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Immunomedics, Inc. (IMMU) Announces Proposed Public Offering Of Common Stock


5/1/2014 4:41:25 PM

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MORRIS PLAINS, N.J., May 1, 2014 (GLOBE NEWSWIRE) -- Immunomedics, Inc., (Nasdaq:IMMU) today announced that it is offering to sell, subject to market and other conditions, shares of its common stock pursuant to an effective shelf registration statement. In connection with this offering, Immunomedics intends to grant the underwriters a 30-day option to purchase additional shares of common stock. All of the shares to be sold in the offering are being sold by Immunomedics, with the proceeds to fund the Company's Phase III clinical trial for patients with advanced pancreatic cancer and its ongoing Phase II expansion trials for IMMU-132 and IMMU-130, as well as for working capital and general corporate purposes. Wells Fargo Securities, LLC and Jefferies LLC are acting as joint book-running managers.

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