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Progenics Pharmaceuticals Inc. (PGNX) Is Sinking On Phase 3 Study Results

Progenics Pharmaceuticals Inc. (PGNX) announced after the bell Wednesday that the co-primary endpoint of sensitivity of its Phase 3 study of 1404, its prostate specific membrane antigen, was not met.

Progenics Pharmaceuticals has gapped open sharply lower Thursday morning and is now down 1.22 at $6.07 on above average volume. The stock has tumbled to a 6 1/2 month low.

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