EXHIBIT 99.1


        Immunomedics, Inc. Raises $15 Million in Sale of Common Stock

Morris Plains, N.J., August 2, 2004 - Immunomedics, Inc. (Nasdaq: IMMU) today
announced that agreements have been signed to sell 4,178,116 shares of its
common stock, resulting in gross proceeds to the Company of approximately $15.1
million. The shares are being sold to select institutional investors at a price
of $3.61 per share. The Company has also agreed to grant these investors rights
to purchase an additional 4,178,116 shares of its common stock at a price of
$3.97 per share, by a date no later than November 24, 2004. The shares of common
stock are being offered pursuant to an effective shelf registration statement
filed with the Securities and Exchange Commission. The sale is expected to close
on or about Monday, August 2, 2004, subject to customary closing conditions. RBC
Capital Markets is acting as the exclusive placement agent in connection with
the transaction.

"We are pleased with this round of financing, which has strengthened our cash
position," said Gerard G. Gorman, Vice President of Finance and Chief Financial
Officer. At March 31, 2004, the Company had $25.0 million in cash and liquid
securities, including $5.4 million of restricted securities that collateralize
the New Jersey Economic Development Authority financing completed in May 2003
for construction of expanded manufacturing facilities.

"Our improved cash position facilitates, we believe, our negotiating position in
various out-licensing discussions, while we continue the clinical development of
our potential products for cancer and autoimmune disease therapy," added Cynthia
L. Sullivan, President and Chief Executive Officer. Ms. Sullivan also stated:
"We are particularly encouraged with the results of our initial trial of
epratuzumab, our humanized anti-CD22 antibody, in the treatment of patients with
systemic lupus erythematosus."

This press release shall not constitute an offer to sell or a solicitation of an
offer to buy, nor shall there be any sale of these securities in any state in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state. Any offer, if at
all, will be made only by means of the prospectus, including the prospectus
supplement, which forms a part of the effective registration statement.

Immunomedics, Inc. is a biopharmaceutical company focused on the development,
manufacture and commercialization of diagnostic imaging and therapeutic products
for the detection and treatment of cancer and other serious diseases. Integral
to these products are highly specific monoclonal antibodies and antibody
fragments designed to deliver radioisotopes and chemotherapeutic agents to
tumors and other sites of disease. Immunomedics has nine therapeutic product
candidates in clinical development and has two marketed diagnostic imaging
products. The most advanced therapeutic product candidates are LymphoCide(R)
(epratuzumab), for which certain Phase II clinical trials for the treatment of
non-Hodgkin's lymphoma have already been completed, and CEA-Cide(R)
(labetuzumab), which is in Phase I/II clinical trials for the treatment of
certain solid tumors.



This release, in addition to historical information, contains forward-looking
statements made pursuant to the Private Securities Litigation Reform Act of
1995. Any statement in this release that is not a statement of historical fact,
including, but not limited to, statements regarding the Company's business
strategy, clinical trials and future financial condition, is a forward-looking
statement. Such forward-looking statements involve significant known and unknown
risks and uncertainties and actual result could differ materially from those
expressed or implied herein. Factors that could cause such differences include,
but are not limited to, risks associated with new product development (including
clinical trials outcome and regulatory requirements/actions), competitive risks
to marketed products and availability of financing and other sources of capital,
as well as the risks discussed in the Company's Annual Report on Form 10-K for
the fiscal year ended June 30, 2003 and other filings with the Securities and
Exchange Commission. The Company is not under any obligation, and the Company
expressly disclaims any obligation, to update or alter any forward-looking
statements, whether as a result of new information, future events or otherwise.

Company Contact (including to obtain a copy of the prospectus): Chau Cheng,
Associate Director, Investor Relations & Business Analysis, (973) 605-8200,
extension 123. Visit the Company's web site at http://www.Immunomedics.com.