Immunomedics down 21% on rumored delay in sacituzumab govitecan scale up

Immunomedics (IMMU -20.6%) is down on a 5x surge in volume in apparent response to social media rumblings of a delay in upgrading a facility at Samsung Biologics that is earmarked to produce commercial-scale quantities of the humanized antibody used in antibody-drug conjugate sacituzumab govitecan (IMMU-132). Samsung will manufacture it at its site in Incheon, South Korea per a September 2018 agreement.

Linker-drug payload manufacturing and conjugation of the antibody and linker drug, as well as fill/finish activities, will be done elsewhere (10-K, page 18).

IMMU’s U.S. marketing application for triple-negative breast cancer is currently under FDA review with an action date of June 2.

https://seekingalpha.com/news/3557309-immunomedics-down-21-on-rumored-delay-in-sacituzumab-govitecan-scale-up