TARRYTOWN, N.Y.--(BUSINESS WIRE)--Progenics Pharmaceuticals, Inc. (Nasdaq: PGNX) today announced its results of operations for the quarter ended March 31, 2007. Revenues for the quarter ended March 31, 2007 totaled $17.6 million compared to revenues of $11.0 million for the same period in 2006. Revenues for the quarter primarily reflect reimbursement by Wyeth for development work performed by the Company under our methylnaltrexone collaboration ($10.5 million in 2007 and $4.1 million in 2006), recognition of a portion of the $60 million upfront payment received from Wyeth in December 2005 ($5.0 million in 2007 and $4.4 million in 2006) and funding from government grants and contracts ($2.1 million in 2007 and $2.5 million in 2006).
