Immunomedics gets $250M in royalty deal for TNBC candidate

Immunomedics Inc. (NASDAQ:IMMU) said Monday it will sell royalty rights to triple-negative breast cancer candidate sacituzumab govitecan (IMMU-132) to Royalty Pharma (New York, N.Y.) for $175 million in cash.

Royalty Pharma also invested $75 million in Immunomedics through the purchase of 4.4 million shares at $17.15 in a private placement. The price is an 11% premium to Immunomedics' close of $15.50 on Friday, before the deal was announced...