|Bid||5.36 x 2200|
|Ask||5.37 x 2200|
|Day's Range||5.12 - 5.49|
|52 Week Range||3.42 - 6.62|
|Beta (3Y Monthly)||2.53|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 2, 2018 - Nov 5, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||9.08|
Helping to buoy investor sentiment was the announcement that China and the United States will meet face to face in October in the next round of trade talks. The unemployment rate among several demographics is at the lowest levels ever measured. The consumer part of the economy remains in very solid shape with wage growth at or near its highest levels in over a decade with still more job openings than people to fill them.
Progenics Pharmaceuticals, Inc. (PGNX) an oncology company developing innovative targeted medicines and artificial intelligence to find, fight and follow cancer, today announced that an abstract highlighting PyLTM (18F-DCFPyL) has been selected for poster presentation at the upcoming International Conference on Immunotherapy Radiotherapy Combinations, which will be held from September 12 - 14, 2019 in New York, NY.
13D FILINGS 13Ds are filed with the Securities and Exchange Commission within 10 days of an entity’s attaining a greater than 5% position in any class of a company’s securities. Subsequent changes in holdings or intentions must be reported in amended filings.
(Bloomberg) -- Progenics Pharmaceuticals Inc.’s disappointing performance has driven some investors to side with activist shareholder Velan Capital LP as they push for significant changes.A slow launch for its sole wholly owned drug Azedra has prompted Velan, the company’s second-largest holder, and others to threaten to shake up the drugmaker’s board. One of Progenics’s top 10 stakeholders told Bloomberg that they have more confidence in Velan’s team than the drugmaker’s current management.The investor, who asked not to be named due to a company policy, would still support the company if the board replaced Chief Executive Officer Mark Baker. The holder cited Azedra’s “botched” commercial launch as a reason for discontent. Shares of the biotech company have erased most of their 2019 gains after being up almost 50% in late June.Investors see Progenics as significantly undervalued for the assets that it holds. Besides Azedra, a therapy for rare endocrine tumors, the drugmaker gets royalties for opioid-induced constipation drug Relistor, which is partnered with Bausch Health Companies Inc. It also has a few other clinical trials ongoing.A second investor, who has owned Progenics shares for years, is willing to give the company and its CEO another year to improve execution, while waiting for the activist to put forward board nominations and more formal plans. The holder said the Progenics board has been in touch recently to ask for investor feedback, which is “good progress.”“We take the views of our shareholders seriously,” New York-based Progenics said in a statement. “The board is working with urgency to make the changes necessary to improve the company’s performance.”The biotech’s shares have declined 45% over the past 12 months and were trading Friday at about $4 apiece. That’s nearly two-thirds lower than what they traded for in early 2017.All the analysts tracked by Bloomberg share the holders’ view that the stock has more upside from current levels. They expect the stock will more than double in the next 12 months.The shares plunged last week after the company reported that it had only treated two patients with Azedra, nearly a year after the cancer medicine won approval from the FDA. The drugmaker received 32 additional requests for treatment, although management said on a recent earnings call that it’s hard to forecast how quickly those will turn into actual sales.Previously, Progenics said it took time to get the different specialized centers ready to administer the medicine and work through the logistics of getting patients ready to be dosed.In the second quarter, the drugmaker spent $5.5 million in legal and advisory fees to fight Velan for the re-election of its board members, unsuccessfully. Last month, shareholders voted against re-appointing board members Michael Kishbauch and former chairman Peter Crowley. Both men stepped down and will leave the company soon. A majority of holders voted for the re-election of CEO Baker as director.Cash ConcernsWith about $85 million in cash and equivalents at the end of the second quarter, Progenics may need to raise money soon, Velan said in a recent statement. BTIG analyst Tim Chiang, a long-term bull on the stock, recently wrote that Progenics is “well-funded” to support the launch of Azedra and fund key pipeline programs.Progenics said it’s “regularly” exploring all its financing options.Without an appropriate settlement with the biotech company, Velan said it could look to remove other members of the board. The Alpharetta, Georgia-based firm could wait till next year’s annual meeting, or try to seek a vote earlier via consent solicitation from major shareholders, according to a person close to the firm.To contact the reporter on this story: Tatiana Darie in New York at email@example.comTo contact the editors responsible for this story: Catherine Larkin at firstname.lastname@example.org, Morwenna ConiamFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
ALPHARETTA, Ga., Aug. 12, 2019 /PRNewswire/ -- Velan Capital, L.P. (together with the other members of its group, "Velan" or "we"), one of the largest stockholders of Progenics Pharmaceuticals, Inc. ("Progenics" or the "Company")(PGNX), comprised of successful specialty pharmaceutical operators and financial services experts, today announced its disappointment with the Company's Q2 2019 results and lack of metrics to track future performance, and highlights key issues that illustrate the Company's continual mismanagement under the troubling status quo.
Every investor in Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) should be aware of the most powerful shareholder...
Progenics (PGNX) delivered earnings and revenue surprises of -9.52% and 55.72%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Recorded First Revenues for AZEDRA®; CMS Grants New Technology Add-On Payment of Up to $98,150 per Therapeutic Dose for Inpatient Use of AZEDRAEnrollment Completed Ahead of.
Progenics Pharmaceuticals, Inc. (PGNX), an oncology company developing innovative targeted medicines and artificial intelligence to find, fight and follow cancer, today announced a number of additional governance enhancements in response to shareholder feedback. The Board has accepted contingent resignations previously submitted by Peter J. Crowley and Michael D. Kishbauch, with an effective date of October 17, 2019, 90 days following the certification of the election results from the 2019 Annual Meeting of Shareholders, or such earlier time as the Board determines the responsibilities of the resigning directors have been sufficiently transitioned to the remaining Board members.
Progenics Pharmaceuticals, Inc. (PGNX), an oncology company developing innovative targeted medicines and artificial intelligence to find, fight and follow cancer, today announced that the Centers for Medicare & Medicaid Services (CMS) has approved a new technology add-on payment (NTAP) for AZEDRA® when administered in the hospital inpatient setting for Medicare beneficiaries in FY2020. The NTAP program will provide qualifying Medicare hospital inpatient cases with a payment, in addition to the standard-of-care Diagnostic Related Group (DRG) reimbursement, of up to 65% of the cost of AZEDRA for a period of two to three years, effective October 1, 2019. CMS has assigned a maximum payment of $98,150 for a patient treated with a dose of AZEDRA.
Progenics Pharmaceuticals, Inc. (PGNX), an oncology company developing innovative targeted medicines and artificial intelligence to find, fight and follow cancer, today announced that it has completed enrollment five months ahead of schedule in the Company’s Phase 3 CONDOR study evaluating the diagnostic performance and clinical impact of PyLTM (18F-DCFPyL) in men with biochemical recurrence of prostate cancer. PyL is the Company’s PSMA-targeted small molecule PET/CT imaging agent designed to visualize prostate cancer.
Progenics Pharmaceuticals, Inc. (PGNX) an oncology company developing innovative targeted medicines and artificial intelligence to find, fight and follow cancer, today announced that it will host a conference call and webcast to review second quarter ended June 30, 2019 financial results on Friday, August 9, 2019, at 8:30 a.m. ET. Forward looking statements generally will be accompanied by words such as “anticipate,” “believe,” “plan,” “could,” “should,” “estimate,” “expect,” “forecast,” “outlook,” “guidance,” “intend,” “may,” “might,” “will,” “possible,” “potential,” “predict,” “project,” or other similar words, phrases or expressions.
Progenics Pharmaceuticals, Inc. (PGNX), an oncology company developing innovative medicines and imaging technology for targeting and treating cancer, announced their collaboration with the VA Greater Los Angeles Healthcare System (VAGLAHS) on Progenics’ AI research program. The collaborative AI research program aims to apply machine learning to medical imaging modalities, enabling standardized, information-driven healthcare practices in prostate cancer.
ALPHARETTA, Ga., July 22, 2019 /PRNewswire/ -- Velan Capital, L.P. (together with the other members of its group, "Velan" or "we"), one of the largest stockholders of Progenics Pharmaceuticals, Inc. ("Progenics" or the "Company")(PGNX), comprised of successful specialty pharmaceutical operators and financial services experts, today announced that the final results of Progenics' 2019 Annual Meeting of Stockholders (the "Annual Meeting") confirm that stockholders have endorsed Velan's campaign for change at Progenics by voting against the re-election of Peter Crowley and Michael Kishbauch to the Progenics Board of Directors (the "Board") at the Annual Meeting, thereby requiring Messrs. Crowley and Kishbauch to tender their resignations to the Board, which will become effective upon acceptance by the Board. While Velan is extremely pleased to have received the support of its fellow Progenics stockholders, Velan remains deeply disappointed with the Board's continued refusal to reach a collaborative resolution that reflects the degree of change that it believes is necessary to put the Company on the right path forward.
BRIDGEWATER, N.J. and NEW YORK , July 17, 2019 /CNW/ -- Bausch Health Companies Inc. (NYSE/TSX: BHC) ("Bausch Health" or the "Company") and Progenics Pharmaceuticals (PGNX), announced today that the U.S. District Court of New Jersey upheld the validity and determined Actavis' infringement of a patent protecting RELISTOR® (methylnaltrexone bromide) tablets, expiring March 2031 . Defendant, Actavis Laboratories FL, Inc., a subsidiary of Teva Pharmaceutical Industries Ltd, had challenged the validity of and had alleged non-infringement of Claims 2 and 5 of U.S. Patent No. 8,524,276, which protects the formulation of RELISTOR® tablets. Bausch Health is not aware of any other ANDAs filed with the FDA seeking approval of a generic version of RELISTOR tablets, and will continue to vigorously defend its intellectual property in these and other claims.
Progenics Pharmaceuticals, Inc. (PGNX), an oncology company developing innovative targeted medicines and artificial intelligence to find, fight and follow cancer, today announced that, based on the preliminary voting results of its 2019 Annual Meeting of Shareholders, Progenics directors Mark R. Baker, Bradley L. Campbell, Karen J. Ferrante, David A. Scheinberg and Nicole S. Williams received a majority of the votes cast at the Annual Meeting, and Peter J. Crowley and Michael D. Kishbauch did not. In accordance with Progenics’ bylaws, Mr. Crowley and Mr. Kishbauch have each submitted a contingent resignation which will become effective only if the certification of the votes of the Annual Meeting confirms that they did not receive a majority of the votes cast and the Board of Directors accepts the resignation. As required under the Company’s bylaws, the Nominating and Corporate Governance Committee is considering these matters and will recommend to the Board the action to be taken with respect to the tendered contingent resignations. The Board will determine whether to accept such resignations, or what other action should be taken, in accordance with Progenics’ bylaws.
Progenics Pharmaceuticals, Inc. (PGNX), an oncology company developing innovative targeted medicines and artificial intelligence to find, fight and follow cancer, encourages all shareholders to vote today “FOR” all of the Board’s highly qualified and engaged nominees online or by telephone by following the easy instructions on the “WHITE” Proxy Card. It is imperative that shareholders vote as soon as possible. All shareholders’ votes are extremely important, no matter how many shares they own.
Agrees with ISS that "Board Level Change is Warranted, With the Ultimate Goal of Enhancing Shareholder Board Oversight" Urges Stockholders to Vote Before Thursday, July 11 Annual Meeting ALPHARETTA, ...
Progenics Pharmaceuticals, Inc. (PGNX), an oncology company developing innovative targeted medicines and artificial intelligence to find, fight and follow cancer, today announced the appointment of Huw Jones to the newly created role of Vice President, Commercial. Mr. Jones has over 30 years of global experience leading commercial strategy and operations in the pharmaceutical industry, including almost two decades at Novartis Pharmaceuticals and its subsidiaries, most recently at Advanced Accelerator Applications SA and Novartis Oncology, Ltd. “We are pleased to welcome Huw to our growing commercial operations team to support Progenics’ maturing portfolio of innovative radiopharmaceuticals for the detection and treatment of cancer.
There are several ways to beat the market, and investing in small cap stocks has historically been one of them. We like to improve the odds of beating the market further by examining what famous hedge fund operators such as Jeff Ubben, George Soros and Carl Icahn think. Those hedge fund operators make billions of […]
ALPHARETTA, Ga., July 1, 2019 /PRNewswire/ -- Velan Capital, L.P. (together with the other participants in its solicitation, "Velan" or "we"), one of the largest stockholders of Progenics Pharmaceuticals, Inc. ("Progenics" or the "Company")(PGNX), comprised of successful specialty pharmaceutical operators and financial services experts, today issued a statement reminding stockholders that now is the time to demand accountability at Progenics and to follow the recommendation of Institutional Shareholder Services Inc. ("ISS"), a leading independent proxy advisory firm, by voting AGAINST the election of Progenics directors Peter Crowley and Michael Kishbauch at the Company's upcoming Annual Meeting of Stockholders scheduled to be held on July 11, 2019 (the "Annual Meeting"). In its report, ISS endorsed our call for change on the Progenics Board of Directors (the "Board"), highlighting the Board's seeming unwillingness to recognize the underperformance of the Company under its guidance and noting the Board's failure to hold management accountable for numerous operational and strategic missteps.
Glass Lewis Believes Velan’s “Fundamental Operational and Corporate Governance Case Fails to Bear Fruit” Glass Lewis Agrees the Current Settlement Offer is Fair and “Would.