June 3, 2016 – Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) has been investigating Immunomedics, Inc. (“Immunomedics” or the “Company”) (Nasdaq: (IMMU). Investors who purchased Immunomedics securities between May 4, 2016 and June 2, 2016 may be affected.
On May 4, 2016, the Company released its financial results for the quarter ended March 31, 2016 and represented that “[u]pdated Phase 2 results in patients with metastatic triple-negative breast cancer will be presented in a Clinical Science Symposium Session at the 2016 American Society of Clinical Oncology (ASCO) Annual Meeting on Friday, June 3, 2016.”
Then on June 2, 2016, after the market closed, The Street.com published a story titled “Immunomedics Kicked Out of Prestigious ASCO Cancer Conference.” The article stated that the Company was “caught trying to sneak old, previously presented clinical data on its triple-negative breast cancer drug IMMU-132 into the American Society of Clinical Oncology (ASCO) annual meeting, which starts Friday. That's a violation of ASCO's rules. As a result, ASCO informed Immunomedics Thursday that the IMMU-132 breast cancer abstract was removed from the meeting.”
According to The Street, ASCO accepted the company's late-breaking abstract for IMMU-132 into the annual meeting on the premise that it contained updated and previously undisclosed results from a mid-stage study in triple-negative breast cancer. But Immunomedics failed to tell ASCO that the IMMU-132 data were not updated or new at all. Immunomedics Founder and Chief Scientific Officer David Goldenberg had already presented the same IMMU-132 trial results at an industry networking meeting in April, ASCO learned. The company issued a press release when these IMMU-132 data were presented in April, posted the presentation slides on its web site and discussed the data with investors on a conference call.
Reportedly, Immunomedics also never told Dr. Aditya Bardia of Harvard Medical School, the principal investigator of the IMMU-132 breast cancer study and the scheduled ASCO presenter, about the April data reveal. Investors look to the ASCO meeting, held in June each year, for the latest developments and newest clinical data on experimental cancer drugs.
If you purchased Immunomedics securities and would like to discuss our investigation, please contact us by e-mailing
or by calling 800-290-1952.
Attorneys: Laurence D. King, Jeffrey P. Campisi, Pamela A. Mayer