**For      Immediate Release**

| **Contact:** | **Investors:**Progenics                Pharmaceuticals, Inc.Richard                W. Krawiec, Ph.D.Vice                PresidentCorporate                Affairs(914)                789-2814rkrawiec@progenics.com | **Media:**Barri                WiniarskiWeissComm                Partners(914)                584-7468 |
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**PROGENICS      ANNOUNCES POSITIVE RESULTS IN CLINICAL TRIAL OF NOVEL HIV      THERAPY**

*-      Single dose of CCR5 monoclonal antibody PRO 140 significantly reduced viral      load      for prolonged period in HIV-infected individuals -*

**Tarrytown,      NY**

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**Clinical      trial design and study results**

|                                                                                                 | **Placebo****(n=9)** | **0.5                mg/kg****(n=10)** | **2.0                mg/kg****(n=10)** | **5.0                mg/kg****(n=10)** |
|------------------------------------------------------------------------------------------------------|----------------------|----------------------------------------|----------------------------------------|----------------------------------------|
| **Mean                maximum log****10****change                in HIV RNA**                        | -0.39                | -0.58(p=0.34)                          | -1.20(p=0.0002)                        | -1.83(p<0.0001)                     |
| **Mean                log****10****change in HIV RNA 9 days post-treatment**                         | -0.13                | -0.37(p=0.26)                          | -1.04(p=0.0001)                        | -1.70(p<0.0001)                     |
| **Number                of patients with a ≥1.0 log****10****decrease in HIV RNA at any time** | 0/9                  | 1/10(p=1.0)                            | 6/10(p=0.011)                          | 10/10(p<0.0001)                     |

****      P values are from an analysis of variance model (ANOVA), pairwise two-sided      t      tests comparing each treatment group to placebo after the overall F test was      found to be statistically significant. Log***
***10***

***changes      in HIV RNA are calculated relative to baseline.***

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**About      PRO 140**

* *

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**About      the Company**

*in      vivo*

***DISCLOSURE      NOTICE:***
*      The      information contained in this document is current as of May 1, 2007. This press      release contains forward-looking statements. Any statements contained herein      that are not statements of historical fact may be forward-looking statements.      When the Company uses the words "anticipates"' "plans"' "expects" and similar      expressions, it is identifying forward-looking statements. Such forward-looking      statements involve risks and uncertainties which may cause the Company's actual      results, performance or achievements to be materially different from those      expressed or implied by forward-looking statements. Such factors include, among      others, the uncertainties associated with product development, the risk that      clinical trials will not commence or proceed as planned, the risks and      uncertainties associated with dependence upon the actions of our corporate,      academic and other collaborators and of government regulatory agencies, the      risk      that our licenses to intellectual property may be terminated because of our      failure to have satisfied performance milestones, the risk that products that      appear promising in early clinical trials do not demonstrate efficacy in      larger-scale clinical trials, the risk that we may not be able to manufacture      commercial quantities of our products, the uncertainty of future profitability      and other factors set forth more fully in the Company's Annual Report on Form      10-K for the fiscal year ended December 31, 2006, and other reports filed with      the Securities and Exchange Commission, to which investors are referred for      further information. In particular, the Company cannot assure you that any      of      its programs will result in a commercial product. *

*Progenics      does not have a policy of updating or revising forward-looking statements and      assumes no obligation to update any forward-looking statements contained in      this      document as a result of new information or future events or developments. Thus,      it should not be assumed that the Company's silence over time means that actual      events are bearing out as expressed or implied in such forward-looking      statements. *