Progenics Pharmaceuticals, Inc. Cuts 26% of Jobs, Replaces CFO

Published: Sep 21, 2012

Progenics Pharmaceuticals Inc cut 26 percent of its workforce and replaced its chief financial officer to focus on its cancer programs after U.S. health regulators did not approve its constipation drug for use in a wider population. Chief Financial Officer Robert McKinney and Senior Vice President Benedict Osorio will step down on September 30. Treasurer Angelo Lovallo will become principal financial officer and principal accounting officer, Progenics said. Progenics's only marketable injection, Relistor, treats opioid-induced constipation in patients with advanced illnesses.

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