Immunomedics, Inc. (NASDAQ:IMMU) [Trend Analysis] knocking active thrust in leading trading session, shares an increase of 21.63% to 5.23 with around 54.32 Million shares have changed hands in this session. Immunomedics Inc. (IMMU) declared that it has entered into an exclusive global licensing contract with Seattle Genetics Inc. (SGEN), an innovative global biotechnology company that develops and commercializes novel antibody-drug conjugates or ADCs for the treatment of cancer. As per the contract, Seattle Genetics will develop, fund, manufacture and commercialize IMMU-132, Immunomedics’ proprietary solid tumor therapy candidate.
The contract also provides that Seattle Genetics will be responsible for initiating the Phase 3 clinical trial of IMMU-132 in patients with metastatic triple-negative breast cancer (TNBC) and submitting the initial Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) for accelerated approval.
The contract includes the development of additional indications for IMMU-132, including urothelial cancer (UC), small-cell lung cancer (SCLC) and non-small-cell lung cancer (NSCLC), which are currently in Phase 2 clinical studies, along with other solid tumor indications being studied in ongoing clinical trials. The stock is going forward its fifty-two week low with 179.68% and lagging behind from its 52-week high price with -3.86%.
Similar, the positive performance for the quarter recorded as 117.92% and for the year was 157.64%, while the YTD performance remained at 42.51%. IMMU has Average True Range for 14 days of 0.35.
Lennar Corporation (NYSE:LEN) [Trend Analysis] retains strong position in active trade, as shares scoring 3.58% to $46.81 in a active trade session, while looking at the shares volume, around 2.93 Million shares have changed hands in this session. Lennar Corporation (NYSE:LEN) reported that completion of its acquisition of WCI Communities, Inc. (WCIC), a premier lifestyle community developer and luxury homebuilder of single and multi-family homes, for approximately $643 million, or $23.50 per share.
The purchase includes a portfolio of well-located, owned and controlled land totaling approximately 13,700 homesites, located in most of the highest growth and largest coastal Florida markets, as well as WCI’s complementary real estate brokerage and title services businesses. Stuart Miller, Chief Executive Officer of Lennar, said, “We are very excited to complete the acquisition of this outstanding company. We’d like to extend a warm welcome to the WCI associates who will be joining the Lennar family.” The firm has institutional ownership of 96.10%, while insider ownership included 0.10%. Investors looking further ahead will note that the Price to next year’s EPS is 5.74%.