The biopharmaceutical company, with its goal of developing drugs that fight off cancer and other dreaded diseases, recently announced that it was awarded a patent for its product candidate hPAM4 to treat pancreatic cancer. A high demand for Immunomedics' (NASDAQ: IMMU) product drove the company to increase its stock sharply higher, while share prices also went higher.
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About Immunomedics Inc. (NASD: IMMU)
Immunomedics, Inc. was founded in 1982 and has its headquarters in Morris Plains, New Jersey. It is a biopharmaceutical company which develops monoclonal antibody-based products for the treatment of autoimmune, cancer, and other serious diseases. Its lead product candidate is epratuzumab, which is in two pivotal Phase III trials for the treatment of patients with moderate and severe lupus. The company’s other products include IMMU-106, which is in Phase I/II clinical trials in patients with B-cell non-Hodgkin’s lymphoma; and PAM4, a humanized monoclonal antibody for the treatment of pancreatic cancer.
