Immunomedics (IMMU) 10-Q 4 Nov 15 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2015	Nov. 03, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	IMMU
Entity Registrant Name	IMMUNOMEDICS INC
Entity Central Index Key	722,830
Current Fiscal Year End Date	--06-30
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		94,639,981

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2015	Jun. 30, 2015
ASSETS
Cash and cash equivalents	$ 11,785,074	$ 13,452,775
Marketable securities	73,703,229	86,165,532
Accounts receivable, net of allowance for doubtful accounts of $71,624 at September 30, 2015 and $54,177 at June 30, 2015	489,107	345,627
Inventory	539,184	584,424
Other receivables	85,643	857,068
Prepaid expenses	1,725,132	1,136,103
Other current assets	649,267	945,673
Total current assets	88,976,636	103,487,202
Property and equipment, net of accumulated depreciation of $28,059,136 and $27,891,272 at September 30, 2015 and June 30, 2015, respectively	2,763,914	2,241,838
Other long-term assets	50,566	50,566
Total Assets	91,791,116	105,779,606
LIABILITIES AND STOCKHOLDERS' DEFICIT
Accounts payable and accrued expenses	11,985,641	11,808,223
Deferred revenues	307,913	271,667
Total current liabilities	12,293,554	12,079,890
Convertible senior notes - net of unamortized debt issuance costs of $3,192,968 at September 30, 2015 and $3,375,423 at June 30, 2015	96,807,032	96,624,577
Other liabilities	$ 1,624,639	$ 1,599,760
Commitments and Contingencies
Stockholders' Deficit:
Preferred stock, $0.01 par value; authorized 10,000,000 shares; no shares issued and outstanding at September 30, 2015 and at June 30, 2015
Common stock, $0.01 par value; authorized 155,000,000 shares; issued 94,674,706 shares and outstanding 94,639,981 shares at September 30, 2015; and issued 94,546,578 shares and outstanding 94,511,853 shares at June 30, 2015	$ 946,746	$ 945,465
Capital contributed in excess of par	306,183,459	305,229,354
Treasury stock, at cost, 34,725 shares at September 30, 2015 and at June 30, 2015	(458,370)	(458,370)
Accumulated deficit	(324,861,826)	(309,468,004)
Accumulated other comprehensive loss	(109,927)	(161,092)
Total Immunomedics, Inc. stockholders' deficit	(18,299,918)	(3,912,647)
Noncontrolling interest in subsidiary	(634,191)	(611,974)
Total stockholders' deficit	(18,934,109)	(4,524,621)
Total Liabilities and Stockholders' Deficit	$ 91,791,116	$ 105,779,606

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2015	Jun. 30, 2015
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 71,624	$ 54,177
Property and equipment, accumulated depreciation	28,059,136	27,891,272
Unamortized debt issuance costs	$ 3,192,968	$ 3,375,423
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	155,000,000	155,000,000
Common stock, shares issued	94,674,706	94,546,578
Common stock, shares outstanding	94,639,981	94,511,853
Treasury stock, shares	34,725	34,725

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Loss - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Product sales	$ 581,248	$ 727,633
License fee and other revenues	10,825
Research and development	138,805	344,365
Total revenues	730,878	1,071,998
Costs and Expenses:
Costs of goods sold	58,264	76,286
Research and development	12,913,130	9,392,017
Sales and marketing	143,521	228,637
General and administrative	1,724,294	3,819,192
Total costs and expenses	14,839,209	13,516,132
Operating loss	(14,108,331)	(12,444,134)
Interest expense	(1,369,955)
Interest and other income, net	91,958	25,072
Foreign currency transaction loss	(10,461)	(11,737)
Loss before income tax expense	(15,396,789)	(12,430,799)
Income tax expense	(19,250)	(11,963)
Net loss	(15,416,039)	(12,442,762)
Less: Net loss attributable to noncontrolling interest	(22,217)	(32,342)
Net loss attributable to Immunomedics, Inc. stockholders	$ (15,393,822)	$ (12,410,420)
Loss per common share attributable to Immunomedics, Inc. stockholders, (basic and diluted)	$ (0.16)	$ (0.13)
Weighted average shares used to calculate loss per common share, (basic and diluted)	94,595,826	93,098,202
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	$ 17,468	$ (178,130)
Unrealized gain (loss) on available-for-sale securities	33,697	(4,452)
Other comprehensive income (loss)	51,165	(182,582)
Comprehensive loss	(15,364,874)	(12,625,344)
Less comprehensive loss attributed to noncontrolling interest	(22,217)	(32,342)
Net comprehensive loss attributable to Immunomedics, Inc.	$ (15,342,657)	$ (12,593,002)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows used in operating activities:
Net loss	$ (15,416,039)	$ (12,442,762)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	167,865	140,817
Amortization of deferred revenue	(10,825)	3,147
Amortization of bond premiums	205,756	135,438
Amortization of debt issuance costs	182,455
Amortization of deferred rent	24,879	24,879
Gain from the sales of marketable securities	(1,844)	(7,215)
Increase (decrease) in allowance for doubtful accounts	17,447	(2,072)
Non-cash expense related to stock compensation	896,687	561,110
Changes in other operating assets and liabilities	584,152	2,479,760
Net cash used in operating activities	(13,349,467)	(9,106,898)
Cash flows provided by investing activities:
Proceeds from sales of marketable securities	14,292,088	8,196,588
Purchases of marketable securities	(2,000,000)
Purchases of property and equipment	(689,941)	(331,750)
Net cash provided by investing activities	11,602,147	7,864,838
Cash flows provided by (used in) financing activities:
Exercise of stock options, net	142,179
Tax withholding payments for stock compensation	(83,479)	(86,571)
Net cash provided by (used in) financing activities	58,700	(86,571)
Effect of changes in exchange rates on cash and cash equivalents	20,919	(187,388)
Net decrease in cash and cash equivalents	(1,667,701)	(1,516,019)
Cash and cash equivalents, beginning of period	13,452,775	6,961,494
Cash and cash equivalents, end of period	11,785,074	$ 5,445,475
Supplemental disclosure of cash flow information:
Interest paid	$ 2,427,778

Business Overview and Basis of

Business Overview and Basis of Presentation	3 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Business Overview and Basis of Presentation	1. Business Overview and Basis of Presentation Immunomedics is a clinical-stage biopharmaceutical company that develops monoclonal antibody-based products for the targeted treatment of cancer, autoimmune and other serious diseases. The Company has continued to transition its focus away from the development and commercialization of diagnostic imaging products in order to accelerate the development of its therapeutic product candidates, although the Company still manufactures and commercializes its LeukoScan ® ® The Company has two foreign subsidiaries, Immunomedics B.V. in the Netherlands and Immunomedics GmbH in Darmstadt, Germany, that assist the Company in managing sales efforts and coordinating clinical trials in Europe. In addition, included in the accompanying condensed financial statements is the majority-owned U.S. subsidiary, IBC Pharmaceuticals, Inc. (“IBC”), which works on the development of novel cancer radiotherapeutics using patented pre-targeting technologies with proprietary, bispecific antibodies. The accompanying unaudited condensed consolidated financial statements of Immunomedics, which incorporate our subsidiaries, have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), for interim financial information and the instructions to the Quarterly Report on Form 10-Q S-X. Immunomedics is subject to significant risks and uncertainties, including, without limitation, the risk that the Company may be unable to successfully obtain financing for product development; the Company’s inability to further identify, develop and achieve commercial success for new products and technologies; the possibility of delays in the research and development necessary to select drug development candidates and delays in clinical trials; the risk that clinical trials may not result in marketable products; the risk that the Company or its’ collaborators may be unable to secure regulatory approval of and market its drug candidates; the Company’s dependence upon pharmaceutical and biotechnology collaborations; the levels and timing of payments under the Company’s collaborative agreements, if any; uncertainties about the Company’s ability to obtain new corporate collaborations and acquire new technologies on satisfactory terms, if at all; the development or regulatory approval of competing products; the Company’s ability to protect its proprietary technologies; patent-infringement claims; and risks of new, changing and competitive technologies and regulations in the United States and internationally. Since its inception in 1982, Immunomedics’ principal sources of funds have been the private and public sale of equity and debt securities and revenues from licensing agreements, which could provide up-front and milestone payments, as well as funding of development costs and other licensing terms. As of September 30, 2015, the Company had cash, cash equivalents and marketable securities totaling $85.5 million. The Company’s budgeted cash requirements in fiscal year 2016 includes expenses related to the clivatuzumab tetraxetan Phase 3 clinical trial for the treatment of patients with pancreatic cancer, as well as for expenses for the ongoing Phase 2 expansion ADC clinical trials (sacituzumab govitecan and labetuzumab govitecan). For the three-month period ended September 30, 2015 the Company utilized cash, cash equivalents and marketable securities aggregating $13.3 million related to its operating activities. Based on the Company’s cash flow projections, the Company believes it has sufficient funds to continue its operations and research and development programs for at least the next twelve months. Future financial demands include ongoing operating expenses, Phase 3 and Phase 2 clinical trials, and further development of various clinical trial programs in fiscal 2017 and beyond. Until the Company can generate significant cash from its operations, the Company expects to continue to fund its operations with its available financial resources. These financial resources may not be adequate to sustain its operations and the Company will be required to finance future cash needs through strategic collaboration agreements, or the sale of additional equity or debt securities. However, the Company cannot be certain that additional financing will be available when needed or that, if available, financing will be obtained on terms favorable to the Company or its stockholders. The capital markets have experienced volatility in recent years, which has resulted in uncertainties with respect to availability of capital and hence the timing to meet an entity’s liquidity needs. Having insufficient funds may require the Company to delay, scale-back or eliminate some or all of its programs or renegotiate less favorable terms than it would otherwise choose. Failure to obtain adequate financing also may adversely affect its ability to operate as a going concern. The Company continues to pursue business development and licensing arrangements as a potential source of financing. These activities include any new parties who may be interested in the Company’s clinical programs as well as any licenses to the Company’s intellectual property estate. The Company’s current partner, The Bayer Group (“Bayer”), State and Federal Grants, along with potential debt and equity financing may also be other sources of financing.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies These unaudited condensed consolidated interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2015. The Company adheres to the same accounting policies in preparation of its interim financial statements. Principles of Consolidation and Presentation The condensed consolidated financial statements include the accounts of Immunomedics and its subsidiaries. Noncontrolling interests in consolidated subsidiaries in the condensed consolidated balance sheets represent minority stockholders’ proportionate share of the equity (deficit) in such subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Financial Instruments The carrying amounts of cash and cash equivalents, other current assets and current liabilities approximate fair value due to the short-term maturity of these instruments. The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Marketable Securities Immunomedics adopted Accounting Standards Codification No. 320, Accounting for Investments—Debt and Equity Securities Marketable securities, all of which are available-for-sale, consists of corporate debt securities, U.S. bonds, U.S. sponsored agencies and municipal bonds. Corporate debt securities include Eurodollar issues of U.S. corporations, and U.S. dollar denominated issues of foreign corporations. Marketable securities are carried at fair value, with unrealized gains and losses, net of related income taxes, reported as accumulated other comprehensive loss, except for losses from impairments which are determined to be other-than-temporary. Realized gains and losses, and declines in value judged to be other-than-temporary on available-for-sale securities are included in the determination of net loss and are included in interest and other income (net), at which time the average cost basis of these securities are adjusted to fair value. Fair values are based on quoted market prices at the reporting date. Interest and dividends on available-for-sale securities are included in interest and other income (net). Inventory Inventory, which consists only of the finished product of LeukoScan ® Revenue Recognition The Company has accounted for revenue arrangements that include multiple deliverables as a separate unit of accounting if both of the following criteria are met: a) the delivered item has value to the customer on a standalone basis, and b) if the right of return exists, delivery of the undelivered items is considered probable and substantially in the control of the vendor. If these criteria are not met, the revenue elements must be considered a single unit of accounting for purposes of revenue recognition. The Company allocates revenue consideration, excluding contingent consideration, based on the relative selling prices of the separate units of accounting contained within an arrangement containing multiple deliverables. Relative selling prices are determined using vendor specific objective evidence, if it exists; otherwise third-party evidence or the Company’s best estimate of selling price is used for each deliverable. Payments received under contracts to fund certain research activities are recognized as revenue in the period in which the research activities are performed. Payments received in advance that are related to future performance are deferred and recognized as revenue when the research projects are performed. Upfront nonrefundable fees associated with license and development agreements where the Company has continuing involvement in the agreement are recorded as deferred revenue and recognized over the estimated service period. The Company estimates the period of continuing involvement based on the best evidential matter available at each reporting period. If the estimated service period is subsequently modified, the period over which the upfront fee is recognized is modified accordingly on a prospective basis. In order to determine the revenue recognition for contingent milestones, the Company evaluates the contingent milestones using the criteria as provided by the Financial Accounting Standards Boards (“FASB”) guidance on the milestone method of revenue recognition, as explained in ASU 2010-17, “ Milestone Method of Revenue Recognition,” Revenue from the sale of diagnostic products is recorded when there is persuasive evidence that an arrangement exists, delivery has occurred, the price is fixed and determinable or collectability is reasonably assured. Allowances, if any, are established for uncollectible amounts, estimated product returns and discounts. Since allowances are recorded based on management’s estimates, actual amounts may be different in the future. Research and Development Costs Research and development costs are expensed as incurred. Costs incurred for clinical trials for patients and investigators are expensed as services are performed in accordance with the agreements in place with their clinical sites. Reimbursement of Research & Development Costs Research and development costs that are reimbursable under collaboration agreements are included as a reduction of research and development expenses. The Company records these reimbursements as a reduction of research and development expenses as the Company’s partner in the collaboration agreement has the financial risks and responsibility for conducting these research and development activities. Stock-Based Compensation The Company utilizes stock-based compensation in the form of stock options, stock appreciation rights, stock awards, stock unit awards, performance shares, cash-based performance units and other stock-based awards, each of which may be granted separately or in tandem with other awards. The grant-date fair value of stock awards is based upon the underlying price of the stock on the date of grant. The grant-date fair value of stock option awards must be determined using an option pricing model. Option pricing models require the use of estimates and assumptions as to (a) the expected term of the option, (b) the expected volatility of the price of the underlying stock and (c) the risk-free interest rate for the expected term of the option. The Company uses the Black-Scholes-Merton option pricing formula for determining the grant-date fair value of such awards. The expected term of the option is based upon the contractual term and expected employee exercise and expected post-vesting employment termination behavior. The expected volatility of the price of the underlying stock is based upon the historical volatility of the Company’s stock computed over a period of time equal to the expected term of the option. The risk free interest rate is based upon the implied yields currently available from the U.S. Treasury yield curve in effect at the time of the grant. Pre-vesting forfeiture rates are estimated based upon past voluntary termination behavior and past option forfeitures. The following table sets forth the weighted-average assumptions used to calculate the fair value of options granted for the three-month periods ended September 30, 2015 and 2014: Three-Month Period Ended September 30, 2015 2014 Expected dividend yield 0% 0 % Expected option term (years) 5.03 5.07 Expected stock price volatility 56% 61 % Risk-free interest rate 1.51% - 1.61% 1.60 % The Company uses historical data to estimate forfeitures. The expected term of options granted represents the period of time that options granted are expected to be outstanding. Expected stock price volatility was calculated based on the Company’s daily stock trading history. The risk-free rate for periods within the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of grant. Changes in any of these assumptions could impact, potentially materially, the amount of expense recorded in future periods related to stock-based awards. Income Taxes The Company uses the asset and liability method to account for income taxes, including the recognition of deferred tax assets and deferred tax liabilities for the anticipated future tax consequences attributable to differences between financial statement amounts and their respective tax bases. The Company reviews its deferred tax assets for recovery. A valuation allowance is established when the Company believes that it is more likely than not that its deferred tax assets will not be realized. Changes in valuation allowances from period to period are included in the Company’s tax provision in the period of change. The Company has recorded a full valuation allowance against its net deferred tax assets as of September 30, 2015. At June 30, 2015, the Company has available net operating loss carry forwards for federal income tax reporting purposes of approximately $231.0 million and for state income tax reporting purposes of approximately $103.4 million, which expire at various dates between fiscal 2016 and 2035. Pursuant to Section 382 of the Internal Revenue Code of 1986, as amended, the annual utilization of a company’s net operating loss and research credit carry forwards may be limited if the Company experiences a change in ownership as defined in Section 382 of the Internal Revenue Code. The Company’s net operating loss carry forwards available to offset future federal taxable income arising before such ownership changes may be limited. Similarly, the Company may be restricted in using its research credit carry forwards arising before such ownership changes to offset future federal income tax expense. The majority-owned subsidiary of the Company (IBC Pharmaceuticals, Inc.) is currently under examination by the Internal Revenue Service for the fiscal year ended December 31, 2013. Income taxes were provided for profitable foreign jurisdictions at the estimated annual tax rate during the three-month periods ended September 30, 2015 and 2014. The Company’s U.S. operations reported a net loss for the three-month periods ended September 30, 2015 and 2014, resulting in a tax benefit that was fully offset by a valuation allowance. The Company has no liability for uncertain tax positions as of September 30, 2015. Net Loss Per Share Allocable to Common Stockholders Net loss per basic and diluted common share allocable to common stockholders is based on the net loss for the relevant period, divided by the weighted-average number of common shares outstanding during the period. For purposes of the diluted net loss per common share calculations, the exercise or conversion of all potential common shares is not included because their effect would have been anti-dilutive, due to the net loss recorded for the three month periods ended September 30, 2015 and 2014. The common stock equivalents excluded from the diluted per share calculation are 27,839,015 and 7,461,763 shares at September 30, 2015 and 2014, respectively. Net Comprehensive Loss Net comprehensive loss consists of net loss, unrealized gain (loss) on available for sale securities and foreign exchange translation adjustments and is presented in the condensed consolidated statements of comprehensive loss. Reclassification Certain prior period balances have been reclassified to conform to the current period presentation. Recently Issued Accounting Pronouncements In August 2014, the FASB issued ASU 2014-15, “ Presentation of Financial Statements – Going Concern: Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern On May 28, 2014, the FASB issued ASU 2014-09, “ Revenue from Contracts with Customers

Marketable Securities

Marketable Securities	3 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	3. Marketable Securities Marketable securities at September 30, 2015 consisted of the following (in thousands): Amortized Gross Gross Fair Value September 30, 2015 U.S. Treasury Bonds $ 10,659 $ 14 $ — $ 10,673 Certificate of Deposits 8,000 4 — 8,004 U.S. Government Sponsored Agencies 33,300 34 (1 ) 33,333 Corporate Debt Securities 21,699 4 (10 ) 21,693 $ 73,658 $ 56 $ (11 ) $ 73,703 Maturities of debt securities classified as available-for-sale were as follows at September 30, 2015 (in thousands): Fair Value Net Carrying Due within one year $ 48,271 $ 48,436 Due after one year through five years 25,432 25,597 $ 73,703 $ 74,033 Marketable securities at June 30, 2015 consisted of the following (in thousands): Amortized Gross Gross Fair Value June 30, 2015 U.S. Treasury Bonds $ 13,375 $ 14 $ — $ 13,389 Certificate of Deposits 6,000 4 — 6,004 U.S. Government Sponsored Agencies 40,694 30 (9 ) 40,715 Corporate Debt Securities 26,085 2 (29 ) 26,058 $ 86,154 $ 50 $ (38 ) $ 86,166 Maturities of debt securities classified as available-for-sale were as follows at June 30, 2015 (in thousands): Fair Value Net Carrying Due within one year $ 46,516 $ 46,646 Due after one year through five years 39,650 39,831 $ 86,166 $ 86,477

Convertible Senior Notes

Convertible Senior Notes	3 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Convertible Senior Notes	4. Convertible Senior Notes In February 2015, the Company issued $100.0 million of Convertible Senior Notes (net proceeds of $96.3 million after deducting the initial purchasers’ fees and offering expenses) in a private offering exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), in reliance upon Rule 144A under the Securities Act. The Convertible Senior Notes will mature on February 15, 2020, unless earlier purchased or converted. The debt issuance costs of approximately $3.7 million, primarily consisting of underwriting, legal and other professional fees, are amortized over the term of the Convertible Senior Notes. The Convertible Senior Notes are senior unsecured obligations of the Company. Interest at 4.75% will be payable semiannually on February 15 and August 15 of each year. The effective interest rate on the Convertible Senior Note was 5.48% for the period from the date of issuance through September 30, 2015. The Convertible Senior Notes are convertible at the option of holders into approximately 19.6 million shares of Immunomedics common stock at any time prior to the close of business on the day immediately preceding the maturity date. The conversion rate will initially be 195.8336 shares of common stock per $1,000 principal amount of Convertible Senior Notes (equivalent to an initial conversion price of approximately $5.11 per share of Immunomedics common stock). If the Company undergoes a fundamental change (as defined in the indenture governing the Convertible Senior Notes), holders may require Immunomedics to purchase for cash all or part of the Convertible Senior Notes at a purchase price equal to 100% of the principal amount of the Convertible Senior Notes to be purchased, plus accrued and unpaid interest, if any, to, but excluding, the fundamental change purchase date, subject to certain exceptions. In addition, if certain make-whole fundamental changes (as defined in the indenture governing the Convertible Senior Notes) occur, Immunomedics will, in certain circumstances, increase the conversion rate for any Convertible Note converted in connection with such make-whole fundamental change. The indenture does not limit the amount of debt which may be issued by the Company under the indenture or otherwise, does not contain any financial covenants or restrict the Company from paying dividends or issuing or repurchasing its other securities. The indenture contains customary terms and covenants and events of default. If an event of default with respect to the Convertible Senior Notes occurs, holders may, upon satisfaction of certain conditions, accelerate the principal amount of the Convertible Senior Notes plus premium, if any, and accrued and unpaid interest, if any. In addition, the principal amount of the Convertible Senior Notes plus premium, if any, and accrued and unpaid interest, if any, will automatically become due and payable in the case of certain types of bankruptcy or insolvency events of default involving the Company. Total interest expense for the Convertible Senior Notes was $1.4 million for the three-month period ended September 30, 2015 including amortization of debt issuance costs of $0.2 million.

Estimated Fair Value of Financi

Estimated Fair Value of Financial Instruments	3 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Estimated Fair Value of Financial Instruments	5. Estimated Fair Value of Financial Instruments The Company’s financial instruments consist of cash and cash equivalents, marketable securities, accounts receivable, accounts payable and accrued expenses, and Convertible Senior Notes. The carrying amount of accounts receivable, accounts payable and accrued expenses are generally considered to be representative of their respective fair values because of the short-term nature of those instruments as of September 30, 2015 and June 30, 2015. The Company has categorized its other financial instruments, based on the priority of the inputs to the valuation technique, into a three-level fair value hierarchy as set forth below. If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. Financial instruments recorded on the condensed consolidated balance sheets as of September 30, 2015 and June 30, 2015 are categorized based on the inputs to the valuation techniques as follows (in thousands): • Level 1 • Level 2 • Level 3 Cash equivalents and marketable securities: ($ in thousands) September 30, 2015 Level 1 Level 2 Level 3 Total Money Market Funds $ 8,702 $ — $ — $ 8,702 Marketable Securities: U.S. Treasury Bonds 10,673 — — 10,673 Certificate of Deposits 8,004 — — 8,004 U.S. Government Sponsored Agencies 33,333 — — 33,333 Corporate Debt Securities 21,693 — — 21,693 Total $ 82,405 $ — $ — $ 82,405 ($ in thousands) June 30, 2015 Level 1 Level 2 Level 3 Total Money Market Funds $ 10,138 $ — $ — $ 10,138 Marketable Securities: U.S. Treasury Bonds 13,389 — — 13,389 Certificate of Deposits 6,004 — — 6,004 U.S. Government Sponsored Agencies 40,715 — — 40,715 Corporate Debt Securities 26,058 — — 26,058 Total $ 96,304 $ — $ — $ 96,304 The money market funds noted above are included in cash and cash equivalents. Convertible Senior Notes The carrying amounts and estimated fair values (Level 2) of debt instruments are as follows (in thousands): As of September 30, 2015 As of June 30, 2015 Carrying Estimated Carrying Estimated Convertible Senior Notes $ 96,807 $ 70,610 $ 96,625 $ 103,800 The fair value of the Convertible Senior Notes, which differs from their carrying values, is influenced by interest rates, the Company’s stock price and stock price volatility and is determined by prices for the Convertible Senior Notes observed in market trading which are Level 2 inputs.

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) Income	3 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Accumulated Other Comprehensive (Loss) Income	6. Accumulated Other Comprehensive (Loss) Income The components of accumulated other comprehensive (loss) income were as follows: Currency Net for-Sale Accumulated Balance, July 1, 2015 $ (172,693 ) $ 11,601 $ (161,092 ) Other comprehensive income before reclassifications 17,468 35,541 53,009 Amounts reclassified from accumulated other comprehensive income (a) — (1,844 ) (1,844 ) Net current-period other comprehensive income 17,468 33,697 51,165 Balance, September 30, 2015 $ (155,225 ) $ 45,298 $ (109,927 ) Balance, July 1, 2014 $ 261,924 $ (87 ) $ 261,837 Other comprehensive (loss) income before reclassifications (178,130 ) 2,763 (175,367 ) Amounts reclassified from accumulated other comprehensive (loss) income (a) — (7,215 ) (7,215 ) Net current-period other comprehensive loss (178,130 ) (4,452 ) (182,582 ) Balance, September 30, 2014 $ 83,794 $ (4,539 ) $ 79,255 (a) For the three-month periods ended September 30, 2015 and 2014, $1,844 and $7,215 was reclassified from accumulated other comprehensive income to interest and other income, respectively. All components of accumulated other comprehensive income are net of tax, except currency translation adjustments, which exclude income taxes related to indefinite investments in foreign subsidiaries.

Stock Incentive Plan

Stock Incentive Plan	3 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Incentive Plan	7. Stock Incentive Plan The Company has a stock incentive plan, the Immunomedics, Inc. 2014 Long-Term Incentive Plan (the “Plan”), that includes a discretionary grant program, a stock issuance program and an automatic grant program. The plan was established to promote the interests of the Company, by providing eligible persons with the opportunity to acquire a proprietary interest in the Company as an incentive to remain with the organization and to align the employee’s interest with our stockholders. Under the Plan option awards are generally granted with an exercise price equal to the closing price of the Company’s common stock on the date of grant. Those option awards generally vest based on four years of continuous service and have seven year contractual terms. Option awards that are granted to non-employee Board members under the annual option grant program are granted with an exercise price equal to the closing price of the Company’s common stock on the date of grant, are vested immediately and have seven year contractual terms. At September 30, 2015, there were 17,179,911 shares of common stock reserved for possible future issuance under the Plan, both currently outstanding (7,255,655 shares) and which were available to be issued for future grants (9,924,256 shares). The weighted average fair value at the date of grant for options granted during the three-month periods ended September 30, 2015 and 2014 were $0.87 and $1.75 per share, respectively. The Company uses historical data to estimate employee forfeitures for employees, executive officers and outside directors. The expected term of options granted represents the period of time that options granted are expected to be outstanding and the expected stock price volatility is based on the Company’s daily stock trading history. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. Information concerning options for the three-month period ended September 30, 2015 is summarized as follows: Shares Weighted Weighted Aggregate (in 000’s) Outstanding, July 1, 2015 4,525,340 $ 3.48 Granted 484,147 $ 1.78 Exercised (53,250 ) $ 2.67 Cancelled or forfeited (3,500 ) $ 4.09 Outstanding, September 30, 2015 4,952,737 $ 3.32 3.72 $ 4,550 Exercisable, September 30, 2015 3,285,794 $ 3.29 2.57 $ 4,550 A summary of the Company’s non-vested restricted and performance stock units at September 30, 2015, and changes during the three-month period ended September 30, 2015 are presented below: Outstanding Non-Vested Restricted and Performance Stock Units Number of Weighted-Average Grant Date Non-vested at July 1, 2015 706,881 $ 4.30 Restricted Units Granted (a) 214,205 $ 1.76 Restricted Units Granted – vesting based on certain market conditions (b) 1,500,000 $ 2.28 (c) Vested/Exercised (118,168 ) $ 3.78 Non-vested at September 30, 2015 2,302,918 $ 2.78 (a) For the three-month period ended September 30, 2015, 198,864 restricted stock units were awarded to the Company’s President and Chief Executive Officer and 15,341 restricted stock units were awarded to the Company’s Chief Financial Officer. (b) For the three-month period ended September 30, 2015, 1,500,000 restricted stock units were awarded to the Company’s Chairman, Chief Scientific Officer and Chief Patent Officer. (c) Represents fair value on date of grant determined by using Monte Carlo simulation technique. The Company has 3,969,861 non-vested options, restricted stock units and performance stock units outstanding as of September 30, 2015. As of September 30, 2015, there was $7.8 million of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the Plan. That cost is being recognized over a weighted-average period of 2.73 years. The Company recorded $0.9 million and $0.6 million for total stock-based compensation expense for employees, executive officers and non-employee Board members for the three-month periods ended September 30, 2015 and 2014, respectively. Each non-employee Board member who continues to serve on the Board shall receive on the date of the annual stockholders meeting a grant of non-qualified stock options and restricted stock units, each equal in value to $45 thousand. The Company recognizes the related stock-based compensation expense ratably over the fiscal year. In total, the Company recorded $45 thousand for stock-based compensation expense for these non-employee Board members restricted stock units for each of the three-month periods ended September 30, 2015 and 2014. Stock-based compensation expense regarding non-qualified stock options for these non-employee Board members become vested and are expensed when issued, during the second quarter of each fiscal year. On August 20, 2015, the Company awarded an additional 214,205 restricted stock units to certain executive officers of the Company at the closing price on that date ($1.76 per share). These restricted stock units will vest over a four year period. As of September 30, 2015, there was $1.4 million of total unrecognized compensation costs related to non-vested share-based compensation arrangements granted under the Plan for these executive officers, excluding performance stock units. The cost is being recognized over a weighted-average period of 2.7 years. The Company recorded $0.2 million for stock-based compensation expense for restricted stock units for each of the three-month periods ended September 30, 2015 and 2014. As part of the Amended and Restated Employment Agreement with Dr. Goldenberg which became effective July 1, 2015, (see Note 11), Dr. Goldenberg received a grant of 1,500,000 Restricted Stock Units, which shall vest, if at all, after the three (3) year period commencing on the grant date of July 14, 2015, provided the applicable milestones based on achievement of certain market conditions (stock prices) are met and conditioned upon Dr. Goldenberg’s continued employment through the vesting period, subject to the terms and conditions of the Restricted Stock Units Notice and the Restricted Stock Units Agreement and such other terms and conditions as set forth in the grant agreement. The Company recorded $0.2 million for the stock-based compensation for the three-month period ended September 30, 2015 for this agreement. There is $3.2 million of total unrecognized compensation cost related to these non-vested Restricted Stock Units granted as of September 30, 2015. That cost is being recognized over a remaining weighted-average period of 2.8 years. During fiscal year 2014 the Company awarded certain executive officers Performance Units (as such term is defined in the Plan) of up to 389,864 units of restricted stock units which are subject to attainment of certain performance milestones as well as certain continued service requirements. All or a portion of the Performance Units vest based upon the level of achievement of the milestones set forth in each agreement, which is expected to be achieved within five years of the grant date. The Performance Units that vest based upon attainment of the performance milestone will be exercisable based on a percentage basis on the attainment of anniversary dates. During the three-month period ended September 30, 2015, the Company awarded 19,493 of these restricted stock units to the executive officers as a result of achieving one of the performance milestones. In fiscal year 2014, 116,959 units were awarded from achieving two performance milestones. As of September 30, 2015, one performance milestone has not been achieved and there are 253,412 Performance Units available if all performances are achieved within five years of grant date. The Company recorded $0.1 million and $32 thousand for the stock-based compensation for the three-month periods ended September 30, 2015 and 2014, respectively. There is $0.4 million of total unrecognized compensation cost related to these non-vested Performance Units granted as of September 30, 2015. That cost is being recognized over a weighted-average period of 2.2 years. The unrecognized compensation cost is subject to modification on a quarterly basis based on review of performance probability and requisite achievement periods.

Geographic Segments

Geographic Segments	3 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Geographic Segments	8. Geographic Segments Immunomedics manages its operations as one line of business of researching, developing, manufacturing and marketing biopharmaceutical products, particularly antibody-based products for cancer, autoimmune and other serious diseases, and it currently reports as a single industry segment. Immunomedics conducts its research and development activities primarily in the United States. Immunomedics markets and sells LeukoScan ® The following table presents financial information based on the geographic location of the facilities of Immunomedics as of and for the three-months ended September 30, 2015 and 2014 ($ in thousands): As of and for the three-months ended September 30, 2015 United Europe Total Total assets $ 89,852 $ 1,939 $ 91,791 Property and equipment, net 2,756 8 2,764 Revenues 150 581 731 (Loss) income before income tax expense (15,427 ) 30 (15,397 ) As of and for the three-months ended September 30, 2014 United Europe Total Total assets $ 35,017 $ 2,799 $ 37,816 Property and equipment, net 2,086 — 2,086 Revenues 368 704 1,072 (Loss) income before income tax expense (12,455 ) 24 (12,431 )

Related Party Transactions

Related Party Transactions	3 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	9. Related Party Transactions Certain of the Company’s affiliates, including members of its senior management and Board of Directors, as well as their respective family members and other affiliates, have relationships and agreements among themselves as well as with the Company and its affiliates, that create the potential for both real, as well as perceived, conflicts of interest. These include Dr. David M. Goldenberg, the Company’s Chairman, Chief Scientific Officer and Chief Patent Officer, Ms. Cynthia L. Sullivan, the President and Chief Executive Officer, who is the wife of Dr. David M. Goldenberg, and certain companies with which the Company does business, including the Center for Molecular Medicine and Immunology (“CMMI”), which is currently in the process of dissolving, and IBC Pharmaceuticals, Inc. The Company incurred $9 thousand and $10 thousand of legal expenses on behalf of CMMI for patent related matters for each of the three-month periods ended September 30, 2015 and 2014. The Company has first rights to license those patents, and may decide whether or not to support them. However, any inventions made independently of the Company by CMMI are the property of CMMI. For the three-month periods ended September 30, 2015 and 2014, Dr. Goldenberg received approximately $22 thousand and $21 thousand, respectively, in compensation for his services to IBC.

License and Collaboration Agree

License and Collaboration Agreements	3 Months Ended
	Sep. 30, 2015
Text Block [Abstract]
License and Collaboration Agreements	10. License and Collaboration Agreements The Bayer Group (formerly Algeta ASA) In fiscal year 2013 the Company entered into a collaboration agreement, referred to herein as the Collaboration Agreement, with Algeta ASA (subsequently acquired by The Bayer Group “Bayer”), for the development of epratuzumab to be conjugated with Algeta’s proprietary thorium-227 alpha-pharmaceutical payload. Under the terms of the Collaboration Agreement, the Company manufactured and supplied clinical-grade epratuzumab to Bayer, which has rights to evaluate the potential of a Targeted Thorium Conjugate (TTC), linking thorium-227 to epratuzumab, for the treatment of patients with cancer. Bayer has the right to terminate the Collaboration Agreement with three months prior written notice, subject to certain provisions. Bayer will fund all non-clinical and clinical development costs up to the end of Phase 1 clinical testing. Upon successful completion of Phase 1 testing, the parties shall negotiate terms for a license agreement at Bayer’s request. The Company and Bayer have agreed to certain parameters in the Collaboration Agreement. Under the terms of the Collaboration Agreement, as amended, Immunomedics received an upfront cash payment and other payments aggregating $6.0 million, which have been recognized in prior periods upon the Company fulfilling its obligations under the Collaboration Agreement. For the year ended June 30, 2015, the Company recognized $1.0 million in license and other revenue for the completion of the clinical development milestone as described in the Collaboration Agreement, which required the shipment of sufficient quantities of clinical grade material to Bayer to complete their Phase 1 clinical trial. In addition, in January 2015, the Company recorded revenue of $0.3 million representing an anniversary payment under the agreement. The contract provides for the Company to receive two similar payments of $0.3 million each, representing “anniversary payment” over the next two years. UCB, S.A. On May 9, 2006, the Company entered into an agreement with UCB, S.A. referred to herein as UCB, providing UCB an exclusive worldwide license to develop, manufacture, market and sell epratuzumab for the treatment of all non-cancer indications referred to herein as the UCB Agreement. On December 27, 2011, the Company entered into the Amendment Agreement with UCB which provided UCB the right to sublicense epratuzumab, subject to obtaining the Company’s prior consent, to a third party for the United States and certain other territories. The Company also issued to UCB on December 27, 2011 a 5-year warrant to purchase one million shares of the Company’s common stock, par value $0.01 per share, at an exercise price of $8.00 per share. In exchange for the right to sublicense its rights in epratuzumab to a third party and the warrant issuance, the Company received a non-refundable cash payment of $30.0 million in January 2012. Further, under the terms of the Amendment Agreement, UCB surrendered its buy-in right with respect to epratuzumab in the field of oncology, which had been granted under the UCB Agreement. As of September 30, 2015, UCB has not executed a sublicense agreement with a third-party. Collectively, pursuant to the UCB Agreement and the Amendment Agreement the Company is entitled to receive (i) up to $130.0 million in cash payments and $20.0 million in equity investments in regulatory milestone payments and (ii) up to $260.0 million related to the achievement of specified product sales milestones. The Company is also entitled to product royalties ranging from a mid-teen to mid-twenty percentage of aggregate annual net sales under the UCB Agreement and Amendment Agreement during the product royalty term, (subject to reduction in certain circumstances). No development milestone, commercialization milestone or royalty payments were achieved through September 30, 2015. There can be no assurance that the development or commercialization milestones or royalty payment thresholds under the UCB Agreement and Amendment Agreement will be met and therefore there can be no assurance that the Company will receive such future payments. On July 28, 2015, UCB announced that the two Phase 3 EMBODY™ clinical trials for epratuzumab in SLE did not meet the primary clinical efficacy endpoints in either dose in both studies. UCB is in the process of analyzing the full set of data from both studies. The UCB Agreement is still in effect. At this time it is unclear if any milestones will be achieved. The UCB Agreement shall terminate in accordance with the terms thereof, by mutual written consent. In the event UCB decides to cease all development and commercialization of epratuzumab pursuant to the Agreement, UCB must promptly notify the Company, and the UCB Agreement will be deemed expired 30 days following receipt of notice. Either the Company or UCB has the right to terminate the UCB Agreement by notice in writing to the other party upon or after any material breach of the UCB Agreement by the other party, if the other party has not cured the breach within 60 days after written notice to cure has been given, with certain exceptions. Upon termination of the UCB Agreement, among other things, all rights and licenses granted by the Company to UCB shall terminate, all rights of UCB under the Immunomedics Patent Rights (as defined in the UCB Agreement) and Immunomedics Know-How (as defined in the UCB Agreement) shall revert to the Company, and UCB shall cease all use of the Immunomedics Patent Rights and Immunomedics Know-How. Further, all regulatory filings and Approvals (as defined in the UCB Agreement) and any other documents relating to or necessary to further develop and commercialize the Licensed Compound (as defined in the UCB Agreement) and Licensed Products (as defined in the UCB Agreement), including, without limitation, all sublicenses granted by UCB, and all of UCB’s right, title and interest therein and thereto, shall be assigned to the Company at the Company’s option. No additional amounts shall be payable on events occurring after the effective date of termination.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies Employment Contracts Effective July 1, 2015, the Company entered into the Amended and Restated Employment Agreement with Dr. Goldenberg pertaining to Dr. Goldenberg’s service to the Company as the Company’s Chairman of the Board, Chief Scientific Officer and Chief Patent Officer. The Amended and Restated Goldenberg Agreement will continue, unless earlier terminated by the parties, until July 1, 2020. Dr. Goldenberg’s current annual base salary under the Amended and Restated Goldenberg Agreement is $0.6 million, which shall be reviewed annually for appropriate increases by the Board or the Compensation Committee. Dr. Goldenberg is also eligible to participate in the Company’s incentive compensation plan in place for its senior level executives. Dr. Goldenberg’s annual bonus target is 50% of his base salary, subject to achievement of performance goals established by the Compensation Committee, with a potential payout from 0 to 150% of the target amount. For the 2015 fiscal year the strategic goal to out-license sacituzumab govitecan was not met. Taking into account the importance to the Company of out-licensing sacituzumab govitecan, the Compensation Committee determined that although certain individual performance goals were met, the Company’s overall strategic plan had not been accomplished and, therefore, any 2015 cash incentive to be paid to the named executive officers would be deferred until such time as this performance goal of out-licensing is met during fiscal 2016. At such time, the Compensation Committee will review the incentive payments to be paid at an amount to be determined by the Compensation Committee. Dr. Goldenberg will also be eligible to receive equity compensation awards under the Plan, or any such successor equity compensation plan as may be in place from time to time, at the discretion of the Compensation Committee. In lieu of any annual performance equity or equity-based grants throughout the term of the Amended and Restated Goldenberg Agreement, Dr. Goldenberg received a grant of 1,500,000 Restricted Stock Units (as such term is defined in the Plan), which shall vest, if at all, after the three (3) year period commencing on the grant date of July 14, 2015, provided the applicable milestones based on achievement of certain market conditions (stock prices) are met and conditioned upon Dr. Goldenberg’s continued employment through the vesting period, subject to the terms and conditions of the Restricted Stock Units Notice and the Restricted Stock Units Agreement and such other terms and conditions as set forth in the grant agreement. Cynthia L. Sullivan Effective July 1, 2014, the Company entered into the Fifth Amended and Restated Employment Agreement with Cynthia L. Sullivan pertaining to Ms. Sullivan’s service to the Company as the Company’s President and Chief Executive Officer (the “Amended Sullivan Agreement”), which terminates on June 30, 2017. Ms. Sullivan’s current annual base salary under the Amended Sullivan Agreement is $0.6 million, which is reviewed annually for appropriate increases by the Board or the Compensation Committee. Ms. Sullivan’s annual bonus target is 50% of her base salary, subject to achievement of performance goals, with a potential payout from 0% to 150% of the target amount. For the 2015 fiscal year the strategic goal to out-license sacituzumab govitecan was not met. Taking into account the importance to the Company of out-licensing sacituzumab govitecan, the Compensation Committee determined that although certain individual performance goals were met, the Company’s overall strategic plan had not been accomplished and, therefore, any 2015 cash incentive to be paid to the named executive officers would be deferred until such time as this performance goal of out-licensing is met during fiscal 2016. At such time, the Compensation Committee will review the incentive payments to be paid at an amount to be determined by the Compensation Committee. Ms. Sullivan is also eligible to receive equity compensation awards under the Plan, or any such successor equity compensation plan as may be in place from time to time. Legal Matters The following is a summary of legal matters that are outstanding: Shareholder complaints: In fiscal year 2014, two separate shareholder derivative complaints were filed against the Company. First, on March 24, 2014, a complaint styled Kops v. Goldenberg, et al., Breitman v. Sullivan, et al., Kops Breitman A putative class action lawsuit, styled Nasyrova v. Immunomedics, Inc., Patent litigation: On June 26, 2015, Immunomedics filed a complaint in the United State District Court for the District of New Jersey, against The Board of Directors of Roger Williams Medical Center (“RWMC”), Richard P. Junghans, M.D., Ph.D., Steven C. Katz, M.D., and the Office of the Board of Advisors of Tufts University School of Medicine. The complaint alleges that RWMC and Dr. Junghans breached a Material Transfer Agreement (“MTA”) through which it provided to them a monoclonal antibody known as MN-14 and related materials. Those parties are alleged to have breached the MTA and to have been negligent by, among other things, using the materials beyond the agreed Research Project, sharing confidential information, failing to notify Immunomedics of intended publications prior to publishing, and refusing to return the materials upon request. Immunomedics also asserts against all defendants’ claims of intentional interference with perspective economic gain and contracts, misappropriation, conversion, bailment, and several copyright violations. Other matters: Immunomedics is also a party to various claims and litigation arising in the normal course of business, which includes some or all of certain of its patents. While it is not possible to determine the outcome of these matters, the Company believes that the resolution of all such matters will not have a material adverse effect on its consolidated financial position or liquidity, but could possibly be material to its consolidated results of operations in any one accounting period.

Summary of Significant Accoun17

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Principles of Consolidation and Presentation	Principles of Consolidation and Presentation The condensed consolidated financial statements include the accounts of Immunomedics and its subsidiaries. Noncontrolling interests in consolidated subsidiaries in the condensed consolidated balance sheets represent minority stockholders’ proportionate share of the equity (deficit) in such subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Financial Instruments	Financial Instruments The carrying amounts of cash and cash equivalents, other current assets and current liabilities approximate fair value due to the short-term maturity of these instruments. The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents.
Marketable Securities	Marketable Securities Immunomedics adopted Accounting Standards Codification No. 320, Accounting for Investments—Debt and Equity Securities Marketable securities, all of which are available-for-sale, consists of corporate debt securities, U.S. bonds, U.S. sponsored agencies and municipal bonds. Corporate debt securities include Eurodollar issues of U.S. corporations, and U.S. dollar denominated issues of foreign corporations. Marketable securities are carried at fair value, with unrealized gains and losses, net of related income taxes, reported as accumulated other comprehensive loss, except for losses from impairments which are determined to be other-than-temporary. Realized gains and losses, and declines in value judged to be other-than-temporary on available-for-sale securities are included in the determination of net loss and are included in interest and other income (net), at which time the average cost basis of these securities are adjusted to fair value. Fair values are based on quoted market prices at the reporting date. Interest and dividends on available-for-sale securities are included in interest and other income (net).
Inventory	Inventory Inventory, which consists only of the finished product of LeukoScan ®
Revenue Recognition	Revenue Recognition The Company has accounted for revenue arrangements that include multiple deliverables as a separate unit of accounting if both of the following criteria are met: a) the delivered item has value to the customer on a standalone basis, and b) if the right of return exists, delivery of the undelivered items is considered probable and substantially in the control of the vendor. If these criteria are not met, the revenue elements must be considered a single unit of accounting for purposes of revenue recognition. The Company allocates revenue consideration, excluding contingent consideration, based on the relative selling prices of the separate units of accounting contained within an arrangement containing multiple deliverables. Relative selling prices are determined using vendor specific objective evidence, if it exists; otherwise third-party evidence or the Company’s best estimate of selling price is used for each deliverable. Payments received under contracts to fund certain research activities are recognized as revenue in the period in which the research activities are performed. Payments received in advance that are related to future performance are deferred and recognized as revenue when the research projects are performed. Upfront nonrefundable fees associated with license and development agreements where the Company has continuing involvement in the agreement are recorded as deferred revenue and recognized over the estimated service period. The Company estimates the period of continuing involvement based on the best evidential matter available at each reporting period. If the estimated service period is subsequently modified, the period over which the upfront fee is recognized is modified accordingly on a prospective basis. In order to determine the revenue recognition for contingent milestones, the Company evaluates the contingent milestones using the criteria as provided by the Financial Accounting Standards Boards (“FASB”) guidance on the milestone method of revenue recognition, as explained in ASU 2010-17, “ Milestone Method of Revenue Recognition,” Revenue from the sale of diagnostic products is recorded when there is persuasive evidence that an arrangement exists, delivery has occurred, the price is fixed and determinable or collectability is reasonably assured. Allowances, if any, are established for uncollectible amounts, estimated product returns and discounts. Since allowances are recorded based on management’s estimates, actual amounts may be different in the future.
Research and Development Costs	Research and Development Costs Research and development costs are expensed as incurred. Costs incurred for clinical trials for patients and investigators are expensed as services are performed in accordance with the agreements in place with their clinical sites.
Reimbursement of Research & Development Costs	Reimbursement of Research & Development Costs Research and development costs that are reimbursable under collaboration agreements are included as a reduction of research and development expenses. The Company records these reimbursements as a reduction of research and development expenses as the Company’s partner in the collaboration agreement has the financial risks and responsibility for conducting these research and development activities.
Stock-Based Compensation	Stock-Based Compensation The Company utilizes stock-based compensation in the form of stock options, stock appreciation rights, stock awards, stock unit awards, performance shares, cash-based performance units and other stock-based awards, each of which may be granted separately or in tandem with other awards. The grant-date fair value of stock awards is based upon the underlying price of the stock on the date of grant. The grant-date fair value of stock option awards must be determined using an option pricing model. Option pricing models require the use of estimates and assumptions as to (a) the expected term of the option, (b) the expected volatility of the price of the underlying stock and (c) the risk-free interest rate for the expected term of the option. The Company uses the Black-Scholes-Merton option pricing formula for determining the grant-date fair value of such awards. The expected term of the option is based upon the contractual term and expected employee exercise and expected post-vesting employment termination behavior. The expected volatility of the price of the underlying stock is based upon the historical volatility of the Company’s stock computed over a period of time equal to the expected term of the option. The risk free interest rate is based upon the implied yields currently available from the U.S. Treasury yield curve in effect at the time of the grant. Pre-vesting forfeiture rates are estimated based upon past voluntary termination behavior and past option forfeitures. The following table sets forth the weighted-average assumptions used to calculate the fair value of options granted for the three-month periods ended September 30, 2015 and 2014: Three-Month Period Ended September 30, 2015 2014 Expected dividend yield 0% 0 % Expected option term (years) 5.03 5.07 Expected stock price volatility 56% 61 % Risk-free interest rate 1.51% - 1.61% 1.60 % The Company uses historical data to estimate forfeitures. The expected term of options granted represents the period of time that options granted are expected to be outstanding. Expected stock price volatility was calculated based on the Company’s daily stock trading history. The risk-free rate for periods within the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of grant. Changes in any of these assumptions could impact, potentially materially, the amount of expense recorded in future periods related to stock-based awards.
Income Taxes	Income Taxes The Company uses the asset and liability method to account for income taxes, including the recognition of deferred tax assets and deferred tax liabilities for the anticipated future tax consequences attributable to differences between financial statement amounts and their respective tax bases. The Company reviews its deferred tax assets for recovery. A valuation allowance is established when the Company believes that it is more likely than not that its deferred tax assets will not be realized. Changes in valuation allowances from period to period are included in the Company’s tax provision in the period of change. The Company has recorded a full valuation allowance against its net deferred tax assets as of September 30, 2015. At June 30, 2015, the Company has available net operating loss carry forwards for federal income tax reporting purposes of approximately $231.0 million and for state income tax reporting purposes of approximately $103.4 million, which expire at various dates between fiscal 2016 and 2035. Pursuant to Section 382 of the Internal Revenue Code of 1986, as amended, the annual utilization of a company’s net operating loss and research credit carry forwards may be limited if the Company experiences a change in ownership as defined in Section 382 of the Internal Revenue Code. The Company’s net operating loss carry forwards available to offset future federal taxable income arising before such ownership changes may be limited. Similarly, the Company may be restricted in using its research credit carry forwards arising before such ownership changes to offset future federal income tax expense. The majority-owned subsidiary of the Company (IBC Pharmaceuticals, Inc.) is currently under examination by the Internal Revenue Service for the fiscal year ended December 31, 2013. Income taxes were provided for profitable foreign jurisdictions at the estimated annual tax rate during the three-month periods ended September 30, 2015 and 2014. The Company’s U.S. operations reported a net loss for the three-month periods ended September 30, 2015 and 2014, resulting in a tax benefit that was fully offset by a valuation allowance. The Company has no liability for uncertain tax positions as of September 30, 2015.
Net Loss Per Share Allocable to Common Stockholders	Net Loss Per Share Allocable to Common Stockholders Net loss per basic and diluted common share allocable to common stockholders is based on the net loss for the relevant period, divided by the weighted-average number of common shares outstanding during the period. For purposes of the diluted net loss per common share calculations, the exercise or conversion of all potential common shares is not included because their effect would have been anti-dilutive, due to the net loss recorded for the three month periods ended September 30, 2015 and 2014. The common stock equivalents excluded from the diluted per share calculation are 27,839,015 and 7,461,763 shares at September 30, 2015 and 2014, respectively.
Net Comprehensive Loss	Net Comprehensive Loss Net comprehensive loss consists of net loss, unrealized gain (loss) on available for sale securities and foreign exchange translation adjustments and is presented in the condensed consolidated statements of comprehensive loss.
Reclassification	Reclassification Certain prior period balances have been reclassified to conform to the current period presentation.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In August 2014, the FASB issued ASU 2014-15, “ Presentation of Financial Statements – Going Concern: Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern On May 28, 2014, the FASB issued ASU 2014-09, “ Revenue from Contracts with Customers

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Schedule of Options Weighted-Average Assumptions	The following table sets forth the weighted-average assumptions used to calculate the fair value of options granted for the three-month periods ended September 30, 2015 and 2014: Three-Month Period Ended September 30, 2015 2014 Expected dividend yield 0% 0 % Expected option term (years) 5.03 5.07 Expected stock price volatility 56% 61 % Risk-free interest rate 1.51% - 1.61% 1.60 %

Marketable Securities (Tables)

Marketable Securities (Tables)	3 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Components of Marketable Securities	Marketable securities at September 30, 2015 consisted of the following (in thousands): Amortized Gross Gross Fair Value September 30, 2015 U.S. Treasury Bonds $ 10,659 $ 14 $ — $ 10,673 Certificate of Deposits 8,000 4 — 8,004 U.S. Government Sponsored Agencies 33,300 34 (1 ) 33,333 Corporate Debt Securities 21,699 4 (10 ) 21,693 $ 73,658 $ 56 $ (11 ) $ 73,703 Marketable securities at June 30, 2015 consisted of the following (in thousands): Amortized Gross Gross Fair Value June 30, 2015 U.S. Treasury Bonds $ 13,375 $ 14 $ — $ 13,389 Certificate of Deposits 6,000 4 — 6,004 U.S. Government Sponsored Agencies 40,694 30 (9 ) 40,715 Corporate Debt Securities 26,085 2 (29 ) 26,058 $ 86,154 $ 50 $ (38 ) $ 86,166
Maturities of Debt Securities Classified as Available-for-Sale	Maturities of debt securities classified as available-for-sale were as follows at September 30, 2015 (in thousands): Fair Value Net Carrying Due within one year $ 48,271 $ 48,436 Due after one year through five years 25,432 25,597 $ 73,703 $ 74,033 Maturities of debt securities classified as available-for-sale were as follows at June 30, 2015 (in thousands): Fair Value Net Carrying Due within one year $ 46,516 $ 46,646 Due after one year through five years 39,650 39,831 $ 86,166 $ 86,477

Estimated Fair Value of Finan20

Estimated Fair Value of Financial Instruments (Tables)	3 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Financial Instruments Recorded on Condensed Consolidated Balance Sheets	Financial instruments recorded on the condensed consolidated balance sheets as of September 30, 2015 and June 30, 2015 are categorized based on the inputs to the valuation techniques as follows (in thousands): • Level 1 • Level 2 • Level 3 Cash equivalents and marketable securities: ($ in thousands) September 30, 2015 Level 1 Level 2 Level 3 Total Money Market Funds $ 8,702 $ — $ — $ 8,702 Marketable Securities: U.S. Treasury Bonds 10,673 — — 10,673 Certificate of Deposits 8,004 — — 8,004 U.S. Government Sponsored Agencies 33,333 — — 33,333 Corporate Debt Securities 21,693 — — 21,693 Total $ 82,405 $ — $ — $ 82,405 ($ in thousands) June 30, 2015 Level 1 Level 2 Level 3 Total Money Market Funds $ 10,138 $ — $ — $ 10,138 Marketable Securities: U.S. Treasury Bonds 13,389 — — 13,389 Certificate of Deposits 6,004 — — 6,004 U.S. Government Sponsored Agencies 40,715 — — 40,715 Corporate Debt Securities 26,058 — — 26,058 Total $ 96,304 $ — $ — $ 96,304
Schedule of Carrying Amounts and Estimated Fair Values (Level 2) of Debt Instruments	The carrying amounts and estimated fair values (Level 2) of debt instruments are as follows (in thousands): As of September 30, 2015 As of June 30, 2015 Carrying Estimated Carrying Estimated Convertible Senior Notes $ 96,807 $ 70,610 $ 96,625 $ 103,800

Accumulated Other Comprehensi21

Accumulated Other Comprehensive (Loss) Income (Tables)	3 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Components of Accumulated Other Comprehensive (Loss) Income	The components of accumulated other comprehensive (loss) income were as follows: Currency Net for-Sale Accumulated Balance, July 1, 2015 $ (172,693 ) $ 11,601 $ (161,092 ) Other comprehensive income before reclassifications 17,468 35,541 53,009 Amounts reclassified from accumulated other comprehensive income (a) — (1,844 ) (1,844 ) Net current-period other comprehensive income 17,468 33,697 51,165 Balance, September 30, 2015 $ (155,225 ) $ 45,298 $ (109,927 ) Balance, July 1, 2014 $ 261,924 $ (87 ) $ 261,837 Other comprehensive (loss) income before reclassifications (178,130 ) 2,763 (175,367 ) Amounts reclassified from accumulated other comprehensive (loss) income (a) — (7,215 ) (7,215 ) Net current-period other comprehensive loss (178,130 ) (4,452 ) (182,582 ) Balance, September 30, 2014 $ 83,794 $ (4,539 ) $ 79,255 (a) For the three-month periods ended September 30, 2015 and 2014, $1,844 and $7,215 was reclassified from accumulated other comprehensive income to interest and other income, respectively.

Stock Incentive Plan (Tables)

Stock Incentive Plan (Tables)	3 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Options	Information concerning options for the three-month period ended September 30, 2015 is summarized as follows: Shares Weighted Weighted Aggregate (in 000’s) Outstanding, July 1, 2015 4,525,340 $ 3.48 Granted 484,147 $ 1.78 Exercised (53,250 ) $ 2.67 Cancelled or forfeited (3,500 ) $ 4.09 Outstanding, September 30, 2015 4,952,737 $ 3.32 3.72 $ 4,550 Exercisable, September 30, 2015 3,285,794 $ 3.29 2.57 $ 4,550
Non-Vested Restricted and Performance Stock Units	A summary of the Company’s non-vested restricted and performance stock units at September 30, 2015, and changes during the three-month period ended September 30, 2015 are presented below: Outstanding Non-Vested Restricted and Performance Stock Units Number of Weighted-Average Grant Date Non-vested at July 1, 2015 706,881 $ 4.30 Restricted Units Granted (a) 214,205 $ 1.76 Restricted Units Granted – vesting based on certain market conditions (b) 1,500,000 $ 2.28 (c) Vested/Exercised (118,168 ) $ 3.78 Non-vested at September 30, 2015 2,302,918 $ 2.78 (a) For the three-month period ended September 30, 2015, 198,864 restricted stock units were awarded to the Company’s President and Chief Executive Officer and 15,341 restricted stock units were awarded to the Company’s Chief Financial Officer. (b) For the three-month period ended September 30, 2015, 1,500,000 restricted stock units were awarded to the Company’s Chairman, Chief Scientific Officer and Chief Patent Officer. (c) Represents fair value on date of grant determined by using Monte Carlo simulation technique.

Geographic Segments (Tables)

Geographic Segments (Tables)	3 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Financial Information Based on Geographic Location of Facilities	The following table presents financial information based on the geographic location of the facilities of Immunomedics as of and for the three-months ended September 30, 2015 and 2014 ($ in thousands): As of and for the three-months ended September 30, 2015 United Europe Total Total assets $ 89,852 $ 1,939 $ 91,791 Property and equipment, net 2,756 8 2,764 Revenues 150 581 731 (Loss) income before income tax expense (15,427 ) 30 (15,397 ) As of and for the three-months ended September 30, 2014 United Europe Total Total assets $ 35,017 $ 2,799 $ 37,816 Property and equipment, net 2,086 — 2,086 Revenues 368 704 1,072 (Loss) income before income tax expense (12,455 ) 24 (12,431 )

Business Overview and Basis o24

Business Overview and Basis of Presentation - Additional Information (Detail)	3 Months Ended
	Sep. 30, 2015USD ($)Subsidiary	Sep. 30, 2014USD ($)
Accounting Policies [Abstract]
Number of subsidiaries | Subsidiary	2
Cash, cash equivalents and marketable securities	$ 85,500,000
Cash, cash equivalents and marketable securities utilized in operating activities	$ 13,349,467	$ 9,106,898

Summary of Significant Accoun25

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	Sep. 30, 2015	Jun. 30, 2015	Sep. 30, 2014	Sep. 30, 2015
Significant Accounting Policies [Line Items]
Highly liquid investments, original maturity period				3 months
Operating loss carry forwards for federal income tax		$ 231,000,000
Operating loss carry forwards for state income tax		$ 103,400,000
Liability for uncertain tax positions	$ 0			$ 0
Common stock equivalents excluded from the diluted per share calculation	27,839,015		7,461,763
Minimum [Member]
Significant Accounting Policies [Line Items]
Net operating loss carry forwards expiration year		2,016
Maximum [Member]
Significant Accounting Policies [Line Items]
Net operating loss carry forwards expiration year		2,035

Summary of Significant Accoun26

Summary of Significant Accounting Policies - Schedule of Options Weighted-Average Assumptions (Detail)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected dividend yield	0.00%	0.00%
Expected option term (years)	5 years 11 days	5 years 26 days
Expected stock price volatility	56.00%	61.00%
Risk-free interest rate		1.60%
Risk-free interest rate, minimum	1.51%
Risk-free interest rate, maximum	1.61%

Marketable Securities - Compone

Marketable Securities - Components of Marketable Securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 73,658	$ 86,154
Gross Unrealized Gain	56	50
Gross Unrealized (Loss)	(11)	(38)
Fair Value	73,703	86,166
Certificates of Deposits [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	8,000	6,000
Gross Unrealized Gain	4	4
Fair Value	8,004	6,004
U.S. Treasury Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	10,659	13,375
Gross Unrealized Gain	14	14
Fair Value	10,673	13,389
U.S. Government Sponsored Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	33,300	40,694
Gross Unrealized Gain	34	30
Gross Unrealized (Loss)	(1)	(9)
Fair Value	33,333	40,715
Corporate Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	21,699	26,085
Gross Unrealized Gain	4	2
Gross Unrealized (Loss)	(10)	(29)
Fair Value	$ 21,693	$ 26,058

Marketable Securities - Maturit

Marketable Securities - Maturities of Debt Securities Classified as Available-for-Sale (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Fair Value, Due within one year	$ 48,271	$ 46,516
Fair Value, Due after one year through five years	25,432	39,650
Fair Value	73,703	86,166
Net Carrying Amount, Due within one year	48,436	46,646
Net Carrying Amount, Due after one year through five years	25,597	39,831
Net Carrying Amount	$ 74,033	$ 86,477

Convertible Senior Notes - Addi

Convertible Senior Notes - Additional Information (Detail) $ / shares in Units, shares in Millions	1 Months Ended	3 Months Ended
	Feb. 28, 2015USD ($)$ / sharesshares	Sep. 30, 2015USD ($)
Debt Instrument [Line Items]
Amortization of debt issuance costs		$ 182,455
4.75% Convertible Senior Notes Due 2020 [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 100,000,000
Net proceeds from debt	96,300,000
Debt issuance costs	$ 3,700,000
Debt instrument, maturity date		Feb. 15, 2020
Frequency of interest payments		Interest at 4.75% will be payable semiannually on February 15 and August 15
Debt instrument, stated percentage	4.75%
Debt instrument, effective interest rate		5.48%
Number of shares issuable under conversion of debt | shares	19.6
Debt conversion ratio	195.8336
Conversion price of debt | $ / shares	$ 5.11
Convertible Senior Notes, terms of conversion		The conversion rate will initially be 195.8336 shares of common stock per $1,000 principal amount of Convertible Senior Notes (equivalent to an initial conversion price of approximately $5.11 per share of Immunomedics common stock)
Percentage of principal amount redeemable	100.00%
Interest expense		$ 1,400,000
Amortization of debt issuance costs		$ 200,000

Estimated Fair Value of Finan30

Estimated Fair Value of Financial Instruments - Financial Instruments Recorded on Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	$ 82,405	$ 96,304
Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	8,702	10,138
U.S. Treasury Bonds [Member] | Marketable Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	10,673	13,389
Certificates of Deposits [Member] | Marketable Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	8,004	6,004
U.S. Government Sponsored Agencies [Member] | Marketable Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	33,333	40,715
Corporate Debt Securities [Member] | Marketable Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	21,693	26,058
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	82,405	96,304
Level 1 [Member] | Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	8,702	10,138
Level 1 [Member] | U.S. Treasury Bonds [Member] | Marketable Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	10,673	13,389
Level 1 [Member] | Certificates of Deposits [Member] | Marketable Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	8,004	6,004
Level 1 [Member] | U.S. Government Sponsored Agencies [Member] | Marketable Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	33,333	40,715
Level 1 [Member] | Corporate Debt Securities [Member] | Marketable Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	$ 21,693	$ 26,058

Estimated Fair Value of Finan31

Estimated Fair Value of Financial Instruments - Schedule of Carrying Amounts and Estimated Fair Values (Level 2) of Debt Instruments (Detail) - Level 2 [Member] - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible Senior Notes	$ 96,807	$ 96,625
Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible Senior Notes	$ 70,610	$ 103,800

Accumulated Other Comprehensi32

Accumulated Other Comprehensive (Loss) Income - Components of Accumulated Other Comprehensive (Loss) Income (Detail) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning, Balance	$ (161,092)	$ 261,837
Other comprehensive (loss) income before reclassifications	53,009	(175,367)
Amounts reclassified from accumulated other comprehensive (loss) income	(1,844)	(7,215)
Other comprehensive income (loss)	51,165	(182,582)
Ending, Balance	(109,927)	79,255
Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning, Balance	(172,693)	261,924
Other comprehensive (loss) income before reclassifications	17,468	(178,130)
Other comprehensive income (loss)	17,468	(178,130)
Ending, Balance	(155,225)	83,794
Net Unrealized Gains (Losses) on Available-for-Sale Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning, Balance	11,601	(87)
Other comprehensive (loss) income before reclassifications	35,541	2,763
Amounts reclassified from accumulated other comprehensive (loss) income	(1,844)	(7,215)
Other comprehensive income (loss)	33,697	(4,452)
Ending, Balance	$ 45,298	$ (4,539)

Accumulated Other Comprehensi33

Accumulated Other Comprehensive (Loss) Income - Components of Accumulated Other Comprehensive (Loss) Income (Parenthetical) (Detail) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassified from accumulated other comprehensive income	$ 91,958	$ 25,072
Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassified from accumulated other comprehensive income	$ 1,844	$ 7,215

Stock Incentive Plan - Addition

Stock Incentive Plan - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Sep. 30, 2015	Jul. 14, 2015	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2014	Aug. 20, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock vesting period			4 years
Contractual terms of stock option			7 year
Common stock reserved for possible future issuance upon exercise of stock options	17,179,911		17,179,911
Stock options available for future grants	7,255,655		7,255,655
Performance Units available for grant	9,924,256		9,924,256
Options granted, weighted average grant date fair value			$ 0.87	$ 1.75
Non-vested options outstanding	3,969,861		3,969,861
Unrecognized compensation costs related to non-vested share-based compensation	$ 3,200		$ 7,800
Weighted-average period recognized	2 years 9 months 18 days		2 years 8 months 23 days
Performance Units, awarded			118,168
Goldenberg Agreement [Member] | Employment Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Agreement date			Jul. 1, 2015
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation			$ 45	$ 45
Performance units granted in period			214,205
Restricted Stock [Member] | Non-Employee Board [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Value of shares to be granted for non-employee Board members			$ 45
Performance Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Units available for grant					389,864
Unrecognized compensation costs related to non-vested share-based compensation	$ 400
Weighted-average period recognized	2 years 2 months 12 days
Stock-based compensation			$ 100	32
Performance units granted in period	253,412
Performance Units, awarded					116,959
Performance Units [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock vesting period			5 years
Performance Unit Grant [Member] | Goldenberg Agreement [Member] | Employment Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense related stock options			$ 200
Restricted Units Vesting Based on Certain Market Conditions [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance units granted in period			1,500,000
Restricted Units Vesting Based on Certain Market Conditions [Member] | Goldenberg Agreement [Member] | Employment Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock vesting period		3 years
Performance units granted in period		1,500,000
Board Members [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual terms of stock option			7 year
Employees, Executive Officers and Non-Employee Board Members [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense related stock options			$ 900	600
Executive Officers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs related to non-vested share-based compensation			$ 1,400
Weighted-average period recognized			2 years 8 months 12 days
Restricted stock units	19,493		19,493			214,205
Restricted stock units, closing price						$ 1.76
Executive Officers [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock vesting period			4 years
Stock-based compensation expense related stock options			$ 200	$ 200

Stock Incentive Plan - Summary

Stock Incentive Plan - Summary of Options (Detail) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2015USD ($)$ / sharesshares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of Shares, Options outstanding, beginning of year | shares	4,525,340
Number of Shares, Options granted | shares	484,147
Number of Shares, Options exercised | shares	(53,250)
Number of Shares, Options cancelled or forfeited | shares	(3,500)
Number of Shares, Options outstanding, end of year | shares	4,952,737
Number of Shares, Options exercisable, end of year | shares	3,285,794
Weighted Average Exercise Price, Options outstanding, beginning of year	$ 3.48
Weighted Average Exercise Price, Options granted	1.78
Weighted Average Exercise Price, Options exercised	2.67
Weighted Average Exercise Price, Options cancelled or forfeited	4.09
Weighted Average Exercise Price, Options outstanding, end of year	3.32
Weighted Average Exercise Price, Options exercisable, end of year	$ 3.29
Weighted Average Remaining Contractual Life of outstanding stock options	3 years 8 months 19 days
Weighted Average Remaining Contractual Life of exercisable stock options	2 years 6 months 26 days
Aggregate Intrinsic Value of outstanding stock options | $	$ 4,550
Aggregate Intrinsic Value of exercisable stock options | $	$ 4,550

Stock Incentive Plan - Non-Vest

Stock Incentive Plan - Non-Vested Restricted and Performance Stock Units (Detail)	3 Months Ended
	Sep. 30, 2015$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested at July 1, 2015 | shares	706,881
Vested/Exercised | shares	(118,168)
Non-vested at September 30, 2015 | shares	2,302,918
Non-vested, Weighted-Average per Share of Market Value on Grant Date, Beginning balance	$ 4.30
Vested/Exercised, Weighted-Average per Share of Market Value on Grant Date	3.78
Non-vested, Weighted-Average per Share of Market Value on Grant Date, Ending balance	$ 2.78
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted | shares	214,205
Non-vested, Weighted-Average per Share of Market Value on Grant Date	$ 1.76
Restricted Units Vesting Based on Certain Market Conditions [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted | shares	1,500,000
Non-vested, Weighted-Average per Share of Market Value on Grant Date	$ 2.28

Stock Incentive Plan - Non-Ve37

Stock Incentive Plan - Non-Vested Restricted and Performance Stock Units (Parenthetical) (Detail)	3 Months Ended
	Sep. 30, 2015shares
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units awarded	214,205
Restricted Units Vesting Based on Certain Market Conditions [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units awarded	1,500,000
President and Chief Executive Officer [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units awarded	198,864
Chief Financial Officer [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units awarded	15,341
Chairman, Chief Scientific Officer and Chief Patent Officer [Member] | Restricted Units Vesting Based on Certain Market Conditions [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units awarded	1,500,000

Geographic Segments - Financial

Geographic Segments - Financial Information Based on Geographic Location of Facilities (Detail) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015
Segment Reporting Information [Line Items]
Total assets	$ 91,791,116	$ 37,816,000	$ 105,779,606
Property and equipment, net	2,763,914	2,086,000	$ 2,241,838
Revenues	730,878	1,071,998
(Loss) income before income tax expense	(15,396,789)	(12,430,799)
United States [Member]
Segment Reporting Information [Line Items]
Total assets	89,852,000	35,017,000
Property and equipment, net	2,756,000	2,086,000
Revenues	150,000	368,000
(Loss) income before income tax expense	(15,427,000)	(12,455,000)
Europe [Member]
Segment Reporting Information [Line Items]
Total assets	1,939,000	2,799,000
Property and equipment, net	8,000
Revenues	581,000	704,000
(Loss) income before income tax expense	$ 30,000	$ 24,000

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Center for Molecular Medicine and Immunology [Member]
Related Party Transaction [Line Items]
Legal expenses incurred by the company	$ 9	$ 10
Goldenberg Agreement [Member]
Related Party Transaction [Line Items]
Compensation received for services	$ 22	$ 21

License and Collaboration Agr40

License and Collaboration Agreements - Additional Information (Detail) - USD ($)	Dec. 27, 2011	Jan. 31, 2015	Jan. 31, 2012	Sep. 30, 2015	Jun. 30, 2015
Guarantor Obligations [Line Items]
License fee and other revenues				$ 10,825
Duration of warrant issued	5 years
Number of shares under five year warrant	1,000,000
Shares to be purchased under warrant, par value	$ 0.01			$ 0.01	$ 0.01
Shares to be purchased under warrant, exercise price	$ 8
Non-refundable cash payment received			$ 30,000,000
The Bayer Group (formerly Algeta ASA) [Member]
Guarantor Obligations [Line Items]
Collaboration agreement date				2,013
Upfront cash payment and other payments received under collaboration agreement				$ 6,000,000
License fee and other revenues		$ 300,000			$ 1,000,000
License costs payment period		2 years
UCB Agreement [Member]
Guarantor Obligations [Line Items]
License agreement date				May 9, 2006
Amendment agreement date				Dec. 27, 2011
Product royalties term, description				The Company is also entitled to product royalties ranging from a mid-teen to mid-twenty percentage of aggregate annual net sales under the UCB Agreement and Amendment Agreement during the product royalty term, (subject to reduction in certain circumstances).
Clinical trial study, description				On July 28, 2015, UCB announced that the two Phase 3 EMBODY clinical trials for epratuzumab in SLE did not meet the primary clinical efficacy endpoints in either dose in both studies.
Termination period				60 days
Agreement expiration period				30 days
Additional amounts payable after effective date of termination				$ 0
UCB Agreement [Member] | Maximum [Member]
Guarantor Obligations [Line Items]
Cash payment receivable				130,000,000
Equity investments receivable				20,000,000
Achievement of specified product sales milestones				$ 260,000,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	Jul. 14, 2015shares	Sep. 30, 2015USD ($)shares	Jun. 30, 2014Complaints
Guarantor Obligations [Line Items]
Stock vesting period		4 years
Number of shareholder derivative complaints | Complaints			2
Nycomed Agreement [Member]
Guarantor Obligations [Line Items]
Agreement termination date		Oct. 9, 2013
Restricted Units Vesting Based on Certain Market Conditions [Member]
Guarantor Obligations [Line Items]
Restricted stock units granted in period		1,500,000
Restricted Units Vesting Based on Certain Market Conditions [Member] | 2014 Long Term Incentive Plan [Member]
Guarantor Obligations [Line Items]
Restricted stock units granted in period	1,500,000
Stock vesting period	3 years
Employment Agreement [Member] | Goldenberg Agreement [Member]
Guarantor Obligations [Line Items]
Agreement date		Jul. 1, 2015
Annual base salary | $		$ 0.6
Percentage of annual bonus target		50.00%
Employment Agreement [Member] | Goldenberg Agreement [Member] | Maximum [Member]
Guarantor Obligations [Line Items]
Agreement termination date		Jul. 1, 2020
Percentage of potential payout target		150.00%
Employment Agreement [Member] | Goldenberg Agreement [Member] | Minimum [Member]
Guarantor Obligations [Line Items]
Percentage of potential payout target		0.00%
Employment Agreement [Member] | Goldenberg Agreement [Member] | Chairman of Board, Chief Scientific Officer and Chief Patent Officer [Member]
Guarantor Obligations [Line Items]
Agreement date		Jul. 1, 2015
Employment Agreement [Member] | Sullivan Agreement [Member]
Guarantor Obligations [Line Items]
Agreement date		Jul. 1, 2014
Agreement termination date		Jun. 30, 2017
Annual base salary | $		$ 0.6
Percentage of annual bonus target		50.00%
Employment Agreement [Member] | Sullivan Agreement [Member] | Maximum [Member]
Guarantor Obligations [Line Items]
Percentage of potential payout target		150.00%
Employment Agreement [Member] | Sullivan Agreement [Member] | Minimum [Member]
Guarantor Obligations [Line Items]
Percentage of potential payout target		0.00%
Employment Agreement [Member] | Restricted Units Vesting Based on Certain Market Conditions [Member] | Goldenberg Agreement [Member]
Guarantor Obligations [Line Items]
Restricted stock units granted in period	1,500,000
Stock vesting period	3 years
Third Lawsuit [Member]
Guarantor Obligations [Line Items]
Lawsuit filing date		February 27, 2014
First Lawsuit [Member]
Guarantor Obligations [Line Items]
Lawsuit filing date		March 24, 2014
Second Lawsuit [Member]
Guarantor Obligations [Line Items]
Lawsuit filing date		April 18, 2014