Immunomedics Announces Proposed Public Offering of Common Stock

Immunomedics Announces Proposed Public Offering of Common Stock

MORRIS PLAINS, N.J., May 1, 2014 (GLOBE NEWSWIRE) -- Immunomedics, Inc.,
(Nasdaq:IMMU) today announced that it is offering to sell, subject to market
and other conditions, shares of its common stock pursuant to an effective
shelf registration statement. In connection with this offering, Immunomedics
intends to grant the underwriters a 30-day option to purchase additional
shares of common stock. All of the shares to be sold in the offering are being
sold by Immunomedics, with the proceeds to fund the Company's Phase III
clinical trial for patients with advanced pancreatic cancer and its ongoing
Phase II expansion trials for IMMU-132 and IMMU-130, as well as for working
capital and general corporate purposes. Wells Fargo Securities, LLC and
Jefferies LLC are acting as joint book-running managers.

A shelf registration statement relating to the shares of common stock
described above has been previously filed with and declared effective by the
U.S. Securities and Exchange Commission. This press release does not
constitute an offer to sell, or the solicitation of an offer to buy, these
securities, nor will there be any sale of these securities in any state or
other jurisdiction in which such offer, solicitation or sale is not permitted.
Any offer, if at all, will be made only by means of a prospectus, including a
preliminary prospectus supplement, forming part of the effective shelf
registration statement.

A preliminary prospectus supplement relating to the offering will be filed
with the SEC and will be available on its web site at www.sec.gov. Copies of
the preliminary prospectus supplement and accompanying prospectus may be
obtained from Wells Fargo Securities, LLC, Equity Syndicate Department, 375
Park Avenue, New York, NY, 10152, or by email at
cmclientsupport@wellsfargo.com, or by telephone at (800) 326-5897; or
Jefferies LLC, Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd
Floor, New York, NY, 10022, or by email at
Prospectus_Department@jefferies.com, or by telephone at (877) 547-6340.

About Immunomedics

Immunomedics is a clinical-stage biopharmaceutical company developing
monoclonal antibody-based products for the targeted treatment of cancer,
autoimmune disorders and other serious diseases. Immunomedics' advanced
proprietary technologies allow the Company to create humanized antibodies that
can be used either alone in unlabeled or "naked" form, or conjugated with
radioactive isotopes, chemotherapeutics, cytokines or toxins. Using these
technologies, Immunomedics has built a pipeline of nine clinical-stage product
candidates. Immunomedics has an ongoing collaboration with UCB, S.A. (UCB),
who has worldwide rights in non-cancer indications to Immunomedics' Phase III
product candidate, epratuzumab. UCB expects Phase III data in systemic lupus
erythematosus (SLE) in the first quarter of 2015. Immunomedics is exploring
epratuzumab in oncology in collaboration with outside cancer study groups.
Immunomedics' most advanced wholly owned candidate is 90Y-clivatuzumab
tetraxetan, which is in an ongoing Phase III registration trial in patients
with pancreatic cancer. Immunomedics' portfolio of wholly owned product
candidates also includes antibody-drug conjugates (ADCs) that are designed to
deliver a specific payload of a chemotherapeutic directly to the tumor while
reducing overall toxicity effects that typically occur when these
chemotherapeutic agents are dosed alone.Immunomedics' most advanced ADCs are
IMMU-132 and IMMU-130, which are in Phase I/II trials for a number of solid
tumors and metastatic colorectal cancer (mCRC), respectively. Immunomedics
also has a number of other product candidates that target solid tumors and
hematologic malignancies, as well as other diseases, in various stages of
clinical and pre-clinical development. These include bispecific antibodies
which have application as T-cell redirecting immunotherapies targeting cancers
and infectious diseases as well as next-generation therapies in cancer and
autoimmune disease. Immunomedics creates these bispecific antibodies using its
patented DOCK-AND-LOCK™ (DNL™) protein conjugation technology.For additional
information on the Company, please visit its website at www.immunomedics.com.
The information on its website does not, however, form a part of this press
release.

This release, in addition to historical information, may contain
forward-looking statements made pursuant to the Private Securities Litigation
Reform Act of 1995. Such statements, including statements regarding clinical
trials (including the funding therefor, outcomes, timing or associated costs),
out-licensing arrangements (including the timing and amount of contingent
payments), forecasts of future operating results, potential collaborations,
and capital raising activities, 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, new product development (including clinical trials outcome and regulatory
requirements/actions), our dependence on UCB for the further development of
epratuzumab for non-cancer indications, risks associated with the outcome of
pending litigation, competitive risks to marketed products and availability of
required financing and other sources of funds on acceptable terms, if at all,
as well as the risks discussed in the Company's filings with the Securities
and Exchange Commission.The Company is not under any obligation, and the
Company expressly disclaims any obligation, to update or alter any
forward-looking statements, whether as a result of new information, future
events or otherwise.

CONTACT: Dr. Chau Cheng
         Senior Director, Investor Relations & Grant Management
         (973) 605-8200, extension 123
         ccheng@immunomedics.com
 
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