Velan Files Definitive Proxy Materials in Connection with Progenics Pharmaceuticals 2019 Annual Meeting of Stockholders

ALPHARETTA, Ga., May 22, 2019 /PRNewswire/ -- Velan Capital, L.P. (together with the other participants in its solicitation, "Velan" or "we"), one of the largest stockholders of Progenics Pharmaceuticals, Inc. ("Progenics" or the "Company")(NASDAQ:PGNX), announced today that it has filed definitive proxy materials, including a GREEN proxy card, urging Progenics stockholders to vote AGAINST the re-election of Peter Crowley and Michael Kishbauch to the Progenics Board of Directors (the "Board") at the Company's 2019 Annual Meeting of Stockholders (the "Annual Meeting"). Velan also announced that it has mailed a letter to fellow Progenics stockholders detailing the Board's troubling track record of presiding over the destruction of significant stockholder value and calling on Progenics stockholders to send a strong message to the Board at the upcoming Annual Meeting that meaningful change is immediately required.

The full text of the letter Velan is mailing to Progenics stockholders can be viewed at the following link:

https://www.savepgnx.com/api/v1/files/11891bf0-e0ee-40b7-a6ee-08d6dea96f6f

Velan also launched a website, www.SavePGNX.com, which contains important stockholder materials in connection with its campaign for change at Progenics, including its definitive proxy statement for the Annual Meeting, and provides instructions for contacting its proxy solicitor, Okapi Partners LLC.

It is time for accountability at Progenics – Velan urges all stockholders to vote for change on the GREEN proxy card!

Investor contacts: 

Deepak Sarpangal  
(415) 677-7050 
[email protected]

Okapi Partners LLC 
Pat McHugh / Jason Alexander 
(212) 297-0720 
[email protected]

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SOURCE Velan Capital, L.P.