Exhibit 99.1

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                     Immunomedics Inc. Completes $35 Million
                  Senior Convertible Notes and Warrant Offering

Morris Plains, NJ, April 27, 2005 - Immunomedics, Inc. (Nasdaq: IMMU) today
announced the closing of a $35 million financing of its 5% Senior Convertible
Notes due 2008 and common stock warrants. The notes and warrants were sold to
qualified institutional investors and institutional accredited investors. Each
purchaser received a warrant to purchase 381.97 shares of common stock for each
$1,000 of principal amount notes purchased and was granted a 120 day option to
purchase up to an additional 20% of principal notes and warrants at the offering
price plus accrued interest based on their initial purchase. The warrants are
exercisable commencing on the effective date of the share increase described
below until the third anniversary of the initial closing date at $2.98per share
of common stock, or approximately 125% of our current common stock price.

Interest on the notes is payable semi-annually in arrears and, at the discretion
of the company, is payable in cash or in shares of company common stock. Holders
of the notes may at their election at any time, as well asthe company may,
subject to certain market performance targets, cause the holders to convert the
notes into shares of common stock prior to the maturity date. If the notes are
converted prior to the third anniversary of the issue date, the holder will be
entitled to interest through the third anniversary. At term, the notes and any
accrued interest are payable in the company's discretion in cash, common stock
or any combination. The initial conversion price of the notes is 110% of the
average stock price for the three trading days preceding the notes' issue date.
The company will use some of the proceeds of the offering to cancel at closing
$5 million of its 3.25% Convertible Notes due 2006 and will convert the $5
million balance of its outstanding 3.25% Convertible Notes due 2006 into 5%
Senior Convertible Notes due 2008.

"This financing maximizes our options at an important stage of our development.
The funds raised will enable us to move forward independently with registration
trials for our lead product, epratuzamab, in moderate to severe lupus, cover
general working capital purposes and, redeem our outstanding 3.25% Convertible
Notes due January 2006." commented Gerard G. Gorman, Vice President, Finance and
Chief Financial Officer. "At the same time and without delaying our trial, we
continue to hold discussions with potential partners for epratuzamab in all
indications with the aim of securing the best possible agreement for our product
and for our shareholders." he added.

"Our goal is to expeditiously bring to market a product that can help improve
the quality of life for lupus patients. The details of our protocols have been
finalized with the Food and Drug Administration (FDA), European Medicines
Evalaution Agency (EMEA), and our principal clinical investigators, and we are
on schedule to initiate two pivotal phase III clinical trials in the first half
of this calendar year. These trials will further evaluate the safety and
efficacy of epratuzumab in the treatment of patients with moderate to severe
lupus, a pervasive disease that is in great need of new therapy options,"
commented Cynthia L. Sullivan, President and Chief Executive Officer. "We are
pleased with the support our investors have demonstrated by providing the
company with this financing to further our overall growth strategy as we
continue to seek and evaluate potential strategic relationships," she added.

As soon as practicable, the company intends to call a special meeting of its
stockholders to request a 40 million share increase to its authorized common
stock to include 7.43 million additional shares required for conversion of all
of the notes and exercise of all of the warrants. The company had available at
closing approximately 8.92 million shares of unrestricted authorized common
stock including the shares formerly reserved for conversion of the company's
3.25% Convertible Notes due 2006 which it has reserved for the conversion of the
notes; at the initial conversion rate, the company requires approximately 16.35
million, or 7.43 million additional shares of unrestricted authorized common
stock. Under the terms of the indenture pursuant to which the notes were issued,
the company is required within 120 days of issue to obtain shareholder approval
to increase the company's authorized common stock by not less than 7.43 million
shares or be subject to successive monthly increases in the interest rate,
subject to a cap.

Mr. Gorman added, "The share increase above the required amount is necessary to
allow the company flexibility to utilize stock to assist in funding the its
continued operations and expansion plans, including joint ventures, licensing
arrangements, acquisitions and the development of certain strategic
relationships, as well as to pay interest on the notes if the company so elects.
While the company has no current plans to affect any specific business
transaction with the additional shares, in the event it does affect any such
transaction, shares will only be issued upon approval by the company's board
exercising its fiduciary duties. Additional stockholder consent may also be
required for any future issuance."

Under the terms of the indenture the company is also required to escrow
approximately $12.3 million of the note proceeds until it obtains shareholder
approval and files an amended certificate of incorporation reflecting at least
the required share increase. If the company does not within 210 days of issue
complete the required share increase, the holders will have the right to require
the company to repurchase the notes.

The notes have not been registered under the Securities Act of 1933, as amended,
or any state securities laws, and may not be offered or sold in the United
States absent registration or an applicable exemption from registration
requirements. Holders of the notes and common stock issuable upon conversion of
the notes may register their securities pursuant to a registration statement
that the company will use its best efforts to file within 120 days and cause to
be effective within 180 days of issue. Interest on the notes is subject to
successive monthly increases, subject to a cap, if the registration statement
covering the notes and the shares is not filed or effective as the company has
agreed.

Immunomedics is a biopharmaceutical company focused on the development of
monoclonal, antibody-based products for the targeted treatment of cancer,
autoimmune and other serious diseases. We have developed a number of advanced
proprietary technologies that allow us to create humanized antibodies that can
be used either alone in unlabeled or "naked" form, or conjugated with
radioactive isotopes, chemotherapeutics or toxins, in each case to create highly
targeted agents. Using these technologies, we have built a pipeline of
therapeutic product candidates that utilize several different mechanisms of
action. We believe that our portfolio of intellectual property, which includes
approximately 90 issued patents in the United States, and more than 250 other
issued patents worldwide, protects our product candidates and technologies.

Lazard Freres & Co. LLC, investment banker to the company, was the placement
agent in this financing.

This release, in addition to historical information, contains forward-looking
statements made pursuant to the Private Securities Litigation Reform Act of
1995. Such statements, including statements regarding clinical trials,
out-licensing arrangements, and capital raising activities, involve significant
risks and uncertainties and actual results 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, 2004. 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.

Immunomedics, Inc. will file a proxy statement with the SEC concerning the share
increase. INVESTORS ARE URGED TO READ THE PROXY STATEMENT WHEN IT BECOMES
AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC BECAUSE THEY WILL
CONTAIN IMPORTANT INFORMATION. Investors will be able to obtain the documents
free of charge at the website maintained by the SEC at www.sec.gov. In addition,
investors may obtain documents filed with the SEC by Immunomedics, Inc. free of
charge by requesting them in writing from Immunomedics, Inc. at 300 American
Road, Morris Plains, NJ 07950, Attention: Investor Relations, or by telephone at
(973) 605-8200.

Company Contact: Chau Cheng, Associate Director, Investor Relations & Business
Analysis, (973) 605-8200, extension 123. Visit the company's web site at
http://www.immunomedics.com.