When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
PGNX - Progenics: Ready To Decouple From Lantheus After PyL Data
Progenics Pharmaceuticals Inc.
Back in October, Lantheus Holdings (LNTH) and Progenics Pharmaceuticals (PGNX) publicized their agreement for Lantheus to purchase Progenics in an all-stock transaction. Despite some synergies between the companies, it appears a large portion of Progenics’ shareholders are not in favor of the transaction, including Velan Capital which is concerned that the deal undervalues PGNX. To make matters worse, the deal was going to value Progenics at roughly $500M-$600M, but both stocks have experienced significant selling pressure over the past few months (Figures 1 & 2). At the time of the deal,