Why Immunomedics Stock Is Sinking Today
Shares of the mid-cap biotech Immunomedics (NASDAQ: IMMU) were down by 12% as of 1:20 p.m EDT today on heavy volume. Why are investors running for the door today?
Immunomedics shares are falling in response to the company's clinical update at the 2019 European Society for Medical Oncology (ESMO) Congress over the weekend. Specifically, the biotech unveiled interim data at the conference from a midstage study evaluating sacituzumab govitecan (SG) in patients with advanced urothelial cancer (bladder cancer) who have relapsed or are refractory to immune checkpoint inhibitors and platinum-based chemotherapy. The drug reportedly achieved a 29% overall response rate (ORR) during this preliminary peek at the data.
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Source Fool.com
