- Progenics Pharmaceuticals (PGNX) rallies 7% before the bell.
- The company is restarting a Phase 2b study of Azedra in pheochromocytomas.
- Molecular Insight Pharmaceuticals suspended the trial back in 2010 in order to find more funding. PGNX acquired the company earlier this year.
- Once the study is complete, PGNX says it "intends to submit a NDA and request priority review to receive FDA action on the application within six months instead of the standard ten."
- Azedra has Orphan Drug and Fast Track designations. (PR)