On January 10, 2017, venBio Select Advisor LLC responded to the announcement by Immunomedics, Inc. of new nominees for the Board of Directors as well as leadership adjustments. venBio Select Advisor expressed that that the announcement from the Company is too little, too late, and indicates that they do not understand the severity of its concerns. In addition, venBio Select Advisor stated that, despite the Company’s recent actions, it has not assembled the expertise needed to oversee its main asset, IMMU-132, and the critical period ahead for it, namely the licensing and partnering period. Furthermore, urged shareholders of the Company Asks Stockholders to wait for mailing of new gold card and to not vote on the Company’s white card.