Progenics kept at neutral by Merrill

Progenics Pharmaceuticals Inc. was maintained at a neutral rating by Merrill Lynch analyst David Munno on news of the company's uneventful second-quarter earnings. According to the analyst, the next catalysts for Progenics will be updates of the upcoming methylnaltrexone trial starting in post-operative ileus and opioid induced constipation. The trial is expected to begin in the second half of 2006 or early 2007. Shares of the Tarrytown, N.Y.-based pharmaceutical company were down 29 cents, or 1.39%, at $20.64, on volume of 193,351 shares versus the three-month running average of 217,377 shares. (Nasdaq: PGNX)

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