Offices of Howard G. Smith announces that it is investigating
potential claims on behalf of investors of Immunomedics, Inc.
("Immunomedics" or the "Company") (NASDAQ:IMMU) concerning possible
violations of federal securities laws. The investigation focuses on
certain statements issued by the Company concerning Immunomedics'
business and financial prospects.
Immunomedics is a biopharmaceutical company focused on the development
of monoclonal antibody-based products for targeted treatment of cancer,
autoimmune disorders and other serious diseases. The Company's product
Veltuzumab isa humanized anti-CD20 antibody, in the subcutaneous
formulation, for the treatment of all non-cancer indications. The
investigation is related to Immunomedics' disclosure in a Form 8-K filed
with the Securities and Exchange Commission on October 9, 2013, that the
Company's agreement with Nycomed GmbH to develop, manufacture and
commercialize Veltuzumab has been terminated.
According to the Form 8-K, Nycomed was acquired by Takeda Pharmaceutical
Company in September 2011. Immunomedics previously notified Nycomed of
its concern about delays in the product's advancement, and on May 14,
2013, notified Nycomed that Nycomed was in material breach of the
agreement and that the agreement would terminate if the breaches
remained uncured. On October 3, 2013, Takeda notified Immunomedics that
it considers the agreement as terminated.
If you purchased Immunomedics shares, if you have information or would
like to learn more about these claims, or if you have any questions
concerning this announcement or your rights or interests with respect to
these matters, please contact Howard G. Smith, Esquire, of Law Offices
of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania
19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by
email to firstname.lastname@example.org,
or visit our website at www.howardsmithlaw.com.
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