On 4 Nov 2019, Immunomedics, Inc stock identified change of 49.78% away from 52-week low price and recently located move of -18.51% off 52-week high price. It has market worth of $3283.71M and dividend yield of # ref. IMMU stock has been recorded 10.81% away from 50 day moving average and 13.18% away from 200 day moving average. Moving closer, we can see that shares have been trading 4.42% off 20-day moving average.
Immunomedics, Inc. (IMMU) recently stated financial results for the third quarter of 2019. Please refer to the Company’s Quarterly Report on Form 10-Q for more details on the Company’s financial results.
Third Quarter and Nine Months 2019 Financial Results
The Company had no revenues for the quarter and nine months ended September 30, 2019, due primarily to the discontinued sale of LeukoScan® in February 2018 in order for the Company to focus on its ADC business. Revenues in the comparable nine months ended September 30, 2018 was $0.9M.
Total costs and expenses were $86.8M for the quarter and $233.6M for the nine months ended September 30, 2019, contrast to $57.2M for the comparable quarter and $148.1M for the nine months ended September 30, 2018. The increases were due primarily to increased expenses in research and development and sales and marketing, partially offset by decreases in general and administrative expenses. The increases in research and development costs were mostly attributable to activities related to preparations for the authorization and commercial launch of sacituzumab govitecan for patients with at least two previous lines of treatment for mTNBC in the United States and expanded clinical development of sacituzumab govitecan into other indications.
The Company had no non-cash warrant-related income or expense for the quarter and nine months ended September 30, 2019, contrast a $1.2M of non-cash gain for the comparable quarter and a $47.8M warrant-related expense for the nine months ended September 30, 2018,Because of changes in the fair value of then outstanding warrants. There were no warrants outstanding as of September 30, 2019 and December 31, 2018.
Interest expense was $9.7M for the quarter and $30.3M for the nine months ended September 30, 2019, contrast to $10.1M for the comparable quarter and $30.5M for the nine months ended September 30, 2018. The decreases were due primarily to changes in the fair value of our debt balances as a result of the contract with RPI Finance Trust.
Net loss attributable to stockholders was $94.3M, or $0.49 per share, for the quarter ended September 30, 2019, contrast to $64.2M, or $0.34 per share, for the comparable quarter ended September 30, 2018. Net loss attributable to stockholders was $257.6M, or $1.34 per share, for the nine months ended September 30, 2019, contrast to $216.7M, or $1.24 per share, for the nine months ended September 30, 2018.
As of September 30, 2019, the Company had $369.2M in cash, cash equivalents, and marketable securities. The Company believes this amount is adequate to support its clinical development plan for sacituzumab govitecan, further build its clinical and manufacturing infrastructure and fund its operations through 2020.
The Healthcare sector company, Immunomedics, Inc. noticed change of -0.23% to $17.3 along volume of 1320519 shares in recent session compared to an average volume of 2202.58K. The stock observed return of 0.93% in 5 days trading activity. The stock was at 13.07% over one-month performance. IMMU’s shares are at 15.80% for the quarter and driving a -8.08% return over the course of the past year and is now at 21.23% since this point in 2018. The average volatility for the week at 3.17% and for month was at 4.15%. There are 189.81M shares outstanding and 176.97M shares are floated in market. Right now the stock beta is 2.12.
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