Business in the Burbs

Progenics stock rises on drug trial news

May

Progenics Pharmaceuticals Inc. of Eastview and its research partner, Wyeth Pharmaceuticals, announced good and bad news concerning drug trials on its treatment for side effects of painkillers. Investors focused on the positive, and Progenics stock rose 9.79 percent today.
The companies said that a phase 2 study of an oral form of its Relistor drug for the treatment of constipation showed statistically significant improvements in patients. A phase 3 study of an intravenous form of Relistor on post-operative gastrointestinal function, however, fell short of research goals.
Progenics stock closed at $14.47, up $1.29.

This entry was posted on Thursday, May 22nd, 2008 at 4:17 pm by Jerry Gleeson.
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