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IMMUNOMEDICS INC

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2020 10-Q, filed Aug 5, 2020. Its latest SEC filing is a SC 13G/A from Feb 16, 2021.

The sections below describe the company as of the FY2019 annual report.

What Did They Do?

Develops antibody-based medicines that target cancer for patients with cancer.

How Did They Make Money?

The company earns an upfront license payment from Everest, with potential further milestone payments and royalties on net sales. Janssen pays service fees for product-detailing work when sales targets are met.

FY2019 revenue

Who Were Their Customers?

The company contracts with Everest for a license and with Janssen for product-detailing services; Janssen's product is promoted to oncologists and other targeted U.S. health care providers.

Did Revenues Turn Into Profits?

No. It lost $357.2M in FY2019.

Operating income, FY2019
−110115% of revenue
▲ +130% (Loss) vs FY2017 (−$141M, −6542%)
Net income, FY2019
−121081% of revenue
▲ +30% (Loss) vs FY2017 (−$273.8M, −12701%)
Free cash flow, FY2019
−77726% of revenue
▲ +60% (Loss) vs FY2017 (−$143.4M, −6651%)

How Were They Changing?

Since the FY2019 annual report
Latest quarter: Q2 FY2020, the three months to Jun 30, 2020
Revenue
vs $0 in Q2 FY2019
Net income
▼ −12% (Loss)
vs −$76M in Q2 FY2019
  • Oct 23, 2020 Gilead completed its acquisition of Immunomedics Eligible shares converted into cash when the merger closed; the company requested delisting of its shares.

Shrank. Revenue fell 95% in 4 years, from $5.7M in FY2014 to $295K in FY2019, about 52% a year.

Narrower disease focus The older report described antibody candidates for cancer, autoimmune disorders and other serious diseases; the latest centers the business on cancer treatments, with sacituzumab govitecan as its lead candidate.

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