Progenics Pharmaceuticals to Host Conference Call Tomorrow at 10:00 AM Eastern Time...

Thu Apr 24, 2008 9:14pm EDT

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Progenics Pharmaceuticals to Host Conference Call Tomorrow at 10:00 AM Eastern Time to Discuss the Approval of RELISTOR (Methylnaltrexone Bromide)

TARRYTOWN, N.Y.--(Business Wire)--
Progenics Pharmaceuticals, Inc. (Nasdaq: PGNX) will hold a
conference call tomorrow at 10:00 AM Eastern Time to discuss the U.S.
Food and Drug Administration's approval of RELISTOR(TM)
(methylnaltrexone bromide) for subcutaneous injection. RELISTOR is
indicated for the treatment of opioid-induced constipation in patients
with advanced illness receiving palliative care, when response to
laxatives has not been sufficient. It is the first pharmaceutical
product approved for this indication in the U.S.

To participate in the live call by telephone, please dial (888)
213-3926 from the U.S. or +1 (913) 312-1431 for international callers.
In addition, the live conference call is being webcast and can be
accessed on the "Investor" section of the Company's website at
www.progenics.com. Approximately one hour after the
teleconference concludes, a replay will be available on Progenics'
website or by dialing (888) 203-1112 from the US, or 1+719-457-0820
internationally, and entering passcode 6421086 when prompted. The
replay will be available through May 26, 2008.

About RELISTOR Subcutaneous Injection

RELISTOR, administered via subcutaneous injection, is a
peripherally acting mu-opioid receptor antagonist that counteracts the
constipating effects of opioid pain medications in the
gastrointestinal tract without affecting their ability to relieve
pain.

Opioids provide pain relief by specifically interacting with
mu-opioid receptors within the central nervous system (CNS) - the
brain and spinal cord. However, opioids also interact with mu-opioid
receptors found outside the CNS, such as those within the
gastrointestinal tract, resulting in constipation that can be
debilitating. RELISTOR selectively displaces opioids from the
mu-opioid receptors outside the CNS, including those located in the
gastrointestinal tract, thereby decreasing their constipating effects.
Because of its chemical structure, RELISTOR does not affect the
opioid-mediated analgesic effects on the CNS. The efficacy and safety
profile of RELISTOR was established in two phase 3 clinical trials.
Use of RELISTOR beyond four months has not been studied.

(PGNX-G)

About the Company

Progenics Pharmaceuticals, Inc., of Tarrytown, NY, is a
biopharmaceutical company focusing on the development and
commercialization of innovative therapeutic products to treat the
unmet medical needs of patients with debilitating conditions and
life-threatening diseases. Principal programs are directed toward
gastroenterology as well as the treatment of HIV infection and cancer.
The Company, in collaboration with Wyeth, is developing RELISTOR for
the treatment of opioid-induced side effects, including constipation
(oral and subcutaneous formulations) and postoperative ileus
(intravenous formulation). In the area of HIV infection, the Company
is developing the viral-entry inhibitor PRO 140, a humanized
monoclonal antibody targeting the HIV entry co-receptor CCR5, which
has completed phase 1b clinical studies with positive results. In the
area of prostate cancer, the Company is developing a human monoclonal
antibody drug conjugate - a selectively targeted cytotoxic antibody
directed against prostate-specific membrane antigen (PSMA), a protein
found on the surface of prostate cancer cells. Progenics is also
developing vaccines designed to stimulate an immune response to PSMA.

DISCLOSURE NOTICE: The information contained in this document is
current as of April 24, 2008. This press release contains
forward-looking statements. Any statements contained herein that are
not statements of historical fact may be forward-looking statements.
When the Company uses the words "anticipates," "plans," "expects" and
similar expressions, it is identifying forward-looking statements.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the Company's actual
results, performance or achievements, or industry results, to be
materially different from those expressed or implied by
forward-looking statements. Such factors include, among others, the
uncertainties associated with product development, the risk that
clinical trials will not commence or be completed as planned, the
risks and uncertainties associated with dependence upon the actions of
our corporate, academic and other collaborators and of government
regulatory agencies, the risk that our licenses to intellectual
property may be terminated because of our failure to have satisfied
performance milestones, the risk that product candidates that appear
promising in early clinical trials do not demonstrate efficacy in
larger-scale clinical trials, the risk that we may not be able to
manufacture commercial quantities of our products, the uncertainty of
future profitability and other factors set forth more fully in the
Company's Annual Report on Form 10-K for the fiscal year ended
December 31, 2007, and other reports filed with the U.S. Securities
and Exchange Commission, to which investors are referred for further
information. In particular, the Company cannot assure you that any of
its programs will result in a commercial product. Progenics does not
have a policy of updating or revising forward-looking statements and
assumes no obligation to update any forward-looking statements
contained in this document as a result of new information or future
events or developments. Thus, it should not be assumed that the
Company's silence over time means that actual events are bearing out
as expressed or implied in such forward-looking statements.

Editor's Note:

Additional information on Progenics is available at
www.progenics.com

Progenics Pharmaceuticals, Inc.
Investors:
Richard W. Krawiec, Ph.D., 914-789-2814
Vice President
Corporate Affairs
rkrawiec@progenics.com
or
Dory A. Lombardo, 914-789-2818
Senior Manager
Corporate Affairs
dlombardo@progenics.com
or
Media:
WeissComm Partners
Aline Schimmel, 312-284-4706