Going it alone with lead ADC, Immunomedics sees quadrupling of share price

9 July 2018

When Seattle Genetics (Nasdaq: SGEN) announced it had bought exclusive global rights to an an exciting new antibody-drug conjugate (ADC), sacituzumab govitecan (IMMU-132), shares in the candidate’s developer shot up by a third.

But despite being worth up to $2 billion to Immunomedics (Nasdaq: IMMU), not all investors were happy with the deal. Activist shareholder VenBio soon launched legal action to block an offer that it dismissed as “stunningly low.”

VenBio argued that promising data for the candidate had attracted dozens of suitors, and that Immunomedics ought to retain the rights to the drug for itself.

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