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Progenics, Nektar Still Halted; FDA Advisory Committee Expected To Conclude Thursday

Luke Jacobi

Progenics Pharmaceuticals (NASDAQ: PGNX) and Nektar Therapeutics (NASDAQ: NKTR) are halted as investors wait for the FDA panel's ruling.

The FDA’s anesthetic and analgesic drug committees began meeting Wednesday and are expected to conclude their discussion Thursday, regarding cardiovascular risk related to opioid receptor antagonists. Because both companies are active in this space, the FDA commentary is likely to have a significant impact on the share price of both companies.

This FDA meeting will not result in a final decision, but the recommendation from the committee will be important for the FDA’s final action.

Shares of Progenics are down 2.28 percent and Nektar shares are up 34.84 percent since the FDA announced this meeting in June 2013.

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