Immunomedics, Inc. (NASDAQ:IMMU) Files An 8-K

Immunomedics, Inc. (NASDAQ:IMMU) announced today that it has closed on a previously disclosed underwritten offering of 10,000,000 shares of common stock and warrants to purchase up to 10,000,000 shares of common stock, with gross proceeds of $30 million.  Each share of common stock and its accompanying warrant was priced at $3.00. The warrants are exercisable six months following the date of issuance, will expire on the second anniversary of the date of issuance and have an exercise price of $3.75.

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Immunomedics intends to use the proceeds from the offering primarily in continuing support of clinical and regulatory activities for IMMU-132, including submission of an NDA to FDA for accelerated approval in metastatic triple-negative breast cancer, and for working capital and general corporate purposes.

Wells Fargo Securities, LLC acted as sole book-running manager.

The shares of common stock and accompanying warrants described above were offered by Immunomedics pursuant to a shelf registration statement previously filed with and declared effective by the U.S. Securities and Exchange Commission. A prospectus supplement and accompanying base prospectus related to the offering has been filed with the SEC and is available on its web site at  Copies of the prospectus supplement and accompanying prospectus may be obtained from Wells Fargo Securities, LLC, Equity Syndicate Department, 375 Park Avenue, New York, NY, 10152, or by email at [email protected], or by telephone at (800) 326-5897.

About Immunomedics

Immunomedics is a clinical-stage biopharmaceutical company developing monoclonal antibody-based products for the targeted treatment of cancer, autoimmune disorders and other serious diseases. Immunomedics’ advanced proprietary technologies allow the Company to create humanized antibodies that can be used either alone in unlabeled or “naked” form, or conjugated with radioactive isotopes, chemotherapeutics, cytokines or toxins. Using these technologies, Immunomedics has built a pipeline of eight clinical-stage product candidates. Immunomedics’ portfolio of investigational products includes antibody-drug conjugates (ADCs) that are designed to deliver a specific payload of a chemotherapeutic directly to the tumor while reducing overall toxic effects that are usually found with conventional administration of these chemotherapeutic

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