Velan sets the Record Straight on Progenics Pharmaceuticals' Latest Misleading Statements
PROGENICS PHARMACEUTICALS (PGNX)
Last progenics pharmaceuticals earnings: 8/9 07:30 am
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US:NASDAQ Investor Relations:
progenics.com
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Source: PR Newswire
ALPHARETTA, Ga., June 17, 2019 /PRNewswire/ -- Velan Capital, L.P. (together with the other participants in its solicitation, "Velan" or "we"), one of the largest stockholders of Progenics Pharmaceuticals, Inc. ("Progenics" or the "Company")(NASDAQ:PGNX), comprised of successful specialty pharmaceutical operators and financial services experts, today issued the following statement responding to certain misleading claims made by the Progenics Board of Directors (the "Board").On June 13, 2019, the Board delivered a second letter to "fellow shareholder[s]" touting a commitment "to enhancing the value of [their] investment." Due to the Board's apparent desire to preserve the status quo and distract stockholders from the issues plaguing the Company – where minimal stock ownership in the boardroom, lackluster operational performance, endless stockholder dilution and hefty compensation are all acceptable under the current regime – the Board has elected to engage in a campaign of misinformati
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