8-K

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                    FORM 8-K
                                 CURRENT REPORT



     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934



          Date of Report (Date of earliest event reported) May 13, 2003



                         Progenics Pharmaceuticals, Inc.
             (Exact name of registrant as specified in its charter)



              Delaware              000-23143                 13-3379479
    (State or other jurisdiction    (Commission            (IRS Employer
         of incorporation)          File Number)        Identification No.)



             777 Old Saw Mill River Road, Tarrytown, New York   10591
               (Address of principal executive offices)      (Zip Code)


        Registrant's telephone number, including area code (914) 789-2800




         (Former name or former address, if changed since last report.)







Item 7.  Financial Statements and Exhibits

(c) Exhibits

         Exhibit 99.1      Description
                           Press Release dated May 13, 2003 (filed herewith).


Item 9. Regulation FD Disclosure.

         On May 13, 2003, Progenics Pharmaceuticals, Inc. issued a press release
announcing the initiation of a phase 2 clinical trial of its investigational
drug methylnaltrexone for the treatment of post-operative ileus, a paralysis of
the gastrointestinal tract that often occurs after surgery. The press release
also published new phase 1 clinical trial data that shows that methylnaltrexone
stimulates gastrointestinal mobility in absence of opioids. A copy of the press
release is attached as Exhibit 99.1.

         The information furnished pursuant to Item 9 in this Form 8-K shall not
be deemed to be "filed" for the purposes of Section 18 of the Securities
Exchange Act of 1934 or otherwise subject to the liabilities of that Section,
unless we specifically incorporate it by reference in a document filed under the
Securities Act of 1933 or the Securities Exchange Act of 1934. We undertake no
duty or obligation to publicly update or revise the information furnished
pursuant to Item 9 in this Form 8-K.









                                   SIGNATURES

                  Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.

                       PROGENICS PHARMACEUTICALS, INC.


                       By:  /s/ PHILIP K. YACHMETZ
                            -----------------------
                                Philip K. Yachmetz
                                Vice President, General Counsel and Secretary


Date:  May 13, 2003

EX-99

                                                                    Exhibit 99.1

Progenics Initiates Phase 2 Clinical Trial of Methylnaltrexone to
Treat Post-Operative Ileus; New Findings Show MNTX Also Stimulates GI
Motility in Absence of Opioids

    TARRYTOWN, N.Y.--(BUSINESS WIRE)--May 13, 2003--Progenics
Pharmaceuticals, Inc. (NASDAQ:PGNX) announced today that it has
initiated a phase 2 clinical trial of its investigational drug,
methylnaltrexone (MNTX), for post-operative ileus (POI), a paralysis
of the gastrointestinal tract that often occurs after surgery.
    The Company estimates that each year more than four-million
patients are at high risk for developing POI, a condition with no
approved treatment. POI contributes to prolonged hospital stays and
thereby increases healthcare costs.
    During surgery, the body releases endogenous opioids that bind to
receptors in the gut and result in POI. This condition is exacerbated
by opioid pain medications that most patients receive after surgery.
Ileus can lead to the inability to tolerate oral liquids or solid
food, nausea and vomiting, discomfort, and constipation. Because
patients cannot be discharged until gastrointestinal function is
restored, these effects are the leading cause of prolonged
post-operative hospital stays. By blocking opioid receptors within the
gastrointestinal tract, MNTX is designed to treat ileus.
    "Virtually all patients who undergo abdominal, laproscopic, or
prolonged surgical procedures experience bowel dysfunction," said
Robert J. Israel, M.D., Progenics' Senior Vice President of Medical
Affairs. "If MNTX can reverse this form of bowel paralysis, it has the
potential for broad clinical utility in post-operative patients. We
believe that physicians may be able to use MNTX to decrease the
duration and severity of post-operative ileus and to accelerate
recovery and discharge."
    To evaluate the tolerability and clinical activity of MNTX in POI,
a multi-center, randomized, double-blind study is being conducted in
60 individuals who have undergone colectomies, the removal of all or
part of the colon. Colectomies typically have a long period of ileus,
often five days or more.
    Shortly after surgery, patients will receive either placebo or a
0.30 mg/kg dose of intravenous MNTX. Study medication will then be
administered every six hours until the recovery of bowel function. The
endpoints of the study include restoration of bowel function and
discharge eligibility. The Company also plans to initiate a phase 2
study of MNTX later this year in another patient population at high
risk for ileus, women who have undergone hysterectomies.

    New Data Show That MNTX Stimulates Gastrointestinal Mobility in
Absence of Opioids

    Prior to entering the phase 2 trial in post-operative ileus, the
Company completed a phase 1 clinical trial of MNTX dosing in normal
volunteers. In this study, twelve individuals received intravenously
administered MNTX (0.30 mg/kg) every six hours for three days.
Repeated dosing with MNTX produced a 20% (p(less than)0.05) decrease
in mean oral-cecal transit time, a measure of the rate at which
ingested food moves through the gastrointestinal tract. These findings
suggest that endogenous opioids may play a role in the modulation of
gastrointestinal motility. There were no serious side effects reported
in the study. A presentation of these data is scheduled for the
Digestive Disease Week conference of the American Gastroenterological
Association (AGA) in Orlando, on May 20, 2003.
    "These phase 1 studies showed for the first time that MNTX
stimulates gastrointestinal motility in normal subjects," said Chun-Su
Yuan, M.D., Ph.D., Associate Professor, Department of Anesthesia and
Critical Care, Pritzker School of Medicine, The University of Chicago,
and lead author of the AGA presentation. "Our findings suggest that in
addition to potential utility in post-operative ileus and opioid
induced constipation MNTX may be useful in other disorders of impaired
bowel motility."
    Progenics is developing MNTX in three parallel clinical programs
to address unmet medical needs in broad markets. Subcutaneous dosing
of MNTX for opioid-induced bowel dysfunction in advanced medical
illness (AMI) is being evaluated in a phase 3 clinical trial. Recently
the Company reported positive phase 2 clinical trial results in the
AMI setting. Intravenous dosing for post-operative ileus is in phase
2, and a phase 1 clinical trial of an oral formulation of MNTX for use
in individuals taking opioids chronically is planned for this year.

    Company Profile

    Progenics Pharmaceuticals, Inc. of Tarrytown, NY, is a
biopharmaceutical company focusing on the development and
commercialization of innovative therapeutic products to treat the
unmet medical needs of patients with debilitating conditions and
life-threatening diseases. The Company applies its expertise in
immunology and molecular biology to develop biopharmaceuticals to
fight viral diseases, such as human immunodeficiency virus (HIV)
infection, and cancers, including malignant melanoma and prostate
cancer. In symptom management and supportive care, therapies are being
developed to provide patients with an improved quality of life.
Progenics' most clinically advanced product is methylnaltrexone, a
compound in phase 3 clinical testing that is designed to block the
debilitating side effects of opioid analgesics without interfering
with pain palliation. The Company is conducting multi-dose phase 2
clinical trials with its lead HIV product, PRO 542, a viral-entry
inhibitor and is in preclinical development with PRO 140 and other
follow-on product candidates in HIV infection. The Company is
developing cancer immunotherapies based on PSMA (prostate-specific
membrane antigen) technology and currently is conducting phase 1
clinical studies of a therapeutic prostate cancer vaccine. GMK is a
cancer vaccine in phase 3 clinical trials for the treatment of
malignant melanoma.

    DISCLOSURE NOTICE: The information contained in this document is
as of May 13, 2003. This press release contains forward-looking
statements. Any statements contained herein that are not statements of
historical fact may be forward-looking statements. When the Company
uses the words 'anticipates,' 'plans,' 'expects' and similar
expressions they are identifying forward-looking statements. Such
forward-looking statements involve risks and uncertainties which may
cause the Company's actual results, performance or achievements to be
materially different from those expressed or implied by
forward-looking statements. Such factors include, among others, the
uncertainties associated with product development, the risk that
clinical trials will not commence when or proceed as planned, the
risks and uncertainties associated with dependence upon the actions of
the Company's corporate, academic and other collaborators and of
government regulatory agencies, the risk that products that appear
promising in early clinical trials do not demonstrate efficacy in
larger-scale clinical trials, the uncertainty of future profitability
and other factors set forth more fully in the Company's Annual Report
on Form 10-K for the fiscal year ended December 31, 2002 and other
periodic filings with the Securities and Exchange Commission to which
investors are referred for further information. In particular, the
Company cannot assure you that any of the their programs will result
in a commercial product.
    Progenics does not have a policy of updating or revising
forward-looking statements and assumes no obligation to update any
forward-looking statements contained in this document as a result of
new information or future events or developments. Thus, it should not
be assumed that the Company's silence over time means that actual
events are bearing out as expressed or implied in such forward-looking
statements.

Editor's Note: Additional information on Progenics is available at
http://www.progenics.com.

    CONTACT: Progenics Pharmaceuticals, Inc.
             Richard W. Krawiec, Ph.D., 914/789-2800
             rkrawiec@progenics.com