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Immunomedics Announces Outcome Of 2013 Annual Meeting Of Stockholders

MORRIS PLAINS, N.J., Dec. 4, 2013 (GLOBE NEWSWIRE) -- Immunomedics, Inc. (Nasdaq:IMMU), a biopharmaceutical company primarily focused on the development of monoclonal antibody-based products for the targeted treatment of cancer, autoimmune and other serious diseases, today announced that stockholders of the Company, at its 30 th annual meeting, elected all six nominees to serve as directors of the Company until the next annual meeting; approved the executive compensation by advisory vote; and ratified the selection of KPMG LLP as the Company's independent registered public accounting firm for the current fiscal year. Thereafter, the Board reappointed Dr. David M. Goldenberg as Chairman and Mr. Brian Markison as Lead Independent Director.

In her overview of significant developments for the Company, Cynthia L. Sullivan, President and Chief Executive Officer, remarked, "This past year has been very exciting and productive for a number of reasons. First and foremost is the completion of the Phase Ib trial of yttrium-90-labeled clivatuzumab tetraxetan in patients with advanced pancreatic cancer who had received at least two prior therapies. The study has provided the crucial information on patient enrollment and survival to support our plans to go forward with the pivotal Phase III PANCRIT-1 trial in the same patient population, which is on track to begin by the end of this year or the beginning of 2014. Interestingly, although the Phase Ib trial completed enrollment about 10 months ago, we are still following a small group of patients who have not progressed, and in fact a second patient in the combined treatment arm has just presented evidence of having a partial response, or a 30% reduction of the sum of the diameters of target tumors without the development of new disease. We are gratified that these advanced pancreatic cancer patients who received at least 2 prior treatments tolerated our therapy well, with some having evidence of benefit and improved survival.

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