of US$20 million upon the achievement of the first milestone event in late December 2020, and (iii) the second milestone payment of US$50 million as of December 31, 2020 and 2021 as the Group deemed that the achievement of the second milestone event is probable as of December 31, 2020 and 2021 that a significant reversal of revenue would not occur. The achievements of the remaining development and regulatory based milestone events are constrained as of December 31, 2020 and 2021, and will be included in the transaction price when uncertainty associated with the variable consideration is subsequently resolved. Sales-based milestones and royalties will be recognized when the subsequent sales occur.

The

non-constrained

consideration of US$250 million is then allocated to the three performance obligations based on the relative stand-alone selling price. For the grant of lemzoparlimab license, the Group adopted an income approach based on key assumptions and several factors including, but not limited to estimated market demand, stand-alone selling price by making reference to market comparable, development timeline, regulatory risks, future revenue potential and discount rate. The allocated price is US$228.8 million. The entire US$228.8 million (equivalent to approximately RMB1,502.9 million) was recognized as revenue at the point of the license transfer at the effective date. For the Study I and Study II initial development services, a cost-plus margin approach is utilized. The allocated price to Study I and Study II is US$11.0 million and US$10.2 million respectively. These two performance obligations are determined to be satisfied over time. The Group uses a

cost-to-cost

input method to measure progress as that method best depicts the transfer of the two performance obligations under the agreement. As of December 31, 2020, the cumulative percentages complete in the

cost-to-cost

input method for Study I and Study II were estimated to approximate 17% and 41% respectively. As a result, US$1.8 million (equivalent to approximately RMB12.0 million) and US$4.2 million (equivalent to approximately RMB27.8 million) were recognized as revenue for the year ended December 31, 2020 in the consolidated statement of comprehensive income for Study I and Study II respectively, resulting in a contract asset of US$34.8 million

(RMB 227.4 million) for

this agreement as of December 31, 2020 in the consolidated balance sheets. As of December 31, 2020, the upfront payment of US$180 million was received by the Group. The 1st milestone payment of US$20 million was subsequently collected by the Group in March 2021. As of December 31, 2021, the cumulative percentages complete in the

cost-to-cost

input method for Study I and Study II were estimated to approximate 53% and 51% respectively. As a result, US$4.0 million (equivalent to approximately RMB25.6 million) and US$0.9 million (equivalent to approximately RMB6.0 million) were recognized as revenue for the year ended December 31, 2021 in the condensed consolidated financial statements of comprehensive loss for Study I and Study II respectively, resulting in an addition of contract asset of US$4.9 million (equivalent to approximately RMB31.6 million)

for this agreement, and the total contract asset related to this agreement was US$39.7 million (RMB 253.8 million) as of December 31, 2021.

Strategic collaboration with Jumpcan

On November 10, 2021, the Group entered into a strategic collaboration agreement (the “Jumpcan Agreement”) with Jumpcan Pharmaceutical Group (“Jumpcan”), a China pharmaceutical company specialized in and committed to pediatric medicines, for the development, manufacturing and commercialization of

I-Mab’s

highly differentiated long-acting recombinant human growth hormone, eftansomatropin alfa (the “TJ101” and “Licensed Product”) in mainland China (the “Territory”).

Under the collaboration agreement,

I-Mab

will continue to lead the ongoing registrational Phase 3 clinical trial of eftansomatropin alfa in pediatric growth hormone deficiency (PGHD). The two companies will share costs of manufacturing tech transfer, process optimization and new formulation development.

I-Mab

will be the marketing authorization holder (MAH) of the product and supply the product at agreed cost to Jumpcan. Jumpcan will be responsible for commercializing the product and developing new indications in collaboration with

I-Mab

in mainland China.

I-Mab

will provide clinical, manufacturing and academic support.

According to the terms of the collaboration agreement, Jumpcan will make an upfront payment of RMB 224 million to

I-Mab

and, upon achievement of development, registration and sales milestones, certain milestone payments of up to RMB 1.792 billion, making the

non-royalty

payments a total of up to RMB 2.016 billion. In addition,

I-Mab

and Jumpcan will share profits generated from commercialization of the product in mainland China on a 50/50 basis, pursuant to which

I-Mab

will be entitled to receive tiered low double-digit royalties on net sales.

The Group performed assessment and concluded that all the promise identified, including the grant of the license to Jumpcan, Phase III clinical trial in PGHD and CMC development under the Jumpcan Agreement have been bundled into a single performance obligation. The amounts of the transaction price allocable to this performance obligation are deferred until the control of the manufactured commercial drug product has begun to transfer to Jumpcan. For the year ended December 31, 2021, the Group received the upfront fee of RMB224 million from Jumpcan and recorded it as contract liabilities in the consolidated balance sheet.

Related Party Balances and Transactions

12 Months Ended

Dec. 31, 2021

Related Party Balances and Transactions

23. RELATED PARTY BALANCES AND TRANSACTIONS

The table below sets forth the major related parties and their relationships with the Group as of December 31, 2020 and 2021:


Name of related parties		Relationship with the Group
Everest		Controlled by the ultimate controlling party of a principal shareholder of the Group

CMAB Biopharma (Suzhou) Inc.		Controlled by the ultimate controlling party of a principal shareholder of the Group before April 30, 2021

Tasly Pharmaceutical Group Co., Ltd.		Controlled by the ultimate controlling party of a principal shareholder of the Group before December 9, 2021

Jiangsu Taslydiyi Pharmaceutical Co., Ltd.		Controlled by the ultimate controlling party of a principal shareholder of the Group before December 9, 2021

I-Mab Biopharma (Hangzhou) Co., Limited		Subsidiary of the Group before September 15, 2020; Affiliate of the Group after September 15, 2020

Details of related party balances as of December 31, 2020 and 2021 are as follows:

Prepayments and other receivables


	As of December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
I-Mab Hangzhou		21,212		8,079		1,268

Accruals and other payables


	As of December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
Jiangsu Taslydiyi Pharmaceutical Co., Ltd.		2,395		5,092		799

Details of related party transactions for the years ended December 31, 2019, 2020 and 2021 are as follows:

Receipt of CRO and CMC services - recognized in research and development expenses


	For the year ended December 31,
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
CMAB Biopharma (Suzhou) Inc.		—		681		—		—
Jiangsu Taslydiyi Pharmaceutical Co., Ltd.		—		2,395		2,697		423
Tasly Pharmaceutical Group Co., Ltd.		5,590		—		—		—
I-Mab Hangzhou		—		—		2,465		387

Receipt of research and development funding


	For the year ended December 31,
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
Everest (Note 18)		53,148		—		—		—

Collection of loan to an affiliate


	For the year ended December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
I-Mab Hangzhou (4)		52,000		—		—

(4)	In July 2019 and July 2020, I-Mab Shanghai provided an interest free loan to I-Mab Hangzhou of RMB2,000 and RMB50,000 respectively to finance I-Mab Hangzhou’s operation. These loans were repaid in November 2020.

Expenses paid on behalf of an affiliate


	For the year ended December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
I-Mab Hangzhou		21,212		17,649		2,770

Provision of FTE and other services - recognized in other income


	For the year ended December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
I-Mab Hangzhou		—		11,691		1,834

Amounts received on behalf of an affiliate


	For the year ended December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
I-Mab Hangzhou		—		281		44

Amounts received related to the sublicense agreement


	For the year ended December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
I-Mab Hangzhou (5)		—		19,102		2,998

(5)

In November 2016, the Company, as the licensee, entered into a license and sublicense agreement with Ferring International Center SA (“Ferring”), with respect to Olamkicept (TJ301), a potential highly differentiated IL-6 blocker for ulcerative colitis and other autoimmune diseases (the “Ferring Agreement”). Under the Ferring Agreement, Ferring granted to I-Mab an exclusive license to research, commercially develop, make, import, use, sell, dispose of, offer to sell or dispose of the licensed product in China (including Hong Kong, Macau), Taiwan and Korea. In July 2018, the Company sub-licensed the above license to I-Mab Hong Kong. In September 2020, I-Mab Hong Kong agreed to assign all rights and obligations/ownership of Target Pipelines (including TJ301) to I-Mab Hangzhou (see Note 10 (a)). The rights and interests of TJ301 were exclusively sublicensed to I-Mab Hangzhou. In the second half year of 2021, I-Mab Hangzhou achieved one of the development milestones by completing the Phase IIA study report in China. Upon the achievement of the milestone, I-Mab Hangzhou made a milestone payment with the amount of US$3 million to I-Mab Hong Kong. As I-Mab Hangzhou’s payment of US$3 million is just passthrough payment to I-Mab, and will be eventually paid to Ferring, which does not have any financial impact to I-Mab. The Company recorded it as a payable to Ferring in the consolidated balance sheets for the year ended December 31, 2021.

Amounts paid by an affiliate on behalf of the Group


	For the year ended December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
I-Mab Hangzhou		—		25,448		3,993

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Ordinary Shares Par Value	$ 0.0001	$ 0.0001		$ 0.0001	$ 0.0001
Ordinary Shares Authorized	800,000,000	800,000,000	500,000,000	500,000,000
Ordinary Shares Issued	183,826,753	164,888,519
Ordinary Shares Outstanding	183,826,753	164,888,519

Net Income (Loss) per Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Summary of Basic and Diluted Net Loss per Share

Basic and diluted net income (loss) per share for each of the periods presented are calculated as follows:


	Year Ended December 31
	2019			2020		2021
	RMB			RMB		RMB			US$ (Note 2.5)
	(in thousands, except for share and per share data)
Numerator:
Net income (loss) attributable to I-Mab		(1,451,950	)		470,915		(2,331,541	)		(365,870	)
Deemed dividend to Series C-1 preferred shareholders at extinguishment of Series C-1 Preferred Shares		(5,283	)		—		—			—
Deemed dividend to Series B-1, B-2 and C preferred shareholders at modification of Series B-1, B-2 and C Preferred Shares		(27,768	)		—		—			—

Net income (loss) attributable to ordinary shareholders		(1,485,001	)		470,915		(2,331,541	)		(365,870	)

Denominator:
Denominator for basic calculation-weighted average number of common shares outstanding		7,381,230			134,158,824		174,707,055			174,707,055
Dilutive effect of convertible preferred shares		—			4,373,047		—			—
Dilutive effect of ordinary shares to be issued to Everest		—			266,458		—			—
Dilutive effect of convertible promissory notes		—			865,479		—			—
Dilutive effect of restricted shares units		—			778,130		—			—
Dilutive effect of stock options		—			16,789,714		—			—

Denominator for diluted income (loss) per share calculation		7,381,230			157,231,652		174,707,055			174,707,055

Net income (loss) per share - basic		(201.19	)		3.51		(13.35	)		(2.09	)
Net income (loss) per share - diluted		(201.19	)		3.00		(13.35	)		(2.09	)

Summary of Antidilutive Securities Excluded from Computation of Earnings Per Share


	Year Ended December 31
	2019		2021
Convertible preferred shares		92,238,119		—
Restricted shares		—		3,150,881
Stock options		11,388,776		14,584,833
Warrants		—		648,359

Net Income (Loss) per Share - Summary of Antidilutive Securities Excluded from Computation of Earnings per Share (Detail) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2019
Convertible Preferred Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities that have not been included in calculation of diluted net loss per share		92,238,119
Restricted Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities that have not been included in calculation of diluted net loss per share	3,150,881
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities that have not been included in calculation of diluted net loss per share	14,584,833	11,388,776
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities that have not been included in calculation of diluted net loss per share	648,359

Accruals And Other Payables - Additional Information (Details) ¥ in Thousands, $ in Thousands	1 Months Ended		12 Months Ended
	Apr. 30, 2020 CNY (¥)	Apr. 30, 2020 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Nov. 30, 2021 CNY (¥)
Payables and Accruals [Abstract]
Proceeds from non-refundable incentive	¥ 12,982	$ 1,857
Other income			¥ 2,395	¥ 2,348
Proceeds from non refundable payment					¥ 10,000

Goodwill - Additional Information (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Jul. 15, 2017
Indefinite-lived Intangible Assets [Line Items]
Goodwill	¥ 162,574	$ 25,511	¥ 162,574
Goodwill, accumulated impairment loss	¥ 0		¥ 0
Tasgen Group [Member]
Indefinite-lived Intangible Assets [Line Items]
Voting Interests Acquired				66.67%

Other Income (Expenses), Net - Summary of Other Income (Expenses), Net (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)
Other Income and Expenses [Abstract]
Loss on termination agreement with Everest				¥ (23,039)
Income of incentive payment from depository bank	¥ 2,395	$ 376	¥ 2,348
Fair value change of short-term investments	30,360	4,764	11,288	703
Fair value change of put right liabilities	16,628	2,609	3,024
Net foreign exchange gains (losses)	25,373	3,982	(22,126)	1,619
Subsidy income	9,216	1,446	11,633	568
Gains on deconsolidation of a subsidiary			407,598
Fair value change of other financial assets				42
Others	(810)	(127)	(873)	(98)
Other Income (Expenses), Net	¥ 83,162	$ 13,050	¥ 412,892	¥ (20,205)

Principal Accounting Policies - Summary of Estimated Useful Lives (Detail)	12 Months Ended
	Dec. 31, 2021
Laboratory Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Laboratory Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Software [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	1 year
Software [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Office furniture and equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 days
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Estimated Useful Lives	Lesser of useful life or lease term

Inventories - Summary Of Inventories Consist (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)
Inventory Disclosure [Abstract]
Investigational products	¥ 27,237	$ 4,274	¥ 0

Consolidated Statements of Comprehensive Income (Loss) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥) ¥ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 CNY (¥) ¥ / shares shares	Dec. 31, 2019 CNY (¥) ¥ / shares shares
Revenues
Revenues	¥ 88,026	$ 13,813	¥ 1,542,668	¥ 30,000
Cost of revenues	(46,432)	(7,286)	0	0
Expenses
Research and development expenses	(1,212,958)	(190,340)	(984,689)	(840,415)
Administrative expenses	(899,943)	(141,221)	(402,409)	(654,553)
Income (loss) from operations	(2,071,307)	(325,034)	155,570	(1,464,968)
Interest income	21,333	3,348	24,228	30,570
Interest expense	0	0	(957)	(2,991)
Other income (expenses), net	83,162	13,050	412,892	(20,205)
Equity in loss of an affiliate	(367,883)	(57,729)	(108,587)	0
Fair value change of warrants	0	0	0	5,644
Income (loss) before income tax expense	(2,334,695)	(366,365)	483,146	(1,451,950)
Income tax benefit (expense)	3,154	495	(12,231)	0
Net income (loss) attributable to I-MAB	(2,331,541)	(365,870)	470,915	(1,451,950)
Net income (loss) attributable to ordinary shareholders	(2,331,541)	(365,870)	470,915	(1,485,001)
Net income (loss) attributable to I-MAB	(2,331,541)	(365,870)	470,915	(1,451,950)
Other comprehensive income (loss):
Foreign currency translation adjustments, net of nil tax	(135,717)	(21,297)	(120,920)	10,747
Total comprehensive income (loss) attributable to I-MAB	(2,467,258)	(387,167)	349,995	(1,441,203)
Net income (loss) attributable to ordinary shareholders	¥ (2,331,541)	$ (365,870)	¥ 470,915	¥ (1,485,001)
Weighted-average number of ordinary shares used in calculating net income (loss) per share - basic	174,707,055	174,707,055	134,158,824	7,381,230
Weighted-average number of ordinary shares used in calculating net income (loss) per share - diluted	174,707,055	174,707,055	157,231,652	7,381,230
Net income (loss) per share attributable to ordinary shareholders
—Basic \| (per share)	¥ (13.35)	$ (2.09)	¥ 8.07	¥ (462.74)
—Diluted \| (per share)	¥ (13.35)	$ (2.09)	¥ 6.90	¥ (462.74)
Licensing and Collaboration [Member]
Revenues
Revenues	¥ 40,115	$ 6,295	¥ 1,542,668	¥ 30,000
Supply of Investigational Products [Member]
Revenues
Revenues	¥ 47,911	$ 7,518	¥ 0	¥ 0

Leases - Operating Lease Related Assets And Liabilities And Other Related Information (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Jan. 01, 2019 CNY (¥)
Assets
Operating lease right-of-use assets	¥ 112,781	$ 17,698	¥ 14,997	¥ 13,100
Liabilities
Operating lease liabilities, current	30,669	4,813	8,058
Operating lease liabilities, non-current	¥ 81,786	$ 12,834	¥ 5,542
Weighted average remaining lease term (years)	3 years 7 months 6 days	3 years 7 months 6 days	1 year 8 months 12 days
Weighted average discount rate	5.00%	5.00%	5.00%

Convertible Promissory Notes And Onshore Convertible Loans	12 Months Ended
	Dec. 31, 2021
Convertible Promissory Notes And Onshore Convertible Loan [Abstract]
Convertible promissory notes and onshore convertible loans	15. CONVERTIBLE PROMISSORY NOTES AND ONSHORE CONVERTIBLE LOANS 2018 Notes On February 3, 2018, the Company issued US$9,000 (equivalent to approximately RMB59,704) convertible promissory notes (“2018 Notes”) to Genexine, Inc. of Series A-3 Preferred Shares at an annual interest rate of 0%, maturing on 36 months after the issuance date. Under the agreement, the holder of the 2018 Notes may convert the 2018 Notes outstanding principal amount into Series B-1 Preferred Shares at the conversion price being lower of US$10 per share and fair market value at any time prior to the maturity date. Alternatively, the 2018 Notes shall be automatically converted into the Company’s Series B Preferred Shares upon the maturity. As the fair value of the Company’s ordinary shares on February 3, 2018 of US$3.96 was equal to the effective conversion price (being lower of US$10 per share and fair market value), the Company did not record a BCF. On December 17, 2020, the Group issued 900,000 ordinary shares to Genexine, Inc. upon the full conversion of the 2018 Notes with the conversion price of US$10 per share.

Licensing and Collaboration Agreements (Tables)

12 Months Ended

Dec. 31, 2021

Licensing Agreement with MorphoSys AG [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Licensing And Collaboration Arrangements Summarized Financial Information Disclosure

Summarized financial information related to the above agreement is presented below:


	Year ended December 31,								As of December 31,
	Research and Development Expense
	Upfront Fees		Milestones		Extension/Termination of agreements		Amortization of prepaid research and development		Intangible asset balance
2021		—		—		—		—		—
2020		—		—		—		—		—
2019		—	US$	8,000		—		—		—

Licensing Agreement with MorphoSys [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Licensing And Collaboration Arrangements Summarized Financial Information Disclosure

Summarized financial information related to the above agreement is presented below:


	Years Ended December 31,								As of December 31,
	Research and Development Expense
	Upfront Fees		Milestones		Extension/ Termination of agreements		Amortization of prepaid research and development		Intangible asset balance
2021		—	US$	1,500		—		—		—
2020		—	US$	1,000		—		—		—
2019		—		—		—		—		—

Licensing Agreement with Macro Genics [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Licensing And Collaboration Arrangements Summarized Financial Information Disclosure

Summarized financial information related to the above agreement is presented below:


	Year ended December 31,								As of December 31,
	Research and Development Expense
	Upfront Fees		Milestones		Extension/Termination of agreements		Amortization of prepaid research and development		Intangible asset balance
2021		—	US$	4,484		—		—		—
2020		—		—		—		—		—
2019	US$	15,000		—		—		—		—

Income Taxes - Reconciliations of the Differences Between the PRC Statutory Income Tax Rate and the Group's Effective Income Tax Rate (Detail) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥) ¥ / shares	Dec. 31, 2021 USD ($) $ / shares	Dec. 31, 2020 CNY (¥) ¥ / shares	Dec. 31, 2019 CNY (¥) ¥ / shares
Income (loss) before income tax	¥ (2,334,695)	$ (366,365)	¥ 483,146	¥ (1,451,950)
Income tax computed at respective applicable tax rate	(410,899)	(64,479)	66,044	(148,871)
Non-deductible expenses	68,400	10,733	72,256	87,021
Research and development expenses plus deduction	(50,530)	(7,929)	(60,776)	(9,254)
True up of withholding tax expenses	(3,154)	(495)	0	0
Changes in valuation allowance	393,029	61,675	(65,293)	71,104
Income Tax Expense	¥ (3,154)	$ (495)	¥ 12,231	¥ 0
Effect of tax holidays entitled by the PRC subsidiaries on basic income (loss) per share \| (per share)	¥ (0.84)	$ (0.13)	¥ 0.34	¥ 9.55

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123384075&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Investment Accounted for Using the Equity Method and Put Right Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Investments Accounted For Using The Equity Method And Put Right Liabilities [Abstract]

Summary of Group Long term Investment Measured Under Equity method

The Group presented the summarized financial information of the Group’s long-term investment measured under equity method below in accordance with Rule

4-08

of Regulation

S-X

(RMB in thousands).


	For the period from September 15, 2020 to December 31, 2020			For the year ended December 31, 2021
	I-Mab Hangzhou			I-Mab Hangzhou			Other equity investments
Operating data:
Revenue		271			5,660			—
Loss from operations		(85,945	)		(295,186	)		(3,513	)
Net Loss		(85,945	)		(290,586	)		(3,513	)


	As of December 31,		As of December 31,
	2020		2021
	I-Mab Hangzhou		I-Mab Hangzhou		Other equity investments
Balance sheet data:
Current assets		923,010		602,047		20,037
Non-current assets		810,623		1,207,132		40,000
Current liabilities		31,519		168,763		50
Non-current liabilities		10,933		176,436		—
Non-controlling interests		—		—		—

Summary of Estimate the Fair Value of the Put Right Using the Following Assumptions

The Group determined the fair value of the put right with the assistance of an independent third-party valuation firm. The Group used the option pricing model (finnerty model) to estimate the fair value of the put right using the following assumptions:


	As of December 31,			As of December 31,
	2020			2021
Expected terms (Year)		3.7			2.7
Estimated volatility		55.9	%		34.5	%
Spot price	US$	143,804		US$	171,134
Probability of triggering event for redemption option		65	%		70	%

Prepayments And Other Receivables

12 Months Ended

Dec. 31, 2021

Prepaid Expense and Other Assets, Current [Abstract]

Prepaid Expenses And Other Receivables

5. PREPAYMENTS AND OTHER RECEIVABLES


	As of December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
Prepayments:
- Prepayments to CRO vendors		83,140		79,568		12,486
- Prepayments for other services		2,550		906		142
- Prepayments to an affiliate (Note 23)		—		8,079		1,268
Receivables due from an affiliate (Note 23)		21,212		—		—
Value-added tax recoverable		63,664		89,578		14,057
Rental deposits		1,766		616		97
Interest receivables		236		—		—
Others		22,899		12,077		1,894

		195,467		190,824		29,944

Principal Accounting Policies - Summary of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)
Assets [Abstract]
Short-term Investments	¥ 753,164	$ 118,188	¥ 31,530
Liabilities [Abstract]
Put right liabilities	96,911	$ 15,207	116,006
Fair Value, Recurring [Member]
Assets [Abstract]
Short-term Investments	753,164		31,530
Liabilities [Abstract]
Put right liabilities	96,911		116,006
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Assets [Abstract]
Short-term Investments	753,164		31,530
Liabilities [Abstract]
Put right liabilities	¥ 96,911		¥ 116,006

Related Party Balances and Transactions - Summary of Related Party Balances (Detail) ¥ in Thousands, $ in Thousands	4 Months Ended	12 Months Ended
	Dec. 31, 2020 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2021 USD ($)
Related Party Transaction [Line Items]
Collection of loan to an affiliate				¥ 21,212
Other Income		¥ 2,395		2,348
I-Mab Hangzhou [Member]
Related Party Transaction [Line Items]
Other receivables		8,079		21,212	$ 1,268
Collection of loan to an affiliate				52,000
Expenses paid on behalf of an affiliate		17,649		21,212	2,770
Proceeds from Contributions from Affiliates	$ 30,000	281	$ 44
Proceeds received related to sublicense agreement		19,102	2,998
Payments made by affiliate on behalf of the group		25,448	3,993
Jiangsu Taslydiyi Pharmaceutical Co Ltd [Member]
Related Party Transaction [Line Items]
Accruals and other payables		5,092		¥ 2,395	$ 799
Provision Of FTA Related Services [Member] \| I-Mab Hangzhou [Member]
Related Party Transaction [Line Items]
Other Income		¥ 11,691	$ 1,834

Accounts Receivable And Contract Assets - Summary of Accounts receivable and contract assets, net of allowance for credit losses (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)
Accounts Receivable
Accounts receivable, gross	¥ 33,081	$ 5,191	¥ 130,498
Allowance for credit losses
Accounts receivable, net	33,081	5,191	130,498
Contract with Customer, Asset, after Allowance for Credit Loss, Current [abstract]
Contract assets, gross	253,780	39,824	227,391
Allowance for credit losses
Contract assets, net	¥ 253,780	$ 39,824	¥ 227,391

Licensing And Collaboration Arrangements - Summary of Financial Information (Detail) - Research and Development Expense [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Licensing Agreement with MorphoSys AG [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestones			$ 8,000
Licensing Agreement with MorphoSys [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestones	$ 1,500	$ 1,000
Licensing Agreement with MacroGenics [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront Fees			$ 15,000
Milestones	$ 4,484

Share-Based Compensation - Summary of Valuation Assumptions Used (Detail)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	34.50%	55.90%
Time to maturity (in years)	2 years 8 months 12 days	3 years 8 months 12 days
2018 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility			54.64%
Expected volatility, Maximum			56.31%
Expected volatility, Minimum			54.64%
Risk-free interest rate (per annum)			2.15%
Risk-free interest rate, Maximum			2.75%
Risk-free interest rate, Minimum			2.15%
Exercise multiple			2.80
Time to maturity (in years)			10 years
2019 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility		54.88%
Risk-free interest rate (per annum)		0.79%
Exercise multiple		2.80
Expected dividend yield
Time to maturity (in years)		10 years
2020 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility		56.51%
Risk-free interest rate (per annum)		0.86%
Exercise multiple, Maximum		2.20
Exercise multiple, Minimum		2.80
Time to maturity (in years)		10 years
2021 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility, Maximum	54.37%
Expected volatility, Minimum	51.77%
Risk-free interest rate, Maximum	1.68%
Risk-free interest rate, Minimum	1.44%
Exercise multiple, Maximum	2.2
Exercise multiple, Minimum	2.80
Time to maturity (in years)	10 years

Accruals And Other Payables

12 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

Accruals and other Payables

11. ACCRUALS AND OTHER PAYABLES


	As of December 31,		As of December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
Current:
Staff salaries and welfare payables		94,133		52,526		8,242
Accrued external research and development activities related expenses		218,583		367,976		57,743
Accrued cost in relation to planned dual listing		2,010		4,793		752
Accrued private placement offering costs payable		128,786		—		—
Termination fee (Note 18)		—		57,381		9,004
Non-refundable incentive payment from depositary bank (1)		2,424		2,369		372
Accrued traveling expenses, office expenses and others		114,622		108,290		16,994

		560,558		593,335		93,107

Non-current:
Non-refundable incentive payment from depositary bank (1)		7,474		4,934		774
Non-refundable payment received in relation to the exclusive promotion right granted to a third party (2)		—		10,000		1,569
Advance payment received from an employee for exercise of stock options		1,501		—		—

		8,975		14,934		2,343

Total		569,533		608,269		95,450

(1)

The Group received a

non-refundable

incentive payment of US$1,857 (equivalent to approximately RMB12,982) from depositary bank in April 2020. The amount was recorded ratably as other gains over a five-year arrangement period. For the years ended December 31, 2020 and 2021, the Group has recorded RMB2,348 and RMB2,395 as other income in the consolidated statements of comprehensive income (loss) respectively.

(2)

In November 2021, the Group entered into a collaboration agreement with a third party located in China to grant the third party an exclusive right to conduct promotion activities for the TJ202 drug products in designated hospitals after the commercialization of TJ202 in future years. In November 2021, the Group received a

non-refundable

payment of RMB10,000 from the third party and recorded it as the

non-current

liabilities in the consolidated balance sheet as of December 31, 2021. This amount will be recorded as the deduction of the selling expenses after the commercialization of TJ202 products.

Investments Accounted for Using the Equity Method and Put Right Liabilities - Additional Information (Detail) ¥ in Thousands, $ in Thousands	4 Months Ended		12 Months Ended
	Dec. 31, 2020 CNY (¥) shares	Dec. 31, 2020 USD ($)	Dec. 31, 2021 CNY (¥) shares	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥) shares	Dec. 31, 2019 CNY (¥)	Dec. 31, 2021 USD ($) shares	Aug. 31, 2021 CNY (¥)	Jul. 31, 2021 shares	Sep. 15, 2020 CNY (¥)	Jun. 16, 2019 CNY (¥)
Schedule of Equity Method Investments [Line Items]
Disposal of an equity method investment					¥ 407,598
Common stock, shares outstanding \| shares	164,888,519		183,826,753		164,888,519		183,826,753
Equity in loss of affiliate			¥ (367,883)	$ (57,729)	¥ (108,587)	¥ 0
Investments in subsidiaries	¥ 664,832		¥ 352,106		¥ 664,832		$ 55,253
I-Mab Hangzhou [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment fair value							112,039			¥ 764,352
Assets recognized value \| $							$ 105,000
Equity method investment, Ownership percentage			10.00%				10.00%
Amounts received on behalf of an affiliate		$ 30,000	¥ 281	44
Common stock, shares outstanding \| shares	25,500,000				25,500,000
Purchase price committed \| $							$ 3,000
Investments in subsidiaries	¥ 664,832		346,247		¥ 664,832
Imab Hong Kong [member]
Schedule of Equity Method Investments [Line Items]
Registered capital of subsidiary											¥ 30,000
Common stock, shares outstanding \| shares	13,500,000				13,500,000
Management Holdco [Member] \| I-Mab Hangzhou [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, Ownership percentage	10.00%				10.00%
Equity in loss of affiliate	¥ 8,456		¥ 28,236
Shares subscribed,not yet been purchased or issued \| shares	4,500,000				4,500,000
Shares, Issued \| shares			750,000				750,000
Registered capital of affiliates \| $							$ 3,000
Cash Commitment \| $				3,000
Esop Holdco [Member] \| I-Mab Hangzhou [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, Ownership percentage	5.00%		5.00%		5.00%		5.00%
Registered capital of affiliates \| $							$ 1,500
Domestic Investors [Member]
Schedule of Equity Method Investments [Line Items]
Common stock, shares outstanding \| shares	12,000,000				12,000,000
Domestic Investors [Member] \| I-Mab Hangzhou [Member]
Schedule of Equity Method Investments [Line Items]
Registered capital of subsidiary \| $							$ 12,000
Equity method investment, Ownership percentage	40.00%		40.00%		40.00%		40.00%
Cash Payments \| $				$ 120,000
Imab Hong Kong [member] \| I-Mab Hangzhou [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, Ownership percentage	45.00%				45.00%
HLBV Method [Member] \| I-Mab Hangzhou [Member]
Schedule of Equity Method Investments [Line Items]
Equity in loss of affiliate	¥ 67,425		¥ 309,208
Group's Share Based Compensation [Member] \| I-Mab Hangzhou [Member]
Schedule of Equity Method Investments [Line Items]
Equity in loss of affiliate			13,267		¥ 32,707
Partnership Agreement [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, Ownership percentage									4.00%
Equity in loss of affiliate			141
Shares subscribed,not yet been purchased or issued \| shares									20,000
Investments in subsidiaries			5,859					¥ 6,000
I-Mab Hangzhou Share Based Compensation [Member] \| I-Mab Hangzhou [Member]
Schedule of Equity Method Investments [Line Items]
Equity in loss of affiliate			¥ 17,031

Net Income (Loss) per Share - Summary of Basic and Diluted Net Loss per Share (Detail) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥) ¥ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 CNY (¥) ¥ / shares shares	Dec. 31, 2019 CNY (¥) ¥ / shares shares
Numerator:
Net income (loss) attributable to I-Mab	¥ (2,331,541)	$ (365,870)	¥ 470,915	¥ (1,451,950)
Deemed dividend to Series C-1 preferred shareholders at extinguishment of Series C-1 Preferred Shares \| ¥				(5,283)
Deemed dividend to Series B-1, B-2 and C preferred shareholders at modification of Series B-1, B-2 and C Preferred Shares \| ¥				(27,768)
Net income (loss) attributable to ordinary shareholders	¥ (2,331,541)	$ (365,870)	¥ 470,915	¥ (1,485,001)
Denominator:
Denominator for basic calculation-weighted average number of common shares outstanding	174,707,055	174,707,055	134,158,824	7,381,230
Dilutive effect of convertible preferred shares			4,373,047
Dilutive effect of ordinary shares to be issued to Everest			266,458
Dilutive effect of convertible promissory notes			865,479
Dilutive effect of restricted shares units			778,130
Dilutive effect of stock options			16,789,714
Denominator for diluted income (loss) per share calculation	174,707,055	174,707,055	157,231,652	7,381,230
Net income (loss) per share - basic \| (per share)	¥ (13.35)	$ (2.09)	¥ 8.07	¥ (462.74)
Net income (loss) per share - diluted \| (per share)	¥ (13.35)	$ (2.09)	¥ 6.90	¥ (462.74)

Convertible Preferred Shares - Additional Information (Detail) $ / shares in Units, ¥ in Thousands														11 Months Ended		12 Months Ended
	Dec. 25, 2019 USD ($) $ / shares	Nov. 06, 2019 CNY (¥) shares	Nov. 06, 2019 USD ($) shares	Oct. 17, 2019 CNY (¥) shares	Oct. 17, 2019 USD ($) shares	Jul. 06, 2018 CNY (¥)	Jul. 06, 2018 USD ($) $ / shares shares	Sep. 22, 2017 CNY (¥) shares	Sep. 22, 2017 USD ($) shares	Sep. 06, 2017 CNY (¥)	Sep. 06, 2017 USD ($) $ / shares shares	Oct. 18, 2016 CNY (¥) shares	Oct. 18, 2016 USD ($) shares	Dec. 25, 2019 CNY (¥)	Dec. 25, 2019 USD ($) $ / shares	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)	Jul. 25, 2019 USD ($) shares	Jun. 29, 2018 shares
Temporary Equity [Line Items]
Consideration in issuance Preference Shares \| ¥																		¥ 0	¥ 183,536
Stock Issuance Costs																¥ 0	$ 0	¥ 27,595	¥ 827
Offering Price of converted shares \| $	$ 1,000,000,000
Preferred Stock Liquidation Preference Percentage																(100.00%)	(100.00%)
Internal Rate of Return																(12.00%)	(12.00%)
Maximum [Member]
Temporary Equity [Line Items]
Final Offering Price \| $ / shares	$ 5.22														$ 5.22
Minimum [Member]
Temporary Equity [Line Items]
Final Offering Price \| $ / shares	$ 4.176														$ 4.176
Series A1 And A2 Preferred Stock [Member]
Temporary Equity [Line Items]
Consideration in issuance Preference Shares												¥ 74,742	$ 11,282,000
Issuance of Preference Shares												5,141,587	5,141,587
Convertible Preferred Stock Series A3 [Member]
Temporary Equity [Line Items]
Issuance of Warrants												2,246,744	2,246,744
Series A3 Preferred Stock [Member]
Temporary Equity [Line Items]
Preferred Stock Price \| $ / shares											$ 2.55
Consideration in issuance Preference Shares										¥ 289,024	$ 42,645,000
Issuance of Preference Shares											16,723,646
Convertible Preferred Stock Series B [Member]
Temporary Equity [Line Items]
Issuance of Warrants								5,633,780	5,633,780
Consideration in issuance Preference Shares								¥ 346,515	$ 52,546,000
Issuance of Preference Shares								15,894,594	15,894,594
Convertible Preferred Stock Series B-2 [Member]
Temporary Equity [Line Items]
Issuance of Warrants								2,620,842	2,620,842
Convertible Preferred Stock Series A Three Upon Exercise [Member]
Temporary Equity [Line Items]
Issuance of Preference Shares																					8,361,823
Convertible Preferred Stock Series B-1 Upon Conversion [Member]
Temporary Equity [Line Items]
Issuance of Preference Shares																					2,535,201
Convertible Preferred Stock Series B Two Upon Exercise [Member]
Temporary Equity [Line Items]
Issuance of Preference Shares							1,048,337														2,253,512
Convertible Preferred Stock Series B Upon Exercise [Member]
Temporary Equity [Line Items]
Issuance of Preference Shares							1,455,549														5,938,640
Convertible Preferred Stock Series B One Upon Exercise [Member]
Temporary Equity [Line Items]
Issuance of Preference Shares							232,161														947,218
Series C Preferred Stock [Member]
Temporary Equity [Line Items]
Preferred Stock Price \| $ / shares							$ 6.4419
Consideration in issuance Preference Shares						¥ 1,323,363	$ 200,000,000
Issuance of Preference Shares							31,046,360
Stock Issuance Costs \| ¥						¥ 16,730
Series C One Preferred Stock [Member]
Temporary Equity [Line Items]
Stock Issuance Costs		¥ 5,887	$ 840,000
Subscription of Preferred shares																				3,857,143
Aggregate Purchase Price \| $																				$ 27,000,000.0
Adjustments At Extinguishment Of Preferred Shares \| $															$ 800,000
Series C-1 Convertible Preferred Stock [Member]
Temporary Equity [Line Items]
Consideration in issuance Preference Shares		¥ 119,387	$ 17,000,000	¥ 70,036	$ 10,000,000
Issuance of Preference Shares		2,428,572	2,428,572	1,428,571	1,428,571
Temporary Equity [Member] \| Preferred Stock [Member]
Temporary Equity [Line Items]
Increase in the fair value of ordinary shares														¥ 27,800	$ 4,000,000.0

Convertible Preferred Shares (Tables)

12 Months Ended

Dec. 31, 2021

Temporary Equity Disclosure [Abstract]

Schedule of Convertible Preferred Shares Activities

The Company’s convertible preferred shares activities for the years ended December 31, 2019 and 2020 are summarized below:


	Series A Preferred Shares									Series B Preferred Shares									Series C Preferred Shares									Series C-1 Preferred Shares
	Number of shares			Amount			Amount			Number of shares			Amount			Amount			Number of shares			Amount			Amount			Number of shares			Amount			Amount
				US$			RMB						US$			RMB						US$			RMB						US$			RMB
Balance as of January 1, 2019		30,227,056			102,852			687,482			30,305,212			139,407			921,243			31,046,360			197,478			1,306,633			—			—			—
Issuance of Series C-1 Preferred Shares, net of issuance costs		—			—			—			—			—			—			—			—			—			3,857,143			26,160			183,536
Adjustment at extinguishment of Series C-1 Preferred Shares		—			—			—			—			—			—			—			—			—			—			754			5,283

Balance as of December 31, 2019		30,227,056			102,852			687,482			30,305,212			139,407			921,243			31,046,360			197,478			1,306,633			3,857,143			26,914			188,819

Conversion to ordinary shares upon IPO		(30,227,056	)		(102,852	)		(687,482	)		(30,305,212	)		(139,407	)		(921,243	)		(31,046,360	)		(197,478	)		(1,306,633	)		(3,857,143	)		(26,914	)		(188,819	)
Balance as of December 31, 2020		—			—			—			—			—			—			—			—			—			—			—			—

Restricted Net Assets	12 Months Ended
Restricted Net Assets	Dec. 31, 2021
Restricted Net Assets Disclosure [Abstract]
Restricted Net Assets	26. RESTRICTED NET ASSETS The Group’s ability to pay dividends may depend on the Group receiving distributions of funds from its PRC subsidiary. Relevant PRC statutory laws and regulations permit payments of dividends by the Group’s PRC subsidiary only out of its retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. The results of operations reflected in the consolidated financial statements prepared in accordance with U.S. GAAP differ from those reflected in the statutory financial statements of the Group’s PRC subsidiary. In accordance with the Company law of the PRC, a domestic enterprise is required to provide statutory reserves of at least 10% of its annual after-tax profit until such reserve has reached 50% of its respective registered capital based on the enterprise’s PRC statutory accounts. A domestic enterprise is also required to provide discretionary surplus reserve, at the discretion of the Board of Directors, from the profits determined in accordance with the enterprise’s PRC statutory accounts. The aforementioned reserves can only be used for specific purposes and are not distributable as cash dividends. The Group’s PRC subsidiary was established as domestic invested enterprise and therefore is subject to the above mentioned restrictions on distributable profits. For the years ended December 31, 2019, 2020 and 2021, no appropriation to statutory reserves was made because the PRC subsidiary had substantial losses during such periods. As a result of these PRC laws and regulations subject to the limit discussed above that require annual appropriations of 10% of after-tax income to be set aside, prior to payment of dividends, as general reserve fund, the Group’s PRC subsidiary is restricted in their ability to transfer a portion of their net assets to the Group. Foreign exchange and other regulations in the PRC further restrict the Company’s PRC subsidiaries from transferring funds to the Company in the form of dividends, loans and advances. As of December 31, 2021, the net asset base for purposes of calculating the proportionate share of restricted net assets of consolidated subsidiaries should be zero, while the Group has a consolidated shareholders’ equity. Therefore, as the restricted net assets of consolidated subsidiaries do not exceed 25% of consolidated net assets as of the most recent fiscal year end, the Group is not required to provide parent company financial information.

Other Income (Expenses), Net

12 Months Ended

Dec. 31, 2021

Other Income and Expenses [Abstract]

Other Income (Expenses), Net

19. OTHER INCOME (EXPENSES), NET

The following table summarizes other income (expenses), net recognized for the years ended December 31, 2019, 2020 and 2021:


			Year Ended December 31
			2019			2020			2021
	Notes		RMB			RMB			RMB			US$
												(Note 2.5)
Loss on termination agreement with Everest		18		(23,039	)		—			—			—
Income of incentive payment from depository bank		11		—			2,348			2,395			376
Fair value change of short-term investments				703			11,288			30,360			4,764
Fair value change of put right liabilities				—			3,024			16,628			2,609
Net foreign exchange gains (losses)				1,619			(22,126	)		25,373			3,982
Subsidy income (3)				568			11,633			9,216			1,446
Gains on deconsolidation of a subsidiary		10		—			407,598			—			—
Fair value change of other financial assets				42			—			—			—
Others				(98	)		(873	)		(810	)		(127	)

				(20,205	)		412,892			83,162			13,050

(3)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Reconciliations of the Differences Between the PRC Statutory Income Tax Rate and the Group's Effective Income Tax Rate

Reconciliations of the differences between the PRC statutory income tax rate and the Group’s effective income tax rate for the years ended December 31, 2019, 2020 and 2021 are as follows:


	Year Ended December 31,
	2019			2020			2021
	RMB			RMB			RMB			US$
										(Note 2.5)
Income (loss) before income tax		(1,451,950	)		483,146			(2,334,695	)		(366,365	)
Income tax computed at respective applicable tax rate		(148,871	)		66,044			(410,899	)		(64,479	)
Non-deductible expenses		87,021			72,256			68,400			10,733
Research and development expenses plus deduction		(9,254	)		(60,776	)		(50,530	)		(7,929	)
True up of withholding tax expenses		—			—			(3,154	)		(495	)
Changes in valuation allowance		71,104			(65,293	)		393,029			61,675

		—			12,231			(3,154	)		(495	)

Effect of tax holidays entitled by the PRC subsidiaries on basic income (loss) per share		9.55			0.34			(0.84	)		(0.13	)

Components of the Deferred Tax Assets and Liabilities

The principal components of the deferred tax assets and liabilities are as follows:


	As of December 31,
	2020			2021
	RMB			RMB			US$
							(Note 2.5)
Deferred tax assets:
Net operating loss carryforward		107,344			380,695			59,739
Depreciation and amortization of property, equipment, software and intangible asset, net		30,417			41,020			6,437
Share-based compensation expenses		—			59,296			9,305
Accrual expense		10,568			30,172			4,735
Less: valuation allowance		(100,204	)		(493,233	)		(77,399	)

Total deferred tax assets		48,125			17,950			2,817

Deferred tax liabilities:
Acquired intangible assets		18,067			17,950			2,817
Contract assets		30,058			—			—

Total deferred tax liabilities		48,125			17,950			2,817

Deferred tax assets, net		—			—			—

Summary of Movement of the Valuation Allowance

Movement of the valuation allowance is as follows:


	Year Ended December 31
	2019			2020			2021
	RMB			RMB			RMB			US$
										(Note 2.5)
Balance as of January 1		(94,511	)		(165,497	)		(100,204	)		(15,724	)
Additions		(71,104	)		(36,061	)		(393,029	)		(61,675	)
Utilization and reversal of valuation allowances		—			89,154			—			—
Decrease due to the change of tax rate		118			12,200			—			—

Balance as of December 31		(165,497	)		(100,204	)		(493,233	)		(77,399	)

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Share-Based Compensation Expenses

The allocation of share-based compensation expense was as follows:


	Year Ended December 31,
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
Research and development expenses		470		284,431		201,926		31,687
Administrative expenses		514,733		209,033		406,683		63,817
Equity in loss of an affiliate		—		32,707		13,267		2,082

		515,203		526,171		621,876		97,586

Summary of Valuation Assumptions Used


	As of December 31,			As of December 31,
	2020			2021
Expected terms (Year)		3.7			2.7
Estimated volatility		55.9	%		34.5	%
Spot price	US$	143,804		US$	171,134
Probability of triggering event for redemption option		65	%		70	%

Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Group's Founders' Restricted Shares Activities

Share-based compensation expenses related to restricted shares were included in:


	Year Ended December 31,
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
Research and development expenses		470		—		—		—
Administrative expenses		1,096		—		—		—

		1,566		—		—		—

2018 Plan [Member] | Employee Stock Option [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Share-Based Compensation Expenses

Share-based compensation expenses related to the stock optio

ns of 2018 Plan are

included in:


	Year Ended December 31,
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
Research and development expenses		—		65,656		55		9
Administrative expenses		365,329		48,055		4,478		703
Equity in loss of affiliates		—		226		257		40

		365,329		113,937		4,790		752

Schedule of Non vested Share Activity


	Number of shares			Weighted average grant-date fair value US$
Non-vested at December 31, 2020		825,000			5.57
Vested		(825,000	)		5.57

Non-vested at December 31, 2021		—			—

Summary of Stock Options Activities

The following table sets forth the stock options activities of 2018 Plan for the periods presented:


	Number of shares			Weighted average exercise price US$		Weighted average remaining contractual term		Aggregate intrinsic value US$
Outstanding as of January 1, 2019		—			—		—		—
Granted		13,991,528			1.00		—		—
Repurchased (Note 17 (d))		(454,940	)		1.00		—		—

Outstanding as of December 31, 2019		13,536,588			1.00		8.86		64,840
Exercised Surrendered (Note 17 (h))		(402,000 (2,544,917	) )		1.00 1.00		— —		— —

Outstanding as of December 31, 2020		10,589,671			1.00		8.15		206,499
Exercised		(3,036,435	)		1.00		—		—

Outstanding as of December 31, 2021		7,553,236			1.00		7.15		148,076

Exercisable as of December 31, 2021		7,553,236			1.00		7.15		148,076

Summary of Valuation Assumptions Used

Stock options granted to certain directors and employees of the Group were measured at fair value on the dates of grant using the Binomial Option Pricing Model with the following assumptions:


	Year ended December 31, 2019
Expected volatility		54.64%-56.31	%
Risk-free interest rate (per annum)		2.15%-2.75	%
Exercise multiple		2.80
Expected dividend yield		—
Time to maturity (in years)		10

2017 Plan [Member] | Employee Stock Option [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Share-Based Compensation Expenses

Share-based compensation expenses related to the stock options of 2017 Plan are included in:


	Year Ended December 31,
	2019		2020		2021
	RMB		RMB		RMB			US$ (Note 2.5)
Research and development expenses		—		69,214		(225	)		(35	)
Administrative expenses		—		52,802		2,835			445
Equity in loss of affiliates		—		4,277		516			81

		—		126,293		3,126			491

Schedule of Non vested Share Activity

A summary of

non-vested

stock option activities for the year ended December 31, 2021 is presented below:


	Number of shares			Weighted average Grant date fair value US$
Non-vested at December 31, 2020		911,142			4.96
Vested		(900,642	)		4.96
Forfeited		(10,500	)		5.65

Non-vested at December 31, 2021		—			—

Summary of Stock Options Activities

The following table sets forth the stock options activities of 2017 Plan for the periods presented:


	Number of shares			Weighted average exercise price US$		Weighted average remaining contractual term		Aggregate intrinsic value US$
Outstanding as of December 31, 2018		13,005,596			0.95		8.61		70,129

Granted		640,000			1.00		—		—
Forfeited		(397,500	)		1.00		—		—
Repurchased (Note 17(d))		(3,435,215	)		1.00		—		—

Outstanding as of December 31 ,2019		9,812,881			0.93		7.76		47,671
Forfeited		(338,876	)		1.00		—		—
Exercised		(1,439,373	)		0.72		—		—
Surrendered (Note 17(h))		(332,566	)		1.00		—		—

Outstanding as of December 31 ,2020		7,702,066			0.97		6.75		150,415
Exercised		(5,122,549	)		0.96		—		—
Forfeited		(10,500	)		1.00		—		—

Outstanding as of December 31 ,2021		2,569,017			1.00		5.79		50,361

Exercisable as of December 31, 2021		2,569,017			1.00		5.79		50,361

Summary of Valuation Assumptions Used

Stock options granted to the employees were measured at fair value on the dates of grant using the Binomial Option Pricing Model with the following assumptions:


	Year ended December 31,
	2019
Expected volatility		54.64	%
Risk-free interest rate (per annum)		2.15	%
Exercise multiple		2.80
Expected dividend yield		—
Time to maturity (in years)		10

2019 Plan [Member] | Employee Stock Option [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Share-Based Compensation Expenses

Share-based compensation expenses related to the stock options of 2019 Plan are included in:


	Year Ended December 31,
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
Research and development expenses		—		—		—		—
Administrative expenses		—		1,171		707		111
Equity in loss of affiliates		—		—		—		—

		—		1,171		707		111

Schedule of Non vested Share Activity

A summary of

non-vested

stock options activity for the year ended December 31, 2021 is presented below:


	Number of shares			Weighted average grant-date fair value US$
Non-vested at December 31, 2020		72,000			4.50
Vested		(24,000	)		4.50

Non-vested at December 31, 2021		48,000			4.50

Summary of Stock Options Activities

The following table sets forth the stock options activities of 2019 Plan for periods presented:


	Number of shares		Weighted average exercise price US$		Weighted average remaining contractual term		Aggregate intrinsic value US$
Outstanding as of December 31, 2019		—		—		—		—
Granted		72,000		6.09		—		—

Outstanding as of December 31, 2020		72,000		6.09		9.33		1,038
Granted		—		—		—		—
Outstanding as of December 31, 2021		72,000		6.09		8.05		1,045

Exercisable as of December 31, 2021		24,000		6.09		8.05		348

Summary of Valuation Assumptions Used

Stock options granted to the 3 independent directors were measured at fair value on the dates of grant using the Binomial Option Pricing Model with the following assumptions:


	Year Ended December 31,
	2020
Expected volatility		54.88	%
Risk-free interest rate (per annum)		0.79	%
Exercise multiple		2.80
Expected dividend yield		—
Time to maturity (in years)		10

2020 Plan [Member] | Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Share-Based Compensation Expenses

Share-based compensation expenses related to these restricted share units are included in:


	Year Ended December 31,
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
Research and development expenses		—		67,181		4,156		652
Administrative expenses		—		25,985		54,011		8,476
Equity in loss of affiliates		—		19,085		720		113

		—		112,251		58,887		9,241

Summary of Stock Options Activities

The following table sets forth the restricted share units subject to terms and conditions under 2018 Plan for the periods presented:


	Number of restricted share units			Weighted average exercise price US$		Weighted average remaining contractual term		Aggregate intrinsic value US$
Outstanding as of December 31, 2019		—			—		—		—
Granted		1,328,120			1.00		—		—
Vested		(565,200	)		1.00		—		—

Outstanding as of December 31, 2020		762,920			1.00		9.65		14,877

Vested		(762,920	)		1.00		—		—

Outstanding as of December 31, 2021		—			—		—		—

Schedule of Nonvested Restricted Stock Units Activity

A summary of

non-vested

restricted share units activities for the year ended December 31, 2021 is presented below:


	Number of restricted share units			Weighted average grant-date fair value US$
Non-vested at December 31, 2020		762,920			12.89
Vested		(762,920	)		12.89

Non-vested at December 31, 2021		—			—

2020 Plan [Member] | Employee Stock Option [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Share-Based Compensation Expenses

Share-based compensation expenses related to the stock options of 2020 Plan are included in:


	Year Ended December 31,
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
Research and development expenses		—		10,435		14,915		2,340
Administrative expenses		—		4,357		8,702		1,366
Equity in loss of affiliates		—		1,619		3,262		512

	—		16,411		26,879		4,218

Schedule of Non vested Share Activity

A summary of

non-vested

stock option activities for the year ended December 31, 2021 is presented below:


	Number of shares			Weighted average grant-date fair value US$
Non-vested at December 31, 2020		1,044,368			8.71
Granted		133,913			13.33
Vested		(261,353	)		9.03
Forfeited		(111,495	)		8.65

Non-vested at December 31, 2021		805,433			9.44

Summary of Stock Options Activities

The following table sets forth the stock options activities of 2020 Plan for the periods presented:


	Number of shares			Weighted average exercise price US$		Weighted average remaining contractual term		Aggregate intrinsic value US$
Outstanding as of December 31, 2019		—			—		—		—
Granted		1,068,733			5.91		—		—
Forfeited		(24,365	)		5.91		—		—

Outstanding as of December 31, 2020		1,044,368			5.91		9.62		15,237
Granted		133,913			18.85		—		—
Exercised		(68,859	)		5.91		—		—
Expired		(154	)		5.91		—		—
Forfeited		(111,495	)		6.23		—		—

Outstanding as of December 31, 2021		997,773			7.61		8.68		12,967

Exercisable as of December 31, 2021		192,340			5.91		8.53		2,826

Summary of Valuation Assumptions Used

Stock options granted to the employees were measured at fair value on the dates of grant using the Binomial Option Pricing Model with the following assumptions:


	Year Ended December 31,
	2020
Expected volatility		56.51	%
Risk-free interest rate (per annum)		0.86	%
Exercise multiple		2.20-2.80
Expected dividend yield		—
Time to maturity (in years)		10

2020 Plan [Member] | Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Share-Based Compensation Expenses

Share-based compensation expenses related to the aforementioned restricted share units of 2020 Plan are included in:


	Year Ended December 31,
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
Research and development expenses		—		71,945		118,368		18,575
Administrative expenses		—		76,663		227,392		35,681
Equity in loss of affiliates		—		7,500		8,512		1,336

		—		156,108		354,272		55,592

Summary of Stock Options Activities

The following table sets forth the restricted share units of 2020 Plan for the periods presented:


	Number of restricted share units			Weighted average exercise price US$		Weighted average remaining contractual term		Aggregate intrinsic value US$
Outstanding as of December 31, 2019		—			—		—		—
Granted		4,093,079			—		—		—
Forfeited		(13,461	)		—		—		—

Outstanding as of December 31, 2020		4,079,618			—		9.70		83,632
Granted		1,649,045			—		—		—
Vested		(4,048,000	)		—		—		—
Forfeited		(198,872	)		—		—		—

Outstanding as of December 31, 2021		1,481,791			—		8.95		30,531

Schedule of Nonvested Restricted Stock Units Activity

A summary of

non-vested

restricted share units activities for the year ended December 31, 2021 is presented below:


	Number of restricted share units			Weighted average grant-date fair value US$
Non-vested at December 31, 2020		4,079,618			14.00
Granted		1,649,045			25.60
Vested		(4,048,000	)		17.15
Forfeited		(198,872	)		14.63

Non-vested at December 31, 2021		1,481,791			17.80

2021 Plan [Member] | Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Share-Based Compensation Expenses

Share-based compensation expenses related to the restricted share units of 2021 Plan are included in:


	Year Ended December 31,
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
Research and development expenses		—		—		44,227		6,940
Administrative expenses		—		—		73,332		11,507

		—		—		117,559		18,447

Summary of Stock Options Activities

The following table sets forth the restricted share units of 2021 Plan for the period presented:


	Number of restricted share units			Weighted average exercise price US$		Weighted average remaining contractual term		Aggregate intrinsic value US$
Outstanding as of December 31, 2020		—			—		—		—
Granted		1,827,166			—		—		—
Forfeited		(170,913	)		—		—		—

Outstanding as of December 31, 2021		1,656,253			—		9.57		34,126

Schedule of Nonvested Restricted Stock Units Activity

A summary of

non-vested

restricted share units activities for year ended December 31, 2021 is presented below:


	Number of restricted share units			Weighted average grant-date fair value US$
Non-vested at December 31, 2020		—			—
Granted		1,827,166			26.44
Forfeited		(170,913	)		26.38

Non-vested at December 31, 2021		1,656,253			26.45

2021 Plan [Member] | Employee Stock Option [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Share-Based Compensation Expenses

Share-based compensation expenses related to the stock options of 2021 Plan are included in:


	Year Ended December 31,
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
Research and development expenses		—		—		20,430		3,206
Administrative expenses		—		—		35,226		5,528

		—		—		55,656		8,734

Schedule of Non vested Share Activity

A summary of

non-vested

stock option activities for the year ended December 31, 2021 is presented below:


	Number of shares			Weighted average grant-date fair value US$
Non-vested at December 31, 2020		—			—
Granted		2,698,245			14.17
Forfeited		(253,805	)		14.66

Non-vested at December 31, 2021		2,444,440			14.12

Summary of Stock Options Activities

The following table sets forth the stock options activities of 2021 Plan for the year ended December 31, 2021:


	Number of shares			Weighted average exercise price US$		Weighted average remaining contractual term		Aggregate intrinsic value US$
Outstanding as of December 31, 2020		—			—		—		—
Granted		2,698,245			26.43		—		—
Forfeited		(253,805	)		26.39		—		—

Outstanding as of December 31, 2021		2,444,440			26.44		9.57		—

Exercisable as of December 31, 2021		—			—		—		—

Summary of Valuation Assumptions Used

Stock options granted to the employees were measured at fair value on the dates of grant using the Binomial Option Pricing Model with the following assumptions:


	Year Ended December 31,
	2021
Expected volatility		51.77%-54.37%
Risk-free interest rate (per annum)		1.44%-1.68%
Exercise multiple		2.2-2.80
Expected dividend yield		—
Time to maturity (in years)		10

Related Party Balances and Transactions (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Related Party Balances

Details of related party balances as of December 31, 2020 and 2021 are as follows:

Prepayments and other receivables


	As of December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
I-Mab Hangzhou		21,212		8,079		1,268

Accruals and other payables


	As of December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
Jiangsu Taslydiyi Pharmaceutical Co., Ltd.		2,395		5,092		799

Summary of Related Party Transactions

Details of related party transactions for the years ended December 31, 2019, 2020 and 2021 are as follows:

Receipt of CRO and CMC services - recognized in research and development expenses


	For the year ended December 31,
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
CMAB Biopharma (Suzhou) Inc.		—		681		—		—
Jiangsu Taslydiyi Pharmaceutical Co., Ltd.		—		2,395		2,697		423
Tasly Pharmaceutical Group Co., Ltd.		5,590		—		—		—
I-Mab Hangzhou		—		—		2,465		387

Receipt of research and development funding


	For the year ended December 31,
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
Everest (Note 18)		53,148		—		—		—

Collection of loan to an affiliate


	For the year ended December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
I-Mab Hangzhou (4)		52,000		—		—

(4)	In July 2019 and July 2020, I-Mab Shanghai provided an interest free loan to I-Mab Hangzhou of RMB2,000 and RMB50,000 respectively to finance I-Mab Hangzhou’s operation. These loans were repaid in November 2020.

Expenses paid on behalf of an affiliate


	For the year ended December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
I-Mab Hangzhou		21,212		17,649		2,770

Provision of FTE and other services - recognized in other income


	For the year ended December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
I-Mab Hangzhou		—		11,691		1,834

Amounts received on behalf of an affiliate


	For the year ended December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
I-Mab Hangzhou		—		281		44

Amounts received related to the sublicense agreement


	For the year ended December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
I-Mab Hangzhou (5)		—		19,102		2,998

(5)

Amounts paid by an affiliate on behalf of the Group


	For the year ended December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
I-Mab Hangzhou		—		25,448		3,993

Concentration of Credit Risk

12 Months Ended

Dec. 31, 2021

Risks and Uncertainties [Abstract]

Concentration of Credit Risk

24. CONCENTRATION OF CREDIT RISK

Financial instruments that are potentially subject to significant concentration of credit risk consist of cash and cash equivalents, restricted cash, short-term investments, other financial assets, accounts receivable, contract assets, and other receivables. The carrying amounts of cash and cash equivalents, short-term investments and contract assets represent the maximum amount of loss due to credit risk. As of December 31, 2020 and 2021, all of the Group’s cash and cash equivalents, restricted cash and short-term investments were held by major financial institutions located in the PRC and international financial institutions outside of the PRC which management believes are of high credit quality and continually monitors the credit worthiness of these financial institutions. With respect to the accounts receivable, contract assets and other receivables, the Group performs

on-going

credit evaluations of the financial condition of its customers and counterparties.

Commitments and Contingencies - Additional Information (Detail) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥)
Commitments and Contingencies Disclosure [Abstract]
Capital expenditure incurred	¥ 24,426

Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Operating Lease Related Assets And Liabilities And Other Related Information

Information related to operating leases as of December 31, 2020 and 2021 is as follows (in thousands, except for percentages and years).


	As of December 31,
	2020			2021
	RMB			RMB			US$ (Note 2.5)
Assets
Operating lease right-of-use assets		14,997			112,781			17,698
Liabilities
Operating lease liabilities, current		8,058			30,669			4,813
Operating lease liabilities, non-current		5,542			81,786			12,834
Weighted average remaining lease term (years)		1.7			3.6			3.6
Weighted average discount rate		5	%		5	%		5	%

Schedule of Components of Operating Lease Expense

Information related to operating lease activity during the years ended December 31, 2020 and 2021 is as follows:


	For the Year Ended
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
Operating lease rental expense
Amortization of right-of-use assets		5,260		8,158		16,997		2,667
Expense for short-term leases within 12 months		592		—		16		3
Interest of lease liabilities		543		679		2,585		406

		6,395		8,837		19,598		3,076

Schedule of Operating Lease, Maturity

Maturities of lease liabilities were as follows:


	As of December 31,
	2021
	RMB			US$ (Note 2.5)
2022		35,359			5,549
2023		38,120			5,982
2024		33,305			5,226
2025		5,399			847
2026		5,501			863
Thereafter		4,949			776

Total undiscounted lease payments		122,633			19,243
Less: imputed interest		(10,178	)		(1,596	)

Total lease liabilities		112,455			17,647

Intangible Assets - Additional Information (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)
Impairment of intangible assets	¥ 0		¥ 0
Amortization of intangible assets	778	$ 122	1,556
Estimated amortization expense	778
IPR And D TJ103 [Member]
Amortization of intangible assets	¥ 778		¥ 1,556

Income Taxes - Components of the Deferred Tax Assets and Liabilities (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Deferred tax assets:
Net operating loss carryforward	¥ 380,695	$ 59,739	¥ 107,344
Depreciation and amortization of property, equipment, software and intangible asset, net	41,020	6,437	30,417
Share-based compensation expenses	59,296	9,305	0
Accrual expense	30,172	4,735	10,568
Less: valuation allowance	(493,233)	(77,399)	(100,204)	$ (15,724)	¥ (165,497)	¥ (94,511)
Total deferred tax assets	17,950	2,817	48,125
Deferred tax liabilities:
Acquired intangible assets	17,950	2,817	18,067
Contract assets	0	0	30,058
Total deferred tax liabilities	17,950	2,817	48,125
Deferred tax assets, net	¥ 0	$ 0	¥ 0

Consolidated Statements of Changes in Shareholders' Equity (Deficit) ¥ in Thousands, $ in Thousands	CNY (¥) shares	USD ($) shares	Ordinary share CNY (¥) shares	Treasury stock CNY (¥)	Additional paid-in capital CNY (¥)	Accumulated other comprehensive income (loss) CNY (¥)	Accumulated deficit CNY (¥)
Beginning balance at Dec. 31, 2018	¥ (955,104)		¥ 6	¥ (1)		¥ 59,380	¥ (1,014,489)
Beginning balance, shares at Dec. 31, 2018 \| shares			8,363,719
Foreign currency translation adjustments	10,747					10,747
Net income (loss)	(1,451,950)						(1,451,950)
Share-based compensation of I-Mab	366,895			¥ 1	¥ 366,894
Deemed dividend to Series C-1 preferred shareholders at extinguishment of Series C-1 Preferred Shares	(5,283)				(5,283)
Deemed dividend to Series B-1, B-2 and C preferred shareholders at modification of Series B-1, B-2 and C Preferred Shares	27,768				27,768		(27,768)
Ending balance at Dec. 31, 2019	(2,034,695)		¥ 6		389,379	70,127	(2,494,207)
Ending balance, shares at Dec. 31, 2019 \| shares			8,363,719
Foreign currency translation adjustments	(120,920)					(120,920)
Net income (loss)	470,915						470,915
Share-based compensation of I-Mab	402,413				402,413
Exercise of stock options	7,774		¥ 3		7,771
Exercise of stock options, share \| shares			1,841,373
Issuance of ordinary shares for restricted share units (Note 17 (f))	46				46
Issuance of ordinary shares for restricted share units, Shares (Note 17 (f)) \| shares			7,000
Conversion from convertible promissory notes (Note 15)	58,826		¥ 1		58,825
Conversion from convertible promissory notes, Shares \| shares			900,000
Proportionate share of share-based compensation expenses recorded in an equity method affiliate (Note 10 (a))	41,163				41,163
Capital contribution from stock option surrender (Note 17)	91,051				91,051
Conversion of preferred shares to ordinary shares upon the completion of initial public offering ("IPO")	3,104,177		¥ 69		3,104,108
Conversion of preferred shares to ordinary shares upon the completion of initial public offering ("IPO"), shares \| shares			99,760,129
Issuance of ordinary shares to Everest	254,848		¥ 4		254,844
Issuance of ordinary shares to Everest, shares \| shares			6,078,571
Issuance of ordinary shares upon IPO and over-allotment, net of issuance cost	697,878		¥ 13		697,865
Issuance of ordinary shares upon IPO and over-allotment, net of issuance cost, shares \| shares			18,804,225
Issuance of ordinary shares upon private placement, net of issuance cost	2,543,926		¥ 18		2,543,908
Issuance of ordinary shares upon private placement, net of issuance cost, shares \| shares			29,133,502
Issuance of warrants	109,743				109,743
Ending balance at Dec. 31, 2020	5,627,145		¥ 114		7,701,116	(50,793)	(2,023,292)
Ending balance, shares at Dec. 31, 2020 \| shares			164,888,519
Foreign currency translation adjustments	(135,717)	$ (21,297)				(135,717)
Net income (loss)	(2,331,541)	$ (365,870)					(2,331,541)
Share-based compensation of I-Mab	608,609				608,609
Exercise of stock options	51,315		¥ 5		51,310
Exercise of stock options, share \| shares			8,227,843
Issuance of ordinary shares for restricted share units (Note 17 (f))	¥ 8,551		¥ 4		8,547
Issuance of ordinary shares for restricted share units, Shares (Note 17 (f)) \| shares	5,376,140	5,376,140	5,369,140
Proportionate share of share-based compensation expenses recorded in an equity method affiliate (Note 10 (a))	¥ 58,534				58,534
Exercise of warrants (Note 16 (b))	672,664		¥ 3		672,661
Exercise of warrants (Note 16 (b)), shares \| shares			5,341,267
Ordinary shares surrendered by a shareholder, shares \| shares			(16)
Ending balance at Dec. 31, 2021	¥ 4,559,560	$ 715,495	¥ 126		¥ 9,100,777	¥ (186,510)	¥ (4,354,833)
Ending balance, shares at Dec. 31, 2021 \| shares			183,826,753

Investments Accounted for Using the Equity Method and Put Right Liabilities

12 Months Ended

Dec. 31, 2021

Investments Accounted For Using The Equity Method And Put Right Liabilities [Abstract]

Investments Accounted for Using the Equity Method and Put Right Liabilities

10. INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD AND PUT RIGHT LIABILITIES

(a)	Investments accounted for using the equity method

Investment in

I-Mab

Hangzhou

I-Mab

Hangzhou, incorporated on June 16, 2019, was a wholly owned subsidiary of

I-Mab

Hong Kong with registered capital of US$30 million, which was paid up by

I-Mab

Hong Kong on September 14, 2020.

On September 15, 2020 (the “Closing Date”),

I-Mab

Hong Kong entered into an equity transfer and investment agreement (the “SPA”) with (i) a limited partnership jointly established by the management of

I-Mab

Hangzhou to hold restricted equity of

I-Mab

Hangzhou issued to the management (“Management Holdco”), (ii) a limited partnership established to hold the shares of

I-Mab

Hangzhou for future equity incentive plan (“ESOP Holdco”) and (iii) a group of domestic investors in China (“Domestic Investors”).

In accordance with the terms of the SPA,

(i)

I-Mab

Hong Kong agreed to assign all rights and obligations/ownership of certain drug candidates in different stages of development (“Target Pipelines”) to

I-Mab

Hangzhou as of the Closing Date as well as to transfer employment of a team of designated management/workforce to

I-Mab

Hangzhou. The Target Pipelines were evaluated by an independent valuer, with a total value of US$105 million as of the Closing Date;

(ii)

Management Holdco would acquire 10% of the equity of

I-Mab

Hangzhou from

I-Mab

Hong Kong with no consideration. The 10% equity is represented by

I-Mab

Hangzhou’s registered capital of US$3 million, and that after acquiring such equity, Management Holdco is committed to pay US$3 million in cash to

I-Mab

Hangzhou to fulfil its capital contribution obligations in a period of four years starting from the Closing Date;

(iii)

ESOP Holdco would acquire 5% of the equity of

I-Mab

Hangzhou from

I-Mab

Hong Kong with no consideration. The

% equity is represented by

I-Mab

Hangzhou’s registered capital of US$1.5 million. All of such equity would be used for

I-Mab

Hangzhou’s future equity incentive plan.

(iv)

Domestic Investors would acquire a total of 40% of the equity of

I-Mab

Hangzhou from

I-Mab

Hong Kong with no consideration. The 40% equity is represented by

I-Mab

Hangzhou’s registered capital of US$12 million, and after acquiring such equity of

I-Mab

Hangzhou, Domestic Investors would pay US$120 million collectively in cash to

I-Mab

Hangzhou to fulfil its capital contribution obligations.

Upon closing of the SPA, the registered capital of

I-Mab

Hangzhou remained to be US$30 million. As of December 31, 2020, among the total 25,500,000 outstanding shares of

I-Mab

Hangzhou, 13,500,000 shares were held by

I-Mab

Hong Kong while the remaining 12,000,000 shares was held by Domestic Investors. Shares subscribed by Management Holdco and ESOP Holdco, in the total number of 4,500,000, have not yet been purchased by or issued to Management Holdco and ESOP Holdco as of December 31, 2020. Once all these 4,500,000 subscribed shares of

I-Mab

Hangzhou are purchased by or issued to Management Holdco and ESOP Holdco, the equity interest in

I-Mab

Hangzhou held by

I-Mab

Hong Kong, Domestic Investors, Management Holdco and ESOP Holdco would be 45%, 40%, 10% and 5% respectively. For the year ended December 31, 2021, 750,000 shares were issued to Management Holdco.

On the same day,

I-Mab

Hong Kong also entered into a shareholders agreement with the aforementioned investors (the “SHA”). According to the SHA and

I-Mab

Hangzhou’s articles of association, the board of directors of

I-Mab

Hangzhou shall be composed of seven directors. The directors shall be elected in the following ways:

I-Mab

Hong Kong is entitled to appoint three directors, including the chairman of the board of directors, as well as nominate one independent director; the Management Holdco is entitled to appoint one director; two

non-related

entities of the Domestic Investors are entitled to appoint one director respectively (“Investors Directors”). Each director of the board of directors shall have one vote.

I-Mab

Hong Kong, Management Holdco and ESOP Holdco agree to act in concert, as long as each of Management Holdco and ESOP Holdco respectively holds equity in

I-Mab

Hangzhou, when exercising the rights as a shareholder.

As a result of the above transactions,

I-Mab

Hangzhou became an affiliate of the Group on the Closing Date in accordance with ASC 810 since

I-Mab

Hangzhou meets the definition of a business under ASC 805.

Pipeline candidate related matters are considered to be the activities that most significantly impact the economic performance of I-Mab Hangzhou at the current stage, and these matters cannot be acted without the consent from Investors Directors.

In accordance with ASC

810-10,

I-Mab

Hangzhou is a variable interest entity, and no shareholder shall consolidate

I-Mab

Hangzhou under VIE model as neither party have the power to direct all the activities that most significantly impact the economic performance of

I-Mab

Hangzhou. Therefore, the Group deconsolidated

I-Mab

Hangzhou and retained significant influence in

I-Mab

Hangzhou. The investment was accounted for using the equity method. The retained investment in the common stock of

I-Mab

Hangzhou was initially measured at fair value in accordance with ASC

810-10-40.

The Group determined the fair value of its retained equity interest with the assistance of an independent third-party valuation firm. The Group used equity allocation model to estimate the fair value of the investment. The fair value as of the Closing Date was US$112,039 (equivalent to approximately RMB764,352), which reflected the fact that the shares subscribed by Management Holdco and ESOP Holdco were not issued and outstanding as of the Closing Date.

A gain of RMB407,598 was recognized as a result of the deconsolidation in September 2020. The gain represented the difference between:

i)	The fair value of the retained noncontrolling investment in I-Mab Hangzhou at the Closing Date; and

ii)	The aggregate of all of the following:

the carrying amount of transferred intellectual property related to TJ102 at the Closing Date (see Note 7);

the fair value of the put right liabilities written by

I-Mab

Hong Kong to Domestic Investors;

the carrying amount of

I-Mab

Hangzhou’s net assets at the Closing Date.

Subsequently, pursuant to the

I-Mab

Hangzhou’s articles of association, the Group applies the HLBV method to allocate earnings or losses of

I-Mab

Hangzhou because the liquidation rights and priorities sufficiently differ from what is reflected by the underlying percentage ownership interests. The Group recognized RMB67,425 in equity in loss of an affiliate in the consolidated statements of comprehensive income for the period from September 15, 2020 to December 31, 2020, and in investment accounted for using the equity method in the consolidated balance sheet as of December 31, 2020. The Group recognized RMB309,208 in equity in loss of an affiliate in the consolidated statements of comprehensive loss for the year ended December 31, 2021, and in investment accounted for using the equity method in the consolidated balance sheet as of December 31, 2021.

The purchase price of US$3 million committed by Management Holdco under SPA, representing 10% of the equity of

I-Mab

Hangzhou, is significantly lower than the fair value of the corresponding subscribed shares as of the Closing Date. The excess is considered as share-based compensation to the

I-Mab

Hangzhou’s management for the services to be used or consumed in the

I-Mab

Hangzhou’s own operations. The share-based compensation is considered granted upon the Closing Date and cliff vests after five years of service since the Closing Date. Consequently, the Group recognizes its proportionate share of the compensation expense recorded by

I-Mab

Hangzhou. For the period from September 15, 2020 to December 31, 2020, the Group recognized RMB8,456 in equity in loss of affiliates in the Group’s consolidated statements of comprehensive income. For the year ended December 31, 2021, the Group recognized RMB28,236 in equity in loss of affiliates in the consolidated financial statements of comprehensive loss.

Along with the equity transfer transaction, the team of designated management/workforce transferred from the Group to

I-Mab

Hangzhou consists of several grantees under the Group’s 2020 Share Incentive Plan (“2020 Plan”, see Note 17(f)). These individuals continued to qualify the definition of the eligible participants under the 2020 Plan after the Closing Date. Meanwhile, there has been no change to any of the award terms. The equity transfer transaction did not trigger the modification accounting to the share-based compensation. Additionally, given that

I-Mab

Hangzhou became an affiliate to the Group upon deconsolidation, and that the other shareholders of

I-Mab

Hangzhou are not providing proportionate value to sponsor the 2020 Plan nor is the Group receiving any consideration for the awards granted to employees of

I-Mab

Hangzhou, the Group is required, under Topic 323, to expense the full costs of share-based compensation as incurred at the same period as the costs are recognized by

I-Mab

Hangzhou. For the year ended December 31, 2020 and 2021, such expenses of RMB32,707 and RMB13,267 were recorded in the equity in loss of affiliates in the consolidated statements of comprehensive income (loss), respectively.

In March 2021,

I-Mab

Hangzhou granted stock options to its employees and recognized share-based compensation expenses of RMB17,031 for the year ended December 31, 2021. Pursuant to the

I-Mab

Hangzhou’s articles of association, the Group applies the HLBV method to allocate earnings or losses of

I-Mab

Hangzhou because the liquidation rights and priorities sufficiently differ from what is reflected by the underlying percentage ownership interests. Accordingly, the Group recorded RMB17,031 in the equity in loss of affiliates in the consolidated financial statements of comprehensive loss for the year ended December 31, 2021 and in additional

paid-in

capital in the consolidated balance sheet as of December 31, 2021.

As of December 31, 2020 and 2021, the carrying value of the Group’s long-term investment in

I-Mab

Hangzhou RMB664,832 and RMB346,247, respectively.

Other long-term investment measured under equity method

In July 2021, the Group, as a limited partner, entered into a partnership agreement with other investors and subscribed RMB20,000 for a 4% equity interest in a partnership located in Hangzhou. In August 2021, the Group paid the initial investment of RMB6,000 to the partnership. Pursuant to the partnership agreement, the Group, as a limited partner, shall not participate in any activities in relation to management of the investment business. In addition, members of the investment committee shall only be appointed by the general partner.

For the year ended December 31, 2021, the Group recorded RMB141 in the equity in loss of affiliates in the consolidated financial statements of comprehensive loss.

As of December 31, 2021, the carrying value of the Group’s long-term investment in this affiliate was RMB5,859.

The Group presented the summarized financial information of the Group’s long-term investment measured under equity method below in accordance with Rule

4-08

of Regulation

S-X

(RMB in thousands).


	For the period from September 15, 2020 to December 31, 2020			For the year ended December 31, 2021
	I-Mab Hangzhou			I-Mab Hangzhou			Other equity investments
Operating data:
Revenue		271			5,660			—
Loss from operations		(85,945	)		(295,186	)		(3,513	)
Net Loss		(85,945	)		(290,586	)		(3,513	)


	As of December 31,		As of December 31,
	2020		2021
	I-Mab Hangzhou		I-Mab Hangzhou		Other equity investments
Balance sheet data:
Current assets		923,010		602,047		20,037
Non-current assets		810,623		1,207,132		40,000
Current liabilities		31,519		168,763		50
Non-current liabilities		10,933		176,436		—
Non-controlling interests		—		—		—

(b)	Put right liabilities

Pursuant to the SHA, if

I-Mab

Hangzhou fails to close a public offering of

I-Mab

Hangzhou’s shares on the China Stock Exchange’s Science and Technology Innovation Board, Main Board, Small and

Medium-Sized

Enterprise Board, Growth Enterprise Board, or Hong Kong Stock Exchange, U.S. Stock Exchange, or other stock exchanges approved by the shareholders of

I-Mab

Hangzhou in accordance with provisions of the SHA within 4 years after September 15, 2020,

I-Mab

Hong Kong is obligated to repurchase the equity held by Domestic Investors in cash or in

I-Mab’s

stock (subject to the approval procedures of

I-Mab)

within 3 years from the expiration of the

4-year

period after the Closing Date of September 15, 2020.

The put right written by

I-Mab

Hong Kong to Domestic Investors is a freestanding equity-linked instrument, which is classified as a put right liability and is initially measured at fair value. Subsequent changes in fair value are recorded in other income (loss) in the consolidated statements of comprehensive income (loss).


	As of December 31,			As of December 31,
	2020			2021
Expected terms (Year)		3.7			2.7
Estimated volatility		55.9	%		34.5	%
Spot price	US$	143,804		US$	171,134
Probability of triggering event for redemption option		65	%		70	%

The model requires the input of key assumptions including the expected terms, estimated volatility, spot price and probability of triggering event for redemption option. The significant unobservable inputs used in the option pricing model included spot price, estimated volatility and probability of triggering event for redemption option. Expected terms is estimated based on the timing of a hypothetical redemption event which is assumed to be the earlier of expected redemption date or expected public offering date. Expected volatility is estimated based on daily stock prices of the comparable company for a period with length commensurate to the expected terms of redemption event. The spot price was determined using the income approach with assistance from an independent third-party valuation firm. The significant unobservable inputs used in the income approach include revenue growth rates and discount rates. The Group’s management is ultimately responsible for the determination of the spot price and probability of triggering event for redemption option.

Significant decreases in interval between valuation date and maturity date, estimated volatility, spot price and probability of triggering event for redemption option would result in a significantly lower fair value measurement.

Employee Benefits	12 Months Ended
Employee Benefits	Dec. 31, 2021
Postemployment Benefits [Abstract]
Employee Benefits	21. EMPLOYEE BENEFITS Full time employees of the Group in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to the employees. Chinese labor regulations require that the PRC subsidiaries of the Group make contributions to the government for these benefits based on certain percentage of the employees’ salaries, up to a maximum amount specified by the government. The Group has no legal obligation for the benefits beyond the contribution made. The total amounts charged to the consolidated statements of comprehensive income (loss) for such employee benefits amounted to approximately RMB14,152, RMB10,049 and RMB26,426 for the years ended December 31, 2019, 2020 and 2021, respectively.

Accruals And Other Payables (Tables)

12 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

Summary of accruals and other payables


	As of December 31,		As of December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
Current:
Staff salaries and welfare payables		94,133		52,526		8,242
Accrued external research and development activities related expenses		218,583		367,976		57,743
Accrued cost in relation to planned dual listing		2,010		4,793		752
Accrued private placement offering costs payable		128,786		—		—
Termination fee (Note 18)		—		57,381		9,004
Non-refundable incentive payment from depositary bank (1)		2,424		2,369		372
Accrued traveling expenses, office expenses and others		114,622		108,290		16,994

		560,558		593,335		93,107

Non-current:
Non-refundable incentive payment from depositary bank (1)		7,474		4,934		774
Non-refundable payment received in relation to the exclusive promotion right granted to a third party (2)		—		10,000		1,569
Advance payment received from an employee for exercise of stock options		1,501		—		—

		8,975		14,934		2,343

Total		569,533		608,269		95,450

Other Income (Expenses), Net - Summary of Other Income (Expenses), Net (Parenthetical) (Detail) - CNY (¥) ¥ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Grant [Member]
Subsidy Income		¥ 10.0
Paycheck Protection [Member]
Subsidy Income	¥ 2.9
Pipeline [Member]
Subsidy Income	¥ 4.5

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 470
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-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 30
-Subparagraph (a)
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

+ Details

Share-Based Compensation - Summary of non-vested stock option activities (Detail) - $ / shares			12 Months Ended
	Jan. 31, 2020	Jan. 17, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numbers of shares
Granted			133,913
2017 Plan [Member]
Numbers of shares
Number of shares Outstanding			7,702,066	9,812,881	13,005,596
Granted					640,000
Forfeited	(332,566)	(332,566)	(10,500)	(338,876)	(397,500)
Number of shares Outstanding			2,569,017	7,702,066	9,812,881
2017 Plan [Member] \| Employee Stock Option [Member]
Numbers of shares
Number of shares Outstanding			911,142
Granted					640,000
Vested			(900,642)
Forfeited			(10,500)
Number of shares Outstanding			0	911,142
Weighted average Grant date fair value
Weighted average grant date fair value Outstanding			$ 4.96
Vested			4.96
Forfeited			5.65
Weighted average grant date fair value Outstanding			$ 0	$ 4.96
2018 Plan [Member]
Numbers of shares
Number of shares Outstanding			10,589,671	13,536,588
Granted					13,991,528
Number of shares Outstanding			7,553,236	10,589,671	13,536,588
2018 Plan [Member] \| Employee Stock Option [Member]
Numbers of shares
Number of shares Outstanding			825,000
Vested			(825,000)
Number of shares Outstanding			0	825,000
Weighted average Grant date fair value
Weighted average grant date fair value Outstanding			$ 5.57
Vested			5.57
Weighted average grant date fair value Outstanding			$ 0	$ 5.57
2019 Plan [Member]
Numbers of shares
Number of shares Outstanding			72,000
Granted				72,000
Vested			(24,000)
Number of shares Outstanding			48,000	72,000
Weighted average Grant date fair value
Weighted average grant date fair value Outstanding			$ 4.50
Vested			4.50
Weighted average grant date fair value Outstanding			$ 4.50	$ 4.50
2021 Plan [Member]
Numbers of shares
Granted			2,698,245
Forfeited			(253,805)
Number of shares Outstanding			2,444,440
Weighted average Grant date fair value
Forfeited			$ 14.66
Granted			14.17
Weighted average grant date fair value Outstanding			$ 14.12
2020 Plan [Member]
Numbers of shares
Number of shares Outstanding			1,044,368
Granted			133,913	1,068,733
Vested			(261,353)
Forfeited			(111,495)
Number of shares Outstanding			805,433	1,044,368
Weighted average Grant date fair value
Weighted average grant date fair value Outstanding			$ 8.71
Vested			9.03
Forfeited			8.65
Granted			13.33
Weighted average grant date fair value Outstanding			$ 9.44	$ 8.71

Share-Based Compensation -Schedule of Nonvested Restricted Stock Units Activity (Detail) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
2020 Plan [Member]
Schedule Of Nonvested Restricted Stock Units Activity [Line Items]
Numbers of shares, Outstanding	1,481,791	4,079,618
Granted		1,649,045
Vested		(4,048,000)
Forfeited		(198,872)
Numbers of shares, Outstanding		1,481,791
Weighted average grant date fair value, Outstanding		$ 14.00
Weighted average grant date fair value, Granted		25.60
Weighted average grant date fair value, Vested		17.15
Weighted average grant date fair value, Forfeited		$ 14.63
Weighted average grant date fair value, Outstanding	$ 17.80
2020 Plan [Member]
Schedule Of Nonvested Restricted Stock Units Activity [Line Items]
Numbers of shares, Outstanding	762,920
Vested	(762,920)
Numbers of shares, Outstanding		762,920
Weighted average grant date fair value, Outstanding	$ 12.89
Weighted average grant date fair value, Vested	$ 12.89
Weighted average grant date fair value, Outstanding		$ 12.89
2021 Plan [Member]
Schedule Of Nonvested Restricted Stock Units Activity [Line Items]
Granted	1,827,166
Forfeited	(170,913)
Numbers of shares, Outstanding	1,656,253
Weighted average grant date fair value, Granted	$ 26.44
Weighted average grant date fair value, Forfeited	26.38
Weighted average grant date fair value, Outstanding	$ 26.45

Warrants - Details of accounting for warrants to purchase ordinary shares (Detail) - Warrants to purchase ordinary shares [Member] ¥ in Thousands	Dec. 17, 2020 CNY (¥) shares	Sep. 11, 2020 CNY (¥) shares	Dec. 17, 2020 $ / shares	Sep. 11, 2020 $ / shares
Class of Warrant or Right [Line Items]
Class Of Warrant or Rights Exercisable Term	12 months	12 months
Class of Warrant or Right, Exercise Price of Warrants or Rights \| $ / shares			$ 19.57	$ 19.57
Class of Warrant or Right, Outstanding \| shares	1,597,235	3,744,032
Warrants and Rights Outstanding \| ¥	¥ 37,869	¥ 71,874

Income Taxes - Summary of Movement of the Valuation Allowance (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)
Income Tax Disclosure [Abstract]
Balance as of January 1	¥ (100,204)	$ (15,724)	¥ (165,497)	¥ (94,511)
Additions	(393,029)	(61,675)	(36,061)	(71,104)
Utilization and reversal of valuation allowances	0	0	89,154
Decrease due to the change of tax rate	0	0	12,200	118
Balance as of December 31	¥ (493,233)	$ (77,399)	¥ (100,204)	¥ (165,497)

Convertible Preferred Shares - Schedule of Convertible Preferred Shares Activities (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥) shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 CNY (¥) shares	Dec. 31, 2019 USD ($) shares	Dec. 31, 2019 USD ($) shares
Temporary Equity [Line Items]
Conversion to ordinary shares upon IPO, value \| ¥	¥ 3,104,177
Series A Convertible Preferred Stock [Member]
Temporary Equity [Line Items]
Opening Balance	¥ 687,482	$ 102,852	¥ 687,482	$ 102,852
Opening Balance, Shares	30,227,056	30,227,056	30,227,056	30,227,056
Conversion to ordinary shares upon IPO, value	¥ (687,482)	$ (102,852)
Conversion to ordinary shares upon IPO, shares	(30,227,056)	(30,227,056)
Closing Balance	¥ 0	$ 0	¥ 687,482	$ 102,852
Closing Balance, Shares	0	0	30,227,056	30,227,056
Series B Convertible Preferred Stock [Member]
Temporary Equity [Line Items]
Opening Balance	¥ 921,243	$ 139,407	¥ 921,243	$ 139,407
Opening Balance, Shares	30,305,212	30,305,212	30,305,212	30,305,212
Conversion to ordinary shares upon IPO, value	¥ (921,243)	$ (139,407)
Conversion to ordinary shares upon IPO, shares	(30,305,212)	(30,305,212)
Closing Balance	¥ 0	$ 0	¥ 921,243	$ 139,407
Closing Balance, Shares	0	0	30,305,212	30,305,212
Series C Convertible Preferred Stock [Member]
Temporary Equity [Line Items]
Opening Balance	¥ 1,306,633	$ 197,478	¥ 1,306,633	$ 197,478
Opening Balance, Shares	31,046,360	31,046,360	31,046,360	31,046,360
Conversion to ordinary shares upon IPO, value	¥ (1,306,633)	$ (197,478)
Conversion to ordinary shares upon IPO, shares	(31,046,360)	(31,046,360)
Closing Balance	¥ 0	$ 0	¥ 1,306,633	$ 197,478
Closing Balance, Shares	0	0	31,046,360	31,046,360
Series C-1 Convertible Preferred Stock [Member]
Temporary Equity [Line Items]
Opening Balance	¥ 188,819	$ 26,914
Opening Balance, Shares	3,857,143	3,857,143
Conversion to ordinary shares upon IPO, value	¥ (188,819)	$ (26,914)
Conversion to ordinary shares upon IPO, shares	(3,857,143)	(3,857,143)
Closing Balance			¥ 188,819	$ 26,914
Closing Balance, Shares			3,857,143	3,857,143
Series C-1 Convertible Preferred Stock [Member] \| Series C -1 [Member]
Temporary Equity [Line Items]
Opening Balance			¥ 0	$ 0
Opening Balance, Shares			0	0
Issuance of Series C-1 Preferred Shares, net of issuance costs, Shares			3,857,143		3,857,143
Issuance of Series C-1 Preferred Shares, net of issuance costs, Value			¥ 183,536		$ 26,160
Adjustment at extinguishment of Series C-1 Preferred Shares			¥ 5,283	$ 754
Closing Balance
Closing Balance, Shares	0	0

Convertible Preferred Shares

12 Months Ended

Dec. 31, 2021

Temporary Equity Disclosure [Abstract]

Convertible Preferred Shares

14. CONVERTIBLE PREFERRED SHARES

On October 18, 2016, the Company issued 5,141,587 shares of Series

A-1

and

A-2

Preferred Shares with a consideration of US$11,282 (equivalent to approximately RMB74,742). In connection with the Series

A-1

and

A-2

Preferred Shares issuance, the Company also issued 2,246,744 warrant to purchase its Series

A-3

Preferred Shares (“Series

A-3

Warrants”).

On September 6, 2017, in connection with the Group’s acquisition of Tasgen Group, the Company issued 16,723,646 shares of Series

A-3

Preferred Shares at a price of US$2.55 per share with a total consideration of US$42,645 (equivalent to approximately RMB289,024).

Series

A-1

Preferred Shares, Series

A-2

Preferred Shares and Series

A-3

Preferred Shares are also referred to as Series A Preferred Shares.

On September 22, 2017, the Company issued 15,894,594 shares of Series B Preferred Shares with a consideration of US$52,546 (equivalent to approximately RMB346,515). In connection with the Series B Preferred Shares issuance, the Company also issued convertible promissory notes that are convertible into Series

B-1

Preferred Shares (“2017 Notes” and see Note 15) and 5,633,780 warrants to purchase its Series

B-2

Preferred Shares (“Series B Warrant” and see Note 16).

Concurrently with the Company’s issuance of Series B Preferred Shares, the Company also completed a round of onshore financing with respect to the Group’s subsidiary

I-MAB

Tianjin (“Series B Onshore Financing”). Series B Onshore Financing comprised 1) capital injection to

I-Mab

Tianjin by a number of investors (“Series B Onshore Investors”) (see Note 15), 2)

I-Mab

Tianjin’s issuance of convertible loans (“Onshore Convertible Loans” and see Note 15), and 3) the Company’s issuance of 2,620,842 warrants to purchase its Series

B-2

Preferred Shares (“Series B Warrants” and see Note 16).

On June 29, 2018, the Company issued total 8,361,823 shares of Series

A-3

Preferred Shares upon exercise of Series

A-3

Option held by its holder.

On June 29, 2018, the Company issued 2,535,201 shares of Series

B-1

Preferred Shares upon conversion of 2017 Notes and issued 2,253,512 shares of Series

B-2

Preferred Shares upon exercise of Series B Warrant by Series B preferred shareholders.

On June 29, 2018, the Company issued 5,938,640 shares of Series B Preferred Shares upon exercise of the Series B Option held by a Series B Onshore Investor and issued 947,218 shares of Series

B-1

Preferred Shares upon conversion of Onshore Convertible Loans by a Series B Onshore Investor (see Note 15), respectively.

On July 6, 2018, the Company issued 1,455,549 shares of Series B Preferred Shares upon exercise of the Series B Option held by a Series B Onshore Investor, issued 232,161 shares of Series

B-1

Preferred Shares upon conversion of Onshore Convertible Loans by a Series B Onshore Investor (see Note 15) and issued 1,048,337 shares of Series

B-2

Preferred Shares upon exercise of Series B Warrant by Series B Onshore Investors, respectively.

Series B Preferred Shares, Series

B-1

Preferred Shares and Series

B-2

Preferred Shares are also referred to as Series B Preferred Shares.

On July 6, 2018, the Company issued 31,046,360 shares of Series C Preferred Shares at a price of US$6.4419 per share with a total consideration of US$200,000 (equivalent to approximately RMB1,323,363). In connection with the offering of the Series C Preferred Shares, the Company incurred issuance costs of RMB16,730.

On July 25, 2019, the Group entered into a share purchase agreement with certain third party investors, under which these investors will subscribe for an aggregate of 3,857,143 Series

C-1

convertible preferred shares of the Company for an aggregate purchase price of US$27.0 million. Out of the aforementioned subscription of 3,857,143 Series

C-1

convertible preferred shares by certain third party investors, 1,428,571 Series

C-1

convertible preferred shares were issued to an investor on October 17, 2019, and the Group also received the cash consideration of US$10,000 (equivalent to approximately RMB70,036). On November 6, 2019, the Group received cash consideration of US$17,000 (equivalent to approximately RMB119,387) for the remaining 2,428,572 Series

C-1

convertible preferred shares from the investors and the issuance of such 2,428,572 Series

C-1

convertible preferred shares was consummated on that day. In connection with the offering of the Series

C-1

convertible preferred shares, the Company incurred issuance costs of approximately US$840 (equivalent to approximately RMB5,887).

Series A Preferred Shares, Series B Preferred Shares, Series C Preferred Shares and Series

C-1

Preferred Shares are collectively referred to as Preferred Shares.

Key terms of the Preferred Shares are summarized as follows:

Dividends

The holders of Preferred Shares are entitled to receive dividends, out of any assets legally available therefore, prior and in preference to any declaration or payment of any dividend on the ordinary shares or any other class or series of shares of the Group at the rate of eight percent (8%) of the original issue price per share per annum on each Preferred Share, payable in US$ and annually when, as and if declared by the Board of Directors. Such distributions shall not be cumulative. No dividend, whether in cash, in property or in shares of the capital of the Group, shall be paid on or declared and set aside for any ordinary shares or any other class or series of shares of the Group unless and until all dividends have been paid in full on the Preferred Shares (on an

as-converted

basis).

Conversion

Each Preferred Share may be converted at any time into ordinary shares at the option of the preferred shares holders at the then applicable conversion price. The initial conversion ratio is 1:1, subject to adjustment in the event of (i) share splits, share combinations, share dividends or distribution, other dividends, recapitalizations and similar events, or (ii) issuance of ordinary shares (excluding certain events such as issuance of ordinary shares pursuant to a public offering) at a price per share less than the conversion price in effect on the date of or immediately prior to such issuance.

Conversion (continued)

The Preferred Shares shall be automatically converted into ordinary shares immediately upon the closing of a public offering of the Company’s shares with an offering price (exclusive of underwriting commissions and expenses) that reflects a market capitalization (immediately prior to the public offering) of not less than US$1,000,000,000 or otherwise approved by all directors and certain preferred shareholders as specified in the Company’s memorandum and articles of association (the “Qualified Public Offering”).

The Group determined that there were no beneficial conversion features (“BCF”) identified for any of the Preferred Shares during any of the periods. In making this determination, the Company compared the fair value of the ordinary shares into which the Preferred Shares are convertible with the respective effective conversion price at the issuance date. In all instances, the effective conversion price was greater than the fair value of the ordinary shares. To the extent a conversion price adjustment occurs, as described above, the Group will reevaluate whether or not a beneficial conversion feature should be recognized.

Liquidation

In the event of any liquidation (unless waived by the preferred shareholders) including deemed liquidation, dissolution or winding up of the Company, holders of the Preferred Shares shall be entitled to receive a per share amount equal to one hundred percent (100%) of the original issue price on each Preferred Share, plus an amount representing an internal rate of return of twelve percent (12%) per annum on the original issue price as adjusted for share dividends, share splits, combinations, recapitalizations or similar events, plus all accrued and declared but unpaid dividends thereon, in the sequence of Series C Preferred Shares, Series B Preferred Shares and Series A Preferred Shares. After such liquidation amounts have been paid in full, any remaining funds or assets of the Company legally available for distribution to shareholders shall be distributed on a pro rata basis among the holders of the Preferred Shares, on an

as-converted

basis, together with the holders of the ordinary shares.

Accounting of preferred shares

The Preferred Shares are redeemable by the holders upon a liquidation event, including a deemed liquidation event (e.g., change in control), and as such are presented as mezzanine equity on the consolidated balance sheets. In accordance with ASC

480-10-S99,

each issuance of the convertible preferred shares should be recognized at the date of issuance after deducting fair value allocated to the detachable warrants and issuance costs.

Modification of preferred shares

The Company assesses whether an amendment to the terms of its convertible preferred shares is an extinguishment or a modification using the fair value model.

When convertible redeemable preferred shares are extinguished, the difference between the fair value of the consideration transferred to the convertible redeemable Preferred Shareholders and the carrying amount of such preferred shares (net of issuance costs) is treated as a deemed dividend to the Preferred Shareholders. When convertible redeemable preferred shares are modified and such modification results in value transfer between Preferred Shareholders and ordinary shareholders, the change in fair value resulted from the amendment is treated as a deemed dividend to or from the Preferred Shareholders.

On December 25, 2019, the Company’s shareholders and board of directors approved that, where the final offering price of a Qualified Public Offering is no less than US$4.176 per ordinary share, the agreed provisions related to the number of shares to be converted into the Company’s ordinary shares shall apply with respect to the Series

C-1

Preferred Shares, Series C Preferred Shares, Series

B-2

Preferred Shares and Series

B-1

Preferred Shares, which will generally give rise to a one to multiple conversion of the such rounds of Preferred Shares, provided that unanimous consent of the directors on the final offering price needs to be obtained in the event that the final offering price per ordinary share of such IPO is fixed at a price equal to or higher than US$4.176 per ordinary share but lower than US$5.22 per ordinary share.

The Company evaluated the aforementioned modifications and concluded that they represented modifications, rather than extinguishment, to Series

B-1,

B-2

and C Preferred Shares, which resulted in a transfer of value from ordinary shareholders to preferred shareholders. The combined change in fair value of Series

B-1,

B-2

and C Preferred Shares immediately before and after the modification was US$4.0 million (equivalent to approximately RMB27.8 million) on December 25, 2019. This decrease in fair value of the ordinary shares of US$4.0 million (equivalent to approximately RMB27.8 million) on December 25, 2019 was, in substance, a transfer of wealth mostly from ordinary shareholders to preferred shareholders, and therefore was recorded as a deemed dividend to the preferred shareholders

The Company evaluated the aforementioned modifications and concluded that they represented extinguishment to Series

C-1

Preferred Shares. The difference between the fair value of the modified Series

C-1

Preferred Shares and the carrying value of the original Series

C-1

Preferred Shares was amounting US$0.8 million on December 25, 2019 and represented the fair value of the consideration transferred, and therefore was recognized as a deemed dividend to the preferred shareholders and adjustment to the carrying amount of Series

C-1

Preferred Shares

The Company’s convertible preferred shares activities for the years ended December 31, 2019 and 2020 are summarized below:


	Series A Preferred Shares									Series B Preferred Shares									Series C Preferred Shares									Series C-1 Preferred Shares
	Number of shares			Amount			Amount			Number of shares			Amount			Amount			Number of shares			Amount			Amount			Number of shares			Amount			Amount
				US$			RMB						US$			RMB						US$			RMB						US$			RMB
Balance as of January 1, 2019		30,227,056			102,852			687,482			30,305,212			139,407			921,243			31,046,360			197,478			1,306,633			—			—			—
Issuance of Series C-1 Preferred Shares, net of issuance costs		—			—			—			—			—			—			—			—			—			3,857,143			26,160			183,536
Adjustment at extinguishment of Series C-1 Preferred Shares		—			—			—			—			—			—			—			—			—			—			754			5,283

Balance as of December 31, 2019		30,227,056			102,852			687,482			30,305,212			139,407			921,243			31,046,360			197,478			1,306,633			3,857,143			26,914			188,819

Conversion to ordinary shares upon IPO		(30,227,056	)		(102,852	)		(687,482	)		(30,305,212	)		(139,407	)		(921,243	)		(31,046,360	)		(197,478	)		(1,306,633	)		(3,857,143	)		(26,914	)		(188,819	)
Balance as of December 31, 2020		—			—			—			—			—			—			—			—			—			—			—			—

Employee Benefits - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Postemployment Benefits [Abstract]
Employee benefit expenses	¥ 26,426	¥ 10,049	¥ 14,152

Share-based Compensation - Schedule of Share-based Payment Arrangement Restricted Stock Unit Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
2018 Plan [Member]
Weighted average exercise price
Granted			$ 1.00
Outstanding	$ 1.00	$ 1.00	$ 1.00
2020 Plan [Member]
Weighted average exercise price
Granted	18.85	5.91
Outstanding	7.61	$ 5.91
2021 Plan [Member]
Weighted average exercise price
Granted	26.43
Outstanding	$ 26.44
Restricted Shares [Member] \| 2018 Plan [Member]
Numbers of shares
Granted		1,328,120
Vested		(565,200)
Vested	(762,920)
Numbers of shares, Outstanding		762,920
Weighted average exercise price
Granted		$ 1.00
Vested	$ 1.00	1.00
Outstanding		$ 1.00
Weighted average remaining contractual term, Outstanding		9 years 7 months 24 days
Aggregate intrinsic value, Outstanding		$ 14,877
Restricted Shares [Member] \| 2020 Plan [Member]
Numbers of shares
Granted	1,649,045	4,093,079
Forfeited	(198,872)	(13,461)
Vested		(4,048,000)
Vested	(4,048,000)
Numbers of shares, Outstanding	1,481,791	4,079,618
Weighted average exercise price
Vested		$ 17.15
Weighted average remaining contractual term, Outstanding	8 years 11 months 12 days	9 years 8 months 12 days
Aggregate intrinsic value, Outstanding	$ 30,531	$ 83,632
Restricted Shares [Member] \| 2021 Plan [Member]
Numbers of shares
Granted	1,827,166
Forfeited	(170,913)
Numbers of shares, Outstanding	1,656,253
Weighted average exercise price
Weighted average remaining contractual term, Outstanding	9 years 6 months 25 days
Aggregate intrinsic value, Outstanding	$ 34,126

Inventories (Tables)

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Summay of inventories consist

Inventories consist of the following:


	As of December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
Investigational products		—		27,237		4,274

Accruals And Other Payables - Summary of accruals and other payables (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)
Current:
Staff salaries and welfare payables	¥ 52,526	$ 8,242	¥ 94,133
Accrued external research and development activities related expenses	367,976	57,743	218,583
Accrued cost in relation to planned dual listing	4,793	752	2,010
Accrued private placement offering costs payable	0	0	128,786
Termination fee (Note 18)	57,381	9,004	0
Non-refundable incentive payment from depositary bank	2,369	372	2,424
Accrued traveling expenses, office expenses and others	108,290	16,994	114,622
Accounts Payable and Accrued Liabilities, Current	593,335	93,107	560,558
Non-current:
Non-refundable incentive payment from depositary bank	4,934	774	7,474
Non-refundable payment received in relation to the exclusive promotion right granted to a third party	10,000	1,569	0
Advance payment received from an employee for exercise of stock options	0	0	1,501
Accounts Payable and Accrued Liabilities, Non-current	14,934	2,343	8,975
Total	¥ 608,269	$ 95,450	¥ 569,533

Property, Equipment And Software

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property, Equipment and Software

6. PROPERTY, EQUIPMENT AND SOFTWARE

Property, equipment and software consist of the following:


	As of December 31,			As of December 31,
	2020			2021
	RMB			RMB			US$ (Note 2.5)
Cost
Laboratory equipment		30,808			36,295			5,696
Leasehold improvement		13,842			18,945			2,973
Software		9,990			11,071			1,737
Office furniture and equipment		1,531			2,468			387

Total property, equipment and software		56,171			68,779			10,793
Less: accumulated depreciation and amortization		(30,899	)		(44,162	)		(6,930	)

Net book value		25,272			24,617			3,863
Construction in progress		—			21,099			3,311

Total net book value of property, equipment and software		25,272			45,716			7,174

The total amounts charged to the consolidated statements of comprehensive income/(loss) for depreciation and amortization expenses amounted to approximately RMB9.8 million, RMB12.7 million and RMB13.8 million, for the years ended December 31, 2019, 2020 and 2021, respectively.

Investments Accounted for Using the Equity Method and Put Right Liabilities - Summary of Estimate the Fair Value of the Put Right Using the Following Assumptions (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Investments Accounted For Using The Equity Method And Put Right Liabilities [Abstract]
Expected terms (Year)	2 years 8 months 12 days	3 years 8 months 12 days
Estimated volatility	34.50%	55.90%
Spot price	$ 171,134	$ 143,804
Probability of triggering event for redemption option	70.00%	65.00%

Property, Equipment And Software - Schedule of property, equipment and software, net (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)
Property, Plant and Equipment, Net, by Type [Abstract]
Total property, equipment and software	¥ 68,779	$ 10,793	¥ 56,171
Less: accumulated depreciation and amortization	(44,162)	(6,930)	(30,899)
Net book value	24,617	3,863	25,272
Construction in progress	21,099	3,311
Total net book value of property, equipment and software	45,716	7,174	25,272
Laboratory Equipment [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Total property, equipment and software	36,295	5,696	30,808
Leasehold improvement [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Total property, equipment and software	18,945	2,973	13,842
Software [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Total property, equipment and software	11,071	1,737	9,990
Office furniture and equipment [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Total property, equipment and software	¥ 2,468	$ 387	¥ 1,531

Principal Accounting Policies - Summary of Roll Forward of Major Level 3 Financial Assets and Financial Liability (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Short-term Investments [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value of Level 3 financial asset and liability	¥ 31,530	¥ 32,000
Purchase of short-term investments	10,173,314	2,491,991
Disposal of short-term investments	(9,482,040)	(2,503,749)
Grant of put right liabilities		0
Fair value change	30,360	11,288
Currency translation differences	0
Fair value of Level 3 financial asset and liability	753,164	31,530
Put Right Liabilities [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value of Level 3 financial asset and liability	116,006	0
Purchase of short-term investments	0	0
Disposal of short-term investments		0
Grant of put right liabilities		124,321
Fair value change	(16,628)	(3,024)
Currency translation differences	(2,467)	(5,291)
Fair value of Level 3 financial asset and liability	¥ 96,911	¥ 116,006

Property, Equipment And Software (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Schedule of property, equipment and software, net

Property, equipment and software consist of the following:


	As of December 31,			As of December 31,
	2020			2021
	RMB			RMB			US$ (Note 2.5)
Cost
Laboratory equipment		30,808			36,295			5,696
Leasehold improvement		13,842			18,945			2,973
Software		9,990			11,071			1,737
Office furniture and equipment		1,531			2,468			387

Total property, equipment and software		56,171			68,779			10,793
Less: accumulated depreciation and amortization		(30,899	)		(44,162	)		(6,930	)

Net book value		25,272			24,617			3,863
Construction in progress		—			21,099			3,311

Total net book value of property, equipment and software		25,272			45,716			7,174

Share-Based Compensation

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Share-Based Compensation

17. SHARE-BASED COMPENSATION

(a) Restricted shares

October 2016

, the Founders entered into an arrangement with other investors of the Company, and the

87,441

ordinary shares issued to the Founders in

June 2016

were canceled and out of the remaining

3,932,113

ordinary shares held by the Founders,

% became restricted and subject to service vesting conditions, that

will

vest

% and

% over the next three years, respectively. There shall be no acceleration of the vesting schedule except that, in case of a change of control of the Company or a Qualified Public Offering, or the termination of the Founder’s employment with the Group without cause.

Deferred share-based compensation was measured for the restricted shares using the estimated fair value of the Company’s ordinary shares of US$0.77 at the date of imposition of the restriction in October 2016, and was amortized to the consolidated statements of comprehensive loss by using graded vesting method over the vesting term of 3 years. As of December 31, 2019, all the restricted shares were fully vested.

Share-based compensation expenses related to restricted shares were included in:


	Year Ended December 31,
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
Research and development expenses		470		—		—		—
Administrative expenses		1,096		—		—		—

		1,566		—		—		—

(b) 2017 Employee Stock Option Plan (“2017 Plan”)

In October 2017, the Company adopted the 2017 Plan. Under the 2017 Plan, a maximum aggregate number of 13,376,865 shares that may be issued pursuant to all awards granted was approved. Stock options granted to an employee under the 2017 Plan will be exercisable upon the Company completes a listing and the employee renders service to the Company in accordance with a stipulated service schedule starting from the employee’s date of employment. Employees are generally subject to a three-year service schedule, under which an employee earns an entitlement to vest in 50% of the option grants on the second anniversary of the grant date, a vesting of the remaining 50% on the third anniversary of the applicable grant date. The stock option under 2017 Plan, to the extent then vested, shall become exercisable only upon the earlier of (i) a listing, and (ii) occurrence of a change in control.

(b) 2017 Employee Stock Option Plan (“2017 Plan”) (continued)

On December 25, 2019, the Second Amended and Restated 2017 Plan was approved by the shareholders and board of directors of the Company, pursuant to which, in connection with the Company’s IPO, the maximum aggregate number of shares that may be granted pursuant to all awards under 2017 Plan shall be adjusted in accordance with a formula

pre-approved

by the shareholders. In connection with above amendments to 2017 Plan, each of the Company’s founders, namely Zheru Zhang, Lili Qian, Zhengyi Wang and Lei Fang, is willing to irrevocably surrender by him or her, for no consideration, a portion of the unvested options granted to him or her, which, if vested, would entitle him or her to acquire up to 130,000 ordinary shares of the Company, par value US$0.0001 per share, at an exercise price of US$1.0, respectively, under the Second Amended and Restated 2017 Plan (in respect of each individual, the “Founder’s Surrendered Options”). On December 25, 2019, the board of directors of the Company approved that the Company accepts all Founder’s Surrendered Options from each of the founders, Zheru Zhang, Lili Qian, Zhengyi Wang and Lei Fang, for no consideration, with effect immediately prior to the completion of the IPO and such surrendered options be cancelled with effect immediately prior to the completion of the IPO.

Prior to the Company completes a listing, all stock options granted to an employee shall be forfeited at the time the employee terminates his employment with the Group. After the Company completes a listing, vested options not exercised by an employee shall be exercised until later of: (i) 90 days after the date when the options become exercisable, or (ii) 30 days after the date of cessation of employment or directorship, or such longer period as the Board of Directors may otherwise determine.

For the year ended December 31, 2019, the Group granted 640,000 stock options to its employees (all with an exercise price of US$1

)

. The Group did not grant any stock options to employees for the years ended December 31, 2020 and 2021. 6,790,924 and 2,569,017 stock options were exercisable as of December 31, 2020 and 2021, respectively.

The following table sets forth the stock options activities of 2017 Plan for the periods presented:


	Number of shares			Weighted average exercise price US$		Weighted average remaining contractual term		Aggregate intrinsic value US$
Outstanding as of December 31, 2018		13,005,596			0.95		8.61		70,129

Granted		640,000			1.00		—		—
Forfeited		(397,500	)		1.00		—		—
Repurchased (Note 17(d))		(3,435,215	)		1.00		—		—

Outstanding as of December 31 ,2019		9,812,881			0.93		7.76		47,671
Forfeited		(338,876	)		1.00		—		—
Exercised		(1,439,373	)		0.72		—		—
Surrendered (Note 17(h))		(332,566	)		1.00		—		—

Outstanding as of December 31 ,2020		7,702,066			0.97		6.75		150,415
Exercised		(5,122,549	)		0.96		—		—
Forfeited		(10,500	)		1.00		—		—

Outstanding as of December 31 ,2021		2,569,017			1.00		5.79		50,361

Exercisable as of December 31, 2021		2,569,017			1.00		5.79		50,361

(b) 2017 Employee Stock Option Plan (“2017 Plan”) (continued)

Stock options granted to the employees were measured at fair value on the dates of grant using the Binomial Option Pricing Model with the following assumptions:


	Year ended December 31,
	2019
Expected volatility		54.64	%
Risk-free interest rate (per annum)		2.15	%
Exercise multiple		2.80
Expected dividend yield		—
Time to maturity (in years)		10

The expected volatility was estimated based on the historical volatility of comparable peer public companies with a time horizon close to the expected term of the Group’s options. The risk-free interest rate was estimated based on the yield to maturity of U.S. treasury bonds denominated in US$ for a term consistent with the expected term of the Group’s options in effect at the option valuation date. The expected exercise multiple was estimated as the average ratio of the stock price to the exercise price when employees would decide to voluntarily exercise their vested options. As the Group did not have sufficient information of past employee exercise history, it was estimated by referencing to a widely-accepted academic research publication. Expected dividend yield is zero as the Group has never declared or paid any cash dividends on its shares, and the Group does not anticipate any dividend payments in the foreseeable future. Time to maturity equals to the contract life of the option.

A summary of

non-vested

stock option activities for the year ended December 31, 2021 is presented below:


	Number of shares			Weighted average Grant date fair value US$
Non-vested at December 31, 2020		911,142			4.96
Vested		(900,642	)		4.96
Forfeited		(10,500	)		5.65

Non-vested at December 31, 2021		—			—

Since the exercisability was dependent upon the listing, and it was not probable that this performance condition could be achieved until a listing, no share-based compensation expense relating to the 2017 Plan was recorded prior to the Company’s IPO in 2020.

(b) 2017 Employee Stock Option Plan (“2017 Plan”) (continued)

On January 17, 2020, the Group completed its IPO. After achieving this performance condition, the options continue to vest based only on service period completed according to the graded vesting schedule. The Group has begun recognizing share-based compensation expense for the options granted using the graded vesting method with a cumulative

catch-up

for the service period completed to date during the year ended December 31, 2020 and recognized RMB52,802, RMB69,214 and RMB4,277 share-based compensation expenses in administrative expenses, research and development expenses and equity in loss of an affiliate, respectively relating to options vested cumulatively. According to the amendments to 2017 Plan, the maximum aggregate number of shares which may be granted pursuant to all awards under 2017 Plan was changed to 9,609,084. Each of the Group’s founders, namely Zheru Zhang, Lili Qian, Zhengyi Wang and Lei Fang surrendered 83,142 unvested stock options that were granted to him or her under 2017 Plan before, totall

ing

332,566 unvested options, for no consideration, and these stock options were cancelled immediately.

Share-based compensation expenses related to the stock options of 2017 Plan are included in:


	Year Ended December 31,
	2019		2020		2021
	RMB		RMB		RMB			US$ (Note 2.5)
Research and development expenses		—		69,214		(225	)		(35	)
Administrative expenses		—		52,802		2,835			445
Equity in loss of affiliates		—		4,277		516			81

		—		126,293		3,126			491

On February 22, 2019, the Group adopted the 2018 Plan, which was subsequently amended on July 22, 2019.Under the amended and restated 2018 Plan, the maximum aggregate number of ordinary shares which may be issued pursuant to all awards is 14,005,745, and if the Group successfully lists on an internationally recognized securities exchange for a Qualified Public Offering by December 31, 2019, the maximum aggregate number of ordinary shares which may be issued shall be 15,452,620.

On December 25, 2019, the Second Amended and Restated 2018 Plan were approved by the shareholders and board of directors of the Company, pursuant to which, in connection with the Company’s IPO, the maximum aggregate number of shares that may be granted pursuant to all awards under 2018 Plan shall be adjusted in accordance with a formula

pre-approved

by the shareholders. In connection with above amendments to 2018 Plan, the director of the Company, Dr. Jingwu Zhang Zang is willing to irrevocably surrender by him, for no consideration, of the right to acquire a certain amount of ordinary shares of the Company, par value US$0.0001 per share, at an exercise price of US$1.0 pursuant to the options granted to him under the Second Amended and Restated 2018 Plan (the “Dr. Zang’s Surrendered Options”). On December 25, 2019, the board of directors of the Company approved that the Company accepts the irrevocable surrender of Dr. Zang’s Surrendered Options for no consideration, with effect immediately prior to the completion of the IPO and such surrendered options be cancelled with effect immediately prior to the completion of the IPO.

Stock options granted to an employee under the 2018 Plan will be generally exercisable when the Company completes a listing and the employee renders service to the Company in accordance with a stipulated service schedule starting from the employee’s date of employment. The vesting schedule shall generally be a

two-year

vesting schedule consisting of a cliff vesting 50% on the first anniversary of the applicable vesting commencement date, and a vesting of the remaining 50% on the second anniversary of the applicable vesting commencement date. If a listing occurs at anytime prior to any option granted under the 2018 Plan becoming full vested, and to the extent such option has been granted and outstanding, any such option shall vest in full with immediate effect upon the listing. Except as otherwise approved by the board of directors, vested portion of option shall become exercisable upon the earlier of six months after a listing or the occurrence of a change in control; provided, however that in each case, no option of an employee shall become exercisable until the third anniversary of such employee’s employment commencement date.

Pursuant to the Board of Director’s approval of 2018 Plan on February 22, 2019, the 10,893,028 stock options granted to a director of the Group under 2018 Plan were fully vested and exercisable upon the adoption of 2018 Plan. Out of aforementioned total 10,893,028 stock options, 454,940 stock options were repurchased by the Group (see Note 17 (d) for further details).

The amounts of shared-based compensation expense in relation to the aforementioned grant of stock options to a director of the Group (except for those repurchased by the Group as described in Note 17 (d)) recognized in the year ended December 31, 2019 was RMB365,329 included in administrative expenses.

The following table sets forth the stock options activities of 2018 Plan for the periods presented:


	Number of shares			Weighted average exercise price US$		Weighted average remaining contractual term		Aggregate intrinsic value US$
Outstanding as of January 1, 2019		—			—		—		—
Granted		13,991,528			1.00		—		—
Repurchased (Note 17 (d))		(454,940	)		1.00		—		—

Outstanding as of December 31, 2019		13,536,588			1.00		8.86		64,840
Exercised Surrendered (Note 17 (h))		(402,000 (2,544,917	) )		1.00 1.00		— —		— —

Outstanding as of December 31, 2020		10,589,671			1.00		8.15		206,499
Exercised		(3,036,435	)		1.00		—		—

Outstanding as of December 31, 2021		7,553,236			1.00		7.15		148,076

Exercisable as of December 31, 2021		7,553,236			1.00		7.15		148,076

Stock options granted to certain directors and employees of the Group were measured at fair value on the dates of grant using the Binomial Option Pricing Model with the following assumptions:


	Year ended December 31, 2019
Expected volatility		54.64%-56.31	%
Risk-free interest rate (per annum)		2.15%-2.75	%
Exercise multiple		2.80
Expected dividend yield		—
Time to maturity (in years)		10

A summary of

non-vested

stock option activities for the year ended December 31, 2021 is presented below:


	Number of shares			Weighted average grant-date fair value US$
Non-vested at December 31, 2020		825,000			5.57
Vested		(825,000	)		5.57

Non-vested at December 31, 2021		—			—

Except for the aforementioned grant of stock options to a director of the Group under 2018 Plan, since the exercisability is dependent upon the listing, and it is not probable that this performance condition can be achieved until a listing, no share-based compensation expense related to the 2018 Plan was recorded for the year ended December 31, 2019.

catch-up

for the service period completed to date during the year ended December 31, 2020 and recognized RMB48,055, RMB65,656 and RMB226 share-based compensation expense in administrative expenses and research, development expenses and equity in loss of an affiliate, respectively relating to options vested cumulatively. According to the amendments to 2018 Plan, the maximum aggregate number of shares which may be granted pursuant to all awards under 2018 Plan was changed to 11,005,888. The director of the Company, Dr. Jingwu Zhang Zang surrendered 2,544,917 unvested options that were granted to him under 2018 Plan, for no consideration, and these stock options were cancelled immediately.

Share-based compensation expenses related to the stock optio

ns of 2018 Plan are

included in:


	Year Ended December 31,
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
Research and development expenses		—		65,656		55		9
Administrative expenses		365,329		48,055		4,478		703
Equity in loss of affiliates		—		226		257		40

		365,329		113,937		4,790		752

(d) Repurchase of share awards held by a director

On February 22, 2019, the amendment and restated 2017 equity incentive plan was approved by the Board of Directors of the Group, pursuant to which only the 3,435,215 stock options held by the director (see Note 17(c)) under the 2017 equity incentive plan became fully vested and exercisable on February 22, 2019. As a result of the performance condition being waived, the stock options held by the director of the Group were accounted for as a Type III modification where a condition that the Group expects will not be satisfied is changed to a condition that the Group expects will be satisfied.

Additionally, on the same day, the Group repurchased such 3,435,215 stock options under the amendment and restated 2017 equity incentive plan that was held by the director of the Group along with 454,940 of his stock options under the 2018 equity incentive plan for which the share awards also became fully vested and exercisable, at a total consideration of US$21,902 (equivalent to approximately RMB148,308) at an average share price of US$5.63 per share.

For the year ended December 31, 2019, the Group recorded the total payment of US$21,902 (equivalent to approximately RMB148,308) as share-based compensation costs (included in administrative expenses) in the consolidated statement of comprehensive loss. There was no impact to the overall stockholder’s equity balance as the amended shares vested immediately and were repurchased.

(e) 2019 Share Incentive Plan (“2019 Plan”)

On October 29, 2019, the Group adopted 2019 Share Incentive Plan (the “2019 Plan”), which will become effective immediately prior to the completion of the Company’s initial public offering. Under the 2019 Plan, the maximum aggregate number of ordinary shares available for issuance shall initially be 100,000.

The options shall vest when the Group completes a listing and the employee renders service to the Group in accordance with a stipulated service schedule starting from the employee’s date of employment. Stock options granted to 3 independen

directors under the 2019 Plan will be generally exercisable under the following terms:(a) a cliff vesting of 1/3 of the option on the first anniversary of the vesting commencement date (January 17, 2020); (b) a cliff vesting of 1/3 of the option on the second anniversary of the vesting commencement date (January 17, 2020); (c) a vesting of the remaining 1/3 of the option on the third anniversary of the vesting commencement date. In the last year of the grantee’s service, the options shall vest on a prorated basis to reflect the portion of the year during which the grantee provided services to the Group.

For the year ended December 31, 2020, the Group granted 72,000 stock options to 3 independent directors (all with an exercise price of US$6.09) and recognized RMB1,171 share-based compensation expenses in administrative expenses according to the options’ vesting schedule. No options were exercisable as of December 31, 2020 and 24,000 options were exercisable as of December 31, 2021.

(e) 2019 Share Incentive Plan (“2019 Plan”) (continued)

The following table sets forth the stock options activities of 2019 Plan for periods presented:


	Number of shares		Weighted average exercise price US$		Weighted average remaining contractual term		Aggregate intrinsic value US$
Outstanding as of December 31, 2019		—		—		—		—
Granted		72,000		6.09		—		—

Outstanding as of December 31, 2020		72,000		6.09		9.33		1,038
Granted		—		—		—		—
Outstanding as of December 31, 2021		72,000		6.09		8.05		1,045

Exercisable as of December 31, 2021		24,000		6.09		8.05		348

A summary of

non-vested

stock options activity for the year ended December 31, 2021 is presented below:


	Number of shares			Weighted average grant-date fair value US$
Non-vested at December 31, 2020		72,000			4.50
Vested		(24,000	)		4.50

Non-vested at December 31, 2021		48,000			4.50

Stock options granted to the 3 independent directors were measured at fair value on the dates of grant using the Binomial Option Pricing Model with the following assumptions:


	Year Ended December 31,
	2020
Expected volatility		54.88	%
Risk-free interest rate (per annum)		0.79	%
Exercise multiple		2.80
Expected dividend yield		—
Time to maturity (in years)		10

(e) 2019 Share Incentive Plan (“2019 Plan”) (Continued)

Share-based compensation expenses related to the stock options of 2019 Plan are included in:


	Year Ended December 31,
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
Research and development expenses		—		—		—		—
Administrative expenses		—		1,171		707		111
Equity in loss of affiliates		—		—		—		—

		—		1,171		707		111

(f) 2020 Plan

On July 15, 2020, the Group adopted 2020 Plan. Under the 2020 Plan, the maximum aggregate number of shares authorized to be issued is 10,760,513 ordinary shares, provided that the maximum number of shares to be issued in the form of restricted share units shall not exceed 7,686,081 ordinary shares.

Stock options granted to employees under the 2020 Plan are graded vesting in four years with 25% vesting each year.

For the year ended December 31, 2020 and 2021, the Group granted 1,068,733 and 133,913 stock options to its employees, respectively. No option became exercisable as of December 31, 2020.

The following table sets forth the stock options activities of 2020 Plan for the periods presented:


	Number of shares			Weighted average exercise price US$		Weighted average remaining contractual term		Aggregate intrinsic value US$
Outstanding as of December 31, 2019		—			—		—		—
Granted		1,068,733			5.91		—		—
Forfeited		(24,365	)		5.91		—		—

Outstanding as of December 31, 2020		1,044,368			5.91		9.62		15,237
Granted		133,913			18.85		—		—
Exercised		(68,859	)		5.91		—		—
Expired		(154	)		5.91		—		—
Forfeited		(111,495	)		6.23		—		—

Outstanding as of December 31, 2021		997,773			7.61		8.68		12,967

Exercisable as of December 31, 2021		192,340			5.91		8.53		2,826

A summary of

non-vested

stock option activities for the year ended December 31, 2021 is presented below:


	Number of shares			Weighted average grant-date fair value US$
Non-vested at December 31, 2020		1,044,368			8.71
Granted		133,913			13.33
Vested		(261,353	)		9.03
Forfeited		(111,495	)		8.65

Non-vested at December 31, 2021		805,433			9.44

Stock options granted to the employees were measured at fair value on the dates of grant using the Binomial Option Pricing Model with the following assumptions:


	Year Ended December 31,
	2020
Expected volatility		56.51	%
Risk-free interest rate (per annum)		0.86	%
Exercise multiple		2.20-2.80
Expected dividend yield		—
Time to maturity (in years)		10

Share-based compensation expenses related to the stock options of 2020 Plan are included in:


	Year Ended December 31,
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
Research and development expenses		—		10,435		14,915		2,340
Administrative expenses		—		4,357		8,702		1,366
Equity in loss of affiliates		—		1,619		3,262		512

	—		16,411		26,879		4,218

Restricted share units granted to employees under the 2020 Plan will be exercisable under the following items:

(a) 1/3 of the awarded restricted share units shall vest based on the following time attribution:(i) a vesting of 25% of the time attribution based restricted share units on the first anniversary of the applicable adoption date;(ii) a vesting of 25% of the time attribution based restricted share units on the second anniversary of the applicable adoption date;(iii) a vesting of 25% of the time attribution based restricted share units on the third anniversary of the applicable adoption date;(iv) a vesting of 25% of the time attribution based restricted share units on the fourth anniversary of the applicable adoption date.

(b) 1/3 of the awarded restricted share units shall vest based on the Group’s weighted average market value during the last 30 days prior to the initial vesting date, the terms and conditions of which are set forth in the executed award agreements. In the event that dilution of additional share issuance occurs, the market value targets herein shall be adjusted accordingly with the proportion of additional share issuance. In the event that the average market value of Standard & Poor’s 500 index falls by more than 20% from the date of grant, it shall be deemed as a decline of the market, and the board of the Group or a committee that board delegated its powers or authority to shall adjust the vesting schedule as appropriate.

(c) 1/3 of the awarded restricted share units shall vest based on certain performance conditions:(i) a vesting of 20% of the performance conditions based restricted share units if one of the performance conditions has been met at the initial vesting date;(ii) a vesting of 40% of the performance conditions based restricted share units if two of the performance conditions have been met at the initial vesting date;(iii) a vesting of 60% of the performance conditions based restricted share units if three of the performance conditions have been met at the initial vesting date;(iv) a vesting of 80% of the performance conditions based restricted share units if four of the performance conditions have been met at the initial vesting date; (v) a vesting of all of the performance conditions based restricted share units if five of the performance conditions or more have been met at the initial vesting date. As of December 31, 2020, it is probable that the 1/3 of the awarded restricted share units are fully vested because it is probable that at least five of the performance conditions will be met at the initial vesting date.

Notwithstanding the foregoing, if the Group’s weighted average market value during the last 30 days prior to the initial vesting date reaches US$2 billion or above, and to the extent such restricted share units have been granted and outstanding, any such restricted share unit (except for those are based on time attribution) shall vest in full with immediate effect, inure to the benefit of the related grantees.

For the year ended December 31, 2020 and 2021, the Group granted 4,093,079 and 1,649,045 restricted share units to employees, respectively. No restricted share units became exercisable as of December 31, 2020.

The following table sets forth the restricted share units of 2020 Plan for the periods presented:


	Number of restricted share units			Weighted average exercise price US$		Weighted average remaining contractual term		Aggregate intrinsic value US$
Outstanding as of December 31, 2019		—			—		—		—
Granted		4,093,079			—		—		—
Forfeited		(13,461	)		—		—		—

Outstanding as of December 31, 2020		4,079,618			—		9.70		83,632
Granted		1,649,045			—		—		—
Vested		(4,048,000	)		—		—		—
Forfeited		(198,872	)		—		—		—

Outstanding as of December 31, 2021		1,481,791			—		8.95		30,531

A summary of

non-vested

restricted share units activities for the year ended December 31, 2021 is presented below:


	Number of restricted share units			Weighted average grant-date fair value US$
Non-vested at December 31, 2020		4,079,618			14.00
Granted		1,649,045			25.60
Vested		(4,048,000	)		17.15
Forfeited		(198,872	)		14.63

Non-vested at December 31, 2021		1,481,791			17.80

Share-based compensation expenses related to the aforementioned restricted share units of 2020 Plan are included in:


	Year Ended December 31,
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
Research and development expenses		—		71,945		118,368		18,575
Administrative expenses		—		76,663		227,392		35,681
Equity in loss of affiliates		—		7,500		8,512		1,336

		—		156,108		354,272		55,592

Apart from the aforementioned restricted share units, up to 1,446,875 shares can be issued in the form of restricted share unit to eligible grantees that the board of the Group or a committee that board delegated its powers or authority determined appropriate with immediate effect of being fully vested, which are defined as special awards and are subject to terms and conditions under 2018 Plan.

For the year ended December 31, 2020, the Group granted 1,328,120 such restricted share units to employees. As of December 31, 2020, 565,200 restricted share units were vested, among which 558,220 restricted share units were vested but not issued as ordinary shares as the employees will not be entitled to the rights of ordinary shares from the Group until they have the consideration for the transaction settled.

The following table sets forth the restricted share units subject to terms and conditions under 2018 Plan for the periods presented:


	Number of restricted share units			Weighted average exercise price US$		Weighted average remaining contractual term		Aggregate intrinsic value US$
Outstanding as of December 31, 2019		—			—		—		—
Granted		1,328,120			1.00		—		—
Vested		(565,200	)		1.00		—		—

Outstanding as of December 31, 2020		762,920			1.00		9.65		14,877

Vested		(762,920	)		1.00		—		—

Outstanding as of December 31, 2021		—			—		—		—

A summary of

non-vested

restricted share units activities for the year ended December 31, 2021 is presented below:


	Number of restricted share units			Weighted average grant-date fair value US$
Non-vested at December 31, 2020		762,920			12.89
Vested		(762,920	)		12.89

Non-vested at December 31, 2021		—			—

Share-based compensation expenses related to these restricted share units are included in:


	Year Ended December 31,
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
Research and development expenses		—		67,181		4,156		652
Administrative expenses		—		25,985		54,011		8,476
Equity in loss of affiliates		—		19,085		720		113

		—		112,251		58,887		9,241

(g) 2021 Share Incentive Plan (“2021 Plan”)

On May 28, 2021, the Group adopted 2021 Plan. Under the 2021 Plan, the maximum aggregate number of shares authorized to be issued is 12,023,618 ordinary shares, provided that the maximum number of shares to be issued in the form of restricted share units shall not exceed 6,011,809 ordinary shares.

Stock options granted to employees under the 2021 Plan are graded vesting in four years with 25% vesting each year.

The following table sets forth the stock options activities of 2021 Plan for the year ended December 31, 2021:


	Number of shares			Weighted average exercise price US$		Weighted average remaining contractual term		Aggregate intrinsic value US$
Outstanding as of December 31, 2020		—			—		—		—
Granted		2,698,245			26.43		—		—
Forfeited		(253,805	)		26.39		—		—

Outstanding as of December 31, 2021		2,444,440			26.44		9.57		—

Exercisable as of December 31, 2021		—			—		—		—

A summary of

non-vested

stock option activities for the year ended December 31, 2021 is presented below:


	Number of shares			Weighted average grant-date fair value US$
Non-vested at December 31, 2020		—			—
Granted		2,698,245			14.17
Forfeited		(253,805	)		14.66

Non-vested at December 31, 2021		2,444,440			14.12

Stock options granted to the employees were measured at fair value on the dates of grant using the Binomial Option Pricing Model with the following assumptions:


	Year Ended December 31,
	2021
Expected volatility		51.77%-54.37%
Risk-free interest rate (per annum)		1.44%-1.68%
Exercise multiple		2.2-2.80
Expected dividend yield		—
Time to maturity (in years)		10

Time to maturity equals to the contract life of the option.

Share-based compensation expenses related to the stock options of 2021 Plan are included in:


	Year Ended December 31,
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
Research and development expenses		—		—		20,430		3,206
Administrative expenses		—		—		35,226		5,528

		—		—		55,656		8,734

Restricted share units granted to employees under the 2021 Plan will be exercisable under the following items:

(b) 1/3 of the awarded restricted share units shall vest based on the Group’s weighted average share price during any consecutive 90 days within one year after the adoption date of 2021 Plan (the “Share Price Based Awards”):

i. a vesting of 75% of the Share Price Based Awards on the first anniversary of the adoption date of 2021 Plan, if the Group’s weighted average share price reaches the first share price level as approved by the Board;

ii. a vesting of 100% of the Share Price Based Awards on the first anniversary of the adoption date of 2021 Plan, if the Group’s weighted average share price reaches the second share price level as approved by the Board;

In the event that any share issuance in connection with any share split, share dividend, reclassification or other similar event occurs, the target share price herein shall be adjusted accordingly with the proportion of additional share issuance. In the event that the average market value of NASDAQ Biotechnology Index falls by more than 20% from the adoption date of the 2021 Plan, it shall be deemed as a decline of the market, and the Group shall adjust the vesting schedule as appropriate.

(c) 1/3 of the awarded restricted share units shall vest based on the performance conditions as approved by the Board (the “Performance Conditions Based Awards”):

i. a vesting of 75% of the Performance Conditions Based Awards if more than nine (including nine) but less than twelve of the fifteen performance conditions have been met on or before the first anniversary of the adoption date;

ii. a vesting of all of Performance Conditions Based Awards if more than twelve (including twelve) of the fifteen performance conditions have been met on or before the first anniversary of the adoption date;

As of December 31, 2021, it is probable that the 1/3 of the awarded restricted share units are fully vested because it is probable that the Group’s weighted average share price can reach the second share price level as approved by the Board during any consecutive 90 days within one year after the adoption date of 2021 Plan, and more than twelve of the fifteen performance conditions will be met on or before the first anniversary of the adoption date.

The following table sets forth the restricted share units of 2021 Plan for the period presented:


	Number of restricted share units			Weighted average exercise price US$		Weighted average remaining contractual term		Aggregate intrinsic value US$
Outstanding as of December 31, 2020		—			—		—		—
Granted		1,827,166			—		—		—
Forfeited		(170,913	)		—		—		—

Outstanding as of December 31, 2021		1,656,253			—		9.57		34,126

A summary of

non-vested

restricted share units activities for year ended December 31, 2021 is presented below:


	Number of restricted share units			Weighted average grant-date fair value US$
Non-vested at December 31, 2020		—			—
Granted		1,827,166			26.44
Forfeited		(170,913	)		26.38

Non-vested at December 31, 2021		1,656,253			26.45

Share-based compensation expenses related to the restricted share units of 2021 Plan are included in:


	Year Ended December 31,
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
Research and development expenses		—		—		44,227		6,940
Administrative expenses		—		—		73,332		11,507

		—		—		117,559		18,447

(h) Establishment of Biomaster Trust

Biomaster Trust was established under the trust deed dated October 23, 2019, between the Company and TMF Trust (HK) Limited, or TMF Trust, as the trustee of the Biomaster Trust. Through the Biomaster Trust, the Company’s ordinary shares and other rights and interests under awards granted pursuant to 2017 Plan and 2018 Plan may be provided to certain recipients of equity awards. Upon satisfaction of vesting conditions, TMF Trust will exercise the equity awards and transfer the relevant ordinary shares and other rights and interests under the equity awards to the relevant grant recipients with the consent of the advisory committee of Biomaster Trust. TMF Trust shall not exercise the voting rights attached to such ordinary shares unless otherwise directed by the advisory committee, whose members shall be appointed by

I-Mab.

The Company has the power to direct the relevant activities of Biomaster Trust and it has the ability to use its power over the Biomaster Trust to affect its exposure to returns. Therefore, the assets and liabilities of the Biomaster Trust are included in the Group’s consolidated balance sheets.

(i) Surrender of stock options

On January 17, 2020, the Group completed its IPO. According to the amendments to 2017 Plan, the maximum aggregate number of shares which may be granted pursuant to all awards under 2017 Plan was changed to 9,609,084. Each of the Company’s founders, namely Zheru Zhang, Lili Qian, Zhengyi Wang and Lei Fang surrendered 83,142 unvested stock options that were granted to him or her under 2017 Plan before, totally 332,566 unvested options, for no consideration, and these stock options were cancelled immediately. According to the amendments to 2018 Plan, the maximum aggregate number of shares which may be granted pursuant to all awards under 2018 Plan was changed to 11,005,888. The director of the Company, Dr. Jingwu Zhang Zang surrendered 2,544,917 unvested options that were granted to him under 2018 Plan, for no consideration, and these stock options were cancelled immediately. Upon the completion of the Company’s IPO in January 2020, the Group has recorded RMB91,051 share-based compensation expense related to these surrendered options.

The stock options surrendered by the founders should be accounted for as capital contribution. As the founders did not get the title of the stock options to be surrendered and the number of stock options would not be determined until listing, the capital contribution was not accounted for during the year ended December 31, 2019. For the year ended December 31, 2020, the Group has reclassified RMB91,051 from additional

paid-in

capital – share-based compensation to additional

paid-in

capital – capital contribution relating to the stock options surrendered in the consolidated statement of comprehensive income.

Share-Based Compensation Expense

The allocation of share-based compensation expense was as follows:


	Year Ended December 31,
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
Research and development expenses		470		284,431		201,926		31,687
Administrative expenses		514,733		209,033		406,683		63,817
Equity in loss of an affiliate		—		32,707		13,267		2,082

		515,203		526,171		621,876		97,586

Ordinary Shares	12 Months Ended
Ordinary Shares	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
Ordinary shares	13. ORDINARY SHARES As of December 31, 2018 and 2019, 500,000,000 ordinary shares had been authorized by the Company. Each ordinary share is entitled to one vote. The holders of ordinary shares are also entitled to receive dividends whenever funds are legally available and when declared by the Board of Directors of the Company. On October 29, 2019, the Company’s shareholders and board of directors approved that immediately prior to the completion of initial public offering, the Company’s authorized share capital will be changed into US$80,000 divided into 800,000,000 ordinary shares of a par value of US$0.0001 each. On January 17, 2020, the Company completed its IPO and became listed on the Nasdaq Global Market by issuing 7,407,400 American Depositary Shares (“ADSs”) at the price of US$14.00 per ADS for total gross proceeds of US$103.7 million. On February 10, 2020, the underwriters of the IPO have exercised their over-allotment option to purchase an additional 768,350 ADSs of the Company at the IPO price of US$14.00 per ADS. After giving effect to the exercise of the over-allotment option, the Company has issued and sold a total of 8,175,750 ADSs in the IPO, for total net proceeds of US$101.3 million (equivalent to RMB697,788), netting of issuance cost from total gross proceeds of US$114.5 million. Each ten ADSs represent twenty-three ordinary shares of the Company. On January 17, 2020, the Company also issued 6,078,571 ordinary shares to Everest (see Note 18 for details). Upon the completion of the IPO, the Company’s then outstanding 30,227,056 Series A Preferred Shares, 23,288,783 Series B Preferred Shares, 3,714,580 Series B-1 Preferred Shares, 3,301,849 Series B-2 Preferred Shares, 31,046,360 Series C Preferred Shares and 3,857,143 Series C-1 Preferred Shares were converted into 30,227,056, 23,288,783, 3,714,580, 3,571,427, 34,420,469 and 4,537,814 ordinary shares, respectively. On July 15, 2020, the Company’s Board of Directors approved a share repurchase program to repurchase in the open market up to US$20 million worth of outstanding ADSs of the Group. The Company made a total prepayment of US$5,000 (equivalent to RMB34,051) for the share repurchase. The prepayment was collected subsequently in October 2020. No repurchase activity was taken place for the year ended December 31, 2021. On September 3, 2020, the Company entered into definitive subscription agreements with a consortium of institutional investors (the “Investors”) to raise approximately US$418 million through a private placement. The consortium is led by Hillhouse Capital Group (“Hillhouse”), with significant participation by GIC Private Limited, and also includes certain other leading Asian and U.S. biotech investment funds, Hillhouse is entitled to nominate one representative to I-Mab’s Board of Directors. The private placement comprises (1) the sale to the Investors of the Group’s 29,133,502 ordinary shares (equivalent to 12,666,740 ADSs) at a purchase price equivalent to US$33 per ADS amounting to approximately US$418 million; and (2) warrants (the “Investor Warrants”, see Note 16(b)) to subscribe for an aggregate of 5,341,267 ordinary shares (equivalent to 2,322,290 ADSs) at an exercise price equivalent to US$45 per ADS, which may further increase the proceeds of approximately US$104.5 million if the Investor Warrants are fully exercised. The Investor Warrants will remain exercisable at the election of the Investors within 12 months after the closing of the private placement. All of the warrants were exercised by the Investors during the year ended December 31, 2021. The subscription agreement with the Hillhouse entities contemplates two closings. The first closing occurred on September 11, 2020, and the second closing is conditioned upon an existing director of the Company having resigned to enable the Hillhouse entities to appoint a director to replace such director and the lemzoparlimab out-licensing agreement with AbbVie Ireland Unlimited Group (“AbbVie”) (see Note 18) being or remaining effective. Upon the first closing, 20,421,378 ordinary shares and 3,744,032 Investor Warrants were issued to the Investors for total gross proceeds of approximately US$293.0 million. On December 17, 2020, the Group entered into a written amendment made to the subscription agreement with the Hillhouse entities, which removed one of the two conditions for the second closing that an existing director of the Company having resigned to enable the Hillhouse entities to appoint a director to replace such director. The second closing occurred as the other condition was satisfied and 8,712,124 ordinary shares as well as 1,597,235 Investor Warrants were issued to the Hillhouse entities for total gross proceeds of approximately US$125.0 million. The total net proceeds, netting of issuance cost, from the private placement was US$397.2 million (equivalent to RMB2,653,669). As of December 31, 2021, 10,069,216 stock options were exercised, and 5,376,140 restricted share units were issued as ordinary shares.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

8. INTANGIBLE ASSETS

Intangible assets as of December 31, 2020 and 2021 are summarized as follows:


	As of December 31, 2020
	Gross carrying amount		Accumulated amortization			Net carrying amount
	RMB		RMB			RMB
Intangible assets
TJ103		11,670		(1,556	)		10,114
IPR&D TJ101		110,330		—			110,330

Total intangible assets		122,000		(1,556	)		120,444


	As of December 31, 2021
	Gross carrying amount		Accumulated amortization			Net carrying amount
	RMB		RMB			RMB
Intangible assets
TJ103		11,670		(2,334	)		9,336
IPR&D TJ101		110,330		—			110,330

Total intangible assets		122,000		(2,334	)		119,666

The three IPR&D assets (TJ103, TJ101, and TJ102) were acquired from the business combination of

I-Mab

Tianjin and its subsidiaries including Chengdu Tasgen

Bio-Tech

Co., Ltd. and Shanghai Tianyunjian

Bio-Tech

Co., Ltd. (together the “Tasgen Group”) in 2017. The licensor of these IPR&D assets was Genexine, Inc. The gross carrying amounts represent the fair value assigned to the respective research and development assets. At the date of acquisition, all three assets had not reached technological feasibility. They were considered indefinite lived.

IPR&D related to TJ103 was subsequently determined to have a finite useful life as a result of an

out-licensing

arrangement. Consequently, the Group uses the straight-line method to amortize the asset. The amortization for the years ended December 31, 2019, 2020 and 2021 was nil, 1,556, and RMB778

respectively. The estimated amortization expense for each of the five succeeding fiscal years is

RMB778.

On September 15, 2020,

I-Mab

Hong Kong and Genexine, Inc. entered into amendments to Intellectual Property License Agreement with

I-Mab

Hangzhou to assign and transfer all the rights and obligations related to TJ102 to

I-Mab

Biopharma (Hangzhou) Limited

(“I-Mab

Hangzhou”), pursuant to an equity transfer and investment agreement entered into between

I-Mab

Hong Kong and various parties (see Note 10).

As of December 31, 2020 and 2021, there was no impairment of the value of the Group’s intangible assets.

Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

7. LEASES

As of December 31, 2021, the Company has operating leases recorded on its balance sheet for certain office spaces and facilities that expire on various dates through 2028. The Group does not plan to cancel the existing lease agreements for its existing facilities prior to their respective expiration dates. When determining the lease term, the Group includes options to extend or terminate the lease when it is reasonably certain that it will exercise that option, if any. All of the Group’s leases qualify as operating leases.

Information related to operating leases as of December 31, 2020 and 2021 is as follows (in thousands, except for percentages and years).


	As of December 31,
	2020			2021
	RMB			RMB			US$ (Note 2.5)
Assets
Operating lease right-of-use assets		14,997			112,781			17,698
Liabilities
Operating lease liabilities, current		8,058			30,669			4,813
Operating lease liabilities, non-current		5,542			81,786			12,834
Weighted average remaining lease term (years)		1.7			3.6			3.6
Weighted average discount rate		5	%		5	%		5	%

Information related to operating lease activity during the years ended December 31, 2020 and 2021 is as follows:


	For the Year Ended
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2.5)
Operating lease rental expense
Amortization of right-of-use assets		5,260		8,158		16,997		2,667
Expense for short-term leases within 12 months		592		—		16		3
Interest of lease liabilities		543		679		2,585		406

		6,395		8,837		19,598		3,076

Maturities of lease liabilities were as follows:


	As of December 31,
	2021
	RMB			US$ (Note 2.5)
2022		35,359			5,549
2023		38,120			5,982
2024		33,305			5,226
2025		5,399			847
2026		5,501			863
Thereafter		4,949			776

Total undiscounted lease payments		122,633			19,243
Less: imputed interest		(10,178	)		(1,596	)

Total lease liabilities		112,455			17,647

Share-Based Compensation - Additional Information (Detail) $ / shares in Units, ¥ in Thousands, $ in Thousands						1 Months Ended		12 Months Ended
	Jan. 31, 2020 shares	Jan. 17, 2020 CNY (¥) shares	Oct. 31, 2019	Feb. 22, 2019 CNY (¥) shares	Feb. 22, 2019 USD ($) $ / shares shares	Oct. 31, 2017 shares	Oct. 31, 2016 $ / shares shares	Dec. 31, 2021 CNY (¥) shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 CNY (¥) shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 CNY (¥) shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2017 $ / shares shares	May 28, 2021 shares	Jul. 15, 2020 shares	Feb. 10, 2020 $ / shares	Dec. 31, 2018 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								¥ 621,876	$ 97,586	¥ 526,171		¥ 515,203
Estimated fair value of Company's ordinary shares \| $ / shares							$ 0.77										$ 14.00
Share based payment award, stock options granted								133,913	133,913
Common shares, par value \| $ / shares									$ 0.0001		$ 0.0001			$ 0.0001				$ 0.0001
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized										91,051	91,051
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								¥ 406,683	$ 63,817	¥ 209,033		514,733
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								201,926	31,687	284,431		470
Equity in Loss of an Affiliate [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								¥ 13,267	$ 2,082	32,707
One Performance Condition [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting percentage								75.00%	75.00%
Director[Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, repurchased during the period, average price \| $ / shares					$ 5.63
Stock options, repurchased during the period, total consideration				¥ 148,308	$ 21,902
Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								¥ 0	$ 0	¥ 0		1,566
Share based payment award, maximum shares authorized																7,686,081
Restricted share units were vested but not issued as ordinary shares										558,220	558,220
Restricted Shares [Member] \| General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								0	0	¥ 0		1,096
Restricted Shares [Member] \| Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								¥ 0	$ 0	¥ 0		470
Restricted Shares [Member] \| Tranche One [Member] \| Third One Third Portion [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting percentage								25.00%	25.00%
Restricted Shares [Member] \| Tranche Two [Member] \| Third One Third Portion [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting percentage								25.00%	25.00%
Restricted Shares [Member] \| Tranche Three [Member] \| Third One Third Portion [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting percentage								25.00%	25.00%
Restricted Shares [Member] \| Tranche Four [Member] \| Third One Third Portion [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting percentage								25.00%	25.00%
Restricted Shares [Member] \| One Performance Condition [Member] \| Third One Third Portion [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting percentage										20.00%	20.00%
Restricted Shares [Member] \| Two Performance Conditions [Member] \| Third One Third Portion [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting percentage										40.00%	40.00%
Restricted Shares [Member] \| Three Performance Conditions [Member] \| Third One Third Portion [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting percentage										60.00%	60.00%
Restricted Shares [Member] \| Four Performance Conditions [Member] \| Third One Third Portion [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting percentage										80.00%	80.00%
Restricted Shares [Member] \| Founders [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares cancelled							87,441
Number of shares outstanding							3,932,113
Ordinary shares held, restriction percentage							70.00%
Share based payment award, vesting period			3 years
Restricted Shares [Member] \| Founders [Member] \| Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting percentage							20.00%
Restricted Shares [Member] \| Founders [Member] \| Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting percentage							20.00%
Restricted Shares [Member] \| Founders [Member] \| Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting percentage							30.00%
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, stock options surrendered, exercise price \| $ / shares														$ 1.0
Employee Stock Option [Member] \| Director[Member] \| General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense												148,308	$ 21,902
Employee Stock Option [Member] \| Lei Fang [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, stock options surrendered														130,000
2019 Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense \| $											$ 1,171
Share based payment award, maximum shares authorized											100,000
Share based payment award, stock options granted										72,000	72,000
Stock options exercisable									24,000		0
Stock Option, Exercise Price, Increase \| $ / shares											$ 6.09
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation arrangement, shares vested										565,200	565,200
Share Price Based Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting period								90 days	90 days
Share Price Based Awards [Member] \| Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting percentage								75.00%	75.00%
Share Price Based Awards [Member] \| Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting percentage								100.00%	100.00%
2017 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								¥ 3,126	$ 491	¥ 126,293		¥ 0
Number of shares granted		9,609,084
Share based payment award, maximum shares authorized		9,609,084				13,376,865
Share based payment award, stock options surrendered, exercise price \| $ / shares									$ 1.00		$ 1.00		$ 1.00
Share based payment award, stock options granted												640,000	640,000
Share based payment award, stock options granted exercise price \| $ / shares													$ 1.00
Stock options, repurchased during the period												3,435,215	3,435,215
Stock options, repurchased during the period, average price \| $ / shares													$ 1.00
Stock options exercisable									2,569,017		6,790,924
Number of shares unvested	332,566	332,566						10,500	10,500	338,876	338,876	397,500	397,500
2017 Plan [Member] \| General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								¥ 2,835	$ 445	¥ 52,802		¥ 0
2017 Plan [Member] \| Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								(225)	(35)	69,214		0
2017 Plan [Member] \| Equity in Loss of an Affiliate [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								¥ 516	$ 81	4,277		¥ 0
2017 Plan [Member] \| Senior Management Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares unvested		83,142
2017 Plan [Member] \| Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting period						3 years
Share based payment award, stock options granted												640,000	640,000
Share based payment award, stock options granted exercise price \| $ / shares													$ 1
Number of shares unvested								10,500	10,500
Share based compensation arrangement, shares vested								900,642	900,642
2017 Plan [Member] \| Employee Stock Option [Member] \| Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting percentage						50.00%
2017 Plan [Member] \| Employee Stock Option [Member] \| Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting percentage						50.00%
2018 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		¥ 91,051						¥ 4,790	$ 752	113,937		¥ 365,329
Number of shares granted		11,005,888
Share based payment award, maximum shares authorized				14,005,745	14,005,745							15,452,620	15,452,620
Share based payment award, stock options granted												13,991,528	13,991,528
Share based payment award, stock options granted exercise price \| $ / shares													$ 1.00
Stock options, repurchased during the period								454,940	454,940			454,940	454,940
Stock options, repurchased during the period, average price \| $ / shares													$ 1.00
Stock options exercisable									7,553,236
2018 Plan [Member] \| General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								¥ 4,478	$ 703	48,055		¥ 365,329
2018 Plan [Member] \| Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								55	9	65,656		0
2018 Plan [Member] \| Equity in Loss of an Affiliate [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								¥ 257	$ 40	¥ 226		0
2018 Plan [Member] \| Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting percentage				50.00%	50.00%
2018 Plan [Member] \| Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting percentage				50.00%	50.00%
2018 Plan [Member] \| Dr. Zang [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, stock options granted exercise price \| $ / shares					$ 1.0
2018 Plan [Member] \| Director[Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Options, Vested And Exercisable Number				10,893,028	10,893,028
2018 Plan [Member] \| Senior Management Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares unvested		2,544,917
2018 Plan [Member] \| Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares outstanding											762,920
Share based payment award, stock options granted exercise price \| $ / shares											$ 1.00
2018 Plan [Member] \| Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation arrangement, shares vested								825,000	825,000
Amended 2017 Plan [Member] \| Director[Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, repurchased during the period				3,435,215	3,435,215
Share Options, Vested And Exercisable Number				3,435,215	3,435,215
2020 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting percentage								25.00%	25.00%
Share based payment award, maximum shares authorized																10,760,513
Share based payment award, stock options granted								133,913	133,913	1,068,733	1,068,733
Stock options exercisable											0
Number of shares unvested								111,495	111,495
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized								1,446,875	1,446,875
Share based compensation arrangement, shares vested								261,353	261,353
2020 Plan [Member] \| Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								¥ 58,887	$ 9,241	¥ 112,251		0
2020 Plan [Member] \| Restricted Shares [Member] \| Third One Third Portion [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of days for calculating the weighted average market value of shares								30 days	30 days
Share based comensation equity instruments other than options aggregate fair value vested in period \| $									$ 2,000,000
2020 Plan [Member] \| Restricted Shares [Member] \| Second One Third Portion [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of days for calculating the weighted average market value of shares								30 days	30 days
Maximum Percentage Reduction In The Weighted Average Market Value Of Shares								20.00%	20.00%
2020 Plan [Member] \| Restricted Shares [Member] \| General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								¥ 54,011	$ 8,476	25,985		0
2020 Plan [Member] \| Restricted Shares [Member] \| Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								4,156	652	67,181		0
2020 Plan [Member] \| Restricted Shares [Member] \| Equity in Loss of an Affiliate [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								720	113	¥ 19,085		0
2020 Plan [Member] \| Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting period				2 years	2 years
Restricted share units were vested but not issued as ordinary shares										1,328,120	1,328,120
2020 Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								26,879	4,218	¥ 16,411		0
2020 Share Incentive Plan [Member] \| General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								8,702	1,366	4,357		0
2020 Share Incentive Plan [Member] \| Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								14,915	2,340	10,435		0
2020 Share Incentive Plan [Member] \| Equity in Loss of an Affiliate [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								3,262	512	1,619		0
2020 Share Incentive Plan [Member] \| Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								¥ 354,272	$ 55,592	¥ 156,108		0
Restricted share units were vested but not issued as ordinary shares								1,649,045	1,649,045	4,093,079	4,093,079
2020 Share Incentive Plan [Member] \| Restricted Shares [Member] \| General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								¥ 227,392	$ 35,681	¥ 76,663		0
2020 Share Incentive Plan [Member] \| Restricted Shares [Member] \| Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								118,368	18,575	71,945		0
2020 Share Incentive Plan [Member] \| Restricted Shares [Member] \| Equity in Loss of an Affiliate [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense								¥ 8,512	$ 1,336	¥ 7,500		¥ 0
Twenty Twenty One Employee Stock Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, vesting percentage								25.00%	25.00%
Share based payment award, maximum shares authorized															12,023,618
Share based payment award, stock options granted								2,698,245	2,698,245
Twenty Twenty One Employee Stock Option Plan [Member] \| Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, maximum shares authorized															6,011,809
Twenty Twenty One Employee Stock Option Plan [Member] \| Restricted Shares [Member] \| Second One Third Portion [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum Percentage Reduction In The Weighted Average Market Value Of Shares								20.00%	20.00%

Share-Based Compensation - Schedule of Stock Option Activities (Detail) $ / shares in Units, ¥ in Thousands, $ in Thousands			12 Months Ended
	Jan. 31, 2020 shares	Jan. 17, 2020 shares	Dec. 31, 2021 CNY (¥) shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2018 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares
Numbers of shares
Granted			133,913	133,913
2017 Plan [Member]
Numbers of shares
Number of shares Outstanding			7,702,066	7,702,066	9,812,881	13,005,596
Granted						640,000
Forfeited	(332,566)	(332,566)	(10,500)	(10,500)	(338,876)	(397,500)
Repurchased						(3,435,215)
Exercised			(5,122,549)	(5,122,549)	(1,439,373)
Surrendered					(332,566)
Number of shares Outstanding			2,569,017	2,569,017	7,702,066	9,812,881	13,005,596
Exercisable as of December 31, 2020			2,569,017		6,790,924			2,569,017
Weighted average exercise price
Outstanding \| $ / shares				$ 0.97	$ 0.93	$ 0.95
Granted \| $ / shares						1.00
Forfeited \| $ / shares				1.00	1.00	1.00
Repurchased \| $ / shares						1.00
Exercised \| $ / shares				0.96	$ 0.72
Surrendered					1.00
Outstanding \| $ / shares				$ 1.00	$ 0.97	$ 0.93	$ 0.95
Exercisable as of December 31, 2020 \| $ / shares								$ 1.00
Weighted average remaining contractual term, Outstanding			5 years 9 months 14 days	5 years 9 months 14 days	6 years 9 months	7 years 9 months 3 days	8 years 7 months 9 days
Weighted average remaining contractual term, Exercisable			5 years 9 months 14 days	5 years 9 months 14 days
Aggregate intrinsic value, Outstanding \| $				$ 50,361	$ 150,415	$ 47,671	$ 70,129
Aggregate intrinsic value, Exercisable \| $								$ 50,361
2018 Plan [Member]
Numbers of shares
Number of shares Outstanding			10,589,671	10,589,671	13,536,588
Granted						13,991,528
Repurchased			(454,940)	(454,940)		(454,940)
Exercised					(3,036,435)	(402,000)
Surrendered					2,544,917
Number of shares Outstanding			7,553,236	7,553,236	10,589,671	13,536,588
Exercisable as of December 31, 2020			7,553,236					7,553,236
Weighted average exercise price
Outstanding \| $ / shares				$ 1.00	$ 1.00
Granted \| $ / shares						$ 1.00
Repurchased \| $ / shares						1.00
Exercised \| $ / shares					$ 1.00
Surrendered					1.00
Outstanding \| $ / shares				$ 1.00	$ 1.00	$ 1.00
Exercisable as of December 31, 2020 \| $ / shares								$ 1.00
Weighted average remaining contractual term, Outstanding			7 days 3 hours	7 days 3 hours	8 years 1 month 24 days	8 years 10 months 9 days
Weighted average remaining contractual term, Exercisable			7 years 1 month 24 days	7 years 1 month 24 days
Aggregate intrinsic value, Outstanding			¥ 148,076		$ 206,499	$ 64,840
Aggregate intrinsic value, Exercisable \| $								$ 148,076
2019 Plan [Member]
Numbers of shares
Number of shares Outstanding			72,000	72,000
Granted					72,000
Number of shares Outstanding			48,000	48,000	72,000
Exercisable as of December 31, 2020			24,000					24,000
Weighted average exercise price
Outstanding \| $ / shares				$ 6.09
Granted \| $ / shares					$ 6.09
Outstanding \| $ / shares				$ 6.09	$ 6.09
Exercisable as of December 31, 2020 \| $ / shares								$ 6.09
Weighted average remaining contractual term, Outstanding			8 days 1 hour	8 days 1 hour	9 years 3 months 29 days
Weighted average remaining contractual term, Exercisable			8 days 1 hour	8 days 1 hour
Aggregate intrinsic value, Outstanding			¥ 1,045		$ 1,038
Aggregate intrinsic value, Exercisable \| ¥			¥ 348
2020 Plan [Member]
Numbers of shares
Number of shares Outstanding			1,044,368	1,044,368
Granted			133,913	133,913	1,068,733
Forfeited			(111,495)	(111,495)
Number of shares Outstanding			805,433	805,433	1,044,368
Exercisable as of December 31, 2020					0
2021 Plan [Member]
Numbers of shares
Granted			2,698,245	2,698,245
Forfeited			(253,805)	(253,805)
Number of shares Outstanding			2,444,440	2,444,440
Weighted average exercise price
Granted \| $ / shares				$ 26.43
Forfeited \| $ / shares				26.39
Outstanding \| $ / shares				$ 26.44
Weighted average remaining contractual term, Outstanding			9 years 6 months 25 days	9 years 6 months 25 days
2020 Plan [Member]
Numbers of shares
Number of shares Outstanding			1,044,368	1,044,368
Forfeited			(111,495)	(111,495)	(24,365)
Exercised			(68,859)	(68,859)
Number of shares Outstanding			997,773	997,773	1,044,368
Exercisable as of December 31, 2020			192,340					192,340
Weighted average exercise price
Outstanding \| $ / shares				$ 5.91
Granted \| $ / shares				18.85	$ 5.91
Forfeited \| $ / shares				6.23	5.91
Exercised \| $ / shares				5.91
Expired \| $ / shares				5.91
Outstanding \| $ / shares				$ 7.61	$ 5.91
Exercisable as of December 31, 2020 \| $ / shares								$ 5.91
Weighted average remaining contractual term, Outstanding			8 days 16 hours	8 days 16 hours	9 years 7 months 13 days
Weighted average remaining contractual term, Exercisable			8 days 12 hours	8 days 12 hours
Aggregate intrinsic value, Outstanding			¥ 12,967		$ 15,237
Aggregate intrinsic value, Exercisable \| ¥			¥ 2,826
Expired			(154)	(154)
2021 Plan [Member]
Numbers of shares
Granted			2,698,245	2,698,245

Principal Activities and Organization

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Principal Activities and Organization

1. PRINCIPAL ACTIVITIES AND ORGANIZATION

I-Mab

(the “Company”) was incorporated in the Cayman Islands on June 30, 2016 as an exempted company with limited liability under the Companies Act of the Cayman Islands. The Company and its subsidiaries (together the “Group”) are principally engaged in discovering and developing transformational biologics in the fields of immuno-oncology and immuno-inflammation diseases in the People’s Republic of China (the “PRC”) and other countries and regions.

On January 17, 2020, the Company consummated its IPO on the Nasdaq Global Market, where 7,407,400 American Depositary Shares (“ADSs”) were issued at the price of US$14.00 per ADS for total gross proceeds of US$103.7 million. On February 10, 2020, the underwriters of the IPO have exercised their over-allotment option to purchase an additional 768,350 ADSs of the Company at the IPO price of US$14.00 per ADS. After giving effect to the exercise of the over-allotment option, the Company has issued and sold a total of 8,175,750 ADSs in the IPO, for total gross proceeds of US$114.5 million. Each ten ADSs represents twenty-three ordinary shares of the Company.

As of

December 31, 2021, the Company’s principal subsidiaries are as follows:

Subsidiaries

Place of
incorporation

Date of
incorporation or
acquisition

Percentage
of direct
or indirect
ownership
by the
Company

Principal activities

I-Mab

Biopharma Hong Kong Limited

(“I-Mab

Hong Kong”)

Hong Kong

July 8, 2016

100

Investment holding

I-Mab

Shanghai

PRC

August 24, 2016

100

Research and
development of
innovative medicines

I-Mab

Bio-tech

(Tianjin) Co., Ltd.

(“I-Mab

Tianjin”)

PRC

July 15, 2017

100

Research and
development of
innovative medicines

I-Mab

Biopharma US Ltd.

U.S.

February 28, 2018

100

Research and
development of
innovative medicines

Zhejiang Tianli Pharmaceutical Sales Co., Ltd.

PRC

September 29, 2021

100

Sales and
distribution of
medicine products

Warrants

12 Months Ended

Dec. 31, 2021

Warrants Disclosure [Abstract]

Warrants

16. WARRANTS

(a) Warrants to purchase preferred shares

In connection with the issuance of the Series B Preferred Shares on September 22, 2017, 5,633,780 Series B Warrants were issued to Series B preferred shareholders, which provided the holders the right to purchase Series

B-2

Preferred Shares.

In connection with the Company’s Series B Onshore Financing that took place on September 25, 2017, 2,620,842 Series B Warrants were issued to Series B Onshore Investors, which provided the holders the right to purchase Series

B-2

Preferred Shares.

During the period from June 29, 2018 to July 6, 2018, 3,301,849 Series B Warrants (representing Tranche I of Series B Warrants) were exercised to purchase 3,301,849 Series

B-2

Preferred Shares with proceeds of US$20,000 (equivalent to approximately RMB132,332).

On July 6, 2018, the Series B Warrants holders agreed that the Series B Warrants shall be divided into two tranches and exercisable in accordance with different time schedules, such that: (i) the holders have exercised part of the Series B Warrants in the total consideration of US$20,000 (“Tranche I of Series B Warrants”) and 3,301,849 Series

B-2

Preferred Shares of the Company in aggregate have been newly issued to such holders on a pro rata basis; (ii) only when the Company fails to submit a Qualified Public Offering application at an internationally recognized securities exchange by March 31, 2019, the Warrant Holders may exercise the remaining part of Series B Warrants, in the total consideration of US$30,000 (“Tranche II of Series B Warrants”) and 4,952,773 Series

B-2

Preferred Shares of the Company in aggregate will be issued to such holders on a pro rata basis; (iii) provided that the Company successfully submits a Qualified Public Offering application at an internationally recognized securities exchange by March 31, 2019, the holders shall unconditionally and irrevocably waive and cancel Tranche II of Series B Warrants; and (iv) the Tranche II of Series B Warrants may only be concurrently exercised by all the Warrant Holders in one lump. This is considered to be a modification to Series B Warrants.

According to the confirmations issued by the Company’s Series B Warrants holders in July 2019, the holders of Series B Warrants has unconditionally and irrevocably waived and cancelled the Tranche II of Series B Warrants. The fair value gain of warrants for the years ended December 31, 2019 and 2020 was amounting to RMB5,644 and nil, respectively.

Accounting of warrants for purchase preferred shares

The warrant is a freestanding instrument and is recorded as liability in accordance with ASC 480,

Distinguishing Liabilities from Equity

As the Company’s issuance of warrants were bundled with other instruments (such as convertible preferred shares, convertible promissory notes, etc.), out of total considerations, the warrants are initially recognized at fair value and the remaining were allocated to other instruments on a relative fair value basis (if applicable). The fair value changes of the warrants (including the fair value changes arising from modification of warrants) up to the time of exercise or termination were recognized in earnings. Upon exercise, the total carrying value of the associated warrant liabilities was reclassified into the carrying value of the Preferred Shares into which it was converted.

The Company determined the fair value of the warrants with the assistance of an independent third-party valuation firm.

(b) Warrants to purchase ordinary shares

As mentioned in Note 13, on September 3, 2020, the Group entered into definitive subscription agreements with the Investors to raise approximately US$418 million through a private placement, which comprises the Investor Warrants to subscribe for an aggregate of 5,341,267 ordinary shares (equivalent to 2,322,290 ADSs) at an exercise price equivalent to US$45 per ADS.

(b) Warrants to purchase ordinary shares (Continued)

The Subscription Agreement with the Hillhouse entities contemplates two closings. In the first closing occurred on September 11, 2020 and second closing occurred on December 17, 2020, the Investor Warrants were issued with fixed exercise prices of US$45.00 per ADS (equivalent to US$19.57 per share). The Investor Warrants will remain exercisable at the election of the Investors within 12

months after the closing of the private placement. The number of common share purchasable upon exercise of the Investor Warrants shall be proportionally adjusted to reflect any share dividend, share split, combination of shares or reverse share split, or other similar event affecting the number of outstanding common shares. All of the warrants were exercised by the Investors during the year ended December 31, 2021.

Accounting for warrants to purchase ordinary shares

The Investor Warrants are regarded as indexed to the Company’s own stock and were classified as equity and initially measured at fair value and subsequent changes in fair value are not recognized as long as the Investor Warrants continue to be classified as equity. The estimated fair value of the Investor Warrants was shown below, which were used to determine the allocation of the total proceeds for the sale of ordinary shares between the Investor Warrants and ordinary shares.


	Terms		Exercise Price per share US$		Outstanding Units		Fair value at the closing date RMB’000
Warrants to purchase ordinary shares (first closing on September 11, 2020)		12 months		19.57		3,744,032		71,874
Warrants to purchase ordinary shares (second closing on December 17, 2020)		12 months		19.57		1,597,235		37,869

The Group determined the fair value of the warrants with the assistance of an independent third-party valuation firm. The Group used the binomial model to estimate the fair value of the warrant on September 11, 2020 and December 17, 2020 when the Investor Warrants were issued using the following assumptions:


	As of September 11,			As of December 17,
	2020			2020
Risk-free rate of return		0.12	%		0.08	%
Maturity date		September 11, 2021			December 17, 2021
Estimated volatility rate		60.72	%		59.56	%
Exercise price		US$19.57			US$19.57

The model requires the input of assumptions including the risk-free rate of return, maturity date and estimated volatility rate. The risk-free rate for periods within the contractual life is based on the US treasury strip bond with maturity similar to the maturity of the warrants as of valuation dates plus a China country risk premium. For expected volatilities, the Group has made reference to the historical daily stock prices volatilities of ordinary shares of several comparable companies in the same industry as the Group.

Principal Activities and Organization - Schedule of Principal Subsidiaries (Detail)	12 Months Ended
	Dec. 31, 2021
I-Mab Biopharma Hong Kong Limited [Member]
Place of incorporation	Hong Kong
Percentage of direct or indirect ownership by the company	100.00%
Principal activities	Investment holding
I-Mab Shanghai [Member]
Place of incorporation	PRC
Percentage of direct or indirect ownership by the company	100.00%
Principal activities	Research and development of innovative medicines
I-MabTianjin [Member]
Place of incorporation	PRC
Percentage of direct or indirect ownership by the company	100.00%
Principal activities	Research and development of innovative medicines
I-MabBiopharma US Ltd. [Member]
Place of incorporation	U.S.
Percentage of direct or indirect ownership by the company	100.00%
Principal activities	Research and development of innovative medicines
Zhejiang Tianli Pharmaceutical Sales Co., Ltd. [Member]
Place of incorporation	PRC
Percentage of direct or indirect ownership by the company	100.00%
Principal activities	Sales anddistribution ofmedicine products

Property, Equipment And Software - Additional Information (Detail) - CNY (¥) ¥ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation, Depletion and Amortization	¥ 13.8	¥ 12.7	¥ 9.8

Inventories - Additional Information (Detail) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥)
Group recognized revenue	¥ 47,911

Income Taxes

12 Months Ended

Dec. 31, 2021

Disclosure Text Block [Abstract]

Income Taxes

12. INCOME TAXES

Cayman Islands

I-Mab is

incorporated in the Cayman Islands. Under the current laws of the Cayman

Islands, I-Mab is

not subject to tax on income or capital gain. Additionally, the Cayman Islands does not impose a withholding tax on payments of dividends to shareholders.

I-Mab

did business registration in Hong Kong and has a Hong Kong tax file number.

Hong Kong

I-Mab Biopharma

Hong Kong Limited is incorporated in Hong Kong. Companies registered in Hong Kong are subject to Hong Kong profits tax on the taxable income as reported in their respective statutory financial statements adjusted in accordance with the relevant Hong Kong tax laws. The applicable tax rate in Hong Kong is 16.5%. For the years ended December 31, 2019, 2020 and

2021, I-Mab Biopharma

Hong Kong Limited did not make any provisions for Hong Kong profit tax as there were no assessable profits derived from or earnings in Hong Kong for any of the periods presented. Under the Hong Kong tax

law, I-Mab Biopharma

Hong Kong Limited is exempted from income tax on its foreign-derived income and there are no withholding taxes in Hong Kong on remittance of dividends.

United States

I-Mab Biopharma

US Ltd. is incorporated in U.S. and is subject to U.S. federal corporate income tax at a rate of

21%. I-Mab Biopharma

US Ltd. is also subject to state income tax in Maryland of

8.25%. I-Mab Biopharma

US Ltd. has no taxable income for all periods presented, therefore, no provision for income taxes is required.

China

On March 16, 2007, the National People’s Congress of PRC enacted a new Enterprise Income Tax Law (“new EIT law”), under which Foreign Investment Enterprises (“FIEs”) and domestic companies would be subject to corporate income tax at a uniform rate of 25%. The new EIT law became effective on January 1, 2008. Under the new EIT law, preferential tax treatments will continue to be granted to entities which conduct businesses in certain encouraged sectors and to entities otherwise classified as “High and New Technology Enterprises”.

I-Mab Shanghai has been qualified as “High and New Technology Enterprise” and enjoys a preferential income tax rate of 15% from 2021 to 2023.

The Company’s other PRC subsidiaries are subject to the statutory income tax rate of 25%.

No provision for corporate income taxes for corresponding tax residents has been made because the Group are in cumulative loss positions for all the periods presented. During the year ended December 31, 2020, the Group accrued withholding taxes with the amount of RMB12,231 in relation to research and development service and other supporting service charges made by

its non-PRC

tax resident subsidiaries to its PRC tax resident subsidiaries. As the actual withholding taxes paid to local tax bureau was RMB9,077, the Group reversed the tax expenses of RMB3,154 in the year ended December 31, 2021.

Reconciliations of the differences between the PRC statutory income tax rate and the Group’s effective income tax rate for the years ended December 31, 2019, 2020 and 2021 are as follows:


	Year Ended December 31,
	2019			2020			2021
	RMB			RMB			RMB			US$
										(Note 2.5)
Income (loss) before income tax		(1,451,950	)		483,146			(2,334,695	)		(366,365	)
Income tax computed at respective applicable tax rate		(148,871	)		66,044			(410,899	)		(64,479	)
Non-deductible expenses		87,021			72,256			68,400			10,733
Research and development expenses plus deduction		(9,254	)		(60,776	)		(50,530	)		(7,929	)
True up of withholding tax expenses		—			—			(3,154	)		(495	)
Changes in valuation allowance		71,104			(65,293	)		393,029			61,675

		—			12,231			(3,154	)		(495	)

Effect of tax holidays entitled by the PRC subsidiaries on basic income (loss) per share		9.55			0.34			(0.84	)		(0.13	)

The principal components of the deferred tax assets and liabilities are as follows:


	As of December 31,
	2020			2021
	RMB			RMB			US$
							(Note 2.5)
Deferred tax assets:
Net operating loss carryforward		107,344			380,695			59,739
Depreciation and amortization of property, equipment, software and intangible asset, net		30,417			41,020			6,437
Share-based compensation expenses		—			59,296			9,305
Accrual expense		10,568			30,172			4,735
Less: valuation allowance		(100,204	)		(493,233	)		(77,399	)

Total deferred tax assets		48,125			17,950			2,817

Deferred tax liabilities:
Acquired intangible assets		18,067			17,950			2,817
Contract assets		30,058			—			—

Total deferred tax liabilities		48,125			17,950			2,817

Deferred tax assets, net		—			—			—

Movement of the valuation allowance is as follows:


	Year Ended December 31
	2019			2020			2021
	RMB			RMB			RMB			US$
										(Note 2.5)
Balance as of January 1		(94,511	)		(165,497	)		(100,204	)		(15,724	)
Additions		(71,104	)		(36,061	)		(393,029	)		(61,675	)
Utilization and reversal of valuation allowances		—			89,154			—			—
Decrease due to the change of tax rate		118			12,200			—			—

Balance as of December 31		(165,497	)		(100,204	)		(493,233	)		(77,399	)

As of December 31, 2021, the Group had a majority of net operating losses of approximately RMB1,891,099 which arose from the subsidiaries established in the PRC. The tax losses carried forward various in the PRC will expire during the period beginning from 2022 to 2031 based on entity’s preferential tax status.

A valuation allowance is provided to reduce the amount of deferred tax assets if it is considered as more likely than not that some portion or all of the deferred tax assets will not be realized in the foreseeable future. In making such determination, the Group evaluates a variety of positive and negative factors including the Group’s operating history, accumulated deficit, the existence of taxable temporary differences and reversal periods.

The Group has incurred net accumulated operating losses for income tax purposes since its inception. The Group believes that it is more likely than not that these net accumulated operating losses together with other deferred tax assets will not be utilized in the foreseeable future. Therefore, the Group has provided full valuation allowances for the deferred tax assets as of December 31, 2020 and 2021.

The Group evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of December 31, 2020 and 2021, the Group did not have any significant unrecognized uncertain tax positions.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Income Taxes - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Applicable tax rate	21.00%
Applicable state tax rate	8.25%
Withholding Tax	¥ (3,154)	¥ 12,231
Payment of withholding taxes to tax authorities	¥ 9,077
I MOB other subsidiaries [Member]
Applicable tax rate	25.00%
HONG KONG
Applicable tax rate	16.50%	16.50%	16.50%
PRC [Member]
Operating loss	¥ 1,891,099
CN [Member]
Applicable tax rate	25.00%
Preferential income tax rate	15.00%

Principal Accounting Policies - Additional Information (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2021 USD ($)	Jan. 01, 2019 CNY (¥)
Deferred subsidy income	¥ 0	¥ 7,509
Operating lease right-of-use assets	112,781	14,997		$ 17,698	¥ 13,100
Operating lease, liability	112,455			$ 17,647	¥ 11,333
Impairment loss, contract assets with customer	¥ 0	¥ 0	¥ 0
Minimum [Member]
VAT surcharges percent	6.00%
Maximum [Member]
VAT surcharges percent	12.00%
Peoples Bank of China [Member]
Translation exchange rates	6.3757	6.5249		6.3757
Federal Reserve Bank of New York [Member]
Translation exchange rates	6.3726			6.3726

Prepayments And Other Receivables - Summary of Prepayments And Other Receivables (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)
Prepaid Expense, Current [Abstract]
Prepayments to CRO vendors	¥ 79,568	$ 12,486	¥ 83,140
Prepayments for other services	906	142	2,550
Prepayments to an affiliate (Note 23)	8,079	1,268
Receivables due from an affiliate (Note 23)			21,212
Value-added tax recoverable	89,578	14,057	63,664
Rental deposits	616	97	1,766
Interest receivables			236
Others	12,077	1,894	22,899
Total	¥ 190,824	$ 29,944	¥ 195,467

Investments Accounted for Using the Equity Method and Put Right Liabilities - Summary of Group Long term Investment Measured Under Equity method (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)
Operating Data [Abstract]
Investments in affiliates	¥ 352,106	$ 55,253	¥ 664,832
Balance Sheet Data [Abstract]
Current assets	4,781,718	750,356	5,343,664
Current liabilities	624,004	$ 97,920	576,125
Imab Hangzhou [Member]
Operating Data [Abstract]
Investments in affiliates	346,247		664,832
Long Term Investment under Equity Method [Member] \| Imab Hangzhou [Member]
Balance Sheet Data [Abstract]
Current assets	602,047		923,010
Non-current assets	1,207,132		810,623
Current liabilities	168,763		31,519
Non-current liabilities	176,436		10,933
Non-controlling interests	0		0
Long Term Investment under Equity Method [Member] \| Other Equity Investment [Member]
Balance Sheet Data [Abstract]
Current assets	20,037
Non-current assets	40,000
Current liabilities	50
Non-current liabilities	0
Non-controlling interests	0
Revenue [Member] \| Long Term Investment under Equity Method [Member] \| Imab Hangzhou [Member]
Operating Data [Abstract]
Investments in affiliates	5,660		271
Revenue [Member] \| Long Term Investment under Equity Method [Member] \| Other Equity Investment [Member]
Operating Data [Abstract]
Investments in affiliates	0
Loss from Operation [Member] \| Long Term Investment under Equity Method [Member] \| Imab Hangzhou [Member]
Operating Data [Abstract]
Investments in affiliates	(295,186)		(85,945)
Loss from Operation [Member] \| Long Term Investment under Equity Method [Member] \| Other Equity Investment [Member]
Operating Data [Abstract]
Investments in affiliates	(3,513)
Net Income Loss [Member] \| Long Term Investment under Equity Method [Member] \| Imab Hangzhou [Member]
Operating Data [Abstract]
Investments in affiliates	(290,586)		¥ (85,945)
Net Income Loss [Member] \| Long Term Investment under Equity Method [Member] \| Other Equity Investment [Member]
Operating Data [Abstract]
Investments in affiliates	¥ (3,513)

Principal Activities and Organization (Tables)

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Principal Subsidiaries

As of

December 31, 2021, the Company’s principal subsidiaries are as follows:

Subsidiaries

Place of
incorporation

Date of
incorporation or
acquisition

Percentage
of direct
or indirect
ownership
by the
Company

Principal activities

I-Mab

Biopharma Hong Kong Limited

(“I-Mab

Hong Kong”)

Hong Kong

July 8, 2016

100

Investment holding

I-Mab

Shanghai

PRC

August 24, 2016

100

Research and
development of
innovative medicines

I-Mab

Bio-tech

(Tianjin) Co., Ltd.

(“I-Mab

Tianjin”)

PRC

July 15, 2017

100

Research and
development of
innovative medicines

I-Mab

Biopharma US Ltd.

U.S.

February 28, 2018

100

Research and
development of
innovative medicines

Zhejiang Tianli Pharmaceutical Sales Co., Ltd.

PRC

September 29, 2021

100

Sales and
distribution of
medicine products

Related Party Balances and Transactions - Summary of Related Party Balances (Parenthetical) (Detail) - I-Mab Hangzhou [Member] ¥ in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)	Jul. 31, 2020 CNY (¥)	Jul. 31, 2019 CNY (¥)
Debt instrument, face amount \| ¥		¥ 50,000	¥ 2,000
Milestone Payments	$ 3
Ferring Agreement [Member]
Milestone Payments	$ 3

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	22. COMMITMENTS AND CONTINGENCIES Contingencies The Group is a party to or an assignee of license and collaboration agreements that may require it to make future payments relating to milestone fees and royalties on future sales of licensed products (see Note 18). In April 2020, Tracon issued a notice of dispute with respect to the TJD5 Agreement and the BsAbs Agreement. The disputes relating to the TJD5 Agreement and the BsAbs Agreement are the subject of a binding arbitration proceeding under the Rules of Arbitration of the International Chamber of Commerce before an arbitration tribunal. The arbitration tribunal held a hearing on the merits in February 2022. As of the date of this report, the disputes have not been resolved and the Group is not able to predict the likely outcome. The Group expects that the decision from the arbitration tribunal may be available in late 2022 (see Note 18). As of December 31, 2020 and 2021, the Group did not record any liabilities for these disputes. Information available prior to issuance of the financial statements did not indicate that it is probable that a liability had been incurred at the date of the financial statements and the Company is also unable to reasonably estimate the range of any liability or possible loss, if any. The Group did not have significant long-term obligations, or guarantees as of December 31, 2020 and 2021. Capital commitments The capital expenditures related to property, equipment and software contracted for as of December 31, 2021 but not recognized in the Group’s consolidated financial statements were RMB24,426. The Group did not have significant capital commitments as of December 31, 2020.

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible assets

Intangible assets as of December 31, 2020 and 2021 are summarized as follows:


	As of December 31, 2020
	Gross carrying amount		Accumulated amortization			Net carrying amount
	RMB		RMB			RMB
Intangible assets
TJ103		11,670		(1,556	)		10,114
IPR&D TJ101		110,330		—			110,330

Total intangible assets		122,000		(1,556	)		120,444


	As of December 31, 2021
	Gross carrying amount		Accumulated amortization			Net carrying amount
	RMB		RMB			RMB
Intangible assets
TJ103		11,670		(2,334	)		9,336
IPR&D TJ101		110,330		—			110,330

Total intangible assets		122,000		(2,334	)		119,666

Subsequent Events - Additional information (Detail)	Feb. 22, 2022
Subsequent Event [Member] \| Common Class B [Member] \| Vivere [Member]
Subsequent Event [Line Items]
Percentage Of Common Shares Owned	30.00%

Subsequent Events

12 Months Ended

Dec. 31, 2021

Subsequent Events [Abstract]

Subsequent Events

25. SUBSEQUENT EVENTS

On February 22, 2022, the Group announced that Vivere Lifesciences Acquisition Corp. (“Vivere”), a special purpose acquisition company (the “SPAC”), of which the Group owns 30% of the Class B shares (the “Promoter Shares”), has filed a listing application with the Hong Kong Stock Exchange (the “Proposed Listing”). The Group intends to utilize Vivere as a platform to enhance its global innovation ecosystem and forge strong partnerships with potential targets through the

de-SPAC

process. The SPAC is a capital-efficient tool to support the Group to build strategic alliances with worldwide innovators with the goal to develop transformational medicines for patients. As of the report date, no cash has been injected into Vivere by the Company.

Prepayments And Other Receivables (Tables)

12 Months Ended

Dec. 31, 2021

Prepaid Expense and Other Assets, Current [Abstract]

Summary of Prepayments And Other Receivables


	As of December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
Prepayments:
- Prepayments to CRO vendors		83,140		79,568		12,486
- Prepayments for other services		2,550		906		142
- Prepayments to an affiliate (Note 23)		—		8,079		1,268
Receivables due from an affiliate (Note 23)		21,212		—		—
Value-added tax recoverable		63,664		89,578		14,057
Rental deposits		1,766		616		97
Interest receivables		236		—		—
Others		22,899		12,077		1,894

		195,467		190,824		29,944

Restricted Net Assets - Additional information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restricted Net Assets Disclosure [Line Items]
Statutory reserve, annual appropriation percentage from after tax profit	10.00%
Statutory reserve, threshold limit for annual appropriation	50.00%
Appropriation to statutory reserve	$ 0	$ 0	$ 0
Prc Subsidiaries [Member]
Restricted Net Assets Disclosure [Line Items]
Net assets	$ 0
Percentage of net asset to consolidated net assets	25.00%

Accounts Receivable And Contract Assets

12 Months Ended

Dec. 31, 2021

Accounts Receivable And Contract Assets [Abstract]

Accounts Receivable And Contract Assets

3. ACCOUNTS RECEIVABLE AND CONTRACT ASSETS

Accounts receivable and contract assets, net of allowance for credit losses, consisted of the following:


	As of December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
Accounts receivable, gross		130,498		33,081		5,191
Allowance for credit losses		—		—		—

Accounts receivable, net		130,498		33,081		5,191


	As of December 31,
	2020		2021
	RMB		RMB		US$ (Note 2.5)
Contract assets, gross		227,391		253,780		39,824
Allowance for credit losses		—		—		—

Contract assets, net		227,391		253,780		39,824

No allowance for credit losses was recorded as of December

2020

and

2021

Ordinary Shares - Additional Information (Detail)					12 Months Ended
Ordinary Shares - Additional Information (Detail)	Feb. 10, 2020 CNY (¥) shares	Feb. 10, 2020 USD ($) $ / shares shares	Jan. 31, 2020 USD ($) shares	Jan. 17, 2020 $ / shares shares	Dec. 31, 2021 CNY (¥) shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 $ / shares shares	Jul. 15, 2020 CNY (¥)	Jul. 15, 2020 USD ($)	Dec. 31, 2019 shares	Oct. 29, 2019 USD ($) $ / shares shares	Dec. 31, 2018 $ / shares shares	Dec. 31, 2017 $ / shares	Oct. 31, 2016 $ / shares
Ordinary shares, shares authorized						800,000,000		800,000,000			500,000,000		500,000,000
Voting rights					Each ordinary share is entitled to one vote	Each ordinary share is entitled to one vote
Ordinary shares, par value \| $ / shares						$ 0.0001		$ 0.0001					$ 0.0001	$ 0.0001
Number of share issued, ADS	8,175,750	8,175,750
Proceeds from initial public offering		$ 114,500,000			¥ 0	$ 0	¥ 726,300,000
Share Price \| $ / shares		$ 14.00													$ 0.77
Proceeds from initial public offering, net	¥ 697,788,000	$ 101,300,000
American depository shares, common share equivalent	23	23
Issuance of Private Placement \| ¥							¥ 2,789,699,000
Issuance of ordinary shares for restricted share units					5,376,140	5,376,140
Employee Stock Option Plan [Member]
Shares Held in Employee Stock Option Plan						10,069,216
Investor Warrants [Member]
Number of share issued, ADS					5,341,267	5,341,267
Share Price \| $ / shares						$ 45
Proceeds from Issuance of Warrants \| $						$ 104,500,000
Collaboration Agreement with Everest [Member] \| Everests [Member]
Shares Issued Upon Conversion				6,078,571
Hillhouse Entities [Member]
Proceeds from Issuance of Warrants \| $						$ 45.00
Hillhouse Entities [Member] \| First Closing Period [Member]
Shares, Issued						20,421,378
Number of warrants issued						3,744,032
Gross proceeds of shares and warrants \| $						$ 293,000,000.0
Hillhouse Entities [Member] \| Second Closing Period [Member]
Issuance of Private Placement					¥ 2,653,669,000,000	$ 397,200,000
Shares, Issued						8,712,124
Number of warrants issued						1,597,235
Gross proceeds of shares and warrants \| $						$ 125,000,000.0
Collaboration agreement with investors [Member]
Issuance of Private Placement \| $						$ 418,000,000
IPO [Member]
Number of share issued, ADS			7,407,400
Number of share issued, price per share \| $ / shares				$ 14.00
Proceeds from initial public offering \| $			$ 103,700,000
Private Placement [Member]
Number of share issued, ADS					29,133,502	29,133,502
Share Price \| $ / shares						$ 33
Issuance of Private Placement \| $						$ 418,000,000
Over-Allotment Option [Member]
Common Stock Shares Issuable		768,350
Investor [Member]
Ordinary shares, shares authorized												800,000,000
Ordinary shares, par value \| $ / shares												$ 0.0001
Common stock value authorized \| $												$ 80,000,000
Board Of Directors [Member]
Amount of stock repurchase \| $										$ 20,000,000
Prepaid Expensestock repurchase program									¥ 34,051	$ 5,000
Series A Convertible Preferred Stock [Member]
Preferred stock, shares outstanding				30,227,056				0			30,227,056		30,227,056
Number of preferred shares converted to common shares				30,227,056
Convertible Preferred Stock Series B [Member]
Preferred stock, shares outstanding				23,288,783
Number of preferred shares converted to common shares				23,288,783
Convertible Preferred Stock Series B-1 Upon Conversion [Member]
Preferred stock, shares outstanding				3,714,580
Number of preferred shares converted to common shares				3,714,580
Convertible Preferred Stock Series B2 [Member]
Temporary Shares Outstanding				3,301,849
Number of preferred shares converted to common shares				3,571,427
Series C Preferred Stock [Member]
Temporary Shares Outstanding				31,046,360
Number of preferred shares converted to common shares				34,420,469
Series C-1 Convertible Preferred Stock [Member]
Temporary Shares Outstanding				3,857,143
Number of preferred shares converted to common shares				4,537,814

Share-Based Compensation - Schedule of Share-Based Compensation Expenses (Detail) ¥ in Thousands, $ in Thousands		12 Months Ended
	Jan. 17, 2020 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		¥ 621,876	$ 97,586	¥ 526,171	¥ 515,203
2017 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		3,126	491	126,293	0
2018 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses	¥ 91,051	4,790	752	113,937	365,329
2019 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		707	111	1,171	0
2020 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		26,879	4,218	16,411	0
2021 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		55,656	8,734
Restricted Shares [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		0	0	0	1,566
Restricted Shares [Member] \| 2020 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		58,887	9,241	112,251	0
Restricted Shares [Member] \| 2020 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		354,272	55,592	156,108	0
Restricted Shares [Member] \| 2021 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		117,559	18,447
Research and Development Expense [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		201,926	31,687	284,431	470
Research and Development Expense [Member] \| 2017 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		(225)	(35)	69,214	0
Research and Development Expense [Member] \| 2018 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		55	9	65,656	0
Research and Development Expense [Member] \| 2019 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		0	0	0	0
Research and Development Expense [Member] \| 2020 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		14,915	2,340	10,435	0
Research and Development Expense [Member] \| 2021 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		20,430	3,206
Research and Development Expense [Member] \| Restricted Shares [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		0	0	0	470
Research and Development Expense [Member] \| Restricted Shares [Member] \| 2020 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		4,156	652	67,181	0
Research and Development Expense [Member] \| Restricted Shares [Member] \| 2020 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		118,368	18,575	71,945	0
Research and Development Expense [Member] \| Restricted Shares [Member] \| 2021 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		44,227	6,940
General and Administrative Expense [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		406,683	63,817	209,033	514,733
General and Administrative Expense [Member] \| 2017 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		2,835	445	52,802	0
General and Administrative Expense [Member] \| 2018 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		4,478	703	48,055	365,329
General and Administrative Expense [Member] \| 2019 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		707	111	1,171	0
General and Administrative Expense [Member] \| 2020 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		8,702	1,366	4,357	0
General and Administrative Expense [Member] \| 2021 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		35,226	5,528
General and Administrative Expense [Member] \| Restricted Shares [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		0	0	0	1,096
General and Administrative Expense [Member] \| Restricted Shares [Member] \| 2020 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		54,011	8,476	25,985	0
General and Administrative Expense [Member] \| Restricted Shares [Member] \| 2020 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		227,392	35,681	76,663	0
General and Administrative Expense [Member] \| Restricted Shares [Member] \| 2021 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		73,332	11,507
Equity in Loss of an Affiliate [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		13,267	2,082	32,707
Equity in Loss of an Affiliate [Member] \| 2017 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		516	81	4,277	0
Equity in Loss of an Affiliate [Member] \| 2018 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		257	40	226	0
Equity in Loss of an Affiliate [Member] \| 2019 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		0	0	0	0
Equity in Loss of an Affiliate [Member] \| 2020 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		3,262	512	1,619	0
Equity in Loss of an Affiliate [Member] \| Restricted Shares [Member] \| 2020 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		720	113	19,085	0
Equity in Loss of an Affiliate [Member] \| Restricted Shares [Member] \| 2020 Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expenses		¥ 8,512	$ 1,336	¥ 7,500	¥ 0