Document:

EX-10.4

 Exhibit 10.4 

EXECUTION VERSION 
 STOCK
PURCHASE AGREEMENT 
 This Stock Purchase Agreement (this “Agreement”) is dated as of February 10, 2017 (the
“Effective Date”), by and between Immunomedics, Inc., a Delaware corporation (the “Company”), and Seattle Genetics, Inc., a Delaware corporation (together with any valid assignees of its rights hereunder pursuant to
Section 5.6, the “Purchaser”). 
 WHEREAS, subject to the terms and conditions set forth in this Agreement and
pursuant to Section 4(2) of the Securities Act of 1933, as amended (the “Securities Act”), and Rule 506 promulgated thereunder, the Company desires to issue and sell to the Purchaser, and the Purchaser desires to purchase from
the Company, shares of common stock of the Company. 
 NOW, THEREFORE, in consideration of the mutual covenants contained in this Agreement,
and for other good and valuable consideration the receipt and adequacy of which are hereby acknowledged, the Company and the Purchaser agree as follows: 

ARTICLE I 
 DEFINITIONS

 1.1 Definitions. In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the
following terms have the meanings set forth in this Section 1.1: 
 “Affiliate” means, with respect to any Person, any
other Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with such Person as such terms are used in and construed under Rule 405 under the Securities Act. With respect to a
Purchaser, any investment fund or managed account that is managed on a discretionary basis by the same investment manager as such Purchaser will be deemed to be an Affiliate of such Purchaser. 

“Board of Directors” means the board of directors of the Company. 

“Business Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States
or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close. 

“Closing” means the closing of the purchase and sale of the Shares pursuant to Section 2.1. 

“Closing Date” means the Trading Day when all of the Transaction Documents have been executed and delivered by the applicable
parties thereto, and all conditions precedent to (i) the Purchaser’s obligations to pay the Subscription Amount and (ii) the Company’s obligation to deliver the Shares has been satisfied or waived. 

“Commission” means the Securities and Exchange Commission. 

 “Common Stock” means the common stock of the Company, par value $0.01 per share,
and any other class of securities into which such securities may hereafter be reclassified or changed into. 
 “Common Stock
Equivalents” means any securities of the Company or its subsidiaries which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, rights, options, warrants or other
instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock. 

“Data Room” means the on-line “virtual data room” set up in connection with
this Agreement (and prior to the date hereof) to allow the Purchaser to review diligence materials provided by the Company. 

“Disqualification Events” shall have the meaning ascribed to such term in Section 3.1(o). 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 “FCPA” means the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder. 

“GAAP” shall have the meaning ascribed to such term in Section 3.1(g). 

“Governmental Entity” means any: (i) federal, state, local, municipal, foreign or other government;
(ii) governmental, quasi-governmental, supranational or regulatory authority (including any governmental division, department, agency, commission, instrumentality, organization, unit or body and any court or other tribunal); or
(iii) self-regulatory organization (including the Nasdaq Stock Market). 
 “Liens” means a lien, charge, security
interest, encumbrance, hypothecation, right of first refusal, preemptive right or other restriction. 
 “Material Adverse
Effect” means any circumstance, development, effect, change, event, occurrence or state of facts that, individually or in the aggregate, has had or would reasonably be expected to have a material adverse effect on (i) the legality,
validity or enforceability of any Transaction Document, (ii) the results of operations, assets, business or financial condition of the Company and its subsidiaries, taken as a whole, or (iii) the Company’s and its subsidiaries’
ability to perform in any material respect on a timely basis their respective obligations under any Transaction Document. 

“OFAC” means the Office of Foreign Assets Control of the U.S. Treasury Department. 

“Outside Date” shall have the meaning ascribed to such term in Section 2.2(c). 

  
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 “Person” means an individual or corporation, partnership, trust, incorporated or
unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind. 

“Proceeding” means an action, claim, suit, investigation or proceeding (including, without limitation, an informal
investigation or partial proceeding, such as a deposition), whether commenced or threatened. 
 “Registration Rights
Agreement” means the registration rights agreement, executed concurrently with this Agreement, between the Company and the Purchaser, in the form attached hereto as Exhibit A. “Registration Rights Agreement” shall
also include the registration rights agreement as amended, modified or supplemented from time to time in accordance with its terms. 

“Required Filings” shall have the meaning ascribed to such term in Section 3.1(d). 

“Rule 144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time
to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

“Sarbanes-Oxley Act” means the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated thereunder or
implementing the provisions thereof. 
 “SEC Reports” shall have the meaning ascribed to such term in Section 3.1(g).

 “Securities Act” shall have the meaning ascribed to such term in the Recitals hereto. 

“Shares” means the shares of Common Stock issued or issuable to the Purchaser pursuant to this Agreement. 

“Short Sales” means all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act (but shall
not be deemed to include the location and/or reservation of borrowable shares of Common Stock). 
 “Solicitor” shall have
the meaning ascribed to such term in Section 3.1(o). 
 “Subscription Amount” means $14,691,930. 

“Trading Day” means a day on which the Trading Market is open for trading. 

“Trading Market” means the Nasdaq Global Market. 

“Transaction Documents” means this Agreement, the Registration Rights Agreement and any other documents or agreements
executed in connection with the transactions contemplated hereunder. 

  
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 “Transfer Agent” means Broadridge Corporate Issuer Solutions, Inc., the current
transfer agent of the Company, with a mailing address of Broadridge Corporate Issuer Solutions, P.O. Box 1342, Brentwood, NY 11717, telephone number of (877) 830-4936, facsimile number of (215) 553-5402 and e-mail of shareholder@broadridge.com, and any successor transfer agent of the Company. 

“Warrant” shall have the meaning ascribed to such term in Section 4.8(a). 

“Warrant Expiration Date” shall have the meaning ascribed to such term in Section 4.8(a). 

ARTICLE II 
 PURCHASE AND
SALE 
 2.1 Closing. On the Closing Date, upon the terms and subject to the conditions set forth herein, concurrent with the
execution and delivery of this Agreement by the parties hereto, the Company agrees to sell, and the Purchaser agrees to purchase in the aggregate three million (3,000,000) Shares. The Purchaser shall deliver to the Company, via wire transfer,
immediately available funds equal to the Subscription Amount, and the Company shall deliver to the Purchaser the Shares, and the Company and the Purchaser shall deliver the other items set forth in Section 2.2 at the Closing. Upon the
satisfaction of the covenants and conditions set forth in Sections 2.2 and 2.3, the Closing shall occur at the offices of DLA Piper LLP (US), 51 John F. Kennedy Parkway, Suite 120, Short Hills, New Jersey 07078, or such other location as the
parties shall mutually agree. 
 2.2 Deliveries. 

(a) On or prior to the Closing Date, the Company shall deliver or cause to be delivered to the Purchaser the following: 

(i) this Agreement duly executed by the Company; 

(ii) the Registration Rights Agreement duly executed by the Company; 

(iii) a copy of the irrevocable instructions to the Transfer Agent instructing the Transfer Agent to issue the Shares into
book entry; 
 (iv) a customary opinion of DLA Piper LLP (US), as counsel for the Company, to the Purchaser, dated as of the
Closing Date, in a form and substance reasonably acceptable to the Purchaser; 
 (v) a certificate of the Secretary of State
of Delaware certifying that the Company is duly incorporated under the laws of the State of Delaware and is in good standing and has a legal corporate existence so far as the records of the Secretary of State of Delaware show; 

  
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 (vi) a certificate of a duly authorized officer of the Company certifying that
all conditions precedent to the Purchaser’s obligations in connection with Closing have been fulfilled; and 
 (vii) a
certificate of the secretary of the Company certifying (A) the Company’s Second Amended and Restated By-Laws, (B) the Company’s Amended and Restated Certificate of Incorporation, as amended
and (C) the resolutions of the Board of Directors approving the Transaction Documents and the transactions contemplated hereby. 
 (b)
On or prior to the Closing Date, the Purchaser shall deliver or cause to be delivered to the Company the following: 
 (i)
this Agreement duly executed by the Purchaser; 
 (ii) the Registration Rights Agreement duly executed by the Purchaser; and

 (iii) a cash amount equal to the Subscription Amount by wire transfer to the account as specified in writing by the
Company. 
 (c) If the Purchaser provides the cash amount set forth in Section 2.2(b)(iii) prior to the Closing Date and the Closing
Date does not occur within one (1) Business Day following the receipt of such cash amount (the “Outside Date”), the Company shall return the full cash amount to the Purchaser within one (1) Business Day following the
Outside Date. The Company acknowledges that any cash amount received from the Purchaser prior to the Closing Date is property of the Purchaser and is being held in trust by the Company for the Purchaser until the occurrence of the Closing on the
Closing Date. 
 2.3 Closing Conditions. 

(a) The obligations of the Company hereunder in connection with the Closing are subject to the following conditions being met, unless
otherwise waived by the Company: 
 (i) the representations and warranties of the Purchaser contained herein shall be true
and correct as of the Closing Date; 
 (ii) all obligations, covenants and agreements of the Purchaser required to be
performed at or prior to the Closing Date shall have been performed; 
 (iii) the Development and License Agreement, dated
as of the date hereof, by and between the Purchaser and the Company (the “License Agreement”) shall have been executed by the Purchaser and the Company; and 

(iv) the Purchaser shall have delivered to the Company each of the items set forth in Section 2.2(b) of this Agreement.

 (b) The obligations of the Purchaser hereunder in connection with the Closing are subject to the following conditions being met, unless
otherwise waived by the Purchaser: 

  
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 (i) the representations and warranties of the Company contained herein shall be
true and correct as of the Closing Date; 
 (ii) all obligations, covenants and agreements of the Company required to be
performed at or prior to the Closing Date shall have been performed; 
 (iii) the License Agreement shall have been executed
by the Purchaser and the Company; and 
 (iv) the Company shall have delivered to the Purchaser each of the items set forth
in Section 2.2(a) of this Agreement. 
 ARTICLE III 

REPRESENTATIONS AND WARRANTIES 

3.1 Representations and Warranties of the Company. Except as set forth in the SEC Reports (but (i) without giving effect to any
amendment thereof filed with, or furnished to, the Commission on or after the date hereof and (ii) excluding any disclosures contained under the heading “Risk Factors” and any disclosure of risks included in any “forward-looking
statements” disclaimer or in any other section to the extent they are forward-looking statements or cautionary, predictive or forward-looking in nature) and the Data Room, which SEC Reports and Data Room shall be deemed a part hereof and shall
qualify any representation made herein, the Company hereby makes the following representations and warranties to the Purchaser: 
 (a)
Organization and Qualification. The Company and each of its subsidiaries is an entity duly incorporated or otherwise organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization (as
applicable), with the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted. Neither the Company nor any subsidiary is in violation or default of any of the provisions of its
respective certificate or articles of incorporation, by-laws or other organizational or charter documents. Each of the Company and its subsidiaries is duly qualified to conduct business and is in good standing
as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified or in good standing, as the case may
be, could not have or reasonably be expected to result in a Material Adverse Effect and no Proceeding has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such power and authority or
qualification, except where such Proceeding could not have or reasonably be expected to result in a Material Adverse Effect. 
 (b)
Authorization; Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by each of the Transaction Documents and otherwise to carry out its obligations under the
Transaction Documents. The execution and delivery of each of the Transaction Documents by the Company and the consummation by it of the transactions contemplated by the Transaction Documents have been duly authorized by all necessary action on the
part of the Company and no further action is required by the Company, the Board of Directors or the Company’s stockholders in connection therewith other than in connection with the Required Filings. Each Transaction Document has

  
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been (or upon delivery will have been) duly executed by the Company and, when delivered in accordance with the terms of the Transaction Documents, will constitute the valid and binding obligation
of the Company enforceable against the Company in accordance with its terms, except (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting
enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions
may be limited by applicable law. 
 (c) No Conflicts. The execution, delivery and performance of the Transaction Documents by the
Company, the issuance and sale of the Shares and the consummation by the Company of the other transactions contemplated by the Transaction Documents do not and will not (i) conflict with or violate any provision of the Company’s or any
subsidiary’s certificate or articles of incorporation, by-laws or other organizational or charter documents, or (ii) conflict with, or constitute a material default (or an event that with notice or
lapse of time or both would become a default) under, result in the creation of any Lien upon any of the properties or assets of the Company or any subsidiary, or give to others any rights of termination, amendment, acceleration or cancellation (with
or without notice, lapse of time or both) of, any material agreement, credit facility, debt or other instrument (evidencing a Company or subsidiary debt or otherwise) or other understanding to which the Company or any subsidiary is a party or by
which any property or asset of the Company or any subsidiary is bound or affected, or (iii) subject to the Required Filings, conflict with or result in a violation of any material law, rule, regulation, order, judgment, injunction, decree or
other restriction of any court or governmental authority to which the Company or a subsidiary is subject (including federal and state securities laws and regulations), or by which any property or asset of the Company or a subsidiary is bound or
affected. 
 (d) Filings, Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization or order
of, give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority or other Person in connection with the execution, delivery and performance by the Company of the Transaction
Documents, other than (i) filings required pursuant to Section 4.4 of this Agreement, and (ii) the filing of Form D with the Commission and such filings as are required to be made under applicable state securities laws (collectively,
the “Required Filings”). 
 (e) Issuance of the Shares. The Shares are duly authorized and, when issued and paid for
in accordance with the applicable Transaction Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company other than restrictions on transfer provided for in the Transaction Documents.

 (f) Capitalization. The capitalization of the Company is as set forth in the Company’s SEC Reports. The Company has not
issued any capital stock since its most recently filed periodic report under the Exchange Act, other than pursuant to the exercise of employee stock options under the Company’s stock option plan and pursuant to the conversion or exercise of
Common Stock Equivalents. No Person has any right of first refusal, preemptive right, right of participation, or any similar right to participate in the transactions contemplated by the Transaction Documents. Except as a result of the purchase and
sale of the Shares and except as 

  
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set forth in the SEC Reports, there are no outstanding options, warrants, scrip rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities, rights or
obligations convertible into or exercisable or exchangeable for, or giving any Person any right to subscribe for or acquire, any shares of Common Stock or preferred stock, or contracts, commitments, understandings or arrangements by which the
Company or any subsidiary is or may become bound to issue additional shares of Common Stock, Common Stock Equivalents, preferred stock or preferred stock equivalents. All of the outstanding shares and warrants of capital stock of the Company are
validly issued, fully paid and nonassessable, have been issued in compliance with all federal and state securities laws, and none of such outstanding shares or warrants was issued in violation of any preemptive rights or similar rights to subscribe
for or purchase securities. 
 (g) SEC Reports; Financial Statements. The Company has filed all reports, schedules, forms, statements
and other documents required to be filed by the Company under the Securities Act and the Exchange Act, including pursuant to Sections 13(a) and 15(d) thereof, for the three (3) years preceding the date hereof (or such shorter period as the
Company was required by law or regulation to file such material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein, being collectively referred to herein as the “SEC Reports”)
on a timely basis or has received a valid extension of such time of filing and has filed any such SEC Reports prior to the expiration of any such extension. As of their respective dates, the SEC Reports complied in all material respects with the
requirements of the Securities Act and the Exchange Act and the rules and regulations of the Commission promulgated thereunder, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state a material
fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The financial statements of the Company included in the SEC Reports comply in all
material respects with applicable accounting requirements and the rules and regulations of the Commission with respect thereto as in effect at the time of filing. Such financial statements have been prepared in accordance with United States
generally accepted accounting principles applied on a consistent basis during the periods involved (“GAAP”), except as may be otherwise specified in such financial statements or the notes thereto and except that unaudited financial
statements may not contain all footnotes required by GAAP, and fairly present in all material respects the financial position of the Company and its consolidated subsidiaries as of and for the dates thereof and the results of operations and cash
flows for the periods then ended, subject, in the case of unaudited statements, to normal, immaterial, year-end audit adjustments. 

(h) Material Changes; Undisclosed Events, Liabilities or Developments. Since the date of the latest audited financial statements
included within the SEC Reports, except as specifically disclosed in the SEC Reports, (i) there has been no event, occurrence or development that has had or that could reasonably be expected to result in a Material Adverse Effect, (ii) the
Company has not incurred any liabilities (contingent or otherwise) other than (A) trade payables and accrued expenses incurred in the ordinary course of business consistent with past practice and (B) liabilities not required to be
reflected in the Company’s financial statements pursuant to GAAP or required to be disclosed in filings made with the Commission, (iii) the Company has not made any changes to its accounting policies, (iv) the Company has not declared
or made any dividend or distribution of cash or other property to its stockholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital stock and (v) the Company has not issued any equity securities to
any officer, director or Affiliate, except pursuant to existing Company stock option plans. 
  

  
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 (i) Litigation. Except as disclosed in the SEC Reports and the Data Room, there is no
action, suit, inquiry, notice of violation, Proceeding or investigation pending or, to the knowledge of the Company, threatened against or affecting the Company, any subsidiary or any of their respective properties before or by any court,
arbitrator, governmental or administrative agency or regulatory authority (federal, state, county, local or foreign) which (i) adversely affects or challenges the legality, validity or enforceability of any of the Transaction Documents, the
Shares or (ii) could, if there were an unfavorable decision, have or reasonably be expected to result in a Material Adverse Effect. 

(j) Compliance. Neither the Company nor any subsidiary (i) is in default under or in violation of (and no event has occurred that
has not been waived that, with notice or lapse of time or both, would result in a default by the Company or any subsidiary under), nor has the Company or any subsidiary received notice of a claim that it is in default under or that it is in
violation of, any indenture, loan or credit agreement (or any documents related to the foregoing) or any other material agreement or material instrument to which it is a party or by which it or any of its properties is bound (whether or not such
default or violation has been waived), (ii) is in violation of any order of any court, arbitrator or governmental body, or (iii) is or has been in violation of any statute, rule or regulation of any governmental authority, including without
limitation all foreign, federal, state and local laws applicable to its business and all such laws that affect the environment, except in each case as could not have or reasonably be expected to result in a Material Adverse Effect. 

(k) Regulatory Permits. The Company and its subsidiaries possess all certificates, authorizations and permits issued by the appropriate
federal, state, local or foreign regulatory authorities necessary to conduct their respective businesses as described in the SEC Reports, except where the failure to possess such permits could not have or reasonably be expected to result in a
Material Adverse Effect, and neither the Company nor any subsidiary has received any notice of Proceedings relating to the revocation or modification of any material permit. 

(l) Private Placement. Assuming the accuracy of the Purchaser’s representations and warranties set forth in Section 3.2, no
registration under the Securities Act is required for the offer and sale of the Shares by the Company to the Purchaser as contemplated hereby. The issuance and sale of the Shares hereunder does not contravene the rules and regulations of the Trading
Market. 
 (m) Investment Company. The Company is not, and is not an Affiliate of, and immediately after receipt of payment for the
Shares, will not be or be an Affiliate of, an “investment company” within the meaning of the Investment Company Act of 1940, as amended. The Company shall conduct its business in a manner so that it will not become subject to the
Investment Company Act of 1940, as amended. 

  
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 (n) No General Solicitation. Neither the Company nor to its knowledge any person acting on
behalf of the Company has offered or sold any of the Shares by any form of general solicitation or general advertising. To the knowledge of the Company, no person acting on behalf of the Company has offered the Shares for sale other than to the
Purchaser and certain other “accredited investors” within the meaning of Rule 501 under the Securities Act. 
 (o) No
“Bad Actor” Disqualification. The Company has exercised reasonable care, in accordance with Commission rules and guidance, and has conducted a factual inquiry, including by the procurement of relevant
questionnaires from each Covered Person (as defined below) or other means, the nature and scope of which reflect reasonable care under the relevant facts and circumstances, to determine whether any Covered Person (as defined below) is subject to any
of the “bad actor” disqualifications described in Rule 506(d)(1)(i) to (viii) under the Securities Act (“Disqualification Events”). To the Company’s knowledge, after conducting such sufficiently diligent factual
inquiries, no Covered Person (as defined below) is subject to a Disqualification Event, except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3) under the Securities Act. The Company has complied, to the extent applicable, with any
disclosure obligations under Rule 506(e) under the Securities Act. “Covered Persons” are those persons specified in Rule 506(d)(1) under the Securities Act, including the Company, any predecessor or affiliate of the Company, any director,
executive officer, other officer participating in the offering, any beneficial owner of twenty percent (20%) or more of the Company’s outstanding voting equity securities, calculated on the basis of voting power, any promoter (as defined in
Rule 405 under the Securities Act) connected with the Company in any capacity at the time of the sale of the Shares, and any person that has been or will be paid (directly or indirectly) remuneration for solicitation of purchasers in connection with
the sale of the Shares (a “Solicitor”), any general partner or managing member of any Solicitor, and any director, executive officer or other officer participating in the offering of any Solicitor or general partner or managing
member of any Solicitor. 
 (p) Use of Proceeds. The Company will use the net proceeds from the sale of the Shares hereunder for
general working capital purposes (which shall not include any dividend or distribution). 
 (q) Compliance with Registration
Requirements. The Company meets the requirements for use of Form S-3 under the Securities Act and all of the currently outstanding Common Stock has been duly registered under the Securities Act. 

(r) Accounting and Disclosure Controls. The Company and its subsidiaries maintain and have established and maintained effective
“internal control over financial reporting” (as defined in Rule 13a-15 promulgated by the Commission pursuant to the Exchange Act). The Company and its subsidiaries maintain a system of internal
accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of
financial statements in conformity with GAAP and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for
assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. Except as described in the SEC Reports, there has not been (A) at any time during

  
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the Company’s five consecutive fiscal years ended with and including the Company’s most recent fiscal year or at any time subsequent thereto, any material weakness (as defined in Rule 1-02 of Regulation S-X of the Commission) in the Company’s internal control over financial reporting (whether or not remediated), or (B) any fraud, whether or not
material, involving management or other employees who have a role in the Company’s internal control over financial reporting and, since the Company’s most recent fiscal year end, there has been no change in the Company’s internal
control over financial reporting that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting. The Company and its subsidiaries have established, maintained and periodically
evaluate the effectiveness of “disclosure controls and procedures” (as defined in Rules 13a-15 and 15d-15 promulgated by the Commission pursuant to the
Exchange Act); such disclosure controls and procedures are designed to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act and the interactive data in eXtensible Business
Reporting Language included as an exhibit to the SEC Reports or incorporated by reference in any SEC Reports are recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms, and is
accumulated and communicated to the Company’s management, including its principal executive officer or officers and principal financial officer or officers, as appropriate, to allow timely decisions regarding disclosure. The Company’s
independent public accountants and the audit committee of the Company’s board of directors have been advised of all material weaknesses, if any, and significant deficiencies (as defined in Rule 1-02 of
Regulation S-X of the Commission), if any, in the Company’s internal control over financial reporting and of all fraud, if any, whether or not material, involving management or other employees who have a
role in the Company’s internal control over financial reporting, in each case that occurred or existed, or was first detected, at any time during the Company’s five consecutive fiscal years ended with and including the Company’s most
recent fiscal year end or at any time subsequent thereto. 
 (s) Compliance with the Sarbanes-Oxley Act. There is and has been no
failure on the part of the Company or any of the Company’s directors or officers, in their capacities as such, to comply with any provision of the Sarbanes-Oxley Act with which any of them is required to comply, including Section 402
related to loans and Sections 302 and 906 related to certifications. 
 (t) OFAC. Neither the Company nor any of its subsidiaries
nor, to the knowledge of the Company, any director, officer, agent, employee, affiliate or other person acting on behalf of the Company or any of its subsidiaries is currently subject to any U.S. sanctions administered by OFAC; and the Company will
not directly or indirectly use any of the proceeds from the sale of Shares by the Company in the offering contemplated by this Agreement, or lend, contribute or otherwise make available any such proceeds to any subsidiary, joint venture partner or
other person or entity, for the purpose of financing the activities of any person currently subject to any U.S. sanctions administered by OFAC. 

(u) Foreign Corrupt Practices Act. Neither the Company nor any of its subsidiaries nor, to the knowledge of the Company, any director,
officer, agent, employee, affiliate or other person acting on behalf of the Company or any of its subsidiaries is aware of or has taken any action, directly or indirectly, that has resulted or would result in a violation by any such person of the
FCPA, including, without limitation, any offer, payment, promise to pay or 

  
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authorization of the payment of any money, or other property, gift, promise to give, or authorization of the giving of anything of value to any “foreign official” (as such term is
defined in the FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the FCPA and the Company and its subsidiaries, and, to the knowledge of the Company, its other affiliates have
conducted their businesses in compliance with the FCPA and have instituted and maintain policies and procedures designed to ensure, and which are reasonably expected to ensure, continued compliance therewith. 

(v) Brokers. There is not a broker, finder or other party that is entitled to receive from the Company any brokerage or finder’s
fee or other fee or commission as a result of any of the transactions contemplated by this Agreement or the other Transaction Documents, except for fees and/or commissions paid or payable to Greenhill & Co., Inc. 

3.2 Representations and Warranties of the Purchaser. The Purchaser hereby represents and warrants as of the date hereof and as of the
Closing Date to the Company as follows: 
 (a) Organization; Authority. The Purchaser is an entity duly incorporated, validly
existing and in good standing under the laws of the jurisdiction of its incorporation with the requisite power and authority to enter into and to consummate the transactions contemplated by each of the Transaction Documents and otherwise to carry
out its obligations under the Transaction Documents. The execution and delivery of each of the Transaction Documents by the Purchaser and the consummation by it of the transactions contemplated by the Transaction Documents have been duly authorized
by all necessary action on the part of the Purchaser. Each Transaction Document to which it is a party has been (or upon delivery will have been) duly executed by the Purchaser, and when delivered by the Purchaser in accordance with the terms of the
Transaction Documents, will constitute the valid and binding obligation of the Purchaser, enforceable against it in accordance with its terms, except (i) as limited by general equitable principles and applicable bankruptcy, insolvency,
reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable
remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law. 
 (b) Own Account.
The Purchaser understands that the Shares are “restricted securities” and have not been registered under the Securities Act or any applicable state securities law and is acquiring the Shares as principal for its own account and not with a
view to or for distributing or reselling such Shares or any part thereof in violation of the Securities Act or any applicable state securities law, has no present intention of distributing any of such Shares in violation of the Securities Act or any
applicable state securities law and has no direct or indirect arrangement or understandings with any other persons to distribute or regarding the distribution of such Shares (this representation and warranty not limiting the Purchaser’s right
to sell the Shares in compliance with applicable federal and state securities laws) in violation of the Securities Act or any applicable state securities law. The Purchaser is acquiring the Shares hereunder in the ordinary course of its business.

 (c) Purchaser Status. At the time the Purchaser was offered the Shares, it was, and at the date hereof it is, either: (i) an
“accredited investor” as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7) or (a)(8) under the Securities Act or (ii) a “qualified institutional buyer” as defined in Rule 144A(a) under the Securities Act. The Purchaser is
not required to be registered as a broker-dealer under Section 15 of the Exchange Act and all of the SEC Reports have been made available to the Purchaser. 
  

  
 12 

 (d) Experience of the Purchaser. The Purchaser, either alone or together with its
representatives, has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Shares, and has so evaluated the merits and risks of
such investment. The Purchaser is able to bear the economic risk of an investment in the Shares and, at the present time, is able to afford a complete loss of such investment. 

(e) General Solicitation. The Purchaser is not purchasing the Shares as a result of any advertisement, article, notice or other
communication regarding the Shares published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar attended by the Purchaser. 

(f) Short Sales and Confidentiality Prior To The Date Hereof. Other than the transactions contemplated hereunder and under the
Transaction Documents, the Purchaser has not, nor has any Person acting on behalf of or pursuant to any understanding with the Purchaser, directly or indirectly executed any purchases or dispositions, including Short Sales, of the securities of the
Company during the period commencing from the time that the Purchaser first received a term sheet (written or oral) from the Company or any other Person representing the Company setting forth the material terms of the transactions contemplated
hereunder until the date hereof. Other than to other Persons party to this Agreement and to its representatives, the Purchaser has maintained the confidentiality of all disclosures made to it in connection with this transaction (including the
existence and terms of this transaction). 
 (g) Diligence. Purchaser has conducted the diligence appropriate as a potential investor
in the Company and has, in connection with such diligence review, reviewed the SEC Reports. 
 (h) No “Bad Actor”
Disqualification Events. Neither the Purchaser nor any of its directors, executive officers, other officers that may serve as a director or officer of any company in which it invests, general partners or managing members is subject to any of the
“bad actor” Disqualification Events, except for Disqualification Events covered by Rule 506(d)(2)(ii) or (iii) under the Securities Act and disclosed in writing in reasonable detail to the Company. 

ARTICLE IV 
 OTHER
AGREEMENTS OF THE PARTIES 
 4.1 Transfer Restrictions. 

(a) The Shares may only be disposed of in compliance with state and federal securities laws. In connection with any transfer of Shares (other
than pursuant to an effective registration statement or Rule 144 promulgated under the Securities Act, to the Company or to an Affiliate of the Purchaser or in connection with a pledge as contemplated in Section 4.1(b)), the Company may require
the transferor thereof to provide to the Company an opinion of counsel selected by the transferor to the effect that such transfer does not require registration of such transferred Shares under the Securities Act. As a condition of transfer, any
such transferee shall agree in writing to be bound by the terms of this Agreement and shall have the rights of the Purchaser under this Agreement. 
  

  
 13 

 (b) The Purchaser agrees to the imprinting, so long as is required by this Section 4.1, of a
legend on any of the Shares in the following form: 
 THIS SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR
THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE TRANSFERRED EXCEPT (1) PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, (2) PURSUANT TO RULE 144 PROMULGATED UNDER THE SECURITIES ACT, (3) TO THE COMPANY, (4) TO AN AFFILIATE OF THE INITIAL HOLDER OF THIS SECURITY, (5) IN CONNECTION WITH A
PLEDGE OR (6) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE AND FEDERAL SECURITIES LAWS AS SHALL BE EVIDENCED (IN
THE CASE OF (6) ONLY) BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT UPON THE COMPANY’S REQUEST. 
 (c)
Certificates evidencing the Shares shall not contain any legend (including the legend set forth in Section 4.1(b)), (i) following any sale of such Shares pursuant to Rule 144, or (ii) if such legend is not required under applicable
requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its legal counsel to issue a legal opinion to the Transfer Agent promptly after the Effective
Date if required by the Transfer Agent to effect the removal of the legend hereunder. The Company agrees that following the Effective Date or at such time as such legend is no longer required under this Section 4.1(c), it will, no later than
three Trading Days following the delivery by the Purchaser to the Company or the Transfer Agent of a certificate representing Shares issued with a restrictive legend, deliver or cause to be delivered to the Purchaser a certificate representing such
Shares that is free from all restrictive and other legends. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1(c). Certificates
for Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by the Purchaser. 

  
 14 

 (d) The Purchaser agrees that it will sell any Shares pursuant to either the registration
requirements of the Securities Act, including any applicable prospectus delivery requirements, or an exemption therefrom, and that if Shares are sold pursuant to a registration statement, they will be sold in compliance with the plan of distribution
set forth therein, and acknowledges that the removal of the restrictive legend from certificates representing Shares as set forth in this Section 4.1 is predicated upon the Company’s reliance upon this understanding. 

4.2 Furnishing of Information. As long as the Purchaser owns Shares purchased pursuant to this Agreement, the Company shall timely file
(or obtain extensions in respect thereof and file within the applicable grace period) all materials required to be filed by the Company after the date hereof pursuant to the Exchange Act. As long as the Purchaser owns Shares purchased pursuant to
this Agreement, if the Company is not required to file reports pursuant to the Exchange Act, it will prepare and furnish to the Purchaser and make publicly available in accordance with Rule 144(c) such information as is required for the Purchaser to
sell the Shares under Rule 144. The Company shall take such further action as any holder of Shares may reasonably request, to the extent required from time to time to enable such holder to sell such Shares without registration under the Securities
Act within the requirements of the exemption provided by Rule 144. 
 4.3 Integration. The Company shall not sell, offer for sale or
solicit offers to buy or otherwise negotiate in respect of any security (as defined in Section 2 of the Securities Act) that would be integrated with the offer or sale of the Shares in a manner that would require the registration under the
Securities Act of the sale of the Shares to the Purchaser or that would be integrated with the offer or sale of the Shares to the Purchaser for purposes of the rules and regulations of any Trading Market such that it would require shareholder
approval prior to the closing of such other transaction unless shareholder approval is obtained before the closing of such subsequent transaction. 

4.4 Securities Laws Disclosure; Publicity. The Company shall, within four (4) Trading Days immediately following the date hereof,
issue a Current Report on Form 8-K, disclosing the material terms of the transactions contemplated hereby. 

4.5 Use of Proceeds. The Company shall use the net proceeds from the sale of the Shares hereunder for general working capital purposes,
which shall not include the payment of any dividend or distribution. 
 4.6 Form D; Blue Sky Filings. The Company agrees to timely
file a Form D with respect to the Shares as required under Regulation D and to provide a copy thereof, promptly upon request of the Purchaser. The Company shall take such action as the Company shall reasonably determine is necessary in order to
obtain an exemption for, or to qualify the Shares for, sale to the Purchaser at the Closing under applicable securities or “Blue Sky” laws of the states of the United States, and shall provide evidence of such actions promptly upon request
of the Purchaser. 
 4.7 Listing of Shares. The Company shall cause the Shares to be approved for listing on the Trading Market
promptly following the Closing Date. The Company shall cause any shares of Common Stock deliverable upon exercise of the Warrant to be approved for listing on the Trading Market promptly following the exercise of the Warrant. 

  
 15 

 4.8 Warrant. 

(a) No later than February 16, 2017, the Company shall execute and deliver to, and in favor of, the Purchaser, a warrant on customary
terms reasonably acceptable to the Purchaser (the “Warrant”), pursuant to which the Purchaser will have the right, upon the approval by the Company’s stockholders of an amendment to the Company’s certificate of
incorporation, and filing thereof, increasing such number of shares of common stock in an amount sufficient to allow for the exercise of the shares being issued upon the exercise of the Warrant, until February 10, 2020 (the “Warrant
Expiration Date”), to purchase up to 8,655,804 shares of Common Stock, for cash only, at an exercise price of $4.90 per share (in each case, subject to adjustment in accordance with the terms of the Warrant). 

(b) From the date hereof until the earliest to occur of (A) the exercise in full of the Warrant and (B) the Warrant Expiration Date:

 (i) any shares of Common Stock authorized for issuance by the Company, but not currently reserved for issuance as of the
date hereof, shall first be reserved for issuance for purposes of permitting the exercise of the Warrant in full, up to such amount necessary to permit the exercise of the Warrant in full; and 

(ii) at any time there is not a sufficient number of authorized and unissued shares of Common Stock to permit the exercise of
the Warrant in full, the Company may not issue or reserve for issuance shares of Common Stock for any purpose other than for the exercise of the Warrant in full (unless such shares are currently reserved for issuance as of the date hereof, in which
case they may be issued in accordance with the terms of any equity compensation plan or other agreement pursuant to which they are being reserved). 

ARTICLE V 
 MISCELLANEOUS

 5.1 Fees and Expenses. Except as expressly set forth in the Transaction Documents to the contrary, each party shall pay the
fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement. The Company shall pay
all Transfer Agent fees, stamp taxes and other taxes and duties levied in connection with the delivery to the Purchaser of any Shares. 

5.2 Entire Agreement. The Transaction Documents, together with the exhibits and schedules thereto, contain the entire understanding of
the parties with respect to the subject matter hereof and supersede all prior agreements and understandings, oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules.

  
 16 

 5.3 Notices. Any and all notices or other communications or deliveries required or
permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number set forth on the
signature pages attached hereto prior to 5:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number set forth on
the signature pages attached hereto on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (c) the second Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight
courier service, or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall be as set forth on the signature pages attached hereto. Either party may from time to
time change its address for notice by giving at least five (5) days’ written notice of such changed address to the other party. 

5.4 Amendments; Waivers. No provision of this Agreement may be waived or amended except in a written instrument signed, in the case of
an amendment, by the Company and the Purchaser or, in the case of a waiver, by the party against whom enforcement of any such waived provision is sought. No waiver of any default with respect to any provision, condition or requirement of this
Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of any party to exercise any right hereunder
in any manner impair the exercise of any such right. 
 5.5 Headings. The headings herein are for convenience only, do not constitute
a part of this Agreement and shall not be deemed to limit or affect any of the provisions hereof. 
 5.6 Successors and Assigns. This
Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns. The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of the Purchaser
(other than by merger). The Purchaser may assign any or all of its rights under this Agreement to any Person to whom the Purchaser assigns or transfers any Shares, provided such transferee agrees in writing to be bound, with respect to the
transferred Shares, by the provisions of the Transaction Documents that apply to the “Purchaser.” Any assignment in violation of the foregoing shall be null and void. 

5.7 No Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors and
permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person. 
 5.8 Governing Law.
All questions concerning the construction, validity, enforcement and interpretation of the Transaction Documents shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the
principles of conflicts of law thereof. Each party agrees that all Proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a
party hereto or its respective affiliates, directors, officers, shareholders, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City of New York. Each party hereby irrevocably submits to the exclusive
jurisdiction of the state and federal courts sitting in the City of New York, borough of Manhattan for the adjudication of any dispute hereunder or in connection 

  
 17 

 
herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of any of the Transaction Documents), and hereby irrevocably waives, and agrees
not to assert in any Proceeding that it is not personally subject to the jurisdiction of any such court, that such Proceeding is improper or is an inconvenient venue for such Proceeding. Each party hereby irrevocably waives personal service of
process and consents to process being served in any Proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement
and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. If either party
shall commence a Proceeding to enforce any provisions of the Transaction Documents, then the prevailing party in such Proceeding shall be reimbursed by the other party for its reasonable attorneys’ fees and other costs and expenses incurred
with the investigation, preparation and prosecution of such Proceeding. 
 5.9 Execution. This Agreement may be executed in two or
more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties
need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and
binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature page were an original thereof. 

5.10 Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be
invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall
use their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be
the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 

5.11 Rescission and Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar
provisions of) any of the other Transaction Documents, whenever the Purchaser exercises a right, election, demand or option under a Transaction Document and the Company does not timely perform its related obligations within the periods therein
provided, then the Purchaser may rescind or withdraw, in its sole discretion from time to time upon written notice to the Company, any relevant notice, demand or election in whole or in part without prejudice to its future actions and rights. 

5.12 Replacement of Shares. If any certificate or instrument evidencing any Shares is mutilated, lost, stolen or destroyed, the Company
shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably
satisfactory to the Company of such loss, theft or destruction. The applicant for a new certificate or instrument under such circumstances shall also pay any reasonable third-party costs (including customary indemnity) associated with the issuance
of such replacement Shares. 

  
 18 

 5.13 Remedies; Specific Performance. In addition to being entitled to exercise all rights
provided herein or granted by law, including recovery of damages, the Purchaser and the Company will be entitled to specific performance under the Transaction Documents (including the Company’s obligation to execute the Warrant). The parties
agree that monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations contained in the Transaction Documents and hereby agree to waive and not to assert in any action for specific performance of
any such obligation the defense that a remedy at law would be adequate. 
 5.14 Saturdays, Sundays, Holidays, etc. If the last or
appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding Business Day. 

5.15 Waiver of Jury Trial. In any Proceeding in any jurisdiction brought by any party against any other party, the parties each
knowingly and intentionally, to the greatest extent permitted by applicable law, hereby absolutely, unconditionally, irrevocably and expressly waives forever trial by jury. 

5.16 Allocation. The Purchaser and the Company shall cooperate to determine the amounts to be allocated (for U.S. federal tax purposes)
to the Shares and the Warrant. In the case of failure to reach an agreement on such allocation within ninety (90) days of the date hereof, the allocation shall be made by a nationally recognized accounting firm jointly selected by the Purchaser
and the Company, with costs to be shared equally. The Purchaser and the Company shall report the tax treatment of the transactions contemplated in this agreement consistent with the allocation determined under this Section 5.16. 

(Signature Pages Follow) 

  
 19 

 IN WITNESS WHEREOF, the parties hereto have caused this Stock Purchase Agreement to be duly
executed by their respective authorized signatories as of the date first indicated above. 
  

							
	COMPANY:	 		  	
			
	IMMUNOMEDICS, INC.	 		  	Address for Notice:
		 		 		  	 300 The American Road
 Morris Plains, New Jersey
07950

	By:	 	 /s/ Cynthia L. Sullivan
	 		  	Attention: Michael R. Garone, Chief Financial
	Name:	 	Cynthia L. Sullivan	 		  	Officer
	Title:	 	President and	 		  	Fax: (973) 605-8511
		 	Chief Executive Officer	 		  	
		 		 		  	With a copy to (which shall not constitute notice):
				
		 		 		  	DLA Piper LLP (US)
		 		 		  	51 John F. Kennedy Parkway
		 		 		  	Short Hills, New Jersey 07078
		 		 		  	Attention: Andrew P. Gilbert, Esq.
		 		 		  	Fax: (973) 520-2573
			
	PURCHASER:	 		  	
			
	SEATTLE GENETICS, INC.	 		  	Address for Notice:
		 		 		  	 Seattle Genetics, Inc.
 21823 - 30th Drive
S.E.

	By:	 	 /s/ Clay B. Siegall
	 		  	Bothell, Washington 98021
	Name:	 	Clay B. Siegall, Ph.D.	 		  	Attention: General Counsel
	Title:	 	President and	 		  	Fax: (425) 527-4107
		 	Chief Executive Officer	 		  	
		 		 		  	With a copy to (which shall not constitute notice):
		 		 		  	Sullivan & Cromwell LLP
		 		 		  	125 Broad Street
		 		 		  	New York, New York 10004
		 		 		  	 Attention: Krishna Veeraraghavan, Esq.
 Ari B.
Blaut, Esq.

		 		 		  	Fax: (212) 558-3588

 [SIGNATURE PAGE TO STOCK PURCHASE
AGREEMENT] 

 EXHIBIT A 

Registration Rights Agreement 

[See attached.]EX-10.5

 Exhibit 10.5 

EXECUTION VERSION 
 REGISTRATION
RIGHTS AGREEMENT 
 This Registration Rights Agreement (this “Agreement”), dated as of February 10, 2017, by and
between Immunomedics, Inc., a Delaware corporation (the “Company”), and Seattle Genetics, Inc., a Delaware corporation (together with its permitted successors and assigns, the “Purchaser”). 

WHEREAS, the Company and the Purchaser have entered into a Stock Purchase Agreement, dated as of the date hereof (as may be further amended or
modified from time to time in accordance with its terms, the “Purchase Agreement”), whereunder, among other things, the Purchaser is purchasing 3,000,000 shares of Common Stock of the Company (the
“Purchased Shares”) from the Company, and the Company has agreed to execute and deliver to, and in favor of, the Purchaser, a warrant on customary terms reasonably acceptable to the Purchaser (the “Warrant”),
pursuant to which the Purchaser will have the right, until February 10, 2020 (the “Warrant Expiration Date”), to purchase up to 8,655,804 shares of Common Stock at an exercise price of $4.90 per share (in each case, subject to
adjustment in accordance with the terms of the Warrant); and 
 WHEREAS, the execution of this Agreement by the Company and its delivery to
the Purchaser is required by the Purchase Agreement; 
 NOW THEREFORE, in consideration of the premises and the covenants and agreements set
forth herein, and for other good and valuable consideration, the receipt and sufficiency of which the parties hereto acknowledge, the parties agree as follows: 

ARTICLE 1. DEFINITIONS 

As used in this Agreement, the following terms shall have the following meanings: 

“Business Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States
or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close. 

“Closing Date” shall have the meaning set forth in the Purchase Agreement. 

“Commission” means the Securities and Exchange Commission. 

“Common Stock” means the common stock of the Company, par value $0.01 per share, and any other class of securities into which
such securities may hereafter be reclassified or changed into. 
 “Exchange Act” means the Securities Exchange Act of 1934,
as amended, and the rules and regulations promulgated thereunder. 
 “Indemnified Party” shall have the meaning set forth
in Section 6.3. 

  
 1 

 “Indemnifying Party” shall have the meaning set forth in Section 6.3. 

“Losses” shall have the meaning set forth in Section 6.1. 

“Person” means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture,
limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind. 

“Proceeding” means an action, claim, suit, investigation or proceeding (including, without limitation, an informal
investigation or partial proceeding, such as a deposition), whether commenced or threatened. 
 “Prospectus” means the
prospectus included in the Registration Statement (including, without limitation, a prospectus that includes any information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A
promulgated under the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the Registrable Securities covered by the Registration Statement, and all other amendments
and supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference in such Prospectus. 

“Purchase Agreement” has the meaning set forth in the Recitations. 

“Purchased Shares” has the meaning set forth in the Recitations. 

“Registrable Securities” means the Purchased Shares and the Warrant Shares; provided, that any such securities shall
cease to constitute “Registrable Securities” upon the earliest to occur of (A) the date on which such securities are disposed of pursuant to a Registration Statement and (B) the date on which such securities cease to be
outstanding. 
 “Registration Statement” means any registration statement contemplated by this Agreement, including (in
each case) the Prospectus, amendments and supplements to such registration statement or Prospectus, including pre- and post-effective amendments, all exhibits thereto, and all material incorporated by
reference in such registration statement. 
 “Rule 144” means Rule 144 promulgated by the Commission pursuant to the
Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

“Rule 158” means Rule 158 promulgated by the Commission under the Securities Act, as such Rule may be amended from time to
time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

“Rule 415” means Rule 415 promulgated by the Commission under the Securities Act, as such Rule may be amended from time to
time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

  
 2 

 “Securities Act” means the Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder. 
 “Transfer Agent” shall have the meaning set forth in the Purchase Agreement. 

“Warrant” shall have the meaning set forth in the Recitations. 

“Warrant Expiration Date” shall have the meaning set forth in the Recitations. 

“Warrant Shares” shall have the meaning set forth in Section 2.1(a). 

ARTICLE 2. RESALE REGISTRATION STATEMENT 

2.1 Registration Statements. 
 (a)
Mandatory Registration. Within one hundred twenty (120) days after the Closing Date and subject to Section 2.3, the Company shall prepare and file with the Commission a Registration Statement, which shall be a “resale”
registration statement providing for the resale of the Registrable Securities pursuant to an offering to be made on a continuous basis under Rule 415. The Registration Statement required by the foregoing sentence shall be on Form S-3 and shall cover to the extent allowable under the Securities Act and the rules promulgated thereunder, such indeterminate number of additional shares of Common Stock resulting from stock splits, stock dividends
or similar transactions of and/or from the Registrable Securities and adjustments in the number of shares of Common Stock into which the Warrant is exercisable (such shares, “Warrant Shares”) made pursuant to the terms of the
Warrant. Such Registration Statement may include only the Registrable Securities. The Company shall use its reasonable best efforts to cause such Registration Statement to be declared effective under the Securities Act within one hundred eighty
(180) days after the Closing Date and to keep such Registration Statement continuously effective under the Securities Act until the date when all Registrable Securities covered by such Registration Statement have been sold. 

(b) Penalty. 

(i) If the Registration Statement required by the first sentence of Section 2.1(a) has not been filed as of the date that
is one hundred twenty (120) days after the Closing Date, on such date and on each subsequent 30-day anniversary of such date on which such Registration Statement has not been filed, the Company shall pay
to the Purchaser an amount in cash, in immediately available funds to one or more bank accounts that have been designated by the Purchaser, equal to $100,000, which amount will increase by $50,000 for each subsequent
30-day period after the first such payment until such Registration Statement has been filed. 

(ii) If the Registration Statement required by the first sentence of Section 2.1(a) has not been declared effective under
the Securities Act as of the date that is one hundred eighty (180) days after the Closing Date, on such date and on each subsequent 30-day anniversary of such date on which such Registration Statement has
not been declared effective, the Company shall pay to the Purchaser an amount in cash, in immediately available funds to one or more bank accounts that have been designated by the Purchaser, equal to $100,000, which amount will increase by $50,000
for each subsequent 30-day period after the first such payment until such Registration Statement has been declared effective. 
  

  
 3 

 2.2 Certain Matters. In the event that, due to limits imposed by the Commission, the Company is unable on
the Registration Statement filed pursuant to the first sentence of Section 2.1(a) to register for resale under Rule 415 of Regulation C under the Securities Act all of the Registrable Securities that it has agreed to file pursuant to the first
sentence of Section 2.1(a), the Company shall include in a Registration Statement, which may be a subsequent Registration Statement if the Company is required, or determines that it is desirable, to withdraw the original Registration Statement
and file a new Registration Statement in order to rely on Rule 415 with respect to the full such amount of the Registrable Securities permitted by the Commission. 

2.3 Blackout Period. The Company may postpone the filing or effectiveness of any Registration Statement (or amendment or supplement thereto) or suspend
the use or effectiveness of any Registration Statement (and in each case suspend any other related action otherwise contemplated hereunder) for a reasonable “blackout period” if the board of directors of the Company determines in good
faith that such registration or the sale by the Purchaser of Registrable Securities under such Registration Statement at such time (i) would adversely affect a pending or proposed significant corporate event, proposed financing or
(ii) would require the disclosure of material non-public information the disclosure of which at such time would, in the good faith judgment of the board of directors of the Company, be materially adverse
to the interests of the Company; provided that the filing or effectiveness of a Registration Statement (or amendment or supplement thereto) by the Company may not be postponed and the use or effectiveness of any Registration Statement may not
be suspended (A) in the case of clause (i) above, for more than ten (10) days after the abandonment or consummation of any of the pending or proposed significant corporate event, proposed financing or the negotiations, discussions or
pending proposals with respect thereto; (B) in the case of clause (ii) above, until the earlier to occur of the filing by the Company of its next succeeding Form 10-K or Form 10-Q or the date upon which such information is otherwise publicly disclosed by the Company; or (C) in any event, in the case of either clause (i) or (ii) above, for more than 90 days after the date of the
determination of the Board of Directors; provided that the Company may not postpone the filing or effectiveness of a Registration Statement (or amendment or supplement thereto) or suspend the use or effectiveness of any Registration Statement
for more than an aggregate of 90 days in any 365-day period. In addition to the foregoing, the Company shall have the right to suspend the Purchaser’s ability to use a Prospectus in connection with non-underwritten sales off of a Registration Statement during each of its regular quarterly blackout periods applicable to directors and senior officers under the Company’s policies in existence from time to
time. The Company shall not be required to effectuate an underwritten offering (during such a regular quarterly blackout period or otherwise) to the extent the Company reasonably concludes, after consultation in good faith with the Purchaser, that
the Company cannot provide adequate, timely disclosure or satisfy other underwriting conditions in connection with such offering without undue burden. 

  
 4 

 2.4 Demand Rights for Shelf Takedowns. Subject to Sections 2.3 and 8.4, upon the written demand of the
Purchaser, the Company will facilitate in the manner described in this Agreement a “takedown” of Registrable Securities off of a Registration Statement; provided that the Purchaser may not make such demand more than four times in
the aggregate; and provided, furthermore, that any demand for an underwritten offering of Registrable Securities shall have an aggregate market value (based on the most recent closing pricing of the Common Stock at the time of the demand) of at
least $1,000,000. If a demand by the Purchaser has been made for a shelf takedown, no further demands may be made so long as such offering is still being pursued. 

ARTICLE 3. NOTICES, CUTBACKS AND OTHER MATTERS 

3.1 Notifications Regarding Request for Takedown. In order for the Purchaser to initiate a shelf takedown off of a Registration Statement, the
Purchaser must so notify the Company in writing indicating the number of Registrable Securities sought to be offered and sold in such takedown and the proposed plan of distribution. Pending any required public disclosure by the Company and subject
to applicable legal requirements, the parties will maintain the confidentiality of all notices and other communications regarding any such proposed takedown. 

3.2 Plan of Distribution, Underwriters and Counsel. If the Registrable Securities are proposed to be sold in an underwritten offering, the Purchaser
will be entitled to determine the plan of distribution and select the managing underwriters, in each case subject to the consent of the Company (not to be unreasonably withheld), and the Purchaser will also be entitled to select counsel for the
Purchaser (which may be the same as counsel for the Company). 
 3.3 Cutbacks. If the Registrable Securities are proposed to be sold in an
underwritten offering and the managing underwriters advise the Company and the Purchaser that, in their opinion, the number of Registrable Securities requested to be included in an underwritten offering exceeds the amount that can be sold in such
offering without adversely affecting the distribution of the Registrable Securities being offered, such offering will include only the number of Registrable Securities that the managing underwriters advise can be sold in the offering. 

3.4 Withdrawals. If the Purchaser has demanded a registered underwritten offering to be conducted, the Purchaser may, no later than the time at which
the public offering price and underwriters’ discount are determined with the managing underwriter, decline to sell all or any portion of the Registrable Securities being offered for the Purchaser’s account; provided that if the Purchaser
declines to sell, in whole or in part, the Registrable Securities being offered for the Purchaser’s account, then the demand for such underwritten offering shall count as a demand for purposes of Section 2.4 of this Agreement unless the
Purchaser reimburses the Company for all reasonable out-of-pocket expenses incurred by the Company in connection with such underwritten offering. 

3.5 Lockups. In connection with any underwritten offering of Registrable Securities, the Company and the Purchaser will agree (in the case of the
Company, with respect to the Common Stock and any rights related thereto, and in the case of the Purchaser, with respect to the Registrable Securities held by it and any rights related thereto) to be bound by customary lockup restrictions in the
applicable underwriting agreement. 

  
 5 

 ARTICLE 4. FACILITATING REGISTRATIONS AND OFFERINGS 

4.1 Registration Statements. In connection with any Registration Statement, the Company will: 

(a) (i) prepare and file with the Commission the Registration Statement covering the applicable Registrable Securities pursuant to
Section 2.1 of this Agreement, (ii) file amendments thereto as warranted, (iii) seek the effectiveness thereof, and (iv) file with the Commission such Prospectuses as may be required, all in consultation with the Purchaser (or
its representatives) and as reasonably necessary in order to permit the offer and sale of such Registrable Securities in accordance with the applicable plan of distribution; 

(b) (i) within a reasonable time prior to the filing of any Registration Statement, any Prospectus, any amendment to any Registration
Statement, any amendment or supplement to a Prospectus or any issuer free writing prospectus covering Registrable Securities, provide copies of such documents to the Purchaser (or its representatives) and to the underwriter or underwriters of an
underwritten offering, if applicable, and to their respective counsel; fairly consider such reasonable changes in any such documents prior to or after the filing thereof as the counsel to the Purchaser or the underwriter or the underwriters may
request; and make such of the representatives of the Company as shall be reasonably requested by the Purchaser or any underwriter available for discussion of such documents; 

(ii) within a reasonable time prior to the filing of any document which is to be incorporated by reference into any Registration Statement or
a Prospectus covering Registrable Securities, provide copies of such document to counsel for the Purchaser and underwriters; fairly consider such reasonable changes in such document prior to or after the filing thereof as counsel for the Purchaser
or such underwriter shall request; and make such of the representatives of the Company as shall be reasonably requested by such counsel available for discussion of such document; 

(c) use its commercially reasonable efforts to cause any Registration Statement and any related Prospectus and any amendment or supplement
thereto, as of the effective date of such Registration Statement, amendment or supplement and during the distribution of any registered Registrable Securities (i) to comply in all material respects with the requirements of the Securities Act
and the rules and regulations of the Commission and (ii) not to contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading; 

(d) notify the Purchaser promptly, and, if requested by the Purchaser, confirm such advice in writing, (i) when any Registration
Statement has become effective and when any post-effective amendments and supplements thereto become effective if such Registration Statement or post-effective amendment is not automatically effective upon filing pursuant to Rule 462, (ii) of the
issuance by the Commission or any U.S. state securities authority of any stop order, injunction or other order or requirement suspending the effectiveness of any Registration Statement or the initiation of any proceedings for that purpose,
(iii) if, between the effective date of any Registration Statement and the closing of any sale of securities covered thereby pursuant to any agreement to which the Company is a party, the representations and warranties of the

  
 6 

 
Company contained in such agreement cease to be true and correct in all material respects or if the Company receives any notification with respect to the suspension of the qualification of any
Registrable Securities for sale in any jurisdiction or the initiation of any proceeding for such purpose, and (iv) of the happening of any event during the period any Registration Statement is effective as a result of which such Registration
Statement or the related Prospectus contains any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading; provided that the Purchaser,
upon receiving written notice of an event described in clauses (ii) to (iv) of this Section 4.1(d), shall discontinue (and direct any other Person making offers and sales of such Registrable Securities on its behalf to discontinue) offers
and sales of such Registrable Securities pursuant to any Registration Statement (other than those pursuant to a plan in effect prior to such event and that complies with Rule 10b5-1 under the Exchange Act)
until it is advised in writing by the Company that the use of the applicable Prospectus may be resumed and is furnished with an amended or supplemented Prospectus; 

(e) furnish counsel for each underwriter, if any, and for the Purchaser with copies of any written correspondence with the Commission or any
state securities authority relating to any applicable Registration Statement or Prospectus; 
 (f) otherwise use its commercially reasonable
efforts to comply with all applicable rules and regulations of the Commission, including making available to its security holders an earnings statement covering at least 12 months which shall satisfy the provisions of Section 11(a) of the
Securities Act and Rule 158 thereunder (or any similar provision then in force); and 
 (g) use its commercially reasonable efforts to
obtain the withdrawal of any order suspending the effectiveness of any Registration Statement at the earliest possible time. 
 4.2 Shelf Takedowns.
In connection with any shelf takedown that is demanded by the Purchaser, the Company will: 
 (a) cooperate with the Purchaser and the sole
underwriter or managing underwriter of an underwritten offering, if any, to facilitate the timely preparation and delivery of certificates representing the Registrable Securities to be sold and not bearing any restrictive legends; and enable such
Registrable Securities to be in such denominations (consistent with the provisions of the governing documents thereof), and registered in such names as the Purchaser or the sole underwriter or managing underwriter of an underwritten offering of
Registrable Securities, if any, may reasonably request at least five days prior to any sale of such Registrable Securities; 
 (b) furnish
to the Purchaser and to each underwriter, if any, participating in the relevant offering, without charge, as many copies of the applicable Prospectus, including each preliminary prospectus, and any amendment or supplement thereto and such other
documents as the Purchaser or underwriter may reasonably request in order to facilitate the public sale of the Registrable Securities, subject to the other provisions of this Agreement; the Company hereby consents to the use of the Prospectus,
including each preliminary prospectus, by the Purchaser and each underwriter in connection with the offering and sale of the Registrable Securities covered by the Prospectus or the preliminary prospectus; 

  
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 (c) (i) use its commercially reasonable efforts to register or qualify the Registrable Securities
being offered and sold under all applicable U.S. state securities or “blue sky” laws of such jurisdictions as each underwriter shall reasonably request; (ii) use its commercially reasonable efforts to keep each such registration or
qualification effective during the period such Registration Statement is required to be kept effective; and (iii) do any and all other acts and things which may be reasonably necessary or advisable to enable each such underwriter, if any,
and/or the Purchaser to consummate the disposition in each such jurisdiction of such Registrable Securities owned by the Purchaser; provided, however, that the Company shall not be obligated to qualify as a foreign corporation or as a dealer
in securities in any jurisdiction in which it is not so qualified, to subject itself to taxation in any such jurisdiction, or to consent to be subject to general service of process (other than service of process in connection with such registration
or qualification or any sale of Registrable Securities in connection therewith) in any such jurisdiction; 
 (d) use its commercially
reasonable efforts to cause all Registrable Securities being offered and sold pursuant to this Agreement to be qualified for inclusion in or listed on the Nasdaq Global Market or any securities exchange on which the Common Stock issued by the
Company are then so qualified or listed if so requested by the Purchaser or if so requested by the underwriter or underwriters of an underwritten offering of Registrable Securities, if any; 

(e) cooperate and assist in any filings required to be made with the Nasdaq Global Market or other securities exchange and, solely with regard
to an underwritten shelf takedown, in the performance of any reasonable due diligence investigation by the underwriters; 
 (f) solely with
regard to an underwritten shelf takedown, use its commercially reasonable efforts to facilitate the distribution and sale of any Registrable Securities to be offered pursuant to this Agreement, including without limitation by making road show
presentations, holding meetings with and making calls to potential investors and taking such other actions as shall be reasonably requested by the Purchaser or the lead managing underwriter; 

(g) solely with regard to an underwritten shelf takedown, enter into underwriting agreements in customary form (including provisions with
respect to indemnification and contribution in customary form) and take all other customary and appropriate actions in order to expedite or facilitate the disposition of such Registrable Securities and in connection therewith: 

1. make such representations and warranties to the Purchaser and the underwriters in such form, substance and scope as are
customarily made by issuers to underwriters in similar underwritten offerings; 
 2. obtain opinions of counsel to the
Company and updates thereof (which counsel and opinions (in form, scope and substance) shall be reasonably satisfactory to the lead managing underwriter) addressed to the underwriters and, if reasonably obtainable, the Purchaser covering the matters
customarily covered in opinions delivered in similar underwritten offerings; and 

  
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 3. obtain “cold comfort” letters and updates thereof from the
Company’s independent certified public accountants addressed to the underwriters, and, if reasonably obtainable, the Purchaser, which letters shall be customary in form and shall cover matters of the type customarily covered in “cold
comfort” letters to underwriters in connection with similar underwritten offerings. 
 4.3 Due Diligence. In connection with each registration
and offering of Registrable Securities to be sold by the Purchaser, the Company will, in accordance with customary practice, make reasonably available for inspection by representatives of the Purchaser and underwriters and any counsel or accountant
retained by the Purchaser or underwriters all relevant financial and other records, pertinent corporate documents and properties of the Company and cause appropriate officers, managers and employees of the Company to supply all information
reasonably requested by any such representative, underwriter, counsel or accountant in connection with their due diligence exercise. Such access to information, documents, personnel and other matters shall be provided to such participants, at such
times and in such manner as are customary for offerings of the relevant type and as do not unreasonably burden the Company or unreasonably interfere with its operations. All information, documents and other matters provided or made accessible by the
Company in connection with a registered offering hereunder shall be kept confidential pending any public disclosure thereof by the Company and subject to applicable legal requirements. 

4.4 Information from the Purchaser. The Purchaser shall furnish to the Company such information regarding itself as is required to be included in any
Registration Statement, the ownership of Registrable Securities by the Purchaser and the proposed distribution by the Purchaser of such Registrable Securities as the Company may from time to time reasonably request in writing. The Purchaser shall
participate in any registered offering hereunder on the terms and conditions applicable to such offering and the applicable plan of distribution; provided that the Purchaser shall not be required to make any representations or warranties to
or agreements with the Company or the underwriters other than representations, warranties or agreements regarding the Purchaser and the Registrable Securities. Notwithstanding any other provision of this Agreement, the Company shall not be required
to file any Registration Statement or include Registrable Securities therein unless it has received from the Purchaser, within a reasonable period of time prior to the anticipated filing date of such Registration Statement, all requested information
required to be included in such Registration Statement. 
 ARTICLE 5. REGISTRATION EXPENSES 

All fees and expenses incident to the performance of or compliance with this Agreement by the Company, except as and to the extent specified
in this Article 5, shall be borne by the Company whether or not any Registration Statement is filed or becomes effective and whether or not any Registrable Securities are sold pursuant to any Registration Statement. The fees and expenses referred to
in the foregoing sentence shall include, without limitation, and to the extent applicable (i) all registration and filing fees (including, without limitation, fees and expenses (A) with respect to filings required to be made with each
securities exchange or market on which Registrable Securities are required hereunder to be listed, if any, (B) with respect to filing fees required to be paid to the Financial Industry Regulatory Authority and (C) in compliance with state
securities or Blue Sky laws (including, without limitation, fees and disbursements of counsel for the Purchaser in connection with Blue Sky qualifications of the Registrable Securities and determination of the eligibility of the Registrable
Securities for investment under 

  
 9 

 
the laws of such jurisdictions as the Company may designate), (ii) printing expenses (including, without limitation, expenses of printing certificates for Registrable Securities and of
printing prospectuses if the printing of prospectuses is requested by the Company), (iii) messenger, telephone and delivery expenses, (iv) Securities Act liability insurance, if the Company elects to purchase such insurance, and (v) fees
and expenses of all other Persons retained by the Company in connection with the consummation of the transactions contemplated by this Agreement, including, without limitation, the Company’s independent public accountants (including the
expenses of any comfort letters or costs associated with the delivery by independent public accountants of a comfort letter or comfort letters). In addition, the Company shall be responsible for all of its internal expenses incurred in connection
with the consummation of the transactions contemplated by this Agreement (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), the expense of any annual audit, the fees and
expenses incurred in connection with the listing of any Registrable Securities on any securities exchange if required hereunder. The Company shall not be responsible for any underwriters’, brokers’ and dealers’ discounts and
commissions, transfer taxes or other similar fees incurred by the Purchaser in connection with the sale of any Registrable Securities. 

ARTICLE 6. INDEMNIFICATION 
 6.1
Indemnification by the Company. The Company shall, notwithstanding any termination of this Agreement, indemnify and hold harmless the Purchaser, its officers, directors, employees and affiliates, each Person who controls the Purchaser (within
the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) and the officers, directors and employees of each such controlling Person (collectively, the “Purchaser Indemnified Parties”), to the full
extent permitted by applicable law, from and against any and all losses, claims, damages, liabilities, costs (including, without limitation, costs of preparation and attorneys’ and expert witnesses’ fees) and expenses (collectively,
“Losses”) (as determined by a court of competent jurisdiction in a final judgment not subject to appeal or review), to which the Purchaser Indemnified Parties may become subject under the Securities Act or otherwise, arising out of
or relating to any violation of securities laws or untrue or alleged untrue statement of a material fact contained in any Registration Statement, any Prospectus or any form of prospectus or in any amendment or supplement thereto or in any
preliminary prospectus, or arising out of or relating to any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of any Prospectus or form of prospectus or supplement
thereto, in the light of the circumstances under which they were made) not misleading, except to the extent, but only to the extent, that such untrue statements or omissions are based solely upon information regarding the Purchaser furnished in
writing to the Company by the Purchaser expressly for use therein. The Company shall notify the Purchaser promptly of the institution, threat or assertion of any Proceeding of which the Company is aware in connection with the transactions
contemplated by this Agreement. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of the Purchaser, the directors and officers of the Purchaser, or controlling Person of the Purchaser, and
shall survive the transfer of such securities held by the Purchaser. 
 6.2 Indemnification by the Purchaser. The Purchaser shall indemnify and hold
harmless the Company, its directors, officers and employees, each Person who controls the Company (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the

  
 10 

 
directors, officers and employees of such controlling Persons (collectively, the “Company Indemnified Parties”), to the full extent permitted by applicable law, from and against
all Losses (as determined by a court of competent jurisdiction in a final judgment not subject to appeal or review), to which the Company Indemnified Parties may become subject under the Securities Act or otherwise, arising solely out of or based
solely upon any untrue statement of a material fact contained in any Registration Statement, any Prospectus, or any form of prospectus, or in any amendment or supplement thereto, or arising solely out of or based solely upon any omission of a
material fact required to be stated therein or necessary to make the statements therein (in the case of any Prospectus or form of prospectus or supplement thereto, in the light of the circumstances under which they were made) not misleading, to the
extent, but only to the extent, that such untrue statement or omission is contained in any information so furnished in writing by the Purchaser to the Company specifically for inclusion in the Registration Statement or such Prospectus.
Notwithstanding anything to the contrary contained herein, the Purchaser shall be liable under this Section 6.2 for only that amount as does not exceed the net proceeds to the Purchaser as a result of the sale of Registrable Securities pursuant
to such Registration Statement. 
 6.3 Conduct of Indemnification Proceedings. (a) If any Proceeding shall be brought or asserted against any
Person entitled to indemnity hereunder (an “Indemnified Party”), such Indemnified Party promptly shall notify the Person from whom indemnity is sought (the “Indemnifying Party”) in writing, and the Indemnifying
Party shall be entitled to assume the defense thereof, including the employment of counsel reasonably satisfactory to the Indemnified Party and the payment of all fees and expenses incurred in connection with defense thereof; provided, that the
failure of any Indemnified Party to give such notice shall not relieve the Indemnifying Party of its obligations or liabilities pursuant to this Agreement, except (and only) to the extent that it shall be finally determined by a court of competent
jurisdiction (which determination is not subject to appeal or further review) that such failure shall have proximately and materially adversely prejudiced the Indemnifying Party. 

(b) An Indemnified Party shall have the right to employ separate counsel in any such Proceeding and to participate in the defense thereof, but
the fees and expenses of such counsel shall be at the expense of such Indemnified Party or Parties unless: (1) the Indemnifying Party has agreed in writing to pay such fees and expenses; or (2) the Indemnifying Party shall have failed
promptly to assume the defense of such Proceeding and to employ counsel reasonably satisfactory to such Indemnified Party in any such Proceeding; or (3) the named parties to any such Proceeding (including any impleaded parties) include both
such Indemnified Party and the Indemnifying Party, and such parties shall have been advised by counsel that a conflict of interest is likely to exist if the same counsel were to represent such Indemnified Party and the Indemnifying Party (in which
case, if such Indemnified Party notifies the Indemnifying Party in writing that it elects to employ separate counsel at the expense of the Indemnifying Party, the Indemnifying Party shall not have the right to assume the defense thereof and such
counsel shall be at the expense of the Indemnifying Party). The Indemnifying Party shall not be liable for any settlement of any such Proceeding effected without its written consent, which consent shall not be unreasonably withheld or delayed. No
Indemnifying Party shall, without the prior written consent of the Indemnified Party, effect any settlement of any pending or threatened Proceeding in respect of which any Indemnified Party is a party and indemnity has been sought hereunder, unless
such settlement includes an unconditional release of such Indemnified Party from all liability on claims that are the subject matter of such Proceeding. 

  
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 (c) All fees and expenses of the Indemnified Party (including reasonable fees and expenses to the
extent incurred in connection with investigating or preparing to defend such Proceeding in a manner not inconsistent with this Section 6.3) shall be paid to the Indemnified Party, as incurred, within thirty (30) Business Days of written
notice thereof to the Indemnifying Party (regardless of whether it is ultimately determined that an Indemnified Party is not entitled to indemnification hereunder; provided, that the Indemnified Party shall reimburse all such fees and expenses to
the extent it is finally judicially determined that such Indemnified Party is not entitled to indemnification hereunder). 
 6.4 Contribution.
(a) If a claim for indemnification under Sections 6.1 or 6.2 is due but unavailable to an Indemnified Party, then each Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall contribute to the amount paid or payable by such
Indemnified Party as a result of such Losses, in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party on the one hand and the Indemnified Party on the other in connection with the actions, statements or omissions
that resulted in such Losses as well as any other relevant equitable considerations. The relative fault of each Indemnifying Party and Indemnified Party shall be determined by reference to, among other things, whether any action in question,
including any untrue or alleged untrue statement of a material fact or omission or alleged omission of a material fact, has been taken or made by, or relates to information supplied by, such Indemnifying Party or Indemnified Party, and the
parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such action, statement or omission. 

(b) The amount paid or payable by a party as a result of any Losses shall be deemed to include, subject to the limitations set forth in
Section 6.3, any reasonable attorneys’ or other reasonable fees or expenses incurred by such party in connection with any Proceeding to the extent such party would have been indemnified for such fees or expenses if the indemnification
provided for in this Section 6.4 was available to such party in accordance with its terms. In no event shall the Purchaser be required to contribute an amount under this Section 6.4 in excess of the net proceeds received by it upon the
sale of its Registrable Securities pursuant to a Registration Statement giving rise to such contribution obligation. 
 (c) The parties
hereto agree that it would not be just and equitable if contribution pursuant to this Section 6.4 were determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred
to in Section 6.4(a) and Section 6.4(b). No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not also guilty of such
fraudulent misrepresentation. 
 (d) The indemnity and contribution agreements contained in this Section 6.4 are in addition to any
liability that the Indemnifying Parties may have to the Indemnified Parties pursuant to the law. 
 6.5 Survival. The agreements contained in this
Section 6 shall survive the transfer of the Registered Securities by the Purchaser and sale of all of the Registrable Securities pursuant to any registration statement and shall remain in full force and effect, regardless of any investigation
made by or on behalf of any Purchaser Indemnified Party. 

  
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 ARTICLE 7. RULE 144 

If the Company is subject to the requirements of Section 13, 14 or 15(d) of the Exchange Act, the Company covenants that it will file any
reports required to be filed by it under the Securities Act and the Exchange Act, so as to enable the Purchaser to sell Registrable Securities without registration under the Securities Act within the limitation of the exemptions provided by
(a) Rule 144 or (b) any successor rule or regulation hereafter adopted by the Commission. Upon the request of the Purchaser, the Company will deliver to the Purchaser a written statement as to whether it has complied with such
requirements. Notwithstanding anything in this Agreement, the Company shall not be required to register any of its equity securities under Section 12 of the Exchange Act in order to enable the Purchaser to dispose of Registrable Securities
under Rule 144. 
 ARTICLE 8. MISCELLANEOUS 

8.1 Remedies. In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, the Purchaser and
the Company will be entitled to specific performance under this Agreement. The parties agree that monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations contained in this Agreement and hereby
agree to waive and not to assert in any action for specific performance of any such obligation the defense that a remedy at law would be adequate. 
 8.2
Entire Agreement. This Agreement, together with the other Transaction Documents and the exhibits and schedules thereto, contains the entire understanding of the parties with respect to the subject matter hereof and supersedes all prior
agreements and understandings, oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules. 

8.3 No Inconsistent Agreements. The Company shall not enter into any such agreement with respect to its securities that is inconsistent with or
violates the rights granted to the Purchaser in this Agreement. 
 8.4 Termination of Registration Rights. This Agreement to register Registrable
Securities for sale under the Securities Act shall terminate on the fifth anniversary of the effective date of the Registration Statement filed pursuant to Section 2.1(a). Notwithstanding any termination of this Agreement pursuant to this
Section 8.4, the parties’ rights and obligations under Article 6 hereof shall continue in full force and effect in accordance with their respective terms. 

8.5 Amendments; Waivers. No provision of this Agreement may be waived or amended except in a written instrument signed, in the case of an amendment, by
the Company and the Purchaser or, in the case of a waiver, by the party against whom enforcement of any such waived provision is sought. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be
deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of any party to exercise any right hereunder in any manner
impair the exercise of any such right. 

  
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 8.6 Notices. Any notice, demand, request, waiver or other communication required or permitted to be given
hereunder shall be made in accordance with Section 5.3 of the Purchase Agreement. 
 8.7 Successors and Assigns. 

(a) This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns and shall inure to
the benefit of the Purchaser and its successors and permitted assigns. The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of the Purchaser (other than in accordance with
Section 8.7(b)). The Purchaser may assign any or all of its rights under this Agreement to any Person to whom the Purchaser assigns or transfers any Registrable Securities, provided such transferee agrees in writing to be bound, with respect to
the transferred Registrable Securities, by the provisions of the Transaction Documents that apply to the “Purchaser.” Any assignment in violation of this Section 8.7 shall be null and void. 

(b) In the event the Company engages in a merger or consolidation in which the Registrable Securities are converted into securities of another
company, or if there are any changes in the Common Stock by way of share split, stock dividend, combination or reclassification, appropriate arrangements will be made so that the registration rights provided under this Agreement continue to be
provided to the Purchaser by the issuer of such securities. To the extent any new issuer, or any other company acquired by the Company in a merger or consolidation, was bound by registration rights obligations that would conflict with the provisions
of this Agreement, the Company will, unless the Purchaser otherwise agrees, use commercially reasonable efforts to modify any such “inherited” registration rights obligations so as not to interfere in any material respects with the rights
provided under this Agreement. 
 8.8 No Third-Party Beneficiaries. Except for Section 6.1 and Section 6.2, which are intended to benefit
each Purchaser Indemnified Party and each Company Indemnified Party, respectively, this Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns and is not for the benefit of, nor may any
provision hereof be enforced by, any other Person. 
 8.9 Execution. This Agreement may be executed in two or more counterparts, all of which when
taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In
the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party
executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature page were an original thereof. 

  
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 8.10 Governing Law; Jurisdiction. All questions concerning the construction, validity, enforcement and
interpretation of this Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof. Each party agrees that all Proceedings
concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement (whether brought against a party hereto or its respective affiliates, directors, officers, shareholders, employees or agents) shall be
commenced exclusively in the state and federal courts sitting in the City of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City of New York, borough of Manhattan for the
adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of this Agreement), and hereby irrevocably waives, and agrees not to assert in
any Proceeding that it is not personally subject to the jurisdiction of any such court, that such Proceeding is improper or is an inconvenient venue for such Proceeding. Each party hereby irrevocably waives personal service of process and consents
to process being served in any Proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such
service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. If either party shall commence a
Proceeding to enforce any provisions of this Agreement, then the prevailing party in such Proceeding shall be reimbursed by the other party for its reasonable attorneys’ fees and other costs and expenses incurred with the investigation,
preparation and prosecution of such Proceeding. 
 8.11 Waiver of Jury Trial. In any Proceeding in any jurisdiction brought by any party against any
other party, the parties each knowingly and intentionally, to the greatest extent permitted by applicable law, hereby absolutely, unconditionally, irrevocably and expressly waives forever trial by jury. 

8.12 Cumulative Remedies. The remedies provided herein are cumulative and not exclusive of any remedies provided by law. 

8.13 Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid,
illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use
their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the
intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 

8.14 Section Headings. The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or
affect any of the provisions hereof. 
 8.15 Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the
expiration of any right required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding Business Day. 

(Signature Pages Follow) 

  
 15 

 IN WITNESS WHEREOF, the parties hereto have caused this Registration Rights Agreement to be duly
executed by a Person thereunto authorized as of the date first indicated above. 
  

			
	 COMPANY:

	
	 IMMUNOMEDICS, INC.

		
	 By:
	 	 /s/ Cynthia L. Sullivan

	 Name:
	 	 Cynthia L. Sullivan

	 Title:
	 	 President and Chief Executive Officer

	
	 PURCHASER:

	
	 SEATTLE GENETICS, INC.

		
	 By:
	 	 /s/ Clay B. Siegall

	 Name:
	 	 Clay B. Siegall, Ph.D.

	 Title:
	 	 President and Chief Executive Officer

 [Signature Page to Registration Rights Agreement]

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