MORRIS PLAINS, N.J., May 7, 2014 (GLOBE NEWSWIRE) -- Immunomedics, Inc., (Nasdaq:IMMU) today announced that it has closed its recently announced underwritten public offering of nine million shares of its common stock. The gross proceeds from this offering to Immunomedics are expected to be $30.15 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Immunomedics. Immunomedics has granted the underwriters a 30-day option to purchase up to an additional 1.35 million shares of common stock. All of the shares sold in the offering were 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 acted as joint book-running managers. The shares of common stock described above were offered by Immunomedics pursuant to a shelf registration statement previously filed with and declared effective by the U.S. Securities and Exchange Commission (SEC). A prospectus supplement related to the offering was filed with the SEC and is available on its web site at www.sec.gov . Copies of the final 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 firstname.lastname@example.org, 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. 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.