Immunomedics (IMMU) Tops Q1 EPS by 1c

Immunomedics (NASDAQ: IMMU) reported Q1 EPS of ($0.44), $0.01 better than the analyst estimate of ($0.45).

“We entered 2020 with strong momentum across our operations,” stated Dr. Behzad Aghazadeh, Executive Chairman of Immunomedics. “Following a successful biologics license application resubmission in late 2019, we were pleased to receive accelerated approval for Trodelvy in late April and accomplished our goal of bringing this therapy to patients with metastatic triple-negative breast cancer (mTNBC). Trodelvy was launched within days of receiving FDA approval and transformed Immunomedics into a fully-integrated biopharmaceutical company in the process. We also announced the early stoppage of our confirmatory Phase 3 ASCENT study due to compelling evidence of efficacy and look forward to reporting topline study results in mid-2020. These data are expected to establish Trodelvy as a new standard of care in mTNBC and help improve the lives of people with hard-to-treat cancers worldwide. Finally, we significantly strengthened our balance sheet with an over-subscribed follow-on offering that will allow us to build on our momentum during the growth period ahead.”

For earnings history and earnings-related data on Immunomedics (IMMU) click here.

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