Immunomedics prices public offering

|By:, SA News Editor

Shares of Immunomedics (IMMU -20.4%) are down big on a 2x surge in volume after the firm announced its secondary offering of 9M shares of common stock at $3.35. Yesterday's close was $4.14.

Underwriters over-allotment is 1.35M shares.

Proceeds will fund its clinical trials.