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Immunomedics Inc (IMMU.OQ)

IMMU.OQ on NASDAQ Stock Exchange Global Market

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26 May 2017
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Latest Key Developments (Source: Significant Developments)

Immunomedics Q3 loss per share $0.55
Wednesday, 10 May 2017 04:00pm EDT 

May 10 (Reuters) - Immunomedics Inc ::Immunomedics announces third quarter fiscal 2017 results and clinical program developments.Q3 loss per share $0.55.Q3 revenue $1.3 million.Immunomedics Inc says total costs and expenses for quarter ended March 31, 2017 were $23.4 million, compared to $15.5 million for same quarter in fiscal 2016.Immunomedics Inc says recognized a $28.3 million non-cash expense during three-month period ended March 31, 2017.  Full Article

Immunomedics announces private placement offering
Friday, 5 May 2017 08:46am EDT 

May 5 (Reuters) - Immunomedics Inc : :Immunomedics delivers business updates, announces private placement offering and outlines strategic steps to drive stockholder value.Immunomedics Inc - cfo michael garone to be named interim ceo once settlement agreement is finalized.Immunomedics Inc - board in process of considering candidates for permanent CEO.Immunomedics - has raised $125 million in gross proceeds in private placement of its series A-1 convertible preferred stock with institutional investors.Immunomedics Inc - now targeting submission of a BLA for Immu-132 for approval in MTNBC between late Q4 2017 and q1 2018.Immunomedics - to proceed with final selection of cro to launch confirmatory phase 3 study, expect first patient enrolled in late Q3 2017 for immu-132.Immunomedics Inc - Cynthia L. Sullivan will be stepping down from all director and officer positions with company.Immunomedics Inc - David M. Goldenberg, founder of company, is stepping down from all officer positions with company.Immunomedics Inc - Goldenberg will continue to serve as a director on Immunomedics' board.Immunomedics Inc - entered into a binding term sheet with Goldenberg, Sullivan, Markison and Venbio.Immunomedics Inc - Immunomedics expects to have sufficient operating funds through Q3 of 2018.Immunomedics Inc - regarding venbio action, individual defendants Goldenberg, Sullivan And Markison will be released from all claims made by Venbio.  Full Article

Seattle Genetics terminates license agreement with Immunomedics
Friday, 5 May 2017 08:00am EDT 

May 5 (Reuters) - Seattle Genetics Inc ::Seattle Genetics terminates license agreement with Immunomedics for sacituzumab govitecan (immu-132).As part of termination, Seattle Genetics will continue to hold 3.0 million shares of Immunomedics common stock.Seattle Genetics-effective upon termination of license, parties agreed to fully settle, resolve, release each other from all disputes, claims, liabilities.  Full Article

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

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BRIEF-Immunomedics Q3 loss per share $0.55

* Immunomedics announces third quarter fiscal 2017 results and clinical program developments