IMMUNOMEDICS <IMMU> TO SELL COMMON STOCK
Immunomedics Inc said it filed a
registration statement with the Securities and Exchange
Commission for the proposed sale of 2,500,000 shares of common
stock.
    The company said it will sell 2,100,000 shares and that
certain stockholders will sell the remaining 400,000 shares.
    Proceeds from the offering will be used for product
development, basic research, staff expansion, prepayment of
debt, capital expenditures and working capital, the company
said. The offering will be co-managed by E.F. Hutton and Co Inc
and First Boston Corp, Immunomedics said.
 Reuter
