Investment Of $1.47 Million In Cytogen

Fletcher Asset Management has invested $1.47 million in the purchase of 225,000 shares of Cytogen common stock at a price of $6.53 per share. The transaction is part of a deal between the two firms announced a year ago.

Thomas McKearn, chairman, president and chief executive of Cytogen, commented: "while our stock price has been under significant pressure there has been no fundamental change in the company's business to account for this decline. ProstaScint and Quadramet are under active and productive US Food and Drug Administration review, and while we cannot predict FDA outcomes or time frames, we remain confident in the value of both products."