Boston, MA 06/12/2013 (wallstreetpr) – The share prices of Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) had surged by 30.98 percent to close at $4.82 per share for the end of last trading session on Tuesday. The shares of the company had been trading in the range of $3.81 to $4.86 per share during the day. The shares of Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) had recorded 52 week high price level of $11.00 per share and 52 week low price level of $1.41 per share.
Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) is primarily engaged in the research, development and commercialization of treatment therapeutics in the fields of oncology, virology, supportive care and gastroenterology. The company had recently presented the results of its studies related to oncology drug candidates at the Annual Meeting of the Society of Nuclear Medicine and Molecular Imaging at Vancouver, Canada.
The two product candidates discussed at the conference are MIP 1095 and Tc MIP 1404, which are new additions to the oncology drug products of Progenics Pharmaceuticals Inc. (NASDAQ:PGNX). The oncology pipeline of the pharmaceutical company is recently being expanded following the company’s acquisition of Molecular Insight Pharmaceuticals Inc.
The results of the research on the two drugs reported the enhancement of prostate targeted radiotherapy using MIP 1095 in combination with radiosensitizing chemotherapeutic drugs. The shares of Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) had thereby been surging in prices with heavy trading volumes owing to the success of the two cancer drugs.
The company had witnessed the trade of 2.04 million shares on Tuesday, while the average trading volume for the company is at 294,980 shares per day. Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) presently holds 51.04 million shares outstanding in the market with an institutional ownership of 82 percent of the total holdings.
