SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): January 17, 2003
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CYTOGEN CORPORATION
(Exact Name of Registrant as Specified in Charter)
Delaware 000-14879 222322400
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(State or Other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification No.)
650 College Road East, 3rd Floor, Princeton, NJ 08540
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(Address of Principal Executive Offices) (Zip Code)
(609) 750-8200
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(Registrant's telephone number,
including area code)
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(Former Name or Former Address, if Changed Since Last Report)
Item 5. Other Events and Required FD Disclosure.
Product Update
On January 17, 2003, Cytogen Corporation (the "Company") and DRAXIMAGE Inc.
("DRAXIMAGE"), the radiopharmaceutical subsidiary of DRAXIS Health Inc., jointly
issued a press release reporting that the production and sales of the Palladium
version of BrachySeed(TM) have been halted for an unspecified period of time.
Production and sales of the Iodine-125 version of BrachySeed are continuing
unchanged.
BrachySeed Pd-103 was launched commercially by Cytogen in May 2002 and is still
in its early launch phase. Cytogen and DRAXIMAGE are discussing ways to resolve
issues surrounding Palladium BrachySeed production and sales.
In December 2000, Cytogen entered into a 10-year agreement with DRAXIMAGE to
market and distribute BrachySeed Iodine and Palladium implants in the United
States for the treatment of prostate cancer in exchange for a transfer price on
seeds sold plus royalties on sales and certain milestone payments. Both
companies' decision to enter the brachytherapy field together was predicated on
the successful launch of both the Iodine and Palladium brachytherapy products.
Such press release is attached hereto as Exhibit 99.1 and is incorporated herein
by reference. The foregoing description of such press release is qualified in
its entirety by reference to such document.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(c) Exhibits.
Exhibit No. Description
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99.1 Press release of the Company dated January 17, 2003
SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Cytogen Corporation
By: /s/ Michael D. Becker
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Michael D. Becker
President and Chief Executive Officer
Date: January 17, 2003