Business in the Burbs

Eastview-based Progenics Pharmaceuticals reports loss

May

Progenics Pharmaceuticals Inc., an Eastview-based biotechnology research company, reported this morning that it lost $10.4 million, or 40 cents a share, during the first quarter, compared with a loss of $2.6 million, or 10 cents a share, during the first three months of 2006.

Revenues rose to $17.6 million from $11 million. The company said the increase in revenues was mainly due to reimbursement Progenics received from drug company Wyeth for development work performed by Progenics under an agreement.

Progenics shares closed at $23.92 yesterday, down 29 cents.

This entry was posted on Wednesday, May 9th, 2007 at 9:21 am by Allan Drury. You can follow any responses to this entry through the RSS 2.0 feed.
Category: Earnings season

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