Subsequent Events

12 Months Ended

Dec. 31, 2012

Subsequent Events [Abstract]

Subsequent Events [Text Block]

15. Subsequent Event

We acquired MIP in January 2013 pursuant to a Stock Purchase and Sale Agreement with its stockholders and their representative, under which we purchased all of MIP's outstanding capital stock in consideration of the issuance by Progenics to the stockholders of 4,566 shares (500 of which is in escrow) of Progenics common stock in a private transaction exempt from the registration requirements of the U.S. Securities Act of 1933 and therefore subject to transfer restrictions at the time of issuance. (The closing NASDAQ market price of Progenics' freely transferable common shares on January 18, 2013, the date this acquisition was consummated, was $2.83 per share.) Under the Agreement, Progenics also agreed to pay to the stockholders potential milestones, in cash or Progenics stock at Progenics' option, of up to $23 million contingent upon achieving specified commercialization events and up to $70 million contingent upon achieving specified sales targets relating to all MIP products. The Agreement contains customary representations and warranties regarding MIP, the stockholders, their representative, and Progenics, as well as covenants, indemnification and other provisions. This acquisition is to be accounted for using the acquisition method of accounting. As of the completion of the acquisition, MIP's assets and liabilities will be recorded at their respective fair values and added to those of Progenics. The final determination of acquisition consideration results from the completion of the analysis of the fair value of MIP's assets and liabilities and any difference between the acquisition consideration and the fair value of the identifiable net assets is to be recorded as goodwill.