On November 11, 2019, Mark. R. Baker tendered his resignation as Chief Executive Officer of Progenics Pharmaceuticals, Inc. (the “Company”) and as a member of the Board of Directors (the “Board”) of the Company, effective immediately. Effective immediately following Mr. Baker's resignation, Patrick Fabbio, the Company's Chief Financial Officer will perform the functions of principal executive officer in overseeing the day to day operations of the Company until the Board of the Company, following certification of the written shareholder consents delivered in connection with the consent solicitation by Velan Capital, L.P., makes a determination regarding an interim or permanent Chief Executive Officer of the Company.