Progenics Pharmaceuticals is developing innovative medicines for oncology, with a pipeline that includes several product candidates in later-stage clinical development. The company was founded in 1986 and is based in Tarrytown, New York.
Lantheus Holdings, Inc. (the "Company") (NASDAQ: LNTH), the parent company of Lantheus Medical Imaging, Inc. ("LMI"), a global leader in the development, manufacture and commercialization of innovative diagnostic imaging agents and products, today announced that it has completed its previously announced merger with Progenics Pharmaceuticals, Inc. ("Progenics") (Nasdaq: PGNX), an oncology company developing innovative medicines and artificial intelligence to find, fight and follow cancer. The merger agreement was first announced on October 2, 2019.
Independent Bank Group Inc. (NASD: IBTX) will replace Progenics Pharmaceuticals Inc. (NASD: PGNX) in the S&P; SmallCap 600 effective prior to the opening of trading on Monday, June 22. S&P; Small-Cap 600 constituent Lantheus Holdings Inc. (NASD: LNTH) is acquiring Progenics Pharmaceuticals in a deal expected to be completed on or about June 19 pending final conditions. Post-acquisition, Lantheus Holdings will remain in S&P; SmallCap 600.
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Progenics Pharmaceuticals, Inc. ("Progenics" or the "Company") (NASDAQ: PGNX) in connection with the proposed acquisition of the company by Lantheus Holdings, Inc. ("LNTH") (NASDAQ: LNTH). Under the terms of the acquisition agreement, PGNX shareholders will receive 0.31 shares of LNTH for each PGNX share they own, representing implied per-share merger consideration of only $3.96 based on LNTH's May 26, 2020 closing price of $12.77.
Progenics Pharmaceuticals, Inc. (PGNX), an oncology company developing innovative medicines and artificial intelligence to find, fight and follow cancer, today announced that the results from the Phase 3 CONDOR trial evaluating the diagnostic performance and clinical impact of PyLTM (18F-DCFPyL) in men with biochemical recurrence of prostate cancer will be presented in an oral session at the American Society of Clinical Oncology (ASCO) 2020 Virtual Scientific Program. PyL is the Company’s PSMA-targeted small molecule positron emission tomography (PET) imaging agent designed to visualize prostate cancer.