Immunomedics, Inc. announced that Dr. Charles Baum, President and Chief Executive Officer (CEO) of Mirati Therapeutics, Inc. has joined the Immunomedics board of directors. Furthermore, Michael Pehl has stepped down from the role of President, CEO and member of the board, due to personal reasons, and interim chief financial officer, Usama Malik, has been appointed CFO. In addition, the Board has appointed Dr. Behzad Aghazadeh to Executive Chairman, and Scott Canute, current member of the Board, to Executive Director.

Dr. Aghazadeh has been the managing partner and portfolio manager of venBio Select Advisor, LLC, a SEC registered investment manager, since 2011 and the Chairman of the Company's Board since April 2017. Mr. Canute has been the principal of Magis Consulting LLC since July 2012 and a member of the Company's Board since March 2017. Mr. Malik had been serving as the company's interim Chief Financial Officer since August 2018, and the Company's Chief Business Officer since August 2017.

Dr. Baum will also serve on the Company's Audit Committee, Compensation Committee, Governance and Nominating Committee and Executive Committee. Resignation was effective from 23, 2019 and all the appointments were effective immediately.