SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 16, 2000
IMMUNOMEDICS, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-12104 61-1009366
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
300 American Road, Morris Plains, New Jersey 07950
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (973) 605-8200
(Former name or former address, if changed since last report)
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Item 5. Other Events
On February 16, 2000, the registrant completed a private placement of
2.325 million shares of its Common Stock for a total purchase price of $37.2
million. The shares were not registered under the Securities Act of 1933 and may
not be offered or sold in the United States absent registration or an applicable
exemption from registration requirements. The registrant is obligated to file a
registration statement with the Securities and Exchange Commission covering the
resale of such shares.
Item 7. Financial Statements and Exhibits
Exhibit 99.1 Press Release dated February 17, 2000
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
IMMUNOMEDICS, INC.
By: /s/ David M. Goldenberg
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David M. Goldenberg,
Chairman of the Board and
Chief Executive Officer
Date: February 23, 2000
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EXHIBIT INDEX
Exhibit 99.1 Press Release dated February 17, 2000
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IMMUNOMEDICS RAISES $37.2 MILLION IN PRIVATE STOCK OFFERING
Morris Plains, NJ, February 17, 2000 --- Immunomedics, Inc. (NASDAQ:IMMU) today
announced that it has completed a private placement of 2.325 million shares of
Common Stock to a group of investors for gross revenues of $ 37.2 million. The
Company intends to file a registration statement in connection with these
shares. The offering was managed by Sutro & Co.
Incorporated. Immunomedics' Chairman and Chief Executive Officer, Dr. David M.
Goldenberg, remarked: "We are pleased to add this working capital to our balance
sheet so that we can accelerate the clinical development of CEA-Cide(TM), our
therapeutic product for several major cancers. We are currently evaluating this
agent in Phase I/II clinical trials in colorectal, pancreatic, lung, breast,
ovarian, and medullary thyroid cancers." "We remain on course to consummate a
licensing partnership for LymphoCide(TM), our therapeutic product for
non-Hodgkin's lymphoma," he commented further. Immunomedics is a
biopharmaceutical company focused on the development, manufacture and
commercialization of diagnostic imaging and therapeutic products for the
detection and treatment of cancer and infectious diseases. Integral to these
products are highly specific monoclonal antibodies and antibody fragments
designed to deliver radioisotopes and chemotherapeutic agents to tumors and
sites of infection. The Company's first product, CEA-Scan(R) for the detection
of colorectal cancer, is being marketed in the United States and Europe
(approved in Canada). The Company's second diagnostic imaging product,
LeukoScan(R), is being marketed in Europe for the diagnosis of osteomyelitis
(bone infection). Immunomedics also has several other diagnostic imaging
products and three therapeutic products in clinical trials. This release, in
addition to historical information, contains forward-looking statements made
pursuant to the Private Securities Litigation Reform Act of 1995. Such
statements involve significant risks and uncertainties and actual results could
differ materially from those expressed or implied herein. Factors that could
cause such differences include, but are not limited to, risks associated with
new product development (including clinical trials outcome and regulatory
requirements/actions), competitive risks to marketed products and availability
of financing and other sources of capital, as well as the risks discussed in the
Company's Quarterly Report on Form 10-Q for the quarter ended December 31, 1999.
Company Contact: Cynthia L. Sullivan, Executive Vice President, (973) 605-8200,
extension 109. Visit our web site at http://www.Immunomedics.com.
