Immunomedics, Inc. (IMMU) Accused of Data Integrity Breach
According to the filed complaint against the company for alleged violations of the Securities Exchange Act of 1934 between August 23, 2018, and December 20, 2018, on December 17, 2018, FDAnews.com published an article, stating that “he FDA cited Immunomedics, Inc. (IMMU) for a host of violations – including its handling of a data integrity breach – observed at its Morris Plains, New Jersey, drug substance manufacturing facility between August 6 and 14.” The breach purportedly included “manipulated bioburden samples, misrepresentations of an integrity test procedure in the batch record, and backdating of batch records, such as dates of analytical results.” On December 20, 2018, Favus Institutional Research issued its own report discussing the data integrity breach. On this news, Immunomedics’ stock fell 20% to close at $14.17 on December 20, 2018. The stock currently trades at $13.24.