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Progenics Pharmaceuticals Inc (PGNX) SEC Filing 10-Q Quarterly report for the period ending Sunday, March 31, 2019

Progenics Pharmaceuticals Inc

CIK: 835887 Ticker: PGNX

Exhibit 99.1

 

Progenics Pharmaceuticals, Inc.

One World Trade Center

47th Floor, Suite J

New York, New York 10007

(646) 975-2500

www.progenics.com

 

 

PROGENICS PHARMACEUTICALS ANNOUNCES FIRST QUARTER 2019 FINANCIAL RESULTS AND BUSINESS UPDATE

 

AZEDRA® (iobenguane I 131) U.S. Commercial Launch Advancing with 22 Treatment Requests from Patients Received and 12 Centers Throughout the U.S. are Ready to Treat Patients

Phase 2 Trial of 1095 Initiated with Enrollment to Begin 2Q 2019

Phase 3 CONDOR Trial of PyLTM Enrolling Ahead of Schedule

First Quarter 2019 RELISTOR® Worldwide Net Sales Total $27.7 Million, up 36% over Q1 2018

 

NEW YORK, NY, May 9, 2019 – Progenics Pharmaceuticals, Inc. (Nasdaq:PGNX) today announced financial results for the first quarter 2019 and provided a business update.

 

“We are excited to report that the U.S. commercial launch of AZEDRA for the treatment of advanced or metastatic pheochromocytoma and paraganglioma is proceeding well and as expected. We will record our initial AZEDRA revenues in the second quarter,” said Mark Baker, Chief Executive Officer of Progenics.

 

Mr. Baker continued, “We have also made excellent progress across our PSMA-targeted prostate cancer pipeline designed to find, fight and follow cancer. Today we announced that we have initiated our Phase 2 trial for 1095, our small molecule radiotherapeutic, and will begin actively enrolling patients in this important study this quarter. Our PyL program has been attracting increased interest from treating physicians based on the data highlighting PyL’s clinical utility and potential to improve treatment decision making. Our Phase 3 CONDOR study is enrolling ahead of schedule, with more than 50% of patients now enrolled, and the data presented earlier this week at American Urological Association’s Annual Meeting showcased PyL’s significant diagnostic advantages compared to traditional imaging modalities. We continue to partner with leading organizations worldwide, including Curium, in order to maximize the reach of our prostate cancer imaging agents and address unmet needs in the detection and therapeutic management of prostate cancer. We look forward to building on our positive momentum as we diligently execute our strategy to improve the lives of patients we serve and deliver value for our shareholders.”

 

First Quarter and Recent Key Business Highlights

 

AZEDRA (iobenguane I 131) 555 MBq/mL injection for intravenous use, Ultra-orphan Radiotherapeutic

 

U.S. Launch of AZEDRA Progressing with 22 Treatment Requests from Patients Received and 12 Centers Throughout the U.S. are Ready to Treat Patients

AZEDRA is the first and only approved therapy in the U.S. for the treatment of adult and pediatric patients 12 years and older with iobenguane scan positive, unresectable, locally advanced or metastatic pheochromocytoma or paraganglioma who require systemic anticancer therapy. As of today, there are 12 multidisciplinary treatment centers across the U.S. activated for patient treatment and 22 treatment requests have been received and patients have been scheduled for treatment.

 

 

The following information was filed by Progenics Pharmaceuticals Inc (PGNX) on Thursday, May 9, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Progenics Pharmaceuticals Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (Current Period Unaudited)
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals)
Condensed Consolidated Statement Of Stockholders' Equity (Unaudited)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Loss (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Note 1 - Summary Of Significant Accounting Policies
Note 1 - Summary Of Significant Accounting Policies (Details Textual)
Note 1 - Summary Of Significant Accounting Policies (Tables)
Note 1 - Summary Of Significant Accounting Policies - Disaggregation Of Revenue (Details)
Note 1 - Summary Of Significant Accounting Policies - Property And Equipment (Details)
Note 10 - Non-Recourse Long-Term Debt, Net
Note 10 - Non-Recourse Long-Term Debt, Net (Details Textual)
Note 10 - Non-Recourse Long-Term Debt, Net (Tables)
Note 10 - Non-Recourse Long-Term Debt, Net - Summary Of Royalty-Backed Loan (Details)
Note 11 - Stockholders' Equity
Note 11 - Stockholders' Equity (Details Textual)
Note 12 - Stock-Based Compensation
Note 12 - Stock-Based Compensation (Details Textual)
Note 12 - Stock-Based Compensation (Tables)
Note 12 - Stock-Based Compensation - Allocation Of Recognized Period Costs (Details)
Note 12 - Stock-Based Compensation - Assumptions Used In Computing The Fair Value Of Option Grants (Details)
Note 12 - Stock-Based Compensation - Summary Of Option Activity Under The Plans (Details)
Note 2 - New Accounting Pronouncements
Note 2 - New Accounting Pronouncements (Details Textual)
Note 3 - Net Loss Per Share
Note 3 - Net Loss Per Share (Tables)
Note 3 - Net Loss Per Share - Calculations Of Net (Loss) Income Per Share, Basic And Diluted (Details)
Note 3 - Net Loss Per Share - Common Shares Excluded From Calculation Of Diluted Net (Loss) Income Per Share (Details)
Note 4 - Fair Value Measurements
Note 4 - Fair Value Measurements (Details Textual)
Note 4 - Fair Value Measurements (Tables)
Note 4 - Fair Value Measurements - Assets And Liabilities Measured At Fair Value On Recurring Basis (Details)
Note 4 - Fair Value Measurements - Contingent Consideration Liabilities (Details)
Note 4 - Fair Value Measurements - Quantitative Information For Fair Value Measurement Of Level 3 (Details)
Note 4 - Fair Value Measurements - Summary Of Activities In Financial Instruments With Level 3 Inputs (Details)
Note 5 - Accounts Receivable
Note 5 - Accounts Receivable (Tables)
Note 5 - Accounts Receivable - Summary Of Accounts Receivable (Details)
Note 6 - Recent Acquisition, Goodwill, In-Process Research And Development And Other Intangible Assets - Components Of Finite-Lived Intangible Assets (Details)
Note 6 - Recent Acquisition, Goodwill, In-Process Research And Development And Other Intangible Assets - Consideration And Assets Acquired (Details)
Note 6 - Recent Acquisition, Goodwill, In-Process Research And Development And Other Intangible Assets - Summary Of Goodwill And Intangible Assets (Details)
Note 6 -Recent Acquisition, Goodwill, In-Process Research And Development And Other Intangible Assets
Note 6 -Recent Acquisition, Goodwill, In-Process Research And Development And Other Intangible Assets (Details Textual)
Note 6 -Recent Acquisition, Goodwill, In-Process Research And Development And Other Intangible Assets (Tables)
Note 7 - Accrued Expenses
Note 7 - Accrued Expenses (Tables)
Note 7 - Accrued Expenses - Summary Of Accrued Expenses (Details)
Note 8 - Commitments And Contingencies
Note 8 - Commitments And Contingencies (Details Textual)
Note 9 - Operating Leases
Note 9 - Operating Leases (Details Textual)
Note 9 - Operating Leases (Tables)
Note 9 - Operating Leases - Future Lease Payments (Details)
Note 9 - Operating Leases - Lease Information (Details)
Significant Accounting Policies (Policies)

Material Contracts, Statements, Certifications & more

Progenics Pharmaceuticals Inc provided additional information to their SEC Filing as exhibits

Ticker: PGNX
CIK: 835887
Form Type: 10-Q Quarterly Report
Accession Number: 0001437749-19-009286
Submitted to the SEC: Thu May 09 2019 12:02:58 PM EST
Accepted by the SEC: Thu May 09 2019
Period: Sunday, March 31, 2019
Industry: Pharmaceutical Preparations

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