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Immunomedics Inc (IMMU.OQ)

IMMU.OQ on NASDAQ Stock Exchange Global Market

28 Apr 2017
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Latest Key Developments (Source: Significant Developments)

Immunomedics says to seek expedited trial regarding venBio's actions
Friday, 3 Mar 2017 10:19am EST 

Immunomedics Inc : Continue to pursue legally justified relief against venBio Select Advisor LLC and venBio's four director candidates in court . Immunomedics intends to proceed with its annual meeting scheduled for Friday . Intends to seek expedited discovery, expedited trial with respect to "questionable actions" actions employed by venBio .Says will promptly seek appropriate relief in a proceeding in Delaware chancery court.  Full Article

Immunomedics outlines revised settlement offer rejected by venBio
Thursday, 2 Mar 2017 10:23am EST 

Immunomedics Inc : Immunomedics outlines revised settlement offer rejected by venBio; announces actions that are in the best interests of all stockholders . Jason Aryeh vice chairman of board has offered to step down immediately . Previously initiated formal search for a new chief executive officer would continue under new board .Proposal consists of immediate appointment of all 4 of venBio's nominees to co's board to join 4 of Immunomedics' director nominees.  Full Article

Immunomedics enters licensing agreement with Seattle Genetics
Friday, 10 Feb 2017 06:50am EST 

Immunomedics Inc - : Immunomedics enters into exclusive global licensing agreement with Seattle Genetics for Sacituzumab Govitecan (IMMU-132) with potential payments of up to approximately $2 billion, plus royalties . For limited period, through Feb 19, 2017, co has right to continue negotiating with select number of parties, and accept superior proposal . Co has right to accept superior proposal, terminate proposed development, license agreement upon payment of termination fee to Seattle Genetics . Immunomedics and Seattle Genetics will each appoint representatives to serve on a joint steering committee . Immunomedics will retain right to elect to co-promote IMMU-132 in United States by participating in 50 pct of sales effort . JSC will be responsible for determining overall development, commercialization, & intellectual property strategy for IMMU-132 . Expects deal to "fulfill" its liquidity needs such that company can fund itself without additional equity raises for foreseeable future . Upon closing of transaction, Immunomedics board and management will evaluate and prioritize company's remaining clinical programs .Seattle genetics to make up to $57 million equity investment for up to 9.9 pct stake in co via immediate purchase of common stock, 3-year warrant.  Full Article

venBio sends letter to Immunomedics stockholders
Wednesday, 18 Jan 2017 03:02pm EST 

venBio Select Advisor LLC: venBio sends letter to Immunomedics stockholders . Beneficial owner of about 10.5 million shares, or 9.9%, of Immunomedics Inc and its largest stockholder . Have proposed slate of four nominees to Immunomedics ' management in specific areas needed to effect change at Immunomedics . "There is no evidence that changes at board level would delay approvals for IMMU-132" .While we discussed Immunomedics informally with Jason Aryeh prior to deciding to take action at co, never offered Aryeh position on slate of nominees.  Full Article

Immunomedics announces reconstituted board and leadership succession plan
Monday, 9 Jan 2017 06:00am EST 

Immunomedics Inc : Immunomedics announces reconstituted board of directors and leadership succession plan . Immunomedics Inc - Announces chairman and CEO succession plans . Immunomedics Inc - Effective June 30, 2017, Jason Aryeh will assume role of chairman of Immunomedics board. . Immunomedics Inc - David M. Goldenberg, current chairman, will transition his role, effective June 30, 2017 .Immunomedics Inc - Board will immediately initiate a search for a new CEO.  Full Article

venBio announces director nominees to Immunomedics' Board
Tuesday, 22 Nov 2016 09:00am EST 

venBio Select Advisor Llc : venBio comments on its recent nomination of four highly-qualified candidates for board of Immunomedics, Inc. . owns approximately 9.5 million shares of Immunomedics Inc .has nominated Scott Canute, Peter Barton Hutt, Khalid Islam, and Behzad Aghazadeh for election to Immunomedics' Board.  Full Article

Venbio Select Advisor LLC reports 9 pct stake in Immunomedics - SEC filing
Wednesday, 16 Nov 2016 03:50pm EST 

Venbio Select Advisor LLC: Venbio Select Advisor LLC reports 9 percent stake in Immunomedics Inc as of Nov. 11 - SEC filing . Previously engaged, may in future additionally engage, in talks with members of Immunomedics management and board . May in future engage in talks with Immunomedics management, board regarding business, strategies including board composition .Filed preliminary proxy with SEC to solicit proxies to elect Aghazadeh, Scott Canute, Peter Hutt, Khalid Islam to Immunomedics board.  Full Article

Immunomedics reports Q4 loss per share $0.17
Wednesday, 17 Aug 2016 04:00pm EDT 

Immunomedics Inc : Immunomedics announces fiscal 2016 results and clinical program developments . Q4 revenue fell 63 percent to $900,000 . Q4 loss per share $0.17 . Total revenues for Q4 ended June 30, 2016, were $0.9 million, compared to $2.4 million for same quarter last year . Says "We plan to spend approximately $42 million to $44 million during fiscal 2017" .Immunomedics inc says believe current funds are sufficient to continue operations and budgeted research and development programs.  Full Article

Immunomedics says appoints Garone as new CFO
Tuesday, 21 Jun 2016 08:00am EDT 

Immunomedics Inc : Immunomedics appoints Michael R. Garone as new chief financial officer . Immunomedics Inc says Garone replaces Peter P. Pfreundschuh . Immunomedics Inc says Peter P. Pfreundschuh will serve as a consultant to company for next few months to ensure a smooth transition .Immunomedics appoints Michael R. Garone as new chief financial officer.  Full Article

Immunomedics, Inc reports continuing positive results with Sacituzumab Govitecan
Thursday, 10 Dec 2015 08:30am EST 

Immunomedics, Inc:Reports continuing positive results with sacituzumab govitecan in heavily pre-treated metastatic triple-negative breast cancer patients.Sacituzumab govitecan has an acceptable interim safety profile in the 60 mtnbc patients reported at the symposium.  Full Article

More From Around the Web

BRIEF-Seattle Genetics says court issued temporary restraining order enjoining taking action in furtherance of closing of license agreement with Immunomedics

* Seattle Genetics- On March 9,court issued temporary restraining order enjoining taking action in furtherance of closing of license agreement with Immunomedics