July 31, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Immunomedics, Inc. (NASDAQ:IMMU) shares over potential securities laws violations by Immunomedics, and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Immunomedics, Inc. (NASDAQ:IMMU) concerning whether a series of statements by Immunomedics regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Immunomedics, Inc. reported that its Total Revenue rose from $4.96 million for the 12 months period that ended on June 30, 2013 to $9.04 million for the 12 months period that ended on June 30, 2014 while its respective Net Loss increased from $11.38 million to $35.43 million.

On July 28, 2015, Immunomedics, Inc. (NASDAQ:IMMU) reported that licensing partner, UCB, SA, announced that the two EMBODY Phase 3 clinical trials for epratuzumab in Systemic Lupus Erythematosus (SLE) did not meet the primary clinical efficacy endpoints in either dose in both studies. Shares of Immunomedics, Inc. (NASDAQ:IMMU) declined from $4.32 per share on July 14, 2015, to as low as $1.83 per share on July 28, 2015.