Immunomedics Shares Down 16%; ASCO Won’t Let Company Present ‘Old’ Data on Drug

Immunomedics (IMMU) shares fell 16% in pre-market trade after The Street cited the American Society of Clinical Oncology as saying it has removed the company’s presentation of the breast cancer drug IMMU-132 from the press program.

The report cited program coordinator in ASCO’s science communications department Alise Fisher as saying in an email that since the confidentiality of the abstract had been violated, it wouldn’t be presented.

The company had been allowed in on the basis that the presentation contained new, undisclosed results on the drug, but it had failed to tell ASCO that it had presented the same results at an industry networking meeting in April, at which point Immunomedics also released a press release.

IMMU trades in the upper half of the 52-week range between $1.50 and $5.44.

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