Here's Why Immunomedics Shares Are Skyrocketing Today

After the Food and Drug Administration approved the company's advanced breast cancer drug Trodelvy on Wednesday, the stock of Immunomedics (NASDAQ: IMMU) surged 22.9% as of 11:25 a.m. EDT on Thursday.

The FDA was expected to issue its go/no-go decision for Trodelvy on June 2. Instead, it gave the drug an early go-ahead, ostensibly because of the significant need for treatment options in heavily pre-treated metastatic triple-negative breast cancer (mTNBC).

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Source Fool.com