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Progenics Pharmaceuticals Inc Announces Acquisition Of Molecular Insight Pharmaceuticals, Inc

Tuesday, 22 Jan 2013 07:30am EST 

Progenics Pharmaceuticals Inc announced that it has acquired Molecular Insight Pharmaceuticals, Inc., a clinical-stage private biotechnology company with a small molecule chemistry pipeline aimed at enhancing cancer treatment. Under the terms of the all-stock transaction, Progenics exchanged 4,566,210 shares of common stock (8.9% of the total outstanding post-transaction shares) for all of the outstanding shares of Molecular Insight, which will become a wholly owned subsidiary of Progenics. Molecular Insight has no debt. Progenics may make additional milestone payments to the former owners of Molecular Insight based on future commercial sales of the Company's compounds. No royalties are due to the former owners of Molecular Insight. 

Company Quote

-0.06 -1.22%
22 Jul 2014