Adtran (NASDAQ:ADTN): CEO Tom Stanton said, “Our performance this quarter continued to be affected by a challenging spending environment stemming largely from macro-economic and regulatory concerns. The largest impact continues to be in the U.S. carrier market where we saw continuing delays in project rollouts exacerbated by a decrease in legacy product sales. Although timing the resolution to these macro concerns remains challenging, recent bidding activity in Tier 1 and Tier 2 carrier accounts both domestically and abroad leave us very confident about our positioning as these markets rebound.” The company stated that its Q3 results and conference call is to be held on Oct. 10. The shares closed at $17.28, down $1.88 or 9.81% on the day. They have traded in a 52-week range of $18.85 to $38.95.
Progenics Pharmaceuticals (NASDAQ:PGNX) has opened enrollment for a phase 2 study in prostate cancer patients of its PSMA ADC compound. PSMA ADC is a targeted anti-cancer therapeutic using a monoclonal antibody for the delivery of a cell-killing drug to malignant cells. Phase 1 clinical trial data is to be presented at the EORTC-NCI-AACR Symposium on Molecular Targets and Cancer Therapeutics which will take place on November 6-9 in Dublin, Ireland. The shares closed at $2.88, down $0.13 or 4.32% on the day. They have traded in a 52-week range of $2.95 to $11.34.
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