Please ensure Javascript is enabled for purposes of website accessibility

Immunomedics Halts Phase 3 Trial of Breast Cancer Drug Because of Compelling Efficacy

By Taylor Carmichael – Apr 6, 2020 at 10:20AM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Sacituzumab govitecan has proven effective against triple-negative breast cancer.

On Monday, Immunomedics (IMMU) announced it was halting its successful phase 3 study of sacituzumab govitecan as a treatment for triple-negative breast cancer, on the advice of its Data Safety Monitoring Committee (DSMC).

"Triple-negative breast cancer (TNBC) is a disease with extremely limited treatment options beyond classic chemotherapy," said the chairperson of the committee, Julie Gralow, a professor at the University of Washington School of Medicine. "The remarkable results we observed across multiple endpoints in the ASCENT study warranted early discontinuation of the trial and are indicative of a potential major advance in the treatment of this devastating disease." 

woman undergoes a mammogram

Image source: Getty Images

Sacituzumab govitecan, Immunomedics' lead treatment candidate, has been highly sought after for several years now. Seattle Genetics tried to acquire the rights to the drug in 2017. In fact, a deal was made, which caused such consternation at venBio Select Advisor -- a major investor in Immunomedics -- that the hedge fund launched a proxy fight for control of the company. It won, venBio managing partner Behzad Aghazadeh became the chairman of Immunomedics' board, and the company retained the rights to the molecule.

Aghazadeh is now the executive chairman of Immunomedics. "Today's announcement marks a significant milestone toward fulfilling our promise to patients globally with TNBC of providing a new treatment option that can meaningfully improve their lives," he said Monday. "We are grateful to all the patients, their families and healthcare providers who participated in the ASCENT study. On behalf of all of my colleagues at Immunomedics, we remain committed to working tirelessly to bring this potentially transformative drug to all mTNBC patients in need."     

As of 11:15 a.m. Monday, the stock was up 99%.

Taylor Carmichael owns shares of Immunomedics. The Motley Fool owns shares of and recommends Seattle Genetics. The Motley Fool recommends Immunomedics. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Immunomedics Stock Quote
Seagen Inc. Stock Quote
Seagen Inc.
$136.28 (-0.43%) $0.59

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 10/07/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.