Progenics Pharmaceuticals Reports Q4 EPs of $(0.57) vs. $(0.57)

Progenics Pharmaceuticals, Inc. PGNX today announced its results of operations for the fourth quarter ended December 31, 2010.

Net loss for the fourth quarter was $18.8 million or $0.57, basic and diluted, per share, compared to $0.6 million or $0.02, basic and diluted, per share in the fourth quarter of 2009.

Fourth quarter revenue totaled $2.2 million, compared to $17.2 million for the same period of 2009, reflecting a decrease in reimbursement revenue from Wyeth, now a Pfizer, Inc. PFE subsidiary, resulting from the transition of the Progenics-Wyeth collaboration for RELISTOR®, Progenics' drug approved for the treatment of opioid-induced constipation in advanced-illness patients.