This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
TARRYTOWN, N.Y., Aug. 9, 2013 (GLOBE NEWSWIRE) -- Progenics Pharmaceuticals, Inc. (Nasdaq:PGNX) today announced its results of operations for the quarter and six months ended June 30, 2013.
Net loss for the quarter was $12.3 million or $0.24 diluted per share, compared to net loss of $10.7 million or $0.32 diluted per share in the 2012 period. Net loss for the current six months was $23.5 million or $0.46 diluted per share, compared to $23.8 million or $0.70 diluted per share in 2012. Progenics ended the quarter with cash, cash equivalents and securities of $81.4 million, reflecting an increase of $23.0 million in the quarter and $19.4 million from 2012 year-end.
Second quarter revenue totaled $1.8 million, level with the 2012 period. Current and prior year first half revenues were both $4.0 million. Royalty income for the 2013 second quarter was $1.2 million compared to $1.6 million in the 2012 period, based on Relistor
® net sales (in millions) reported to Progenics by Salix of:
Three Months Ended
Six Months Ended
Second quarter research and development expense increased by $2.1 million compared to the prior year period, primarily due to higher clinical trial expenses for PSMA ADC and MIP-1404 acquired earlier this year in the Molecular Insight transaction and one-time real estate lease termination expenses, partially offset by lower compensation expense. Year-to-date research and development expense decreased by $0.1 million to $19.3 million. Second quarter general and administrative expense decreased by $0.6 million compared to the prior year period, primarily due to lower compensation expense, partially offset by higher consulting and professional fees. Year-to-date general and administrative expenses were level with the prior year period at $7.7 million.