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*Exhibit 99.1*
|  |  Progenics Pharmaceuticals, Inc.777 Old Saw Mill River RoadTarrytown, New York 10591Fax: (914) 789-2817(914) 789-2800www.progenics.com |
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| · | RELISTOR® Net Sales Increased to $23.0 Million for the Fourth Quarter |
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| · | Oral RELISTOR Remains On-track for April 19, 2016 PDUFA |
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| · | Subcutaneous RELISTOR Approved in Europe for All Opioid-Induced Constipation |
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| · | AZEDRA® Ultra-Orphan Cancer Therapeutic Receives FDA Breakthrough Designation |
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| · | AZEDRA Completes Enrollment of 68 Patients in Pivotal Trial and Topline Results Expected Between December 2016 and March 2017 |
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| · | Initiated Pivotal Phase 3 Study of 1404, PSMA-Targeted SPECT/CT Imaging Agent |
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| · | Clinical Studies Planned for PyL PSMA-Targeted PET/CT Imaging Agent Licensed from Johns Hopkins University |
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| · | Acquired EXINI Diagnostics AB, a Swedish Developer of Artificial Intelligence-Based Image Analysis Tools to Enhance Our Prostate Cancer Imaging Agents |
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| · | Phase 1 Study of 1095, PSMA-Targeted Therapeutic for Metastatic Prostate Cancer, Planned at Memorial Sloan Kettering |
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| · | RELISTOR Net Sales for the Fourth Quarter 2015 Total $23.0 Million. Full year 2015 net sales totaled $43.8 million (as reported to us by our partner, Valeant). |
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| · | Oral RELISTOR Remains On-track for April 19, 2016 PDUFA. Progenics anticipates an FDA decision April 19, 2016 on the NDA submission for oral RELISTOR. If approved, Progenics would be entitled to a $50 million milestone payment and subsequent sales royalties and commercial milestones from Valeant. |
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| · | Subcutaneous RELISTOR Approved in Europe for All Opioid-Induced Constipation. In June 2015 the European Commission approved RELISTOR (methylnaltrexone bromide) Subcutaneous Injection for the treatment of opioid-induced constipation (OIC) when response to laxative therapy has not been sufficient in adult patients, aged 18 years and older. |
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| · | AZEDRA Ultra-Orphan Cancer Therapeutic Receives FDA Breakthrough Designation. In July 2015 the U.S. Food and Drug Administration (FDA) designated AZEDRA as a Breakthrough Therapy for the treatment of patients with iobenguane-avid metastatic or recurrent pheochromocytoma and paraganglioma. |
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| · | AZEDRA Completes Enrollment of 68 Patients in Pivotal Trial. In December 2015, Progenics achieved target enrollment in its pivotal Phase 2b trial of AZEDRA. A total of 68 patients have been enrolled. |
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| · | AZEDRA Topline Results Expected Between December 2016 and March 2017. In late 2016 or early 2017, Progenics expects to report top-line results from its ongoing pivotal Phase 2b study of AZEDRA. If positive, the Company expects to submit an NDA to the FDA in 1H 2017. |
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| · | Exclusive Worldwide License Signed With Johns Hopkins University for PyL, PSMA-Targeted PET/CT Imaging Agent. In August 2015, the Company announced an exclusive worldwide licensing agreement with the Johns Hopkins University for imaging agent PyL. |
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| · | Pivotal Phase 3 Study Underway of 1404, PSMA-Targeted SPECT/CT Imaging Agent. Progenics has commenced a pivotal Phase 3 study of PSMA-targeted imaging agent 1404 for prostate cancer. The Phase 3 clinical trial is expected to enroll approximately 450 patients with newly diagnosed low-grade prostate cancer patients who are candidates for active surveillance, but nonetheless are planning to undergo radical prostatectomy. During the second half of 2016, Progenics expects to perform an interim analysis of the Phase 3 clinical trial of its PSMA-targeted imaging agent, 1404, to assess futility and evaluate the need for a sample size re-estimation. |
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| · | Acquired EXINI Diagnostics AB, a Swedish Developer of Artificial Intelligence-Based Image Analysis Tools.In November 2015, Progenics acquired EXINI Diagnostics AB, a Swedish developer of artificial intelligence-based analytical tools to improve the management of prostate cancer. The acquisition enhances the Company's proprietary prostate cancer imaging programs, 1404 and PyL. |
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| · | Announced Data Highlighting EXINI's Lead Artificial Intelligence-Based Analytical Tool, the Bone Scan Index (BSI), was Published in the January 2016 Issue of the Journal of Nuclear Medicine. In the paper, researchers from Memorial Sloan Kettering Cancer Center in New York and Lund University in Sweden reported that BSI overcomes a number of key limitations of manual image assessment by human readers and can provide an accurate, precise and reproducible platform for quantifying changes in bone scans of prostate cancer patients. |
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| · | Phase 1 Study of 1095, PSMA-Targeted Therapeutic for Metastatic Prostate Cancer, Planned at Memorial Sloan Kettering. Initiation of a Phase 1 study of 1095 planned for 2H 2016 at Memorial Sloan Kettering Cancer Center. |
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| PROGENICS PHARMACEUTICALS, INC.CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except net (loss) income per share) |
|------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                   |   | For the Three Months EndedDecember 31, |   |   | For the Year EndedDecember 31, |
|                                                                                                                   |   | 2015 |   |   | 2014 |   |   | 2015 |   |   | 2014 |
|                                                                                                                   |   | (unaudited) |   |   |  |   |   |  |
| Revenues:                                                                                                              |   |  |   |   |  |   |   |  |   |   |  |
| Collaboration revenue                                                                                                  |   | $ | 1,562 |   |   | $ | 52 |   |   | $ | 1,955 |   |   | $ | 41,196 |
| Royalty income (loss)                                                                                                  |   |   | 3,453 |   |   |   | (627 | ) |   |   | 6,608 |   |   |   | 3,101 |
| Other revenues                                                                                                         |   |   | 80 |   |   |   | 4 |   |   |   | 113 |   |   |   | 80 |
| Total revenues                                                                                                         |   |   | 5,095 |   |   |   | (571 | ) |   |   | 8,676 |   |   |   | 44,377 |
|                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Expenses:                                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Research and development                                                                                               |   |   | 7,941 |   |   |   | 6,269 |   |   |   | 28,196 |   |   |   | 28,592 |
| General and administrative                                                                                             |   |   | 3,760 |   |   |   | 3,914 |   |   |   | 18,184 |   |   |   | 15,489 |
| Intangible impairment charges                                                                                          |   |   | - |   |   |   | 2,100 |   |   |   | - |   |   |   | 2,676 |
| Change in contingent consideration liability                                                                           |   |   | 700 |   |   |   | 100 |   |   |   | 1,600 |   |   |   | 1,500 |
| Total expenses                                                                                                         |   |   | 12,401 |   |   |   | 12,383 |   |   |   | 47,980 |   |   |   | 48,257 |
| Other operating income                                                                                                 |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 7,250 |
|                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating (loss) income                                                                                                |   |   | (7,306 | ) |   |   | (12,954 | ) |   |   | (39,304 | ) |   |   | 3,370 |
|                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other income:                                                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest income                                                                                                        |   |   | 19 |   |   |   | 14 |   |   |   | 52 |   |   |   | 51 |
| Total other income                                                                                                     |   |   | 19 |   |   |   | 14 |   |   |   | 52 |   |   |   | 51 |
|                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (Loss) income before income tax benefit                                                                                |   |   | (7,287 | ) |   |   | (12,940 | ) |   |   | (39,252 | ) |   |   | 3,421 |
|                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income tax benefit                                                                                                     |   |   | 133 |   |   |   | 761 |   |   |   | 133 |   |   |   | 989 |
|                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net (loss) income                                                                                                      |   |   | (7,154 | ) |   |   | (12,179 | ) |   |   | (39,119 | ) |   |   | 4,410 |
| Net loss attributable to noncontrolling interests                                                                      |   |   | (7 | ) |   |   | - |   |   |   | (7 | ) |   |   | - |
| Net (loss) income attributable to Progenics                                                                            |   | $ | (7,147 | ) |   | $ | (12,179 | ) |   | $ | (39,112 | ) |   | $ | 4,410 |
|                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net (loss) income per share attributable to Progenics; basic                                                           |   | $ | (0.10 | ) |   | $ | (0.18 | ) |   | $ | (0.56 | ) |   | $ | 0.06 |
| Weighted average shares outstanding; basic                                                                             |   |   | 69,874 |   |   |   | 69,589 |   |   |   | 69,716 |   |   |   | 68,185 |
|                                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net (loss) income per share attributable to Progenics; diluted                                                         |   | $ | (0.10 | ) |   | $ | (0.18 | ) |   | $ | (0.56 | ) |   | $ | 0.06 |
| Weighted average shares outstanding; diluted                                                                           |   |   | 69,874 |   |   |   | 69,589 |   |   |   | 69,716 |   |   |   | 68,243 |

| CONDENSED CONSOLIDATED BALANCE SHEETS(in thousands)    |
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|                                                   |   | December 31,2015 |   |   | December 31,2014 |
| Cash and cash equivalents                              |   | $ | 74,103 |   |   | $ | 119,302 |
| Accounts receivable, net                               |   |   | 3,543 |   |   |   | 109 |
| Fixed assets, net                                      |   |   | 2,407 |   |   |   | 2,552 |
| Intangible assets, net and goodwill                    |   |   | 43,867 |   |   |   | 36,402 |
| Other assets                                           |   |   | 7,331 |   |   |   | 2,672 |
| Total assets                                           |   | $ | 131,251 |   |   | $ | 161,037 |
|                                                   |   |   |   |   |   |   |   |
| Current liabilities                                    |   | $ | 9,729 |   |   | $ | 6,685 |
| Acquisition-related contingent consideration liability |   |   | 18,800 |   |   |   | 17,200 |
| Deferred tax and other liabilities                     |   |   | 12,061 |   |   |   | 12,243 |
| Total liabilities                                      |   |   | 40,590 |   |   |   | 36,128 |
| Total Progenics stockholders' equity                   |   |   | 90,456 |   |   |   | 124,909 |
| Noncontrolling interests                               |   |   | 205 |   |   |   | - |
| Total stockholders' equity                             |   |   | 90,661 |   |   |   | 124,909 |
| Total liabilities and stockholders' equity             |   | $ | 131,251 |   |   | $ | 161,037 |

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| Contact:  | Melissa DownsInvestor Relations(914) 789-2801mdowns@progenics.com |   |
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