Gilead's Immunomedics settles over-hyped ASCO data mishap for $4M
Each year, the American Society of Clinical Oncology’s prestigious annual meeting unveils some of the latest and greatest new cancer data, occasionally making or breaking smaller biotechs along the way.
In 2016, this was the case for a clinical-stage biotech known as Immunomedics, which was eventually acquired by Gilead for $21 billion in 2020.
What started with a stock-pumping promise for a major ASCO update from Immunomedics execs on new data for its potential breast cancer drug, ended with ASCO kicking the company out of the meeting that year, while explaining that the data were old and previously presented at an industry event.
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