Why Immunomedics Shares Surged 11.3% Today

After its share prices slipped following the announcement of a dilutive stock offering earlier this week, Immunomedics (NASDAQ: IMMU) bounced back on Friday, rallying 11.3%.

The company was dealt a disappointing blow earlier this year when the Food and Drug Administration (FDA) issued a complete response letter (CRL) rejecting its application for approval of sacituzumab govitecan, an anti-TROP-2 antibody drug conjugate addressing heavily pretreated metastatic triple-negative breast cancer (mTNBC).

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Source Fool.com