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Velan Releases Detailed Presentation on Progenics Pharmaceuticals

ALPHARETTA, Ga., June 20, 2019 /PRNewswire/ -- Velan Capital, L.P. (together with the other participants in its solicitation, "Velan" or "we"), one of the largest stockholders of Progenics Pharmaceuticals, Inc. ("Progenics" or the "Company")(NASDAQ:PGNX), comprised of successful specialty pharmaceutical operators and financial services experts, today announced that it has issued a detailed presentation on the Company in connection with the upcoming 2019 Annual Meeting of Stockholders to be held on July 11, 2019 (the "Annual Meeting").  In the presentation, Velan details the persistent share price underperformance, lack of stockholder alignment, operational and strategic missteps, governance and accountability failures, and transparency shortcomings that have occurred under the watch of the Progenics Board of Directors (the "Board"), which Velan believes have caused the destruction of significant stockholder value. 

Velan's detailed presentation titled "Change is Necessary to Drive Long-Term Success at Progenics Pharmaceuticals, Inc." can be viewed by clicking the following link:

The Company's slogan is "Find, Fight, and Follow" – we urge stockholders to "Find" the status quo unacceptable, "Fight" years of value destruction and squandered opportunities, and "Follow" our call to action by voting AGAINST the re-election of Messrs. Crowley and Kishbauch on the GREEN proxy card.

It is time for accountability at Progenics – Velan urges all stockholders to vote for change on the GREEN proxy card today!

Investor contacts:

Deepak Sarpangal
(415) 677-7050

Okapi Partners LLC
Pat McHugh / Jason Alexander
+1 (888) 785-6673

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SOURCE Velan Capital, L.P.

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Last Updated: 20-Jun-2019