Progenics Pharmaceuticals (PGNX) 10-Q 9 May 19 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 06, 2019
Document Information [Line Items]
Entity Registrant Name	Progenics Pharmaceuticals Inc
Entity Central Index Key	0000835887
Trading Symbol	pgnx
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding (in shares)		84,542,514
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 109,587	$ 137,686
Accounts receivable, net	4,935	3,803
Other current assets	3,125	2,640
Total current assets	117,647	144,129
Property and equipment, net	6,062	3,944
Intangible assets, net	7,651	6,666
Goodwill	17,847	13,074
Operating right-of-use lease assets	13,293
Other assets	1,704	1,684
Total assets	164,204	169,497
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	564	444
Accrued expenses	9,504	10,533
Contingent consideration liability	7,900	7,050
Current portion of debt, net	6,064	5,419
Operating lease liabilities	414
Total current liabilities	24,446	23,446
Long-term debt, net	37,568	39,180
Operating lease liabilities	14,787
Contingent consideration liability	4,000	3,950
Deferred tax liability	28	28
Other liabilities		1,818
Total liabilities	80,829	68,422
Commitments and Contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value Authorized - 20,000 shares; issued and outstanding - none	0	0
Common stock, $0.0013 par value Authorized - 160,000 shares; issued - 84,742 shares in 2019 and 2018	110	110
Additional paid-in capital	714,096	713,019
Treasury stock at cost, 200 shares of common stock	(2,741)	(2,741)
Accumulated other comprehensive loss	(147)	(105)
Accumulated deficit	(627,943)	(609,208)
Total stockholders’ equity	83,375	101,075
Total liabilities and stockholders’ equity	$ 164,204	$ 169,497

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares shares in Thousands	Mar. 31, 2019	Dec. 31, 2018
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	20,000	20,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0013	$ 0.0013
Common stock, shares authorized (in shares)	160,000	160,000
Common stock, shares issued (in shares)	84,742	84,742
Treasury stock at cost, shares (in shares)	200	200

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenue:
Revenue	$ 4,281	$ 3,189
Operating expenses:
Research and development	12,392	8,110
Selling, general and administrative	9,224	6,697
Change in contingent consideration liability	900	800
Total operating expenses	22,516	15,607
Operating loss	(18,235)	(12,418)
Other (expense) income:
Interest (expense) income and other income, net	(500)	(1,006)
Total other (expense) income	(500)	(1,006)
Net loss	$ (18,735)	$ (13,424)
Net loss per share - basic and diluted (in dollars per share)	$ (0.22)	$ (0.19)
Weighted-average shares - basic and diluted (in shares)	84,542	72,517
Royalty [Member]
Revenue:
Revenue	$ 4,161	$ 3,058
Product and Service, Other [Member]
Revenue:
Revenue	$ 120	$ 131

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net loss	$ (18,735)	$ (13,424)
Other comprehensive loss:
Foreign currency translation adjustments	(42)	(18)
Comprehensive loss	$ (18,777)	$ (13,442)

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Common Stock Subscribed [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Subscription Receivable [Member]	Treasury Stock [Member]	Total
Balance (in shares) at Dec. 31, 2017	71,325	320					(200)
Balance at Dec. 31, 2017	$ 93		$ 609,829	$ (541,586)	$ (33)	$ (2,109)	$ (2,741)	$ 63,453
Net loss				(13,424)				(13,424)
Foreign currency translation adjustments					(18)			(18)
Stock-based compensation expense			1,048					1,048
Balance (in shares) at Mar. 31, 2018	72,862	103					(200)
Balance at Mar. 31, 2018	$ 95		619,041	(554,975)	(51)	(750)	$ (2,741)	60,619
Cumulative effect of ASU 2014-09 adoption				35				35
Issuance of common stock in connection with at-the-market offering, net of commissions and issuance costs (in shares)	1,537	(320)
Issuance of common stock in connection with at-the-market offering, net of commissions and issuance costs	$ 2		7,414			2,109		9,525
Subscription of common stock in connection with at-the-market offering, net of commissions (in shares)		103
Subscription of common stock in connection with at-the-market offering, net of commissions			750			$ (750)
Balance (in shares) at Dec. 31, 2018	84,742						(200)
Balance at Dec. 31, 2018	$ 110		713,019	(609,208)	(105)		$ (2,741)	101,075
Net loss				(18,735)				(18,735)
Foreign currency translation adjustments					(42)			(42)
Stock-based compensation expense			1,077					1,077
Balance (in shares) at Mar. 31, 2019	84,742						(200)
Balance at Mar. 31, 2019	$ 110		$ 714,096	$ (627,943)	$ (147)		$ (2,741)	$ 83,375

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net loss	$ (18,735)	$ (13,424)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	1,077	1,048
Depreciation and amortization	557	286
Non-cash interest expense	71	63
Other	11
Change in fair value of contingent consideration liability	900	800
Changes in assets and liabilities:
Accounts receivable	(1,136)	491
Other current assets	(447)	(204)
Other assets	146
Accounts payable	124	(1,757)
Accrued expenses	(991)	(1,632)
Other current liabilities	18
Other liabilities	(114)	73
Net cash used in operating activities	(18,519)	(14,256)
Cash flows from investing activities:
Acquisition of AZEDRA manufacturing assets	(8,000)
Purchases of property and equipment	(491)	(16)
Net cash used in investing activities	(8,491)	(16)
Cash flows from financing activities:
Net proceeds from issuance of common stock in connection with at-the-market offering		9,524
Repayment of debt	(1,037)
Net cash (used in) provided by financing activities	(1,037)	9,524
Effect of currency rate changes on cash, cash equivalents and restricted cash	(46)	(17)
Net decrease in cash, cash equivalents, and restricted cash	(28,093)	(4,765)
Cash, cash equivalents, and restricted cash at beginning of period	139,220	92,164
Cash, cash equivalents, and restricted cash at end of period	111,127	87,399
Supplemental disclosure of cash flow information
Cash paid for interest	1,077	1,205
Noncash financing activity
Subscription receivable		(1,359)
Cash, cash equivalents and restricted cash information
Cash and cash equivalents at beginning of period	137,686	90,642
Restricted cash included in long-term assets at the beginning of period	1,534	1,522
Cash, cash equivalents, and restricted cash at beginning of period	139,220	92,164
Cash and cash equivalents at end of period	109,587	83,431
Restricted cash included in current assets at the end of period		2,444
Restricted cash included in long-term assets at the end of period	1,540	1,524
Cash, cash equivalents, and restricted cash at end of period	$ 111,127	$ 87,399

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Business Description and Accounting Policies [Text Block]	Note 1. Business Progenics Pharmaceuticals, Inc. (and its subsidiaries collectively the “Company,” “Progenics”, “we”, or “us”) is an oncology company focused on the development and commercialization of innovative targeted medicines and artificial intelligence to find, fight and follow cancer. Highlights of our recent progress include the approval, launch and manufacturing of AZEDRA ® 1095 Recent Progress : ● AZEDRA ® Launch. ● AZEDRA ® Manufacturing. February 2019, $8.0 1095. 1095 ® Continued Progress Across Entire Pipeline: ● We initiated a multicenter, randomized, controlled Phase 2 1095 1095 Progenics’1095 ● Data from an ongoing investigator-initiated study of PyL in 130 The Journal of Nuclear Medicine 89.1% 87.3% ● Stanford University presented data from its investigator-initiated prospective study of PyL in patients with biochemical recurrent prostate cancer at the American Urological Association (“AUA”) Annual Meeting. Results demonstrated PyL’s overall positivity rate in this cohort of 84%. two ● Enrollment continues in a pivotal multi-center, open label Phase 3 2019. ● We presented the results of the Phase 2/3 3 November 2018. ● We continue to pursue our life cycle management plans for AZEDRA. In February 2019, ● Using our PSMA-targeted imaging data from previous trials, we completed a prospectively planned retrospective analysis using our deep convolutional neural network algorithms (“PSMA AI”) to automatically assess the PSMA images. The reads with PSMA AI demonstrated a statistically significant improvement over manual assessment in terms of increased diagnostic accuracy, precision, speed, and reproducibility. The results from this analysis are expected to be presented at a scientific conference in June 2019. Corporate: ● We enhanced our leadership team with the appointment of Asha Das, M.D. as Chief Medical Officer. Dr. Das most recently served as Tocagen’s Chief Medical Officer, where she led the development of the company’s cancer-selective gene therapy platform. Previous to that Dr. Das was at Genentech, where she worked in positions of increasing responsibility, initially as Associate Medical Director and ultimately as Group Medical Director and was responsible for leading activities related to the approval and launch of Avastin in recurrent glioblastoma, expansion into platinum-resistant ovarian cancer and metastatic cervical cancer as well as clinical activities related to TECENTRIQ ® Strategic partnerships : ● RELISTOR ® ● Bayer AG (“Bayer”) has exclusive worldwide rights to develop and commercialize products using our PSMA antibody technology, in combination with Bayer’s alpha-emitting radionuclides. Bayer is developing PSMA TTC, a thorium- 227 1 ● CytoDyn Inc. (“CytoDyn”) acquired leronlimab (PRO 140 CCR5 March 2019 first three ● Curium has exclusive rights to develop, manufacture and commercialize PyL ( 18F 2019. Our current principal sources of revenue from operations are royalty, development and commercial milestones from Bausch and Bayer. Royalty and further milestone payments from Bausch or Bayer depend on success in development and commercialization of RELISTOR and our PSMA antibody technology, respectively, which is dependent on many factors, such as Bausch or Bayer’s respective efforts, decisions by the FDA and other regulatory bodies, competition from drugs for the same or similar indications, and the outcome of clinical and other testing of the licensed products. We commenced principal operations in 1988, 1997, Liquidity At March 31, 2019, $109.6 $28.1 $137.7 December 31, 2018. one 10 may may Basis of Presentation Our unaudited condensed consolidated financial statements have been prepared in accordance with applicable presentation requirements, and accordingly, do not not Our unaudited condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto contained in our Annual Report on Form 10 December 31, 2018. not Principles of Consolidation The condensed consolidated financial statements include the accounts of Progenics as well as its wholly-owned subsidiaries. All material intercompany transactions and balances have been eliminated in consolidation. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results may Revenue Recognition We recognize revenue when our customers obtain control of the promised goods or services, in an amount that reflects the consideration which we expect to receive in exchange for those goods or services. To account for our revenue arrangements, we perform the following five For contracts determined to be within the scope of ASU 2014 09, Revenue from Contracts with Customers (Topic 606 2014 09” 606” not The transaction price is then determined and allocated to the identified performance obligations in proportion to their estimated fair value, which requires significant judgment. Variable consideration, which is estimated using the expected value method or the most likely amount method, is included in the transaction price only if, in our judgment, it is probable that a significant future reversal of cumulative revenue under the contract will not For arrangements that include development, regulatory or sales milestone payments, we evaluate whether the milestones are probable of being reached and estimate the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not not not We then recognize as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. The following table summarizes our revenue streams from contracts with customers for the three March 31, 2019 2018 Three Months Ended March 31, Source 2019 2018 Royalty income $ 4,161 $ 3,058 Other revenue 120 131 Total revenue $ 4,281 $ 3,189 Royalty income Other revenue not We had receivable contract balances of $4.9 $3.8 March 31, 2019 December 31, 2018, Note 5 . Accounts Receivable Restricted Cash Restricted cash included in long-term assets of $1.5 March 31, 2019 December 31, 2018, Foreign Currency Translation Our international subsidiaries generally consider their respective local currency to be their functional currency. Assets and liabilities of these international subsidiaries are translated into U.S. dollars at quarter-end exchange rates and revenues and expenses are translated at average exchange rates during the quarter and year-to-date period. Foreign currency translation adjustments for the reported periods are included in accumulated other comprehensive loss in our condensed consolidated statements of comprehensive loss, and the cumulative effect is included in the stockholders’ equity section of our condensed consolidated balance sheets. Realized gains and losses denominated in foreign currencies are recorded in operating expenses in our condensed consolidated statements of operations and were not three March 31, 2019 2018. Leases We determine whether an arrangement is or contains a lease at its inception. We recognize lease liabilities based on the present value of the minimum lease payments not not may The operating lease liabilities are reported in other current liabilities and other noncurrent liabilities and the related ROU lease assets are reported in other noncurrent assets on our condensed consolidated balance sheet. Lease expense for our operating leases is calculated on a straight-line basis over the lease term and is reported in research and development and selling, general and administrative expenses on our condensed consolidated statements of operations. We do not twelve Property and Equipment Property and equipment is recorded at historical cost, net of accumulated depreciation and amortization of $2.8 $2.7 March 31, 2019 December 31, 2018, March 31, December 31, 2019 2018 Machinery and equipment $ 3,887 $ 2,992 Leasehold improvements 3,034 1,734 Computer equipment 621 721 Furniture and fixtures 878 878 Construction in progress 455 317 Property and equipment, gross 8,875 6,642 Less - accumulated depreciation (2,813 ) (2,698 ) Property and equipment, net $ 6,062 $ 3,944

Note 2 - New Accounting Pronoun

Note 2 - New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Note 2. Recently Adopted In February 2016, 2016 02 2016 02” Leases (Topic 842 12 The FASB has subsequently issued the following amendments to ASU 2016 02, January 1, 2019, ● ASU No. 2018 01, Leases (Topic 842 842, not 842 842 not 840, Leases ● ASU No. 2018 10, Codification Improvements to Topic 842, 2016 02. ● ASU No. 2018 11, Leases (Topic 842 2016 02 not ● ASU No. 2018 20, Narrow-Scope Improvements for Lessors 2016 02. ● ASU No. 2019 01, Leases (Topic 842 We adopted the new leasing standards on January 1, 2019, January 1, 2019 not The adoption of this standard impacted our 2019 $15.3 $13.5 not Recently Issued In August 2018, 2018 13 2018 13” Fair Value Measurement - Disclosure Framework (Topic 820 2018 13 December 15, 2019. In June 2016, 2016 13, Financial Instruments - Credit Losses (Topic 326 November 2018, 2018 19, Codification Improvements to Topic 326, April 2019, 2019 04, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Topic 825, Instruments 2016 13. December 15, 2019.

Note 3 - Net Loss Per Share

Note 3 - Net Loss Per Share	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 3 . Net Loss Per Share Our basic net loss per share amounts have been computed by dividing net loss by the weighted-average number of common shares outstanding during the period. For the three March 31, 2019 2018, not The calculations of net loss per share, basic and diluted, are as follows (amounts in thousands, except per share data): Weighted-Average Shares Net Loss Outstanding Per Share (Numerator) (Denominator) Amount Three months ended March 31, 2019 Basic and diluted $ (18,735 ) 84,542 $ (0.22 ) Three months ended March 31, 2018 Basic and diluted $ (13,424 ) 72,517 $ (0.19 ) The following table summarizes anti-dilutive common shares or common shares where performance conditions have not Three Months Ended March 31, 2019 2018 Stock options 6,522 3,483 Contingent consideration liability (1) 2,565 2,359 Total securities excluded 9,087 5,842 ( 1

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 4 . Fair Value Measurements To estimate the fair values of our financial assets and liabilities, we use valuation approaches within a hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of us. Unobservable inputs are inputs that reflect our assumptions about the inputs that market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. The fair value hierarchy is divided into three ● Level 1 ● Level 2 1 ● Level 3 The availability of observable inputs can vary among the various types of financial assets and liabilities. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. In certain cases, the inputs used for measuring fair value may We believe the carrying amounts of our cash equivalents, restricted cash, accounts receivable, other current assets, other assets, accounts payable and accrued expenses approximated their fair values as of March 31, 2019 December 31, 2018. We record the contingent consideration liability resulting from our acquisition of Molecular Insight Pharmaceuticals, Inc. (“MIP”) at fair value in accordance with Accounting Standards Codification (“ASC”) 820 820, Fair Value Measurement The following tables summarize each major class of our financial assets and liabilities measured at fair value on a recurring basis as of the dates indicated, classified by valuation hierarchy (in thousands): Fair Value Measurements at March 31, 2019 Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable Balance at Identical Assets Inputs Inputs March 31, 2019 (Level 1) (Level 2) (Level 3) Assets: Money market funds $ 104,875 $ 104,875 $ - $ - Total assets $ 104,875 $ 104,875 $ - $ - Liabilities: Contingent consideration liability $ 11,900 $ - $ - $ 11,900 Total liabilities $ 11,900 $ - $ - $ 11,900 Fair Value Measurements at December 31, 2018 Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable Balance at Identical Assets Inputs Inputs December 31, 2018 (Level 1) (Level 2) (Level 3) Assets: Money market funds $ 136,052 $ 136,052 $ - $ - Total assets $ 136,052 $ 136,052 $ - $ - Liabilities: Contingent consideration liability $ 11,000 $ - $ - $ 11,000 Total liabilities $ 11,000 $ - $ - $ 11,000 The contingent consideration liability of $11.9 March 31, 2019 Milestone payments due upon first Program Consideration Form of Payment at Progenics' Option AZEDRA $ 8,000 Cash or Progenics common stock 1404 10,000 Cash or Progenics common stock 1095 5,000 Cash or Progenics common stock $ 23,000 Net sales milestone payments due upon first Consideration Form of Payment at Progenics' Option $30 million $ 5,000 Cash or Progenics common stock $60 million 5,000 Cash or Progenics common stock $100 million 10,000 Cash or Progenics common stock $250 million 20,000 Cash or Progenics common stock $500 million 30,000 Cash or Progenics common stock $ 70,000 We consider this liability a Level 3 one Significant changes in any of the probabilities of success or the probabilities as to the periods in which milestones will be achieved, would result in a significantly higher or lower fair value measurement. We record the contingent consideration liability at fair value with changes in estimated fair values recorded in change in contingent consideration liability in our condensed consolidated statements of operations. The following table summarizes quantitative information and assumptions pertaining to the fair value measurement of the Level 3 March 31, 2019 December 31, 2018 ( $0.9 three March 31, 2019, Fair Value at March 31, 2019 Valuation Technique Unobservable Input Assumption Contingent Consideration Liability: AZEDRA commercialization $ 7,900 Probability adjusted discounted Probability of success 100% cash flow model Period of expected milestone achievement 2019 Discount rate 10% 1095 commercialization 450 Probability adjusted discounted Probability of success 18% cash flow model Period of expected milestone achievement 2026 Discount rate 10% Net sales targets 3,550 Monte-Carlo simulation Probability of success 18% - 90% Discount rate 10% Total $ 11,900 Fair Value at December 31, 2018 Valuation Technique Unobservable Input Assumption Contingent Consideration Liability: AZEDRA commercialization $ 7,050 Probability adjusted discounted Probability of success 90% cash flow model Period of expected milestone achievement 2019 Discount rate 10% 1095 commercialization 450 Probability adjusted discounted Probability of success 18% cash flow model Period of expected milestone achievement 2026 Discount rate 10% Net sales targets 3,500 Monte-Carlo simulation Probability of success 18% - 90% Discount rate 10% Total $ 11,000 For those financial instruments with significant Level 3 Liability - Contingent Consideration Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended March 31, 2019 2018 Balance at beginning of period $ 11,000 $ 16,800 Fair value change included in net loss 900 800 Balance at end of period $ 11,900 $ 17,600 Changes in unrealized gains or losses for the period included in earnings (or changes in net assets) for liabilities held at the end of the reporting period $ 900 $ 800

Note 5 - Accounts Receivable

Note 5 - Accounts Receivable	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	Note 5 . Accounts Receivable Our accounts receivable represent amounts due to us from royalties, collaborators, and, to a small extent, sales of research reagents, and consisted of the following at March 31, 2019 December 31, 2018 ( March 31, December 31, 2019 2018 Royalties $ 4,161 $ 3,151 Other 774 652 Accounts receivable, net $ 4,935 $ 3,803

Note 6 -Recent Acquisition, Goo

Note 6 -Recent Acquisition, Goodwill, In-process Research and Development and Other Intangible Assets	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	Note 6 . Recent Acquisition, Goodwill, In-Process Research and Development and Other Intangible Assets Recent Acquisition In February 2019, $8.0 1095. Purchase Price Allocation may one The following table summarizes the preliminary allocation of the consideration paid to the estimated fair values of the assets acquired as of the acquisition date (in thousands): Amount Cash consideration $ 8,000 Tangible assets acquired: Machinery and equipment 682 Leasehold improvements 1,300 Total tangible assets acquired 1,982 Intangible assets - Somerset 1,245 Total tangible and intangible assets acquired 3,227 Goodwill $ 4,773 The replacement cost method, a variation of the cost approach, was applied to assess the value of the assets acquired by Progenics. The principle behind this method is that the value represents the current cost of a similar new asset having the nearest equivalent utility as the asset being valued. It generally represents the maximum amount that a prudent investor will pay for a comparable asset. The cost approach provides a systematic framework for estimating the value of tangible or intangible assets based on the economic principle of substitution, and that no The acquired Somerset intangible assets represent manufacturing know-how asset, which is comprised of documented technical date and information, formulae, standards, specifications, processes, methods, code books, as well as all information, knowledge, trade practices and secrets utilized by the Somerset facility in manufacturing of the AZEDRA. We estimate the remaining useful life of the Somerset intangible to be approximately 6 Goodwill, In-Process Research and Development and Other Intangible Assets The fair values of in-process research and development (“IPR&D”) and other identified intangible assets acquired in business combinations are capitalized. We utilize the “income method,” which applies a probability weighting that considers the risk of development and commercialization to the estimated future net cash flows that are derived from projected sales revenues and estimated costs or “replacement costs”, whichever is greater. These projections are based on factors such as relevant market size, patent protection, historical pricing of similar products and expected industry trends. The estimated future net cash flows are then discounted to the present value using an appropriate discount rate. This analysis is performed for each IPR&D project and other identified intangible assets, independently. IPR&D assets are treated as indefinite-lived intangible assets until completion or abandonment of the projects, at which time the assets are amortized over the remaining useful life or written off, as appropriate. Other identified intangible assets, which include the technology asset acquired as part of the EXINI business combination, AZEDRA product rights intangible and Somerset intangible, are amortized over the relevant estimated useful lives. The IPR&D assets are tested for impairment at least annually or when a triggering event occurs that could indicate a potential impairment and any impairment loss is recognized in our condensed consolidated statements of operations. Goodwill represents excess consideration in a business combination over the fair value of identifiable net assets acquired. Goodwill is not may one No March 31, 2019 2018. The following tables summarize the activity related to our goodwill and intangible assets (in thousands): Other Intangible Goodwill IPR&D Assets Balance at January 1, 2019 $ 13,074 $ 600 $ 6,066 Increase related to Somerset acquisition $ 4,773 $ - $ 1,245 Amortization expense - - (260 ) Balance at March 31, 2019 $ 17,847 $ 600 $ 7,051 Other Intangible Goodwill IPR&D Assets Balance at January 1, 2018 $ 13,074 $ 28,700 $ 1,669 Amortization expense - - (53 ) Balance at March 31, 2018 $ 13,074 $ 28,700 $ 1,616 The following table reflects the components of the finite-lived intangible assets as of March 31, 2019 ( Gross Amount Accumulated Amortization Net Carrying Value Intangible assets - AZEDRA product rights $ 4,900 $ 467 $ 4,433 Intangible assets - Somerset $ 1,245 $ 32 1,213 Intangible assets - EXINI technology 2,120 715 1,405 Total $ 8,265 $ 1,214 $ 7,051

Note 7 - Accrued Expenses

Note 7 - Accrued Expenses	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	Note 7 . Accrued Expenses The carrying value of our accrued expenses approximates fair value, as it represents amounts that will be satisfied within one March 31, 2019 December 31, 2018 ( March 31, December 31, 2019 2018 Accrued contract manufacturing costs $ 2,946 $ 2,516 Accrued clinical trial costs 1,817 2,318 Accrued payroll and related costs 1,411 2,871 Accrued consulting and service fee expenses 847 1,229 Accrued legal and professional fees 1,529 1,191 Other 954 408 Accrued expenses $ 9,504 $ 10,533

Note 8 - Commitments and Contin

Note 8 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 8 . Commitments and Contingencies We are or may not one Abbreviated New Drug Application Litigations RELISTOR Subcutaneous Injection - Mylan Paragraph IV Certifications On or about October 6, 2015, November 20, 2015, December 22, 2015, December 23, 2015, four District Court Actions Progenics, Salix, Valeant (now Bausch Health Companies Inc., “Bausch”), and Wyeth filed suit against Mylan Pharmaceuticals, Inc. and Mylan Inc. in the District of New Jersey on November 19, 2015 ( 2:15 8180 8,247,425, 8,420,663, 8,552,025, 8,822,490 February 4, 2016, No. 9,180,125. January 4, 2016 ( 2:16 00035 8,247,425, 8,420,663, 8,552,025, 8,822,490 January 25, 2016, No. 9,180,125. September 1, 2017 ( 2:17 06714 No. 9,669,096 September 18, 2017, No. 9,492,445. The 2:15 8180 2:16 00035 2:15 08353 2:16 00889 2:15 08180 May 1, 2018, 8 No. 8,552,025. May 23, 2018, 54 8 ’025 Litigation in the 2:17 06714 not 2:15 8180 Federal Circuit Appeal On May 25, 2018, On July 9, 2018, July 17, 2018, September 12, 2018. February 8, 2019, April 9, 2019. June 18, 2019. RELISTOR Tablets - Actavis Paragraph IV Certifications On or about October 24, 2016 October 24, 2017, two District Court Actions Progenics, Salix, Bausch, and Wyeth filed suit against Actavis Laboratories FL, Inc., Actavis LLC, Teva Pharmaceuticals USA, Inc., and Teva Pharmaceuticals Industries Ltd. in the District of New Jersey on December 6, 2016 ( 2:16 09038 8,420,663, 8,524,276, 8,956,651, 9,180,125, 9,314,461 Progenics, Salix, Bausch, and Wyeth filed suit against Actavis Laboratories FL, Inc., Actavis LLC, Teva Pharmaceuticals USA, Inc., and Teva Pharmaceuticals Industries Ltd. in the District of New Jersey on December 8, 2017 ( 2:17 12857 9,724,343 9,492,445 The 2:16 09038 2:17 12857 2:16 09038 April 4, 2019, May 6, 2019. European Opposition Proceedings In addition to the above described ANDA notifications, in October 2015, three EP1615646 September 24, 2015 EP2368553 September 29, 2015 September 30, 2015 EP2368554 September 24, 2015 May 11, 2017, EP2368553 June 28, 2017, EP1615646 July 4, 2017, EP2368554 For each of the above-described proceedings, we and Bausch continue to cooperate closely to vigorously defend and enforce RELISTOR intellectual property rights. Pursuant to the RELISTOR license agreement between Progenics and Bausch, Bausch has the first We are or may PSMA- 617 German District Court Litigation We announced a lawsuit and associated worldwide patent ownership dispute based on our claims to certain inventions related to PSMA- 617, On November 8, 2018, 617 617, February 27, 2019, On November 27, 2018, 3 038 996 A1 14 799 340.6 18 172 716.5, EP18 184 296.4, 18 203 547.7 December 10, 2018, November 27, 2018. December 20, 2018, 15/131,118; 16/038,729 16/114988 On February 27, 2019, two €416, 000 August 6, 2019

Note 9 - Operating Leases

Note 9 - Operating Leases	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	Note 9. Operating Leases We lease office and manufacturing space and certain office equipment under noncancelable operating leases. We determine whether an arrangement is or contains a lease at its inception. We recognize lease liabilities based on the present value of the minimum lease payments not not 9.5% three March 31, 2019 $0.5 1 11.5 one 5 three March 31, 2019 $0.5 The information related to our leases is as follows (in thousands): March 31, Operating leases 2019 Operating ROU lease assets, noncurrent $ 13,293 Operating lease liabilities, current 414 Operating lease liabilities, noncurrent 14,787 At March 31, 2019, 2019 (excluding the three months ending March 31, 2019) $ 1,364 2020 1,852 2021 1,886 2022 2,133 2023 2,173 Thereafter 16,375 Total future minimum lease payments 25,783 Less imputed interest (10,582 ) Total lease liabilities $ 15,201

Note 10 - Non-recourse Long-ter

Note 10 - Non-recourse Long-term Debt, Net	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 10 . Non-Recourse Long-Term Debt, Net On November 4, 2016, $50.0 no 9.5%. Under the terms of the loan agreement, payments of interest and principal, if any, are made on the last day of each calendar quarter out of RELISTOR royalty payments received since the immediately-preceding payment date. On each payment date prior to March 31, 2018, March 31, 2018, 50% September 30, 2021, June 30, 2025. In connection with the Royalty-Backed Loan, the debt issuance costs have been recorded as a debt discount in our consolidated balance sheets and are being amortized and recorded as interest expense throughout the life of the loan using the effective interest method. The following tables summarize the components of the Royalty-Backed Loan in our condensed consolidated financial statements for the periods presented (in thousands): March 31, December 31, Condensed Consolidated Balance Sheets 2019 2018 Outstanding principal balance, current portion $ 6,326 $ 5,688 Unamortized debt discount, current portion (262 ) (269 ) Current portion of debt, net $ 6,064 $ 5,419 Outstanding principal balance, long-term portion $ 37,999 $ 39,674 Unamortized debt discount, long-term portion (431 ) (494 ) Long-term debt, net $ 37,568 $ 39,180 Three Months Ended March 31, Condensed Consolidated Statements of Operations 2019 2018 Interest expense $ 1,077 $ 1,205 Non-cash interest expense 71 63 Total interest expense included in interest (expense) income, net $ 1,148 $ 1,268 As of March 31, 2019, no

Note 11 - Stockholders' Equity

Note 11 - Stockholders' Equity	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Note 1 1 . Stockholders ’ Equity Common Stock and Preferred Stock We are authorized to issue 160.0 $0.0013, 20.0 $0.001. Shelf Registration During the first 2017, $250.0 $250.0 $75.0 one “2017 In October 2018, no $250.0 $250.0 $75.0 one In addition, in October 2018 2017 “2018 2018 may $75.0 2018 may ten

Note 12 - Stock-based Compensat

Note 12 - Stock-based Compensation	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	Note 1 2 . Stock-Based Compensation Equity Incentive Plans We adopted the following stockholder-approved equity incentive plans: ● The 2005 “2005 11,450,000 2005 June 2018 2018 2005 2018 2005 ● The 2018 “2018 4,800,000 2018 March 27, 2028. The stock option plans provide that options may 100% may ten three five Stock Options The following table summarizes stock options activity for the three March 31, 2019 ( Weighted Weighted Average Number Average Remaining of Shares Exercise Price Contractual Life Outstanding at January 1, 2019 6,264 $ 6.79 6.02 Granted 1,373 $ 4.52 Cancelled (105 ) $ 7.02 Expired (28 ) $ 7.79 Outstanding at March 31, 2019 7,504 $ 6.36 6.53 Exercisable at March 31, 2019 4,860 $ 6.58 5.05 Vested and expected to vest at March 31, 2019 6,749 $ 6.44 6.21 The weighted-average fair value of options granted during the three March 31, 2019 2018 $2.87 $4.34 The total intrinsic value (the excess of the market price over the exercise price) was approximately $0.2 $0.1 $0.2 March 31, 2019. No three March 31, 2019 2018. Stock-Based Compensation Expense We account for stock-based awards issued to employees in accordance with the provisions of ASC 718 718, Compensation – Stock Compensation three five 718 505 50 50 505, Equity 718, We estimated the fair value of the stock options granted on the date of grant using a Black-Scholes valuation model that used the weighted-average assumptions noted in the following table. The risk-free interest rate assumption we use is based upon United States Treasury interest rates appropriate for the expected life of the awards. The expected life (estimated period of time that we expect employees, directors, and consultants to hold their stock options) was estimated based on historical rates for three zero not not Three Months Ended March 31, 2019 2018 Risk-free interest rate 2.62 % 2.68 % Expected life (in years) 6.54 6.66 Expected volatility 66 % 69 % Expected dividend yield -- -- Stock-based compensation expense for the three March 31, 2019 2018 Three Months Ended March 31, 2019 2018 Research and development expenses $ 450 $ 525 Selling, general and administrative expenses 627 523 Total stock-based compensation expense $ 1,077 $ 1,048 At March 31, 2019, $7.1 2.4

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation Our unaudited condensed consolidated financial statements have been prepared in accordance with applicable presentation requirements, and accordingly, do not not Our unaudited condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto contained in our Annual Report on Form 10 December 31, 2018. not
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The condensed consolidated financial statements include the accounts of Progenics as well as its wholly-owned subsidiaries. All material intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results may
Revenue [Policy Text Block]	Revenue Recognition We recognize revenue when our customers obtain control of the promised goods or services, in an amount that reflects the consideration which we expect to receive in exchange for those goods or services. To account for our revenue arrangements, we perform the following five For contracts determined to be within the scope of ASU 2014 09, Revenue from Contracts with Customers (Topic 606 2014 09” 606” not The transaction price is then determined and allocated to the identified performance obligations in proportion to their estimated fair value, which requires significant judgment. Variable consideration, which is estimated using the expected value method or the most likely amount method, is included in the transaction price only if, in our judgment, it is probable that a significant future reversal of cumulative revenue under the contract will not For arrangements that include development, regulatory or sales milestone payments, we evaluate whether the milestones are probable of being reached and estimate the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not not not We then recognize as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. The following table summarizes our revenue streams from contracts with customers for the three March 31, 2019 2018 Three Months Ended March 31, Source 2019 2018 Royalty income $ 4,161 $ 3,058 Other revenue 120 131 Total revenue $ 4,281 $ 3,189 Royalty income Other revenue not We had receivable contract balances of $4.9 $3.8 March 31, 2019 December 31, 2018, Note 5 . Accounts Receivable
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted Cash Restricted cash included in long-term assets of $1.5 March 31, 2019 December 31, 2018,
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency Translation Our international subsidiaries generally consider their respective local currency to be their functional currency. Assets and liabilities of these international subsidiaries are translated into U.S. dollars at quarter-end exchange rates and revenues and expenses are translated at average exchange rates during the quarter and year-to-date period. Foreign currency translation adjustments for the reported periods are included in accumulated other comprehensive loss in our condensed consolidated statements of comprehensive loss, and the cumulative effect is included in the stockholders’ equity section of our condensed consolidated balance sheets. Realized gains and losses denominated in foreign currencies are recorded in operating expenses in our condensed consolidated statements of operations and were not three March 31, 2019 2018.
Lessee, Leases [Policy Text Block]	Leases We determine whether an arrangement is or contains a lease at its inception. We recognize lease liabilities based on the present value of the minimum lease payments not not may The operating lease liabilities are reported in other current liabilities and other noncurrent liabilities and the related ROU lease assets are reported in other noncurrent assets on our condensed consolidated balance sheet. Lease expense for our operating leases is calculated on a straight-line basis over the lease term and is reported in research and development and selling, general and administrative expenses on our condensed consolidated statements of operations. We do not twelve
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment Property and equipment is recorded at historical cost, net of accumulated depreciation and amortization of $2.8 $2.7 March 31, 2019 December 31, 2018, March 31, December 31, 2019 2018 Machinery and equipment $ 3,887 $ 2,992 Leasehold improvements 3,034 1,734 Computer equipment 621 721 Furniture and fixtures 878 878 Construction in progress 455 317 Property and equipment, gross 8,875 6,642 Less - accumulated depreciation (2,813 ) (2,698 ) Property and equipment, net $ 6,062 $ 3,944

Note 1 - Summary of Significa_2

Note 1 - Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended March 31, Source 2019 2018 Royalty income $ 4,161 $ 3,058 Other revenue 120 131 Total revenue $ 4,281 $ 3,189
Property, Plant and Equipment [Table Text Block]	March 31, December 31, 2019 2018 Machinery and equipment $ 3,887 $ 2,992 Leasehold improvements 3,034 1,734 Computer equipment 621 721 Furniture and fixtures 878 878 Construction in progress 455 317 Property and equipment, gross 8,875 6,642 Less - accumulated depreciation (2,813 ) (2,698 ) Property and equipment, net $ 6,062 $ 3,944

Note 3 - Net Loss Per Share (Ta

Note 3 - Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Weighted-Average Shares Net Loss Outstanding Per Share (Numerator) (Denominator) Amount Three months ended March 31, 2019 Basic and diluted $ (18,735 ) 84,542 $ (0.22 ) Three months ended March 31, 2018 Basic and diluted $ (13,424 ) 72,517 $ (0.19 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended March 31, 2019 2018 Stock options 6,522 3,483 Contingent consideration liability (1) 2,565 2,359 Total securities excluded 9,087 5,842

Note 4 - Fair Value Measureme_2

Note 4 - Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Fair Value Measurements at March 31, 2019 Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable Balance at Identical Assets Inputs Inputs March 31, 2019 (Level 1) (Level 2) (Level 3) Assets: Money market funds $ 104,875 $ 104,875 $ - $ - Total assets $ 104,875 $ 104,875 $ - $ - Liabilities: Contingent consideration liability $ 11,900 $ - $ - $ 11,900 Total liabilities $ 11,900 $ - $ - $ 11,900 Fair Value Measurements at December 31, 2018 Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable Balance at Identical Assets Inputs Inputs December 31, 2018 (Level 1) (Level 2) (Level 3) Assets: Money market funds $ 136,052 $ 136,052 $ - $ - Total assets $ 136,052 $ 136,052 $ - $ - Liabilities: Contingent consideration liability $ 11,000 $ - $ - $ 11,000 Total liabilities $ 11,000 $ - $ - $ 11,000
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]	Program Consideration Form of Payment at Progenics' Option AZEDRA $ 8,000 Cash or Progenics common stock 1404 10,000 Cash or Progenics common stock 1095 5,000 Cash or Progenics common stock $ 23,000 Consideration Form of Payment at Progenics' Option $30 million $ 5,000 Cash or Progenics common stock $60 million 5,000 Cash or Progenics common stock $100 million 10,000 Cash or Progenics common stock $250 million 20,000 Cash or Progenics common stock $500 million 30,000 Cash or Progenics common stock $ 70,000
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Table Text Block]	Fair Value at March 31, 2019 Valuation Technique Unobservable Input Assumption Contingent Consideration Liability: AZEDRA commercialization $ 7,900 Probability adjusted discounted Probability of success 100% cash flow model Period of expected milestone achievement 2019 Discount rate 10% 1095 commercialization 450 Probability adjusted discounted Probability of success 18% cash flow model Period of expected milestone achievement 2026 Discount rate 10% Net sales targets 3,550 Monte-Carlo simulation Probability of success 18% - 90% Discount rate 10% Total $ 11,900 Fair Value at December 31, 2018 Valuation Technique Unobservable Input Assumption Contingent Consideration Liability: AZEDRA commercialization $ 7,050 Probability adjusted discounted Probability of success 90% cash flow model Period of expected milestone achievement 2019 Discount rate 10% 1095 commercialization 450 Probability adjusted discounted Probability of success 18% cash flow model Period of expected milestone achievement 2026 Discount rate 10% Net sales targets 3,500 Monte-Carlo simulation Probability of success 18% - 90% Discount rate 10% Total $ 11,000
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Liability - Contingent Consideration Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended March 31, 2019 2018 Balance at beginning of period $ 11,000 $ 16,800 Fair value change included in net loss 900 800 Balance at end of period $ 11,900 $ 17,600 Changes in unrealized gains or losses for the period included in earnings (or changes in net assets) for liabilities held at the end of the reporting period $ 900 $ 800

Note 5 - Accounts Receivable (T

Note 5 - Accounts Receivable (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	March 31, December 31, 2019 2018 Royalties $ 4,161 $ 3,151 Other 774 652 Accounts receivable, net $ 4,935 $ 3,803

Note 6 -Recent Acquisition, G_2

Note 6 -Recent Acquisition, Goodwill, In-process Research and Development and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	Amount Cash consideration $ 8,000 Tangible assets acquired: Machinery and equipment 682 Leasehold improvements 1,300 Total tangible assets acquired 1,982 Intangible assets - Somerset 1,245 Total tangible and intangible assets acquired 3,227 Goodwill $ 4,773
Schedule of Intangible Assets and Goodwill [Table Text Block]	Other Intangible Goodwill IPR&D Assets Balance at January 1, 2019 $ 13,074 $ 600 $ 6,066 Increase related to Somerset acquisition $ 4,773 $ - $ 1,245 Amortization expense - - (260 ) Balance at March 31, 2019 $ 17,847 $ 600 $ 7,051 Other Intangible Goodwill IPR&D Assets Balance at January 1, 2018 $ 13,074 $ 28,700 $ 1,669 Amortization expense - - (53 ) Balance at March 31, 2018 $ 13,074 $ 28,700 $ 1,616
Components of Finite Lived Intangible Assets [Table Text Block]	Gross Amount Accumulated Amortization Net Carrying Value Intangible assets - AZEDRA product rights $ 4,900 $ 467 $ 4,433 Intangible assets - Somerset $ 1,245 $ 32 1,213 Intangible assets - EXINI technology 2,120 715 1,405 Total $ 8,265 $ 1,214 $ 7,051

Note 7 - Accrued Expenses (Tabl

Note 7 - Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	March 31, December 31, 2019 2018 Accrued contract manufacturing costs $ 2,946 $ 2,516 Accrued clinical trial costs 1,817 2,318 Accrued payroll and related costs 1,411 2,871 Accrued consulting and service fee expenses 847 1,229 Accrued legal and professional fees 1,529 1,191 Other 954 408 Accrued expenses $ 9,504 $ 10,533

Note 9 - Operating Leases (Tabl

Note 9 - Operating Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Lease, Cost [Table Text Block]	March 31, Operating leases 2019 Operating ROU lease assets, noncurrent $ 13,293 Operating lease liabilities, current 414 Operating lease liabilities, noncurrent 14,787
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	2019 (excluding the three months ending March 31, 2019) $ 1,364 2020 1,852 2021 1,886 2022 2,133 2023 2,173 Thereafter 16,375 Total future minimum lease payments 25,783 Less imputed interest (10,582 ) Total lease liabilities $ 15,201

Note 10 - Non-recourse Long-t_2

Note 10 - Non-recourse Long-term Debt, Net (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	March 31, December 31, Condensed Consolidated Balance Sheets 2019 2018 Outstanding principal balance, current portion $ 6,326 $ 5,688 Unamortized debt discount, current portion (262 ) (269 ) Current portion of debt, net $ 6,064 $ 5,419 Outstanding principal balance, long-term portion $ 37,999 $ 39,674 Unamortized debt discount, long-term portion (431 ) (494 ) Long-term debt, net $ 37,568 $ 39,180 Three Months Ended March 31, Condensed Consolidated Statements of Operations 2019 2018 Interest expense $ 1,077 $ 1,205 Non-cash interest expense 71 63 Total interest expense included in interest (expense) income, net $ 1,148 $ 1,268

Note 12 - Stock-based Compens_2

Note 12 - Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Weighted Weighted Average Number Average Remaining of Shares Exercise Price Contractual Life Outstanding at January 1, 2019 6,264 $ 6.79 6.02 Granted 1,373 $ 4.52 Cancelled (105 ) $ 7.02 Expired (28 ) $ 7.79 Outstanding at March 31, 2019 7,504 $ 6.36 6.53 Exercisable at March 31, 2019 4,860 $ 6.58 5.05 Vested and expected to vest at March 31, 2019 6,749 $ 6.44 6.21
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Three Months Ended March 31, 2019 2018 Risk-free interest rate 2.62 % 2.68 % Expected life (in years) 6.54 6.66 Expected volatility 66 % 69 % Expected dividend yield -- --
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended March 31, 2019 2018 Research and development expenses $ 450 $ 525 Selling, general and administrative expenses 627 523 Total stock-based compensation expense $ 1,077 $ 1,048

Note 1 - Summary of Significa_3

Note 1 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands	1 Months Ended	3 Months Ended
	Feb. 28, 2019USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Payments to Acquire Businesses, Gross		$ 8,000
Cash and Cash Equivalents, at Carrying Value, Ending Balance		109,587	83,431	$ 137,686	$ 90,642
Cash and Cash Equivalents, Period Increase (Decrease), Total		(28,100)
Accounts Receivable, after Allowance for Credit Loss, Current, Total		4,935		3,803
Restricted Cash and Cash Equivalents, Noncurrent, Total		1,540	1,524	1,534	$ 1,522
Foreign Currency Transaction Gain (Loss), Realized		0	$ 0
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment, Ending Balance		$ 2,813		$ 2,698
Number of Operating Segments		1
AZEDRA [Member]
Payments to Acquire Businesses, Gross	$ 8,000

Note 1 - Summary of Significa_4

Note 1 - Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenue	$ 4,281	$ 3,189
Royalty [Member]
Revenue	4,161	3,058
Product and Service, Other [Member]
Revenue	$ 120	$ 131

Note 1 - Summary of Significa_5

Note 1 - Summary of Significant Accounting Policies - Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Property and equipment, gross	$ 8,875	$ 6,642
Less - accumulated depreciation	(2,813)	(2,698)
Property and equipment, net	6,062	3,944
Machinery and Equipment [Member]
Property and equipment, gross	3,887	2,992
Leasehold Improvements [Member]
Property and equipment, gross	3,034	1,734
Computer Equipment [Member]
Property and equipment, gross	621	721
Furniture and Fixtures [Member]
Property and equipment, gross	878	878
Construction in Progress [Member]
Property and equipment, gross	$ 455	$ 317

Note 2 - New Accounting Prono_2

Note 2 - New Accounting Pronouncements (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Operating Lease, Liability, Total	$ 15,201
Operating Lease, Right-of-Use Asset	$ 13,293
Accounting Standards Update 2016-02 [Member]
Operating Lease, Liability, Total		$ 15,300
Operating Lease, Right-of-Use Asset		$ 13,500

Note 3 - Net Loss Per Share - C

Note 3 - Net Loss Per Share - Calculations of Net (Loss) Income Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Basic and diluted, net loss attributable to Progenics	$ (18,735)	$ (13,424)
Basic and diluted, weighted average shares outstanding (in shares)	84,542	72,517
Basic and diluted, per share amount (in dollars per share)	$ (0.22)	$ (0.19)

Note 3 - Net Loss Per Share -_2

Note 3 - Net Loss Per Share - Common Shares Excluded from Calculation of Diluted Net (Loss) Income Per Share (Details) - shares shares in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Antidilutive securities (in shares)		9,087	5,842
Share-based Payment Arrangement, Option [Member]
Antidilutive securities (in shares)		6,522	3,483
Contingent Consideration Liability [Member]
Antidilutive securities (in shares)	[1]	2,565	2,359
[1]	Calculated as follows: (a) the contingent consideration liability balance divided by (b) the closing stock price of our common stock.

Note 4 - Fair Value Measureme_3

Note 4 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Business Combination, Contingent Consideration, Liability, Total	$ 11,900		$ 11,000
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	$ 900	$ 800

Note 4 - Fair Value Measureme_4

Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Money market funds	$ 104,875	$ 136,052
Total assets	104,875	136,052
Fair value	11,900	11,000
Total liabilities	11,900	11,000
Fair Value, Inputs, Level 1 [Member]
Money market funds	104,875	136,052
Total assets	104,875	136,052
Fair value
Total liabilities
Fair Value, Inputs, Level 2 [Member]
Money market funds
Total assets
Fair value
Total liabilities
Fair Value, Inputs, Level 3 [Member]
Money market funds
Total assets
Fair value	11,900	11,000
Total liabilities	$ 11,900	$ 11,000

Note 4 - Fair Value Measureme_5

Note 4 - Fair Value Measurements - Contingent Consideration Liabilities (Details) $ in Millions	Mar. 31, 2019USD ($)
Molecular Insight Pharmaceuticals, Inc. [Member] | Milestone Payment upon First Commercial Sale [Member]
Contingent Consideration	$ 23
Molecular Insight Pharmaceuticals, Inc. [Member] | Milestone Payment upon Achievement of All Levels of Net Sales [Member]
Contingent Consideration	70
Molecular Insight Pharmaceuticals, Inc. [Member] | Milestone Payment upon Achievement of Net Sales Level 2 [Member]
Contingent Consideration	5
Molecular Insight Pharmaceuticals, Inc. [Member] | Milestone Payment upon Achievement of Net Sales Level 3 [Member]
Contingent Consideration	10
Molecular Insight Pharmaceuticals, Inc. [Member] | Milestone Payment upon Achievement of Net Sales Level 4 [Member]
Contingent Consideration	20
Molecular Insight Pharmaceuticals, Inc. [Member] | Milestone Payment upon Achievement of Net Sales Level 5 [Member]
Contingent Consideration	30
Milestone Payment upon Achievement of Net Sales Level 1 [Member] | Milestone Payment upon Achievement of All Levels of Net Sales [Member]
Contingent Consideration	5
AZEDRA Program [Member] | Molecular Insight Pharmaceuticals, Inc. [Member] | Milestone Payment upon First Commercial Sale [Member]
Contingent Consideration	8
The 1404 Program [Member] | Molecular Insight Pharmaceuticals, Inc. [Member] | Milestone Payment upon First Commercial Sale [Member]
Contingent Consideration	10
The 1095 Program[Member] | Molecular Insight Pharmaceuticals, Inc. [Member] | Milestone Payment upon First Commercial Sale [Member]
Contingent Consideration	$ 5

Note 4 - Fair Value Measureme_6

Note 4 - Fair Value Measurements - Quantitative Information for Fair Value Measurement of Level 3 (Details) $ in Thousands	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Fair value	$ 11,900	$ 11,000
AZEDRA Commercialization [Member]
Fair value	$ 7,900	$ 7,050
AZEDRA Commercialization [Member] | Measurement Input, Probability of Success [Member]
Measurement input	1	0.9
AZEDRA Commercialization [Member] | Measurement Input, Period of Expected Milestone Achievement [Member]
Measurement input	2,019	2,019
AZEDRA Commercialization [Member] | Measurement Input, Discount Rate [Member]
Measurement input	0.1	0.1
MIP-1095 Commercialization [Member]
Fair value	$ 450	$ 450
MIP-1095 Commercialization [Member] | Measurement Input, Probability of Success [Member]
Measurement input	0.18	0.18
MIP-1095 Commercialization [Member] | Measurement Input, Period of Expected Milestone Achievement [Member]
Measurement input	2,026	2,026
MIP-1095 Commercialization [Member] | Measurement Input, Discount Rate [Member]
Measurement input	0.1	0.1
Net sales targets [Member]
Fair value	$ 3,550	$ 3,500
Net sales targets [Member] | Measurement Input, Probability of Success [Member] | Minimum [Member]
Measurement input	0.18	0.18
Net sales targets [Member] | Measurement Input, Probability of Success [Member] | Maximum [Member]
Measurement input	0.9	0.9
Net sales targets [Member] | Measurement Input, Discount Rate [Member]
Measurement input	0.1	0.1

Note 4 - Fair Value Measureme_7

Note 4 - Fair Value Measurements - Summary of Activities in Financial Instruments With Level 3 Inputs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Balance	$ 11	$ 16.8
Fair value change included in net loss	0.9	0.8
Balance	11.9	17.6
Changes in unrealized gains or losses for the period included in earnings (or changes in net assets) for liabilities held at the end of the reporting period	$ 0.9	$ 0.8

Note 5 - Accounts Receivable -

Note 5 - Accounts Receivable - Summary of Accounts Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Accounts receivable, net	$ 4,935	$ 3,803
Royalties [Member]
Accounts receivable, net	4,161	3,151
Other [Member]
Accounts receivable, net	$ 774	$ 652

Note 6 -Recent Acquisition, G_3

Note 6 -Recent Acquisition, Goodwill, In-process Research and Development and Other Intangible Assets (Details Textual) $ in Thousands	1 Months Ended	3 Months Ended
	Feb. 28, 2019USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)
Finite-Lived Intangible Asset, Useful Life		6 years
Payments to Acquire Businesses, Gross		$ 8,000
Number of Reporting Units		1
Goodwill, Impairment Loss		$ 0	$ 0
AZEDRA [Member]
Payments to Acquire Businesses, Gross	$ 8,000

Note 6 - Recent Acquisition, Go

Note 6 - Recent Acquisition, Goodwill, In-process Research and Development and Other Intangible Assets - Consideration and Assets Acquired (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Feb. 28, 2019	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Cash consideration		$ 8,000
Goodwill		$ 17,847	$ 13,074	$ 13,074	$ 13,074
AZEDRA [Member]
Cash consideration	$ 8,000
Machinery and equipment	682
Leasehold improvements	1,300
Total tangible assets acquired	1,982
Intangible assets - Somerset	1,245
Total tangible and intangible assets acquired	3,227
Goodwill	$ 4,773

Note 6 - Recent Acquisition, _2

Note 6 - Recent Acquisition, Goodwill, In-process Research and Development and Other Intangible Assets - Summary of Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Balance, Goodwill	$ 13,074	$ 13,074
Increase related to Somerset acquisition	4,773
Amortization expense
Balance, Goodwill	17,847	13,074
Balance, Finite-lived Intangible Assets	7,051
In Process Research and Development [Member]
Balance, Finite-lived Intangible Assets	600	28,700
Increase related to Somerset acquisition
Amortization expense, Finite-lived Intangible Assets
Balance, Finite-lived Intangible Assets	600	28,700
Other Intangible Assets [Member]
Balance, Finite-lived Intangible Assets	6,066	1,669
Increase related to Somerset acquisition	1,245
Amortization expense, Finite-lived Intangible Assets	(260)	(53)
Balance, Finite-lived Intangible Assets	$ 7,051	$ 1,616

Note 6 - Recent Acquisition, _3

Note 6 - Recent Acquisition, Goodwill, In-process Research and Development and Other Intangible Assets - Components of Finite-lived Intangible Assets (Details) $ in Thousands	Mar. 31, 2019USD ($)
Gross amount	$ 8,265
Accumulated amortization	1,214
Net carrying value	7,051
AZEDRA Product Rights [Member]
Gross amount	4,900
Accumulated amortization	467
Net carrying value	4,433
Somerset [Member]
Gross amount	1,245
Accumulated amortization	32
Net carrying value	1,213
EXINI Technology [Member]
Gross amount	2,120
Accumulated amortization	715
Net carrying value	$ 1,405

Note 7 - Accrued Expenses - Sum

Note 7 - Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Accrued contract manufacturing costs	$ 2,946	$ 2,516
Accrued clinical trial costs	1,817	2,318
Accrued payroll and related costs	1,411	2,871
Accrued consulting and service fee expenses	847	1,229
Accrued legal and professional fees	1,529	1,191
Other	954	408
Accrued expenses	$ 9,504	$ 10,533

Note 8 - Commitments and Cont_2

Note 8 - Commitments and Contingencies (Details Textual)	Feb. 27, 2019EUR (€)
Deposit With Court as Security [Member] | Pending Litigation [Member]
Estimated Litigation Liability	€ 416,000

Note 9 - Operating Leases (Deta

Note 9 - Operating Leases (Details Textual) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Operating Lease, Weighted Average Discount Rate, Percent	9.50%
Operating Lease, Expense	$ 0.5
Lessee, Operating Lease, Renewal Term	5 years
Operating Lease, Payments	$ 0.5
Minimum [Member]
Lessee, Operating Lease, Remaining Lease Term	1 year
Maximum [Member]
Lessee, Operating Lease, Remaining Lease Term	11 years 182 days

Note 9 - Operating Leases - Lea

Note 9 - Operating Leases - Lease Information (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Operating ROU lease assets, noncurrent	$ 13,293
Operating lease liabilities, current	414
Operating lease liabilities, noncurrent	$ 14,787

Note 9 - Operating Leases - Fut

Note 9 - Operating Leases - Future Lease Payments (Details) $ in Thousands	Mar. 31, 2019USD ($)
2019 (excluding the three months ending March 31, 2019)	$ 1,364
2020	1,852
2021	1,886
2022	2,133
2023	2,173
Thereafter	16,375
Total future minimum lease payments	25,783
Less imputed interest	(10,582)
Total lease liabilities	$ 15,201

Note 10 - Non-recourse Long-t_3

Note 10 - Non-recourse Long-term Debt, Net (Details Textual) - Royalty-backed Loan [Member] - USD ($) $ in Millions	Nov. 04, 2016	Mar. 31, 2019
Proceeds from Issuance of Long-term Debt, Total	$ 50
Debt Instrument, Interest Rate, Stated Percentage	9.50%
Percentage of Royalty Payments in Excess of Accrued Loan Interest to be Applied to Principal		50.00%

Note 10 - Non-recourse Long-t_4

Note 10 - Non-recourse Long-term Debt, Net - Summary of Royalty-backed Loan (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Current portion of debt, net	$ 6,064		$ 5,419
Long-term debt, net	37,568		39,180
Royalty-backed Loan [Member]
Outstanding principal balance, current portion	6,326		5,688
Unamortized debt discount, current portion	(262)		(269)
Current portion of debt, net	6,064		5,419
Outstanding principal balance, long-term portion	37,999		39,674
Unamortized debt discount, long-term portion	(431)		(494)
Long-term debt, net	37,568		$ 39,180
Interest expense	1,077	$ 1,205
Non-cash interest expense	71	63
Total interest expense included in interest (expense) income, net	$ 1,148	$ 1,268

Note 11 - Stockholders' Equity

Note 11 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	1 Months Ended	3 Months Ended
	Oct. 31, 2018	Mar. 31, 2017	Mar. 31, 2019	Dec. 31, 2018
Common Stock, Shares Authorized			160,000	160,000
Common Stock, Par or Stated Value Per Share			$ 0.0013	$ 0.0013
Preferred Stock, Shares Authorized			20,000	20,000
Preferred Stock, Par or Stated Value Per Share			$ 0.001	$ 0.001
Replacement Shelf Registration	$ 250	$ 250
Common Stock Sales Agreement with Agent, Maximum Aggregate Offering Price	$ 75	$ 75

Note 12 - Stock-based Compens_3

Note 12 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 2.87	$ 4.34
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 200
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	100
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value	200
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 0	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%	0.00%
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount	$ 7,100
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	2 years 146 days
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Share-based Payment Arrangement, Option [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Share-based Payment Arrangement, Option [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years
The 2005 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	11,450,000
The 2018 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	4,800,000

Note 12 - Stock-based Compens_4

Note 12 - Stock-based Compensation - Summary of Option Activity Under the Plans (Details) - $ / shares shares in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Outstanding, shares (in shares)	6,264
Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 6.36	$ 6.79
Outstanding, Weighted Average Remaining Contractual Life (Year)	6 years 193 days	6 years 7 days
Granted, shares (in shares)	1,373
Granted, Weighted Average Exercise Price (in dollars per share)	$ 4.52
Cancelled, shares (in shares)	(105)
Cancelled, Weighted Average Exercise Price (in dollars per share)	$ 7.02
Expired, shares (in shares)	(28)
Expired, Weighted Average Exercise Price (in dollars per share)	$ 7.79
Outstanding, shares (in shares)	7,504	6,264
Exercisable, shares (in shares)	4,860
Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 6.58
Exercisable, Weighted Average Remaining Contractual Life (Year)	5 years 18 days
Vested and expected to vest, shares (in shares)	6,749
Vested and expected to vest, Weighted Average Exercise Price (in dollars per share)	$ 6.44
Vested and expected to vest, Weighted Average Remaining Contractual Life (Year)	6 years 76 days

Note 12 - Stock-based Compens_5

Note 12 - Stock-based Compensation - Assumptions Used in Computing the Fair Value of Option Grants (Details)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Risk-free interest rate	2.62%	2.68%
Expected life (in years) (Year)	6 years 197 days	6 years 240 days
Expected volatility	66.00%	69.00%
Expected dividend yield	0.00%	0.00%

Note 12 - Stock-based Compens_6

Note 12 - Stock-based Compensation - Allocation of Recognized Period Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Total compensation expense recognized	$ 1,077	$ 1,048
Research and Development Expense [Member]
Total compensation expense recognized	450	525
Selling, General and Administrative Expenses [Member]
Total compensation expense recognized	$ 627	$ 523