Biotech Values

[mcbio]

PGNX - PSMA ADC Phase 1 ASCO GU update

[Unfortunately, they don't clearly spell out the data as they did in the prior 8-K filing. Here's a link to the abstract on PGNX's Web site: http://www.progenics.com/sci_cal.cfm . In short, MTD has still not been identified and they are continuing to escalate the dose. Also, while some patients don't seem to have much benefit at all in a given dose cohort, there are some that have sharp declines in PSA and circulating tumor cells. Curious to hear any feedback here. I remain long PGNX though I am considering taking a little off the table given the sharp rise and a big binary event in April on Relistor. I do find this PSMA ADC a bit interesting though.]

http://biz.yahoo.com/e/120202/pgnx8-k.html

2-Feb-2012

Other Events

Item 8.01. Other Events.
Progenics Pharmaceuticals, Inc. (Nasdaq: PGNX) today presented a summary of current interim results from its ongoing phase 1 trial of the Company's PSMA ADC antibody-drug conjugate for the treatment of prostate cancer. The presentation, including data from 42 patients who have received doses ranging from 0.4 mg/kg to 2.8 mg/kg, was made at the 2012 Genitourinary Cancers Symposium, a meeting co-sponsored by the American Society of Clinical Oncology (ASCO), the American Society for Radiation Oncology (ASTRO) and the Society of Urologic Oncology (SUO) currently being held in San Francisco.

The presentation materials exhibited at the Symposium will be available for the next 30 days on the Events page of Progenics' website, www.progenics.com.

PSMA ADC is an antibody-drug conjugate designed to selectively deliver chemotherapy to cells that express prostate-specific membrane antigen, a validated biomarker of prostate cancer. Progenics' phase 1, dose-escalation trial is studying PSMA ADC in patients with taxane-refractory metastatic prostate cancer.