Dallas, Texas 09/16/2013 (Financialstrend) – Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) has announced that an innovative and highly-experienced leader in the health-care industry, Michael D. Kishbauch,
has been elected to the company’s Board of Directors. Stephen P. Goff, Ph.D., who had been on the Board since the year 1993, has retired. Kishbauch has been in the industry for close to three decades and has held very senior management-positions in the life-sciences industry. Most recently, he was the President and Chief Executive officer of Achillion Pharmaceuticals
Mr. Kishbauch has vast operational, product-planning, strategic, promotion, marketing sales and product-launch experience. Before Achillion, he founded and served as President and CEO of OraPharma. This is a publicly-traded, commercial-stage pharma company that focuses on oral health care. Johnson & Johnson acquired OraPharma.
In Friday’s trading, Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) stock rose by 2.63%. The opening price of the shares was $ 5.73 which touched an intraday high of $5.92 and dipped to close at $5.85. Approximately 0.933 million shares were traded on Friday while the average volume of shares traded over 30 days was 0.558. The company has a market cap of $355.82 million.
About the company
Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) is a bio-pharma company. It focuses on R&D for bio-technology product candidates in the fields of virology, oncology, supportive-care and gastroenterology. The company is also involved in research to identify multiplex-phosphoinositide 3-kinase inhibitors that are used in blocking signaling-pathways in the growth of various aggressive cancers.
In gastroenterology, the company’s 1st commercial product RELISTOR is a subcutaneous injection. PSMA ADC is its primary product candidate. This fully-human monoclonal antibody drug-conjugate is directed against prostate-specific membrane antigen. This is a protein that is found at very high levels on the surface of the prostate cancer cells. It is also found on the neovasculature of numerous types of solid tumors. In 2013 January 2013, Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) acquired Molecular Insight Pharmaceuticals.