Progenics Stockholders Approve Merger with Lantheus

NEW YORK, June 16, 2020 (GLOBE NEWSWIRE) -- Progenics Pharmaceuticals, Inc. (Nasdaq: PGNX) (“Progenics”), an oncology company developing innovative medicines and artificial intelligence to find, fight and follow cancer, announced that at a special meeting of its stockholders held earlier today, Progenics’ stockholders voted to approve its proposed merger with Lantheus Holdings, Inc. (“Lantheus”), a leader in the development, manufacture and commercialization of innovative diagnostic imaging agents and products, by adopting the previously announced Amended and Restated Agreement and Plan of Merger, dated as of February 20, 2020 (the “Merger Agreement”), by and among Progenics, Lantheus and Plato Merger Sub, Inc., a wholly-owned subsidiary of Lantheus (“Merger Sub”), pursuant to which Merger Sub will be merged with and into Progenics (the “merger”), with Progenics surviving the merger as a wholly-owned subsidiary of Lantheus.

Based on a preliminary tabulation of the stockholder vote, approximately 99% of the votes cast (excluding abstentions), which represents approximately 75% of Progenics’ shares issued and outstanding as of the close of business on the May 12, 2020 record date, were voted in favor of the proposal to adopt the Merger Agreement. Also, at the special meeting, Progenics’ stockholders approved, on a non-binding, advisory basis, the compensation that will or may be paid or provided by Progenics to its named executive officers in connection with the merger.

“Progenics’ Board of Directors would like to thank our stockholders for their continued support and commitment over the last nine months. The Board is pleased with the approval of our merger with Lantheus under the revised terms, which we believe represents the best pathway forward to maximize stockholder value and escalate the advancement of our portfolio of radiopharmaceuticals for the detection and treatment of cancer,” said Ann MacDougall, Interim Chair of Progenics’ Board. “We also want to recognize and thank the Progenics employees for their unwavering dedication to the Company’s success and the continued progression of our development programs through the extended transaction process.”