Progenics Pharmaceuticals Inc. (PGNX) shares fell in the extended session Wednesday after the cancer drug company said one of its imaging agents was not sensitive enough to detect prostate cancer in a clinical study. Progenics shares fell 19% after hours, following a 1.6% decline to close the regular session at $7.30. The company said a late-stage clinical trial found its so-called "1404" imaging agent needed to positively detect prostate cancer with a 60% or more sensitivity but did so with a 47% to 51% range. The imaging agent, however, was able to detect the absence of prostate cancer correctly with a specificity of 71% to 75% compared with the study target of 60% or more.
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