BioCentury
ARTICLE | Financial News

Progenics raises $22 million in follow-on

November 30, 2012 2:26 AM UTC

Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) raised $22 million through the sale of 11 million shares at $2 in a follow-on underwritten by Jefferies. In September, Progenics restructured and said it would focus on its cancer pipeline, which includes PSMA ADC. The auristatin-conjugated human mAb against prostate-specific membrane antigen (PSMA; FOLH1; GCPII) is in Phase II testing to treat metastatic castration-resistant prostate cancer (CRPC). On Thursday, Progenics was up $0.15 to $2.26. ...