Immunomedics blasted after UCB lupus PhIIIs fail

UCB says that its two Phase III trials for their lupus drug epratuzumab failed. The developer said that neither of the two doses used in the identical, late-stage trials proved statistically superior to a placebo. The CD-22 targeting antibody was in-licensed from Immunomedics ($IMMU), which was hammered hard after the news hit. Morris Plains, NJ-based Immunomedics' shares were down 42% in early trading Tuesday. Release