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

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.
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  • skingsley
    , contributor
    Comments (40) | Send Message
     
    Recently saw a filing by Fidelity on share holdings. The question is when they bot the stock ? after the drop from $10 to $3.50 or are nowselling if they bot it higher??? Why was the CFO and others fired???/Did the company lose the pending Salix $40 million dollar payment?Not a pretty picture as of now and I have a lot of stock. Company did not respond as to whether they intend to refile the rejection letter by the FDA and approximately when. What projects did they drop ??Very vauge statement on this whole issue.
    20 Sep 2012, 10:28 PM Reply Like
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