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news.Progenics Pharmaceuticals has reported total revenues of $2.39m for the first quarter ended 31 March 2011, compared to $1.52m for the same period in 2010.
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The company has reported a net loss of $22.93m, or $0.69 loss per diluted share, compared to net loss of $18.58m or $0.58 loss per diluted share, for the same period last year.
Progenics Pharma’s operating loss was $22.95m, as compared to $18.6m for the same period prior year.
Progenics CEO Mark Baker said the most significant event of the first quarter was completing a license agreement for Relistor with Salix Pharmaceuticals.
"I believe Salix’s sales and marketing capabilities, and expertise in gastroenterology, are an ideal combination of expertise to drive Relistor’s development and commercialization at this important juncture," Baker said.