Short Interest Update on Progenics Pharmaceuticals (PGNX)

Progenics Pharmaceuticals (PGNX) : The short interest in Progenics Pharmaceuticals (PGNX) has increased from 9,206,470 to 10,136,448 from Jul 29, 2016, to August 15, 2016, indicating that the traders are bearish on the stock. On an average, 1,722,819 shares are traded daily in the stock and only 6 days are left for the shorts to cover. The short open interest is 14.7% of the total shares in the hands of the public. The shorts in the stock have gone up by 929,978 shares, which is an increase of 10.1% over the previous reading. The short interest information was released on Wednesday Aug 24th after the market close.

Progenics Pharmaceuticals (NASDAQ:PGNX): The stock opened at $6.82 on Wednesday but the bulls could not build on the opening and the stock topped out at $7.09 for the day. The stock traded down to $6.52 during the day, due to lack of any buying support eventually closed down at $6.56 with a loss of -4.09% for the day. The stock had closed at $6.84 on the previous day. The total traded volume was 1,620,350 shares.


In a related news, Maddon Paul J, director of Progenics Pharmaceuticals Inc, executed a transaction worth $24,500 on December 1, 2010. A total of 5,000 shares were purchased at an average price of $4.9. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.

Progenics Pharmaceuticals, engaged in developing medicines for oncology. The Company completed Phase II clinical trials of two product candidates for prostate cancer, and resumed a pivotal Phase II trial of an ultra-orphan radiotherapy candidate for pheochromocytoma. Its principal clinical-stage product candidates in oncology are PSMA ADC, 1404 (trofolastat) and Azedra. PSMA ADC is a human monoclonal antibody-drug conjugate designed to deliver a chemotherapeutic agent to cancer cells by targeting the three-dimensional structure of the PSMA protein. 1404 (trofolastat) is a radio-labeled small molecule, which binds PSMA and acts as an imaging agent to diagnose and detect prostate cancer. Azedra is a radiotherapeutic product candidate in development as a treatment for pheochromocytoma, a rare tumor found in the adrenal glands, and related paraganglioma tumors occurring in other tissues. The Company also commercializes Relistor, a cure for opioid-induced constipation (OIC).

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