Volume Spike Investor

Immunomedics Inc. (NASDAQ: IMMU) and UCB have announced this morning that results from UCB’s phase IIb clinical study comparing epratuzumab to placebo in patients with systemic lupus erythematosus which demonstrated clinical meaningful treatment effect…. The 227 patients in this study had moderately (30%) to severely (70%) active disease in multiple organ systems. The primary efficacy measure was a combined index endpoint, which included several indices of SLE disease activity. Treatment advantage of epratuzumab over placebo reached 24.9% at week 12. This has IMMU shares surging. This closed yesterday at $4.26 and the 52-week hig WAS $5.39. Shares are up over 80% at $7.90 in very active trading. At 8:21 AM EST we have seen some 495,000 shares trade hands and the average daily volume here is some 830,000 shares. The market cap before this pop was only about $320 million. -JON OGG