Immunomedics raises $276M on heels of BLA submission

Immunomedics Inc. (NASDAQ:IMMU) raised $276 million through the sale of 11.5 million shares at $24 in a follow-on underwritten by Morgan Stanley, Cowen, Jefferies and Wells Fargo Securities. The offering price is just above Immunomedics' close of $23.83 Monday, when it proposed after-market hours to raise $275 million.

The biotech added $0.61 to $24.44 on Tuesday and was off $0.11 to $24.33 Wednesday...