Why Progenics Pharmaceuticals, Inc.'s Shareholders Came to Their Senses [The Motley Fool]
PROGENICS PHARMACEUTICALS (PGNX)
Last progenics pharmaceuticals earnings: 8/9 07:30 am
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Source: The Motley Fool
The biotech progresses, but it should have been expected. Brian Orelli ( TMFBiologyFool ) Dec 29, 2017 at 1:21PM What happened Progenics Pharmaceuticals ( NASDAQ:PGNX ) was up as much as 23% this morning after announcing that the FDA accepted the marketing application for its cancer drug Azedra. Investors have since come to their senses, with shares trading up 4.2% at 12:09 p.m. EST. Image source: Getty Images. So what The FDA does a cursory review when it accepts the application and can refuse to file the application if it doesn't meet the agency's standards; getting a refuse to file ruling would typically send shares down, but meeting the low bar of getting the application accepted doesn't justify a double-digit increase. That goes double for Progenics since the FDA had already signed off on the clinical trial design under a Special
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