Progenics maintained at neutral by Merrill

Merrill Lynch analyst David Munno kept Progenics Pharmaceuticals Inc. at a neutral rating after the company's partner Wyeth said it would begin phase 3 studies for the IV form of methylnaltrexone for the treatment of post-operative ileus (POI) in the third quarter. A supplemental New Drug Application is possible by early 2008. The analyst projects peak sales of methylnaltrexone in POI to be about $75 million to $100 million. Shares of the Tarrytown, N.Y.-based pharmaceutical company were down 59 cents, or 2.75%, at $20.86 on volume of 204,640 shares versus the three-month running average of 250,276 shares. (Nasdaq: PGNX)

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