Why Immunomedics, Inc. Is Soaring Today

After Immunomedics (NASDAQ: IMMU) shared some positive clinical data with investors, shares of the clinical-stage biotech focused on cancer rose 17% as of 3:10 p.m. EST on Wednesday.

Immunomedics announced data from a phase 2 study that tested its lead compound sacituzumab govitecan as a potential treatment for metastatic triple-negative breast cancer (mTNBC). Data from the 110 patient study showed that sacituzumab govitecan elicited an objective response rate of 31%, with a median duration of response of 9.1 months. That's much better than the 10% to 15% response rate that current standard-of-care therapies provide.

Here's what Immunomedics' relatively new CEO Michael Pehl had to say about the data:

Source: Fool.com