Completes public offering of 2.2 mil. shares of common stock at $ 7 per share on July 24. The shares were offered through Allen & Company Inc. and Kemper Securities Group, Inc. The $ 15.4 mil. in net proceeds, in combination with "cash to be provided" from Immunomedics' "recently formed alliance" with Adria Labs for the marketing of Immunomedics' cancer imaging products, will be used in part for a new manufacturing facility and applied toward the company's seven products in clinicals.
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