Immunomedics (IMMU) Stock: Gaining On Seattle Genetics (SGEN) Deal

0

Immunomedics, Inc. (NASDAQ: IMMU)

Immunomedics is having an incredibly strong day in the market today. In fact, when the market opened, the stock was already trading well into the green. However, since then, there has been no signs of slowing gains as the stock continues to rocket upward. Below, we’ll talk about what we’re seeing from IMMU, why, and what we’ll be watching for ahead.





What We’re Seeing From IMMU

As mentioned above, Immunomedics is having an incredibly strong day in the market today. The gains started in pre-market after a big announcement from the company. Since the opening bell, the stock has continued on a steady path upward, only expanding gains. At the moment (9:57), IMMU is trading at $5.51 per share after a gain of $1.21 per share or 28.14% thus far today.

Why The Stock Is Climbing

As is usually the case, our partners at Trade Ideas were the first to inform us of the gains on IMMU. As soon as they did, the CNA Finance team started digging to see exactly what was causing the movement. In this particular case, it didn’t take long to uncover the story. The gains seem to be caused by a global licensing agreement that was announced early this morning.




This morning, Immunomedics announced that it has entered into an exclusive global licensing agreement with Seattle Genetics. Under the agreement, SGEN will develop, fund, manufacture, and commercialize IMU-132, Immunomedics’ proprietary solid tumor therapy candidate. For more details on this agreement, click here!

What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will be keeping a close eye on IMMU. In particular, we’re interested in watching as this partnership unfolds and turns into a major benefit to the stock. Nonetheless, we’ll keep a close eye on the news and bring it to you as it breaks!

Never Miss The News Again

Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!

Subscribe Today!

* indicates required










Previous articleSears Holdings (SHLD) Stock: Gaining Big On Cost Cuts
Next articleABB Ltd (ABB) Stock: Tanking On Investigation
Hey, Im Joshua, the founder of CNA Finance. I enjoy following the trends in the market and finding the catalysts that are making the moves. If you want to get in contact with me, leave a comment below or email me at CNAFinanceHelp@gmail.com Please keep in mind that I am not an investment advisor and nor is CNA Finance. This is a news and information gathering outlet. We may work directly with some of the companies that we write about. If we have a business relationship with an issuer, we will mention that in the articles. We also have various affiliate relationships with advertisers and may be paid if you sign up for a service that you were referred to through our website.

LEAVE A REPLY

Please enter your comment!
Please enter your name here