PROGENICS PHARM INC (PGNX) 4.07 $0.08 (2.01%) 11:06PM (15 mins delay)

Progenics: Investors Are Right To Be Wary

Oct 14, 2009 - 1:19 PM EDT

EP Vantage submits:

The termination of a licensing agreement between a big pharma company and small partner is often spun as an opportunity for the latter party, whilst a plummeting share price tells a completely different story.

This could well have been the situation for Progenics (PGNX) Wednesday, which announced that it had “regained the rights” to opioid-induced constipation drug Relistor from Wyeth (WYE), spelling the end to a four-year relationship.

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Source: Seeking Alpha (Oct 14, 2009 - 1:19 PM EDT)