Why Progenics Pharmaceuticals Sank Today [The Motley Fool]
PROGENICS PHARMACEUTICALS (PGNX)
Last progenics pharmaceuticals earnings: 8/9 07:30 am
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progenics.com
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Source: The Motley Fool
An FDA delay has investors worried. Brian Orelli ( TMFBiologyFool ) Mar 23, 2018 at 1:25PM What happened Shares of Progenics Pharmaceuticals ( NASDAQ:PGNX ) are down 10.5% at 12:53 p.m. EDT Friday after announcing after the bell yesterday that the Food and Drug Administration will take an additional three months to review the marketing application for Azedra, a treatment for malignant, recurrent, and/or unresectable pheochromocytoma and paraganglioma, which are rare types of neuroendocrine tumors. So what Investors had been piling into Progenics' stock ahead of an FDA decision that was expected on or before the Prescription Drug User Fee Act (PDUFA) action date of April 30. But the guidelines laid out in PDUFA allow the FDA to extend its goal date by three months when a company submits extensive additional data during the review. In this c
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