We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Immunomedics (IMMU) Reports Wider-Than-Expected Loss in Q3
Read MoreHide Full Article
Immunomedics, Inc. incurred a loss of 49 cents per share in the third quarter of 2019, wider than the Zacks Consensus Estimate of a loss of 40 cents. Moreover, the loss deteriorated from the year-ago quarter’s loss of 35 cents.
Notably, the company did not generate any revenues in the third quarter of 2019 due to the discontinued sale of LeukoScan in February 2018 to focus on its antibody-drug conjugate (ADC) business.
Total costs and expenses were $86.8 million in the third quarter compared with $57.2 million a year ago, mainly due to increase in research & development and sales & marketing expenses, partially offset by decreases in general & administrative expenses.
Shares of Immunomedics have increased 10.9% so far this year against the industry’s decline of 0.9%.
Pipeline Update
The company’s most advanced product candidate is sacituzumab govitecan, currently being evaluated in several mid- to late-stage studies for addressing various cancer indications.
Immunomedics plans to submit a biologics license application (BLA) for sacituzumab govitecan to the FDA in late November or early December 2019 for treating late-stage metastatic triple-negative breast cancer (mTNBC) in patients, who have received at least two prior therapies for metastatic disease.
During the quarter, Immunomedics presented interim data from the phase II TROPHY-U-01 study, which evaluated sacituzumab govitecan in patients with metastatic urothelial cancer (mUC,) who had relapsed or are refractory to immune checkpoint inhibitors (CPI) and platinum-based chemotherapy.
The interim results showed that sacituzumab govitecan demonstrated an overall response rate (ORR) of 29% in 35 patients with mUC, who had relapsed or are refractory to immune CPI and platinum-based chemotherapy. The interim results are consistent with the previously reported efficacy of sacituzumab govitecan in mUC. Based on these data, the company will be exploring registrational pathways with the FDA. Moreover, the company reached a target enrollment of 100 patients ahead of its scheduled time.
Furthermore, Immunomedics initiated TROPICS-03, a multi-cohort open-label phase II study, designed to assess the clinical activity of sacituzumab govitecan in patients with metastatic solid tumors including non-small cell lung cancer (NSCLC). The company dosed the first patient for the treatment of NSCLC.
Meanwhile, in September 2019, Immunomedics announced two important deals. The company inked a deal with Roche Holding AG (RHHBY - Free Report) to evaluate the safety and efficacy of the combination of the latter’s PD-L1-blocking checkpoint inhibitor Tecentriq (atezolizumab) and sacituzumab govitecan in frontline treatment of patients with metastatic or inoperable, locally advanced triple-negative breast cancer (TNBC).
The company also signed a collaboration pact with Germany-based GBG Forschungs-GmbH to develop sacituzumab govitecan as a treatment for the newly-diagnosed breast cancer patients, who do not achieve a pathological complete response (pCR) following standard neoadjuvant therapy.
Immunomedics, Inc. Price, Consensus and EPS Surprise
Immunomedics currently has a Zacks Rank #2 (Buy). Other top-ranked stocks from the healthcare sector include Acorda Therapeutics, Inc. and Anika Therapeutics Inc. (ANIK - Free Report) , both sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Acorda’s loss per share estimates have been narrowed 20.4% for 2019 and 43% for 2020 over the past 60 days.
Anika’s earnings estimates have been revised 16% upward for 2019 and 19.1% for 2020 over the past 60 days. The stock has skyrocketed 107.3% year to date.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our just-released Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
Image: Bigstock
Immunomedics (IMMU) Reports Wider-Than-Expected Loss in Q3
Immunomedics, Inc. incurred a loss of 49 cents per share in the third quarter of 2019, wider than the Zacks Consensus Estimate of a loss of 40 cents. Moreover, the loss deteriorated from the year-ago quarter’s loss of 35 cents.
Notably, the company did not generate any revenues in the third quarter of 2019 due to the discontinued sale of LeukoScan in February 2018 to focus on its antibody-drug conjugate (ADC) business.
Total costs and expenses were $86.8 million in the third quarter compared with $57.2 million a year ago, mainly due to increase in research & development and sales & marketing expenses, partially offset by decreases in general & administrative expenses.
Shares of Immunomedics have increased 10.9% so far this year against the industry’s decline of 0.9%.
Pipeline Update
The company’s most advanced product candidate is sacituzumab govitecan, currently being evaluated in several mid- to late-stage studies for addressing various cancer indications.
Immunomedics plans to submit a biologics license application (BLA) for sacituzumab govitecan to the FDA in late November or early December 2019 for treating late-stage metastatic triple-negative breast cancer (mTNBC) in patients, who have received at least two prior therapies for metastatic disease.
During the quarter, Immunomedics presented interim data from the phase II TROPHY-U-01 study, which evaluated sacituzumab govitecan in patients with metastatic urothelial cancer (mUC,) who had relapsed or are refractory to immune checkpoint inhibitors (CPI) and platinum-based chemotherapy.
The interim results showed that sacituzumab govitecan demonstrated an overall response rate (ORR) of 29% in 35 patients with mUC, who had relapsed or are refractory to immune CPI and platinum-based chemotherapy. The interim results are consistent with the previously reported efficacy of sacituzumab govitecan in mUC. Based on these data, the company will be exploring registrational pathways with the FDA. Moreover, the company reached a target enrollment of 100 patients ahead of its scheduled time.
Furthermore, Immunomedics initiated TROPICS-03, a multi-cohort open-label phase II study, designed to assess the clinical activity of sacituzumab govitecan in patients with metastatic solid tumors including non-small cell lung cancer (NSCLC). The company dosed the first patient for the treatment of NSCLC.
Meanwhile, in September 2019, Immunomedics announced two important deals. The company inked a deal with Roche Holding AG (RHHBY - Free Report) to evaluate the safety and efficacy of the combination of the latter’s PD-L1-blocking checkpoint inhibitor Tecentriq (atezolizumab) and sacituzumab govitecan in frontline treatment of patients with metastatic or inoperable, locally advanced triple-negative breast cancer (TNBC).
The company also signed a collaboration pact with Germany-based GBG Forschungs-GmbH to develop sacituzumab govitecan as a treatment for the newly-diagnosed breast cancer patients, who do not achieve a pathological complete response (pCR) following standard neoadjuvant therapy.
Immunomedics, Inc. Price, Consensus and EPS Surprise
Immunomedics, Inc. price-consensus-eps-surprise-chart | Immunomedics, Inc. Quote
Zacks Rank & Other Stocks to Consider
Immunomedics currently has a Zacks Rank #2 (Buy). Other top-ranked stocks from the healthcare sector include Acorda Therapeutics, Inc. and Anika Therapeutics Inc. (ANIK - Free Report) , both sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Acorda’s loss per share estimates have been narrowed 20.4% for 2019 and 43% for 2020 over the past 60 days.
Anika’s earnings estimates have been revised 16% upward for 2019 and 19.1% for 2020 over the past 60 days. The stock has skyrocketed 107.3% year to date.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our just-released Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
Download Free Report Now >>