On January 30, 2017, venBio Select Advisor LLC sent a letter to Immunomedics, Inc. stockholders in connection with venBio’s nomination of 4 candidates: Scott Canute, Peter Barton Hutt, Khalid Islam, and Behzad Aghazadeh for election to the Company’s Board of Directors at the upcoming 2016 annual meeting of stockholders, which is scheduled to be held on February 16, 2017. In the letter, venBio Select urged the shareholders of the Company to vote on venBio Select’s proxy card for venBio’s 4 nominees to drive necessary and meaningful change at the Company.