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Merrill keeps Progenics at neutral
Merrill Lynch analyst David Munno maintained Progenics Pharmaceuticals Inc. at a neutral rating. The company and its partner, Wyeth, presented final phase 3 Study 302 data for methylnaltrexone in patients with advanced medical illness. The study showed that almost half of constipated patients with advanced illness experienced bowel movement within four hours of receiving their first dose of drug, supporting earlier data from Study 301. Shares of the Tarrytown, N.Y., pharmaceutical company were up 29 cents, or 1.40%, at $21.06 on volume of 376,489 shares versus the three-month running average of 254,640 shares. (Nasdaq: PGNX)
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