Velan Capital confirms Progenics' stockholders endorse change
Velan Capital, one of the largest stockholders of Progenics Pharmaceuticals, announced that the final results of Progenics' 2019 Annual Meeting of Stockholders confirm that stockholders have endorsed Velan's campaign for change at Progenics by voting against the re-election of Peter Crowley and Michael Kishbauch to the Progenics Board of Directors at the Annual Meeting, thereby requiring Messrs. Crowley and Kishbauch to tender their resignations to the Board, which will become effective upon acceptance by the Board. While Velan is extremely pleased to have received the support of its fellow Progenics stockholders, Velan remains deeply disappointed with the Board's continued refusal to reach a collaborative resolution that reflects the degree of change that it believes is necessary to put the Company on the right path forward. The company ended,"Stockholders have spoken and we believe the mandate is clear. It is time for the Board to take its responsibilities at Progenics seriously or face the prospect of continued broad discontent and the potential for further steps to protect the interests of all stockholders."