) fourth quarter 2013 (ended Jun 30) loss of 9 cents per share
was narrower than both the year-ago loss and the Zacks Consensus
Estimate of loss of 10 cents per share.
Total revenues in the final quarter of 2013 were up 41.1% year
over year to $1.4 million. The increase was primarily
attributable to research and development funding and favorable
timing of research activities.
For fiscal 2013, loss was 16 cents per share compared to the
year-ago earnings of a penny per share. Loss was narrower than
the Zacks Consensus Estimate of a loss of 29 cents per share.
Revenues in fiscal 2013 fell 84.8% year over year to $5.0
million. Revenues in fiscal 2012 benefited from a one-time
licensing fee from
In the fourth quarter of 2013, costs and expenses increased 5.8%
to $9 million. The company is currently focusing on the
development of its pipeline. Epratuzumab, the most advanced
pipeline candidate at Immunomedics, is being evaluated for the
treatment of moderate-to-severe systemic lupus erythematosus
The company has collaborated with UCB for the candidate. A phase
III study on epratuzumab is currently enrolling patients. patient
enrollment is expected to continue throughout calendar 2013 with
initial results expected in the first quarter of calendar 2015.
The SLE market currently has products like
Another interesting candidate at Immunomedics is clivatuzumab
tetraxetan for the treatment of patients suffering from
pancreatic cancer. The company expects to initiate a phase III
registration trial on the candidate towards the end of calendar
2013 or early 2014.
Immunomedics currently carries a Zacks Rank #3 (Hold). At
) looks well-positioned with a Zacks Rank #1 (Strong Buy).
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