Progenics urges shareholders to vote for its director candidates
Progenics Pharmaceuticals encourages all shareholders to vote "FOR" all of the Board's highly qualified and engaged nominees online or by telephone by following the easy instructions on the "WHITE" Proxy Card. The company said, "The Board unanimously recommends the election of Peter Crowley, Mark Baker and Michael Kishbauch, all of whom have played an instrumental role in the creation and development of the Company's strategy that has resulted in key advancements in our oncology pipeline, and continue to be critical to Progenics' long-term success. Here are the facts: Progenics is achieving significant progress in advancing life-saving treatments for cancer. Progenics is making progress on its strategy and is working diligently to advance its pipeline and make a difference in the lives of patients. The Board and management team have been integral to the successful development and execution of the Company's strategic business plan, which has now delivered the first commercial sale of AZEDRA. Progenics' Board has the right expertise and is best-positioned to hold management accountable and guide the Company to long-term success. The Board is and has been central to the successful implementation of Progenics' strategy, and is committed to enhancing value for all shareholders. The removal of any of the Board's directors would risk derailing the Company at a key inflection point...Velan Capital is attempting to derail our significant progress and ultimately to gain control of the Board at the expense of ALL Progenics shareholders. The addition of any of Velan's candidates - all of whom are interconnected through a web of past experiences and some of whom are associated with unlawful pricing practices - will introduce substantial risk to shareholders and key constituencies. Velan has demonstrated its lack of understanding of and commitment to Progenics' business on multiple occasions, and its candidates lack the requisite experience to contribute effectively to the Board. The Company is at a crucial moment of growth that calls for an experienced Board with a clear commitment to ESG principles...The Board continues to be open to reaching a constructive settlement with Velan...Leading independent proxy advisory firms Glass Lewis and Egan-Jones endorse Progenics' directors and recommend that shareholders vote on Progenics' WHITE card for ALL of the Company's directors."