Progenics Pharmaceuticals (PGNX) Ends Hepatitis C Program PRO 206
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Progenics Pharmaceuticals, Inc. (Nasdaq: PGNX) today announced the discontinuation of development for PRO 206, a pre-clinical compound for the treatment of hepatitis C virus (HCV) infection.
Progenics said the decision was made as part of a portfolio review, and is in line with the Company's ongoing initiative to allocate resources to the most important programs in order to increase its operating efficiencies. The Company will instead focus on its second-generation HCV-entry inhibitor portfolio and anticipates selection of a new development candidate in 2010.
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