**Exhibit      10.1**

**PROGENICS**
**PHARMACEUTICALS,      INC.**

**2005      STOCK INCENTIVE PLAN**

**(as      amended effective June 11, 2007)**

**1.      Purpose**

**2.      Definitions**

|   | (A) | “Award”                means an award of a Stock Option, Stock Appreciation Right, Restricted                Stock Award, Stock Unit Award, Stock Award or Performance Award granted                under the Plan. |
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|   | (B)    | “Award                Agreement”                means a written or electronic agreement entered into between the                Company                and a Participant setting forth the terms and conditions of an                Award. |

|   | (C) | “Board”                means the Board of Directors of the                Company. |
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|   | (D) | “Change                in Control”                shall have the meaning set forth in Section 13.2                hereof. |
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|   | (E) | “Code”                means the Internal Revenue Code of 1986, as                amended. |
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|   | (F) | “Committee”                means the Compensation Committee of the Board or a successor thereof,                or                any other committee of the Board appointed by the Board to administer                the                Plan from time to time. |
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|   | (G) | “Common                Stock”                means the Company’s Common Stock, par value $.0013 per                share. |
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|   | (H) | “Company”                means Progenics Pharmaceuticals, Inc., a Delaware                corporation. |
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|   | (I) | “Date                of Grant”                means the date on which an Award under the Plan is granted by the                Committee, or such later date as the Committee may specify to be                the                effective date of an Award. |
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|   | (J) | “Disability”                means a Participant being considered “disabled” within the meaning of                Section 409A(a)(2)(C) of the Code, unless otherwise provided in an                Award                Agreement. |
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|   | (K) | “Eligible                Person”                means any person who is an employee, officer, director, consultant,                advisor or other individual service provider of the Company or any                Subsidiary, as determined by the Committee, or any person who is                determined by the Committee to be a prospective employee, officer,                director, consultant, advisor or other individual service provider                of the                Company or any Subsidiary. |
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|   | (L) | “Exchange                Act”                means the Securities Exchange Act of 1934, as                amended. |
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|   | (M) | “Fair                Market Value”                with respect to the value of a share of Common Stock as of a particular                day, shall mean the last reported sale price (as reported on the                NASDAQ)                of the Common Stock on such day (unless such day is not a trading                day, in                which case, on the last trading day immediately preceding such day                on                which the Common Stock is traded on the NASDAQ). If the Common Stock                is                not listed on the NASDAQ, the Committee shall determine in good faith                the                Fair Market Value in whatever manner it considers appropriate, taking                into                account to the extent necessary the requirements of Section 409A                of the                Code. |
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|   | (N) | “Incentive                Stock Option”                means a Stock Option granted under Section 6 hereof that is intended                to                meet the requirements of section 422 of the Code and the regulations                promulgated thereunder.  |
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|   | (O) | “NASDAQ”                means The Nasdaq Stock Market’s National                Market.                                                                                                                                                                                  |

|   | (P) |                    “Nonqualified                Stock Option”                means a Stock Option granted under Section 6 hereof that is not an                Incentive Stock Option. |
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|   | (Q) | “Participant”                means any Eligible Person who holds an outstanding Award under the                Plan. |
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|   | (R) | “Performance                Awards”                means an Award under Section 11 hereof entitling a Participant to                a                payment in cash at the end of a performance period, if the performance                and                other conditions established by the Committee are                satisfied. |
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|   | (S) | “Plan”                means this Progenics Pharmaceuticals, Inc. 2005 Stock Incentive Plan                as                amended herein, and as may be amended from time to time, effective                as                provided in Section 15.1 hereof. |
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|   | (T) | “Restricted                Stock Award”                means a grant of shares of Common Stock to an Eligible Person under                Section 8 hereof that are issued subject to such vesting and transfer                restrictions and such other conditions as are set forth in the Plan                and                the applicable Award Agreement. |
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|   | (U) | “Section                162(m) Award”                means any Award that is intended to qualify for the “performance-based”                compensation exception under section 162(m) of the Code and the                regulations promulgated thereunder. |
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|   | (V) | “Service”                means a Participant’s employment or other service relationship with the                Company or any Subsidiary. |
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|   | (W) | “Stock                Appreciation Right”                means a contractual right granted to an Eligible Person under Section                7                hereof entitling such Eligible Person to receive a payment, representing                the difference between the base price per share of the right and                the Fair                Market Value of a share of Common Stock at such time, and subject                to such                conditions, as are set forth in the Plan and the applicable Award                Agreement. |
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|   | (X) | “Stock                Award”                means a grant of shares of Common Stock to an Eligible Person under                Section 10 hereof entitling a Participant to shares of Common Stock                that                are issued free of transfer restrictions and forfeiture                conditions. |
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|   | (Y) | “Stock                Option”                means a contractual right granted to an Eligible Person under Section                6                hereof to purchase shares of Common Stock at such time and price,                and                subject to such conditions, as are set forth in the Plan and the                applicable Award Agreement. |
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|   | (Z) | “Stock                Unit Award”                means a contractual right granted to an Eligible Person under Section                9                hereof representing notional unit interests equal in value to a share                of                Common Stock to be paid and distributed at such times, and subject                to such                conditions, as are set forth in the Plan and the applicable Award                Agreement. |
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|                          (AA)  | “Subsidiary”                means an entity (whether or not a corporation) that is wholly or                majority                owned or controlled, directly or indirectly, by the Company, or any                other                affiliate of the Company that is so designated, from time to time,                by the                Committee; provided, however, that with respect to Incentive Stock                Options, the term “Subsidiary” shall include only an entity that qualifies                under section 424(f) of the Code as a “subsidiary corporation” with                respect to the Company. |
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**3.      Administration**

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**4.      Shares Subject to the Plan**

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**5.      Participation and Awards**

**6.      Stock Options**

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|   | (i) | Eligibility.     An                Incentive Stock Option may only be granted to an Eligible Person                who is                considered an employee under Treasury Regulation §1.421-7(h) of the                Company or any Subsidiary. |
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|   | (ii) | Annual                Limits.     No                Incentive Stock Option shall be granted to an Eligible Person as                a result                of which the aggregate Fair Market Value (determined as of the Date                of                Grant) of the stock with respect to which Incentive Stock Options                are                exercisable for the first time in any calendar year under the Plan                and any                other stock option plans of the Company or any Subsidiary would exceed                $100,000, determined in accordance with section 422(d) of the Code.                This                limitation shall be applied by taking Incentive Stock Options into                account                in the order in which granted. |
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|   | (iii) | Ten                Percent Stockholders.     If                a Stock Option granted under the Plan is intended to be an Incentive                Stock                Option, and if the Participant, at the time of grant, owns stock                possessing ten percent or more of the total combined voting power                of all                classes of Common Stock of the Company or any Subsidiary, then (A)                the                Stock Option exercise price per share shall in no event be less than                110                percent of the Fair Market Value of the Common Stock on the date                of such                grant and (B) such Stock Option shall not be exercisable after the                expiration of five years following the date such Stock Option is                granted. |
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|   | (iv) | Termination                of Employment.     An                Award of an Incentive Stock Option may provide that such Stock Option                may                be exercised not later than 3 months following termination of employment                of the Participant with the Company and all Subsidiaries, or not                later                than one year following death or a permanent and total disability                within                the meaning of section 22(e)(3) of the Code, as and to the extent                determined by the Committee to comply with the requirements of section                422                of the Code. |
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|   | (v) | Other                Terms and Conditions; Nontransferability.     Any                Incentive Stock Option granted hereunder shall contain such additional                terms and conditions, not inconsistent with the terms of the Plan,                as are                deemed necessary or desirable by the Committee, which terms, together                with                the terms of the Plan, shall be intended and interpreted to cause                such                Incentive Stock Option to qualify as an “incentive stock option” under                section 422 of the Code. An Award Agreement for an Incentive Stock                Option                may provide that such Stock Option shall be treated as a Nonqualified                Stock Option to the extent that certain requirements applicable to                “incentive stock options” under the Code shall not be satisfied. An                Incentive Stock Option shall by its terms be nontransferable other                than by                will or by the laws of descent and distribution, and shall be exercisable                during the lifetime of a Participant only by such                Participant. |
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|   | (vi) | Disqualifying                Dispositions.     If                shares of Common Stock acquired by exercise of an Incentive Stock                Option                are disposed of within two years following the Date of Grant or one                year                following the transfer of such shares to the Participant upon exercise,                the Participant shall, promptly following such disposition, notify                the                Company in writing of the date and terms of such disposition and                provide                such other information regarding the disposition as the Company may                reasonably require. |
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**7.      Stock Appreciation Rights**

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**8.      Restricted Stock Awards**

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**9.      Stock Unit Awards**

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**10.      Stock Awards**

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**11.      Performance Awards**

**12.      Section 162(m) Awards**

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**13.      Change in Control**

|   | (i) | a                change in the composition of the Board such that during any period                of two                consecutive years, individuals who at the beginning of such period                constitute the Board, and any new director (other than a director                designated by a person who has entered into an agreement with the                Company                to effect a transaction described in clause (ii) or (iii) of this                Section                13.2) whose election by the Board or nomination for election by the                Company’s stockholders was approved by a vote of at least two-thirds of                the directors then still in office who either were directors at the                beginning of the period or whose election or nomination for election                was                previously so approved, cease for any reason to constitute at least                a                majority of the members thereof; |
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|   | (ii) | the                approval by the stockholders of the Company of a merger, consolidation,                reorganization or similar corporate transaction, whether or not the                Company is the surviving corporation in such transaction, in which                outstanding shares of Common Stock are converted into (A) shares                of stock                of another company, other than a conversion into shares of voting                common                stock of the successor corporation (or a holding company thereof)                representing more than 50% of the voting power of all capital stock                thereof outstanding immediately after the merger or consolidation,                or (B)                other securities (of either the Company or another company) or cash                or                other property; |
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|   | (iii) | any                “Person” (as such term is used in Sections 13(d)(3) and 14(d)(2) of the                Exchange Act), except that such term shall not include (A) the Company,                (B) a trustee or other fiduciary holding securities under an employee                benefit plan of the Company, (C) an underwriter temporarily holding                securities pursuant to an offering of such securities, or (D) a                corporation owned, directly or indirectly, by the stockholders of                the                Company in substantially the same proportions as their ownership                of stock                of the Company, who is or becomes the “Beneficial Owner” (as defined in                Rule 13d-3 under the Exchange Act), directly or indirectly, of securities                of the Company (not including in the securities Beneficially Owned                by such                Person any securities acquired directly from the Company) representing                30%                or more of the voting power of all capital stock thereof outstanding,                excluding any Person who is an officer or director of the Company                or who                becomes such a Beneficial Owner in connection with a transaction                described                in clause (ii) of this Section 13.2;                or |
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|   | (iv) | the                approval by the stockholders of the Company of (A) the sale or other                disposition of all or substantially all of the assets of the Company,                or                (B) a complete liquidation or dissolution of the                Company. |
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**14.      General Provisions**

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**15.      Effective Date, Amendment and Termination**