Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2017

Liquidity [Policy Text Block]

Liquidity

June 30, 2017,

we had

$114.0

million of cash and cash equivalents, a decrease of

$24.9

million from

$138.9

million at

December 31, 2016.

We expect that this amount will be sufficient to fund operations as currently anticipated beyond

one

year from the filing date of this Form

-Q. We have historically funded our operations to a significant extent from capital-raising and we expect to require additional funding in the future, the availability of which is never guaranteed and

may

be uncertain. We expect that we

may

continue to incur operating losses for the foreseeable future.

Basis of Accounting, Policy [Policy Text Block]

Basis of Presentation

Our interim condensed consolidated financial statements have been prepared in accordance with applicable presentation requirements, and accordingly, do

not

include all information and disclosures necessary for a presentation of our financial position, results of operations, and cash flows in conformity with accounting principles generally accepted in the U.S. (“GAAP”). In the opinion of management, these financial statements reflect all adjustments, consisting primarily of normal recurring accruals necessary for a fair statement of results for the periods presented. The results of operations for interim periods are

not

necessarily indicative of the results for the full year.

Our interim condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto contained in our Annual Report on Form

-K for the year ended

December 31, 2016.

The year-end consolidated balance sheet data in these financial statements were derived from audited financial statements but do

not

include all disclosures required by GAAP. Certain prior period amounts in our condensed consolidated financial statements have been reclassified to conform to the current period presentation.

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.

December 2015,

we commenced a judicial process in Sweden for acquiring the remaining shares of EXINI. On

December 8, 2016,

a Swedish arbitral tribunal awarded us advanced title to the remaining shares of EXINI and, as of that date, EXINI became a wholly-owned subsidiary with

100%

of the voting shares owned by us. In connection with the acquisition of the remaining shares of EXINI, in

December 2016,

we paid acquisition cost and interest of

$368

thousand to the minority interest shareholders for the original purchase price and estimated interest, of which

$153

thousand was returned in

May 2017.

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

differ from those estimates.

Foreign Currency Transactions and Translations Policy [Policy Text Block]

Foreign Currency Translation

Each of our international subsidiaries generally considers 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 (“AOCL”) 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

material to our consolidated results of operations for the

three

and

six

months ended

June 30, 2017

2016.

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

$1.2

million and

$0.8

million as of

June 30, 2017

and

December 31, 2016,

respectively. The following table summarizes our property and equipment (in thousands):

	June 30,			December 31,
	2017			2016
Machinery and equipment	$	2,451		$	1,493
Leasehold improvements		1,717			1,640
Computer equipment		698			695
Furniture and fixtures		879			877
Construction in progress		63			893
Property and equipment, gross		5,808			5,598
Less - accumulated depreciation		(1,245	)		(838	)
Property and equipment, net	$	4,563		$	4,760