1. After a Bitter Fight, Activist Boots Progenics Directors—and Eyes a CEO Swap Next

    After a Bitter Fight, Activist Boots Progenics Directors—and Eyes a CEO Swap Next

    Three of Progenics' directors could be out the door after activist investor Velan's picks were reportedly given the vote of approval from shareholders. (iStock) Progenics' board of directors has fought bitterly against activist investor Velan Capital, going so far as to sell out rather than lose the battle. Now, Velan reportedly has the shareholder votes to complete its revamp of the drugmaker's board––but the fight's not over yet...

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    1. The Company does not anticipate commenting further on the consents until the inspector has completed its tabulation and both parties have had the opportunity to review and challenge consents and revocations.
    2. Given this Board's troubling track record, this latest maneuver, while deeply concerning, is not surprising and only solidifies our belief that wholesale Board and leadership change at Progenics is urgently required.
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