Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Olson William C
 2. Date of Event Requiring Statement (Month/Day/Year)
06/06/2005		 3. Issuer Name and Ticker or Trading Symbol
PROGENICS PHARMACEUTICALS INC [PGNX]
(Last)
(First)
(Middle)
PROGENICS PHARMACEUTICALS, INC., 777 OLD SAW MILL RIVER ROAD		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
VP, Research and Development
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

TARRYTOWN, NY 10591		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 13,761
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Options (right to buy) 01/01/1998(1) 12/31/2006 Common Stock 4,000 $ 4 D  
Non-Qualified Stock Options (right to buy) 04/01/1998(1) 03/31/2007 Common Stock 20,000 $ 4 D  
Non-Qualified Stock Options (right to buy) 04/16/2000(1) 04/15/2009 Common Stock 50,000 $ 13.75 D  
Non-Qualified Stock Options (right to buy) 01/07/2001(1) 01/06/2010 Common Stock 25,000 $ 42.375 D  
Non-Qualified Stock Options (right to buy) 06/28/2001(2) 06/27/2010 Common Stock 25,000 $ 13.625 D  
Non-Qualified Stock Options (right to buy) 01/01/2002(2) 12/31/2010 Common Stock 25,000 $ 17.25 D  
Non-Qualified Stock Options (right to buy) 06/25/2002(2) 06/24/2011 Common Stock 5,000 $ 19.15 D  
Non-Qualified Stock Options (right to buy) 07/01/2003(3) 06/30/2012 Common Stock 25,000 $ 12.29 D  
Non-Qualified Stock Options (right to buy) 07/01/2004(3) 06/30/2013 Common Stock 25,000 $ 15.06 D  
Non-Qualified Stock Options (right to buy) 07/01/2005 10/01/2005 Common Stock 409 (4) $ 16.81 (5) D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Olson William C
PROGENICS PHARMACEUTICALS, INC.
777 OLD SAW MILL RIVER ROAD
TARRYTOWN, NY 10591		       VP, Research and Development  

Signatures

Robert A. McKinney 06/06/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The stock options are currently fully exercisable
(2) The stock options become exercisable in five equal installments, commencing on the date exercisable
(3) The stock options become exercisable in four equal installments, commencing on the date exercisable
(4) The number of shares may vary with the actual salary paid to the optionee between the period April 1 through June 30
(5) The exercise price per share for the options shall be the lesser of this amount or 85% of the fair market value of the Common Stock on the date of exercise

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