Immunomedics must endure another delay as FDA rejects cancer drug citing manufacturing issues
We all like to root for the underdog. Following an arid spell stretching over three decades that in 2017 led to the ouster of Immunomedics founder/CSO and his CEO wife, the company (and analysts) were hopeful the drug developer would finally win its first FDA nod for its treatment for a difficult-to-treat form of breast cancer. The management shakeup, at the behest of an activist shareholder campaign, had rejuvenated the company’s fortunes by attracting investment and ramping up the drug’s development. But the FDA on Thursday handed the biotech a rejection citing manufacturing issues, adding yet another delay to the regulatory timeline.
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