There’s no shortage of market-moving news these days about up-and-coming cancer drug maker I-Mab (IMAB.US), whose stock is getting pulled every which way as a result.

One thing that’s clear is that I-Mab (IMAB.US) aspires to transition from a company that simply develops drugs to one that also sells and profits from them, as it moves closer to approval for its first cancer treatments. But recent instability in the company’s top echelons as it makes that transition is bringing uncertainty. A broader dispute between the U.S. and China over disclosure requirements for U.S.-listed Chinese companies isn’t helping. At the same time, talk of a potential merger or buyout is propping up the stock.

The U.S.-China dispute element was in the headlines this week, when I-Mab’s name was added to a U.S. Securities and Exchange Commission (SEC) list of 88 Chinese firms that could face potential delisting. The group, whose latest additions also include e-commerce giants JD.com (JD.US; 9618.HK) and Pinduoduo (PDD.US), risk being booted off U.S. stock exchanges in three years if they fail to provide regulators with access to their financial audits.