Immunomedics
This article was originally published in The Gray Sheet
Executive Summary
Completes $12.5 mil. private placement of 4% convertible preferred stock. The funds strengthen the imaging and therapeutic product maker's financial position as it continues to boost marketing efforts for CEA-Scan (arcitumomab) in the U.S. and Europe, and for LeukoScan (sulesomab) in Europe. Plans for U.S. marketing of LeukoScan, pending FDA approval, are also under way. Subject to certain conditions, the firm has an option for up to an additional $7.5 mil. convertible preferred stock offering