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Progenics Pharmaceuticals Announces Pricing of Public Offering of Common Stock

April 1, 2005

Progenics Pharmaceuticals, Inc. announced the pricing of an underwritten public offering of 2 million shares of its common stock pursuant to an effective shelf registration statement. CIBC World Markets and UBS Investment Bank acted as joint book-running managers for the offering. The price to the public is $15.25, and proceeds to the company from the offering, net of expenses, are expected to be approximately $29.3 million.
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