Glancy Binkow & Goldberg LLP announces that a class action lawsuit has filed in the United States District Court for the District of New Jersey on behalf of a class (the “Class”) comprising all purchasers of the common stock of Immunomedics, Inc. (“Immunomedics” or the “Company”) (NASDAQ:IMMU) between May 9, 2013 and October 9, 2013, inclusive (the “Class Period”).

Please contact Glancy Binkow & Goldberg LLP, toll-free at (888) 773-9224 or at (212) 682-5340, or by email to shareholders@glancylaw.com to discuss this matter.

Immunomedics is a biopharmaceutical company focused on the development of monoclonal antibody-based products for targeted treatment of cancer, autoimmune disorders and other serious diseases. The Company's product Veltuzumab is a humanized anti-CD20 antibody for the treatment of all non-cancer indications. In July 2008, Immunomedics entered into a license and collaboration agreement with Nycomed GmbH to develop, manufacture and commercialize Veltuzumab. Nycomed was acquired by Takeda Pharmaceutical Company in September 2011.

The complaint alleges that during the Class Period defendants issued materially misleading statements concerning Veltuzumab and its related development by Takeda-Nycomed but failed to disclose to investors that, prior to and during the Class Period, the Company and Takeda-Nycomed were embroiled in an ongoing dispute concerning a delay in Veltuzumab’s development.

On October 9, 2013, in a Form 8-K filed with the Securities and Exchange Commission, Immunomedics disclosed that the Company’s agreement with Nycomed to develop, manufacture and commercialize Veltuzumab has been terminated. According to the Form 8-K, Immunomedics previously notified Nycomed of its concern about delays in the product's advancement, and on May 14, 2013, notified Nycomed that Nycomed was in material breach of the agreement and that the agreement would terminate if the breaches remained uncured. On October 3, 2013, Takeda notified Immunomedics that it considers the agreement as terminated.

If you are a member of the Class described above, you may move the Court no later than April 28, 2014, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

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