Why Immunomedics Inc. Shares Popped
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Immunomedics , a clinical-stage developer of monoclonal antibodies to help treat cancer and autoimmune disorders, rose as much as 12% after announcing the receipt of a U.S. patent for its antibody-SN-38 conjugates.
So what: Immunomedics' patent covers its linking technology (the aforementioned antibody-drug conjugate) that allows a chemotherapy toxin to be piggybacked on an antibody and delivered directly to a targeted cancer cell where it's released when it comes into contact with that cancer cell. Currently, Immunomedics has two ADC's in development, IMMU-132 and IMMU-130, which are both in mid-stage clinical trials. Data from these trials is expected by the second-quarter. Immunomedics also announced a new patent with "additional claims for the labeling of peptides and protein, including antibodies that utilize F-18.
Now what: It's not too late to score one more win for Immunomedics in 2013! This patent issuance is important as it protects the company's proprietary ADC platform from competitors and could set up Immunomedics for a flurry of partnerships if these upcoming mid-stage trials prove successful. This is certainly an exciting name you'll want to keep an eye on in 2014.
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The article Why Immunomedics Inc. Shares Popped originally appeared on Fool.com.Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong . Try any of our Foolish newsletter services free for 30 days . We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy .
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