|Over a week ago|
Immunomedics' sacituzumab activity remains consistent, says Piper Sandler » 13:5105/2905/29/20
Piper Sandler analyst…
Piper Sandler analyst Joseph Catanzaro reiterated an Overweight rating and $40 price target on Immunomedics after the company presented initial data from two sacituzumab cohorts in bladder and endometrial cancer. The analyst said that "most notable" is the bladder data from Cohort 2 of TROPHY-U-01 in post-CPI platinum-ineligible disease which showed a 29% overall response rate in 21 patients, identical to the 29% ORR observed so far in the post-chemo/CPI Cohort 1. Catanzaro believes that if this response rate is maintained over a bigger cohort it should be supportive of an accelerated sBLA submission in this setting.
Immunomedics CEO change to not impact Trodelvy launch, says H.C. Wainwright » 07:0605/2805/28/20
H.C. Wainwright analyst…
H.C. Wainwright analyst Raghuram Selvaraju does not believe the departure of Immunomedics CEO Harout Semerjian should impact Trodelvy's potential for commercial success. The company's virtual interactions with physicians, coupled with the superior efficacy profile of Trodelvy relative to chemotherapy, should drive "healthy" market penetration near-term, Selvaraju tells investors in a research note. The analyst reiterates a Buy rating on Immunomedics with a $54 price target.
Immunomedics confident in execution despite CEO change, says Piper Sandler » 05:0105/2805/28/20
After speaking to the…
After speaking to the company, Piper Sandler analyst Joseph Catanzaro says Immunomedics remains confident in its near term execution, namely the Trodelvy commercial launch. The COVID environment created a "logistical nightmare" for former CEO Harout Semerjian, who needed to ramp quickly during a period critical to the company's growth and long term success, Catanzaro tells investors in a research note. The analyst keeps an Overweight rating on Immunomedics with a $40 price target.
Fly Intel: After-Hours Movers » 19:0805/2705/27/20
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Check out this evening's…
Immunomedics drops 5% to $32.48 after CEO steps down 16:1305/2705/27/20
Immunomedics says TROPiCS-02 patient enrollment resumed at 20 sites » 16:1205/2705/27/20
Immunomedics announced that patient enrollment into the Phase 3 TROPiCS-02 study of Trodelvy in hormone receptor-positive, human epidermal growth factor receptor 2-negative metastatic breast cancer, has been resumed at approximately 20 clinical sites as of mid-May, with additional sites continuing to open in the coming weeks. The company's commercial organization is responding to the challenges presented by COVID-19, and early feedback remains encouraging, it added. Further, "manufacturing continues to operate at capacity across the global supply chain, with minimal COVID-19 impact," it said. Immunomedics noted that previously communicated updates remain on track, with the ASCENT topline readout expected in mid-2020, and topline data from the first full cohort of 100 metastatic urothelial cancer patients with prior platinum-based and checkpoint inhibitor therapies in the TROPHY U-01 study targeted to be presented at a medical conference in the second half of 2020.
Immunomedics CEO Semerjian steps down for 'logistical obstacles' » 16:1005/2705/27/20
Immunomedics announces that Harout Semerjian has decided to step down from his role as President and Chief Executive Officer. "This decision, which is effective immediately, is precipitated by the unfortunate significant logistical obstacles presented by the COVID-19 pandemic, including Mr. Semerjian's ability to fully assume his duties as CEO. Dr. Behzad Aghazadeh, Executive Chairman of Immunomedics, will continue to support the Company in an executive leadership role going forward," the company said in a statement. Immunomedics is not expecting to initiate a CEO search "until the global COVID-19 situation is stabilized."
|Over a month ago|
Immunomedics well positioned to execute on Trodelvy launch, says Piper Sandler » 19:3105/0605/06/20
Piper Sandler analyst…
Piper Sandler analyst Joseph Catanzaro keeps his Overweight rating and $40 price target on Immunomedics after its pipeline update with Q1 results. The analyst notes that the company's trodelvy launch is now underway and the first commercial patient has been treated, adding that he sees Immunomedics as well-positioned to execute on the launch, as well as the ongoing clinical studies to support future label expansions.
Immunomedics reports Q1 EPS (44c), consensus (45c) » 17:3605/0605/06/20
"We entered 2020…
"We entered 2020 with strong momentum across our operations," stated Behzad Aghazadeh, executive chairman of Immunomedics. "Following a successful biologics license application resubmission in late 2019, we were pleased to receive accelerated approval for Trodelvy in late April and accomplished our goal of bringing this therapy to patients with metastatic triple-negative breast cancer (mTNBC). Trodelvy was launched within days of receiving FDA approval and transformed Immunomedics into a fully-integrated biopharmaceutical company in the process. We also announced the early stoppage of our confirmatory Phase 3 ASCENT study due to compelling evidence of efficacy and look forward to reporting topline study results in mid-2020. These data are expected to establish Trodelvy as a new standard of care in mTNBC and help improve the lives of people with hard-to-treat cancers worldwide. Finally, we significantly strengthened our balance sheet with an over-subscribed follow-on offering that will allow us to build on our momentum during the growth period ahead."
Immunomedics initiated with an Overweight, $40 target at Barclays » 06:2405/0505/05/20
Barclays analyst Peter…
Barclays analyst Peter Lawson initiated coverage of Immunomedics with an Overweight rating and $40 price target. The analyst expanded coverage with six additional SMID cap oncology stocks in the U.S. Small & Mid Cap Biotechnology sector, where he has a Positive view. Lawson expects small and mid cap biotech stocks to continue to outperform the S&P 500 Index and sees upside in Immunomedics shares based on probability adjusted outcomes of upcoming catalysts."