Immunomedics, Inc. (IMMU): Analyst Phil Nadeau Provides Update From San Antonio Breast Cancer Symposium

Immu-132 continues to have strong efficacy in centrally-reviewed data at SABCS, says Cowen's Phil Nadeau.


The San Antonio Breast Cancer Symposium (SABCS) is one of the largest breast cancer meetings in the world, with approximately half of attendees coming from more than 90 countries outside the U.S. More than 7,000 oncologists, cancer researchers and patient advocates attend annually.

Today, straight from the SABCS, Cowen’s healthcare analyst Phil Nadeau is providing a review of Immunomedics, Inc.’s (NASDAQ:IMMU) updated data from IMMU-132 Phase 2 in patients with relapsed and refractory metastatic triple negative breast cancer (r/r mTNBC).

Nadeau observed, “With the centrally adjudicated data released, investors now have access to the results that will be included in IMMU’s Q1:18 FDA filing. We continue to think that IMMU-132’s results are striking, and represent an advance over the current standard of care in r/r mTNBC, which should support an accelerated approval based on the Phase II […] Our consultants have been impressed by IMMU-132’s data, and think it represents an improvement in treatment. They have noted that the 30%+ response rate and nearly 6-month progression-free survival are on the upper end of anything seen in clinical trials before, particularly in the relapsed refractory setting. Therefore they find the efficacy data impressive, particularly given that it was produced in a heavily pretreated relapsed/refractory mTNBC population.”

“With an acceptable safety profile, IMMU-132 has a positive benefit-risk, in the opinion of our physician consultants. Therefore, with a desperate need for new treatment options, our consultants think that the filing for accelerated approval off of the Phase II data is warranted,” the analyst added.

As such, Nadeau reiterates an Outperform rating on shares of Immunomedics with a price target of $15, which implies an upside of 45% from current levels. (To watch Nadeau’s track record, click here)

As of this writing, all the 3 analysts polled by TipRanks in the past 12 months rate Immunomedics stock a Buy. With a return potential of 35%, the stock’s consensus target price stands at $14.