Progenics Pharmaceuticals (PGNX) announces a company-wide restructuring , including a reduction...

|About: Progenics Pharmaceuticals Inc. (PGNX)|By:, SA News Editor

Progenics Pharmaceuticals (PGNX) announces a company-wide restructuring , including a reduction of its workforce by 26%, to 77 employees, and the termination of several early stage research projects. The company will continue to focus on its oncology programs, adding that clinical development and manufacturing capabilities will also be unaffected. In additon, CFO Robert McKinney and SVP of Quality Benedict Osorio will be stepping down, effective September 30. Shares -1.1% AH.