TARRYTOWN, N.Y.--(BUSINESS WIRE)--Progenics Pharmaceuticals, Inc. (NASDAQ: PGNX) announced today the pricing of an underwritten public offering of 2,600,000 shares of its common stock pursuant to an effective shelf registration statement. UBS Investment Bank, CIBC World Markets and Morgan Stanley acted as joint book-running managers for the offering. The price to the public is $23.15, and proceeds to the Company from the offering, net of underwriting discounts and commissions and expenses, are expected to be approximately $57.1 million. Progenics intends to use the net proceeds from this offering to fund clinical trials of its product candidates, for research and development programs, and for other corporate purposes. The Company has granted to the underwriters of the offering an option to purchase an additional 390,000 shares to cover over-allotments in the offering, if any. All of the shares in the offering are being sold by Progenics.
