content: UNITED STATES
                         SECURITIES AND EXCHANGE COMMISSION
  
                                Washington, DC 20549
  
                           -------------------------------
  
                                      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): May 14, 2003
                                                             ------------
  
  
                                 CYTOGEN CORPORATION
                 -------------------------------------------------
                 (Exact Name of Registrant as Specified in Charter)
  
  
            Delaware                      000-14879                 222322400
  --------------------------------------------------------------------------------
  (State or Other Jurisdiction     (Commission File Number)       (IRS Employer
       of Incorporation)                                       Identification No.)
  
  
  650 College Road East, Suite 3100, Princeton, NJ                      08540
  --------------------------------------------------------------------------------
  (Address of Principal Executive Offices)                           (Zip Code)
  
  
  
                                   (609) 750-8200
                           -------------------------------
                           (Registrant's telephone number,
                                including area code)
  
  
  
             ------------------------------------------------------------
            (Former Name or Former Address, if Changed Since Last Report)
  
  
  <PAGE>
  
  
  Item 7.     Financial Statements, Pro Forma Financial Information and Exhibits.
  
           (a)      Not applicable.
  
           (b)      Not applicable.
  
           (c)      Exhibits.
  
                    Exhibit No.             Description of Exhibit
                    -----------             ----------------------
                       99.1                 Press release dated May 14, 2003.
  
  
  
  Item 9.  Regulation FD Disclosure (Information furnished pursuant to Item 12,
  "Results of Operations and Financial Condition").
  
           On May 14, 2003,  Cytogen  Corporation  (the  "Company")  announced its
  financial  results for the quarter  ended March 31,  2003.  The full text of the
  press release issued in connection with the  announcement is attached as Exhibit
  99.1 to this Current Report on Form 8-K and incorporated herein by reference.
  
           In accordance with the procedural  guidance in SEC Release Nos. 33-8216
  and 34-47583,  the information in this Form 8-K and the Exhibit  attached hereto
  is being furnished  under "Item 9.  Regulation FD Disclosure"  rather than under
  "Item 12. Results of Operations and Financial  Condition." The information shall
  not be deemed "filed" for purposes of Section 18 of the Securities  Exchange Act
  of  1934,  as  amended  (the  "Exchange  Act"),  or  otherwise  subject  to  the
  liabilities of that section, nor shall it be deemed incorporated by reference in
  any filing under the  Securities  Act of 1933, as amended,  or the Exchange Act,
  except as expressly set forth by specific reference in such a filing.
  
  
  <PAGE>
  
  
                                     SIGNATURES
  
  
           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
                                       ----------------------------------------
                                       Michael D. Becker,
                                       President and Chief Executive Officer
  
  
  Date:  May 14, 2003
  
  
  
  
  
  
  
  
  
  
  <PAGE>
                                                                      EXHIBIT 99.1
  
                                                                    [CYTOGEN LOGO]
  
  
  Company contact:
  Cytogen Corporation
  Stacy Shearer
  Investor Relations
  (609) 750-8289
  sshearer@cytogen.com
  --------------------
  
                Cytogen Reports First Quarter 2003 Financial Results
  
     Marketed product portfolio, recent launch of NMP22(R) BladderChek(TM), and
       anticipated introduction of Combidex(R) expected to drive future sales
  
  Princeton, N.J., (May 14, 2003) -- Cytogen Corporation (Nasdaq: CYTO), a
  product-driven, oncology-focused biopharmaceutical company, today reported its
  consolidated financial results for the quarter ended March 31, 2003.
  
  Total revenues were $2.48 million in the first quarter of 2003, representing a
  decrease of 25% from the $3.30 million reported in the first quarter of 2002.
  Net loss for the first quarter of 2003 was $1.95 million or $0.22 per share
  compared to a net loss of $5.00 million or $0.62 per share for the first quarter
  of 2002, representing a decrease of 61%. The net loss in the quarter ended March
  31, 2002 included a non-cash milestone expense of $2.0 million related to the
  progress of ex vivo dendritic cell prostate cancer clinical trials at Northwest
  Biotherapeutics, Inc.
  
  "We made great strides in positioning the Company for future growth by reducing
  operating expenses and redirecting the Company's sales and marketing
  infrastructure, which was largely completed during the first quarter of 2003,"
  said Michael D. Becker, President and Chief Executive Officer of Cytogen
  Corporation. "After exiting the brachytherapy business earlier this year, we
  transitioned our selling, marketing, and training activities to focus on
  ProstaScint(R) and NMP22(R) BladderChek(TM), the newest addition to our marketed
  product portfolio. We were pleased that regulatory approval for expanded use of
  NMP22 BladderChek to screen for bladder cancer in high risk and symptomatic
  individuals coincided with the annual American Urological Association (AUA)
  meeting, where Cytogen officially debuted the product to urologists in April
  2003. In the future, we remain cautiously optimistic for approval of
  Combidex(R), a novel lymph node imaging agent developed by Advanced Magnetics,
  Inc., which we will market pending clearance by the U.S. Food and Drug
  Administration."
  
  Product Sales
  
  Marketed product sales were $1.89 million in the first quarter of 2003 compared
  to $2.58 million in the first quarter of 2002, representing a decline of 27%
  that was driven in part by the previously announced discontinuation of
  brachytherapy products since January 24, 2003, and OncoScint(R) (Satumomab
  pendetide) since December 31, 2002. Total revenues associated with the
  brachytherapy product line and OncoScint were $240,000 for the first quarter of
  2003 compared to $506,000 in the first quarter of 2002. Marketed product sales
  during the first quarter of 2003 included initial sales of NMP22 BladderChek,
  which Cytogen began introducing to urologists in the United States in November
  2002 and is in the early phase of product launch.
  
  <PAGE>
  
  Sales of ProstaScint (Capromab pendetide), Cytogen's first monoclonal
  antibody-based product targeting prostate specific membrane antigen, or PSMA,
  were $1.62 million in the first quarter of 2003 compared to $2.08 million in the
  first quarter of 2002, representing a decline of 22%. Cytogen believes that the
  year-over-year decline in first quarter ProstaScint sales was largely due to
  changes in radiopharmacy wholesaler buying patterns. Year-over-year declines in
  first quarter ProstaScint sales also occurred during 2001 and 2002, while annual
  product sales increased during these periods, although historical performance
  may not be indicative of future results.
  
  Future potential growth for ProstaScint is largely dependent upon, among other
  things, the implementation and continued research of the following:
  
       -    Advances in imaging technology
              -     Fusion imaging - an image processing technique that combines
                    functional information from a ProstaScint scan with anatomic
                    images provided by CT (computed tomography) or MR (magnetic
                    resonance) scans in a digital overlay to provide information
                    that cannot be achieved with separate imaging modalities
                    alone, which may improve diagnostic interpretation; and
              -     Image enhancements - improving the quality of ProstaScint
                    images through reconstruction and attenuation-correction
                    methods to address inherent limitations of single photon
                    emission computed tomography (SPECT) imaging by correcting for
                    the effects of radiation scatter and/or inherent collimator
                    and detector blur.
       -    New product applications
              -     Utilization of ProstaScint scans to guide therapy
                    ("image-guided therapy"), to enhance therapy targeting for
                    treatments such as brachytherapy, cryotherapy and external
                    beam radiation, such as intensity modulated radiation therapy
                    (IMRT); and
              -     Utilization of ProstaScint scans to guide biopsy
                    ("image-guided biopsy"), which could be facilitated by future
                    advances in image acquisition technology.
  
  Royalty revenue from the sale of Quadramet(R) (Samarium Sm-153 lexidronam
  injection) in the first quarter of 2003 was $449,000, representing a decrease of
  10% from the $499,000 reported in the first quarter of 2002. Quadramet is a
  skeletal targeting therapeutic radiopharmaceutical developed by Cytogen
  Corporation based on technology licensed from Dow Chemical and marketed by
  Berlex Laboratories, the U.S. affiliate of Schering AG Germany, in the United
  States for the relief of pain in patients with confirmed osteoblastic metastatic
  bone lesions that enhance on a radionuclide bone scan. Cytogen believes that
  future growth and market penetration of Quadramet is largely dependent upon,
  among other things:
  
       -    New clinical data supporting the expanded and earlier use of Quadramet
            in various cancers;
       -    Novel research supporting combination uses with other therapies,  such
            as chemotherapy and bisphophonates;
       -    Establishing  the use of Quadramet at higher doses to target and treat
            primary bone cancers;  and
       -    Increased marketing and sales penetration to physicians.
  <PAGE>
  
  Brachytherapy product sales in the first quarter of 2003 were $240,000 compared
  to $452,000 in the first quarter of 2002. Effective January 24, 2003, Cytogen
  discontinued selling and marketing brachytherapy products.
  
  Initial sales of NMP22 BladderChek (Nuclear matrix protein-22), a point-of-care,
  in vitro diagnostic test for bladder cancer, were $25,000 in the first quarter
  of 2003 compared to $14,000 in the fourth quarter of 2002. In October 2002,
  Cytogen entered into a five-year agreement with Matritech, Inc. to be the sole
  distributor of Matritech's NMP22 BladderChek device to urologists and
  oncologists in the United States. During November 2002, Cytogen began promoting
  NMP22 BladderChek to urologists in the United States using its in-house
  specialty sales force.
  
  Developed by Matritech, Inc., NMP22 BladderChek is one of only two immunoassay
  fluid tests approved by the FDA for screening patients for cancer; the other is
  the prostate specific antigen (PSA) test for prostate cancer. NMP22 BladderChek
  returns results in thirty minutes and provides urologists with a complement to
  cystoscopy, a clinical procedure for the visual identification of tumors in the
  bladder. By placing four drops of urine on the NMP22 BladderChek test cassette,
  a physician is able to detect the presence of elevated NMP22, a nuclear matrix
  protein correlated with bladder cancer. A colored line appears to indicate
  bladder cancer.
  
  The NMP22 BladderChek test is currently approved for use in two clinical
  settings:
  
       -    Monitoring - In July 2002,  Matritech,  Inc.  received FDA approval to
            market the NMP22 BladderChek test for monitoring  patients  previously
            diagnosed with bladder cancer; and
  
       -    Screening - In April 2003,  Matritech  received FDA approval to market
            the NMP22  BladderChek  test to help  diagnose  patients  with bladder
            cancer.
  
  "With Cytogen's proprietary and licensed products, such as ProstaScint,
  Quadramet and NMP22 BladderChek; as well as late-stage opportunities, such as
  Combidex; and our evolving development pipeline based on prostate specific
  membrane antigen (PSMA), Cytogen has achieved a position that relatively few in
  our industry ever attain - an established, product-driven biopharmaceutical
  company with its own sales and marketing infrastructure. We believe that our
  marketed product portfolio, the promise of Combidex, and our development
  pipeline, collectively represent a tremendous opportunity for future growth,"
  Mr. Becker concluded.
  
  Costs and Expenses
  
  Operating expenses in the first quarter of 2003 were $5.00 million compared to
  $8.33 million in the first quarter of 2002, representing a decline of 40%.
  Operating expenses in first quarter of 2002 included a $2.0 million non-cash
  milestone payment related to the progress of the ex vivo dendritic cell prostate
  cancer therapy. Operating expenses include costs associated with the PSMA
  Development Company LLC, a joint venture between Cytogen Corporation and
  Progenics Pharmaceuticals, Inc. for the development of in vivo immunotherapies
  utilizing prostate specific membrane antigen, or PSMA. Cytogen's share of
  development costs associated with the PSMA Development Company LLC were $880,000
  for the first quarter of 2003 compared to $513,000 in the first quarter of 2002.
  Operating expenses also include research in cellular signaling through our
  AxCell Biosciences subsidiary, which were $450,000 in the first quarter of 2003
  compared to $1.27 million for the first quarter of 2002.
  <PAGE>
  
  Cytogen's cash and cash equivalents as of March 31, 2003 were $11.13 million
  compared to $14.73 million as of December 31, 2002.
  
  Additional information
  
  On May 12, 2003, Milton D. Goldenberg and Immunomedics, Inc., plaintiffs in a
  previously announced lawsuit filed against the Company in the U.S. District
  Court for the District of New Jersey, filed a notice of appeal to the U.S. Court
  of Appeals for the Federal Circuit from the District Court's April 30, 2003
  ruling denying plaintiffs' motion for summary judgment of infringement, granting
  the Company's motion for summary judgment of non-infringement and dismissing the
  complaint. The litigation claims that our Prostascint product infringes a patent
  purportedly owned by Goldenberg and licensed to Immunomedics. We believe that
  ProstaScint does not infringe this patent, and that the patent is invalid and
  unenforceable. The patent sought to be enforced in the litigation has now
  expired; as a result, the claim even if successful would not result in an
  injunction barring the continued sale of ProstaScint or affect any other of our
  products or technology. In addition, we have certain rights to indemnification
  against litigation and litigation expenses from the inventor of technology used
  in ProstaScint, which may be offset against royalty payments on sales of
  ProstaScint. However, given the uncertainty associated with litigation, we
  cannot give any assurance that the litigation could not result in a material
  expenditure to us.
  
  About Cytogen Corporation
  
  Cytogen  Corporation  of  Princeton,  NJ is a  product-driven,  oncology-focused
  biopharmaceutical  company.  Cytogen markets  proprietary and licensed  oncology
  products  through  its  in-house   specialty  sales  force:   ProstaScint(R)  (a
  monoclonal  antibody-based  imaging agent used to image the extent and spread of
  prostate  cancer)  and  NMP22(R)  BladderChek(TM)  (a  point-of-care,  in  vitro
  diagnostic test for bladder cancer). Cytogen has also developed Quadramet(R),  a
  skeletal targeting therapeutic  radiopharmaceutical  for the relief of bone pain
  in prostate and other types of cancer,  for which the company receives royalties
  on product sales through Berlex Laboratories,  the U.S. affiliate of Schering AG
  Germany,  which markets the product in the United States.  Cytogen has exclusive
  U.S. marketing rights to Combidex(R), an ultrasmall superparamagnetic iron oxide
  (USPIO)  contrast  agent for magnetic  resonance  imaging of lymph nodes that is
  pending clearance by the U.S. Food and Drug  Administration.  Cytogen's pipeline
  comprises  product  candidates  at  various  stages  of  clinical   development,
  including  fully human  monoclonal  antibodies and cancer vaccines based on PSMA
  (prostate specific membrane antigen) technology,  which was exclusively licensed
  from Memorial  Sloan-Kettering  Cancer Center. Cytogen also conducts research in
  cellular signaling through its AxCell Biosciences  research division in Newtown,
  PA. For more information, please visit the Company's website at www.cytogen.com,
  which is not part of this press release.
  
  This press release  contains  certain  "forward-looking"  statements  within the
  meaning of the Private Securities  Litigation Reform Act of 1995 and Section 21E
  of the Securities Exchange Act of 1934, as amended.  All statements,  other than
  statements of  historical  facts,  included in this press release  regarding our
  strategy,  future operations,  financial  position,  future revenues,  projected
  <PAGE>
  
  costs,  prospects,  plans  and  objectives  of  management  are  forward-looking
  statements.   The  words  "anticipates,"   "believes,"  "estimates,"  "expects,"
  "intends," "may," "plans,"  "projects,"  "will," "would" and similar expressions
  are  intended  to  identify   forward-looking   statements,   although  not  all
  forward-looking  statements  contain  these  identifying  words.  Such  forward-
  looking statements involve a number of risks and uncertainties and investors are
  cautioned not to put any undue reliance on any  forward-looking  statement.  The
  Company  cannot  guarantee  that the Company  will  actually  achieve the plans,
  intentions or expectations disclosed in any such forward-looking statements. The
  Company's  actual results may differ  materially  from the Company's  historical
  results of operations and those discussed in the forward-looking  statements for
  various reasons,  including,  but not limited to, the Company's ability to carry
  out its business and financial plans, to determine and implement the appropriate
  strategic initiative for its AxCell Biosciences subsidiary,  to fund development
  necessary  for existing  products and to pursue new product  opportunities,  the
  risk of whether products result from development  activities,  protection of its
  intellectual property portfolio,  ability to integrate in-licensed products such
  as NMP22(R)  BladderChek(TM),  ability to establish  and  successfully  complete
  clinical  trials where required for product  approval,  the risk associated with
  obtaining  the  necessary  regulatory   approvals,   shifts  in  the  regulatory
  environment  affecting sales of the Company's products such as third-party payor
  reimbursement  issues,  dependence on the Company's  partners for development of
  certain  projects,  the  ability  to obtain  foreign  regulatory  approvals  for
  products and to establish marketing  arrangements in countries where approval is
  obtained,  and other factors  discussed in the Company's  Form 10-K for the year
  ended  December 31, 2002,  as amended,  and from  time-to-time  in the Company's
  other filings with the Securities and Exchange  Commission.  Any forward-looking
  statements made by the Company do not reflect the potential impact of any future
  acquisitions,  mergers, dispositions,  joint ventures or investments the Company
  may  make.  The  Company  does  not  assume,  and  specifically  disclaims,  any
  obligation  to update  any  forward-looking  statements,  and  these  statements
  represent the Company's current outlook only as of the date given.
  
                                         ###
  
  
  <PAGE>
  
  
                               CYTOGEN CORPORATION & SUBSIDIARIES
                        (All amounts in thousands except per share data)
                                           (Unaudited)
  
  CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
  <TABLE>
  <CAPTION>
  
                                                                      THREE MONTHS ENDED
                                                                            MARCH 31,
                                                                   -----------------------
                                                                     2003           2002
                                                                   --------       --------
  <S>                                                              <C>             <C>
  Revenues:
     Marketed Product Sales                                        $ 1,885         $ 2,582
     Royalty Revenue                                                   449             499
     License and Contract                                              143             215
                                                                   -------         -------
             Total Revenues                                          2,477           3,296
                                                                   -------         -------
  
  Operating Expenses:
     Cost of Product Related Revenues                                  910           1,054
     Ongoing Research and Development                                  833           1,799
     Equity Loss in PSMA LLC                                           880             513
     Selling and Marketing                                           1,302           1,453
     General and Administrative                                      1,076           1,510
     Milestone Payment Related to Research and Development*              -           2,000
                                                                   -------         -------
             Total Operating Expenses                                5,001           8,329
                                                                   -------         -------
  
  Non-Operating Income (Expense), net                                  (11)             35
  Income Tax Benefit                                                  (584)              -
                                                                   -------         -------
  Net Loss                                                         $(1,951)        $(4,998)
                                                                   =======         =======
  
  Basic and Diluted Net Loss Per Share                             $ (0.22)        $ (0.62)
                                                                   =======         =======
  
  Weighted Average Common Share Outstanding                          8,763           8,122
                                                                   =======         =======
  
  </TABLE>
   *  In 2002, the Company recorded a non-cash milestone payment related to the
      progress of the cancer clinical trials.
  
   CONDENSED CONSOLIDATED BALANCE SHEETS
  <TABLE>
  <CAPTION>
  
                                                                  MARCH 31,     DECEMBER 31,
                                                                     2003           2002
                                                                  ---------     ------------
   <S>                                                             <C>             <C>
   Assets
      Cash and Cash Equivalents                                    $11,131         $14,725
      Accounts Receivable, net                                       1,419           1,778
      Inventories                                                    1,838           1,262
      Property and Equipment, net                                      917           1,072
      Other Assets                                                   2,151           1,057
                                                                   -------         -------
             Total Assets                                          $17,456         $19,894
                                                                   =======         =======
  
  Liabilities & Stockholders' Equity
      Accounts Payable & Accrued Liabilities                       $ 4,017         $ 4,427
      Other Current Liabilities                                         75              80
      Long-Term Liabilities & Deferred Revenues                      4,703           4,799
      Stockholders' Equity                                           8,661          10,588
                                                                   -------         -------
             Total Liabilities & Stockholders' Equity              $17,456         $19,894
                                                                   =======         =======
  
  </TABLE>
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text: UNITED STATES
                         SECURITIES AND EXCHANGE COMMISSION
  
                                Washington, DC 20549
  
                           -------------------------------
  
                                      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): May 14, 2003
                                                             ------------
  
                                 CYTOGEN CORPORATION
                 -------------------------------------------------
                 (Exact Name of Registrant as Specified in Charter)
  
            Delaware                      000-14879                 222322400
  --------------------------------------------------------------------------------
  (State or Other Jurisdiction     (Commission File Number)       (IRS Employer
       of Incorporation)                                       Identification No.)
  
  650 College Road East, Suite 3100, Princeton, NJ                      08540
  --------------------------------------------------------------------------------
  (Address of Principal Executive Offices)                           (Zip Code)
  
                                   (609) 750-8200
                           -------------------------------
                           (Registrant's telephone number,
                                including area code)
  
             ------------------------------------------------------------
            (Former Name or Former Address, if Changed Since Last Report)
  Item 7.     Financial Statements, Pro Forma Financial Information and Exhibits.
  
           (a)      Not applicable.
  
           (b)      Not applicable.
  
           (c)      Exhibits.
  
                    Exhibit No.             Description of Exhibit
                    -----------             ----------------------
                       99.1                 Press release dated May 14, 2003.
  
  Item 9.  Regulation FD Disclosure (Information furnished pursuant to Item 12,
  "Results of Operations and Financial Condition").
  
           On May 14, 2003,  Cytogen  Corporation  (the  "Company")  announced its
  financial  results for the quarter  ended March 31,  2003.  The full text of the
  press release issued in connection with the  announcement is attached as Exhibit
  99.1 to this Current Report on Form 8-K and incorporated herein by reference.
  
           In accordance with the procedural  guidance in SEC Release Nos. 33-8216
  and 34-47583,  the information in this Form 8-K and the Exhibit  attached hereto
  is being furnished  under "Item 9.  Regulation FD Disclosure"  rather than under
  "Item 12. Results of Operations and Financial  Condition." The information shall
  not be deemed "filed" for purposes of Section 18 of the Securities  Exchange Act
  of  1934,  as  amended  (the  "Exchange  Act"),  or  otherwise  subject  to  the
  liabilities of that section, nor shall it be deemed incorporated by reference in
  any filing under the  Securities  Act of 1933, as amended,  or the Exchange Act,
  except as expressly set forth by specific reference in such a filing.
  SIGNATURES
  
           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
                                       ----------------------------------------
                                       Michael D. Becker,
                                       President and Chief Executive Officer
  
  Date:  May 14, 2003
  EXHIBIT 99.1
  
                                                                    [CYTOGEN LOGO]
  
  Company contact:
  Cytogen Corporation
  Stacy Shearer
  Investor Relations
  (609) 750-8289
  sshearer@cytogen.com
  --------------------
  
                Cytogen Reports First Quarter 2003 Financial Results
  
     Marketed product portfolio, recent launch of NMP22(R) BladderChek(TM), and
       anticipated introduction of Combidex(R) expected to drive future sales
  
  Princeton, N.J., (May 14, 2003) -- Cytogen Corporation (Nasdaq: CYTO), a
  product-driven, oncology-focused biopharmaceutical company, today reported its
  consolidated financial results for the quarter ended March 31, 2003.
  
  Total revenues were $2.48 million in the first quarter of 2003, representing a
  decrease of 25% from the $3.30 million reported in the first quarter of 2002.
  Net loss for the first quarter of 2003 was $1.95 million or $0.22 per share
  compared to a net loss of $5.00 million or $0.62 per share for the first quarter
  of 2002, representing a decrease of 61%. The net loss in the quarter ended March
  31, 2002 included a non-cash milestone expense of $2.0 million related to the
  progress of ex vivo dendritic cell prostate cancer clinical trials at Northwest
  Biotherapeutics, Inc.
  
  "We made great strides in positioning the Company for future growth by reducing
  operating expenses and redirecting the Company's sales and marketing
  infrastructure, which was largely completed during the first quarter of 2003,"
  said Michael D. Becker, President and Chief Executive Officer of Cytogen
  Corporation. "After exiting the brachytherapy business earlier this year, we
  transitioned our selling, marketing, and training activities to focus on
  ProstaScint(R) and NMP22(R) BladderChek(TM), the newest addition to our marketed
  product portfolio. We were pleased that regulatory approval for expanded use of
  NMP22 BladderChek to screen for bladder cancer in high risk and symptomatic
  individuals coincided with the annual American Urological Association (AUA)
  meeting, where Cytogen officially debuted the product to urologists in April
  2003. In the future, we remain cautiously optimistic for approval of
  Combidex(R), a novel lymph node imaging agent developed by Advanced Magnetics,
  Inc., which we will market pending clearance by the U.S. Food and Drug
  Administration."
  
  Product Sales
  
  Marketed product sales were $1.89 million in the first quarter of 2003 compared
  to $2.58 million in the first quarter of 2002, representing a decline of 27%
  that was driven in part by the previously announced discontinuation of
  brachytherapy products since January 24, 2003, and OncoScint(R) (Satumomab
  pendetide) since December 31, 2002. Total revenues associated with the
  brachytherapy product line and OncoScint were $240,000 for the first quarter of
  2003 compared to $506,000 in the first quarter of 2002. Marketed product sales
  during the first quarter of 2003 included initial sales of NMP22 BladderChek,
  which Cytogen began introducing to urologists in the United States in November
  2002 and is in the early phase of product launch.
  Sales of ProstaScint (Capromab pendetide), Cytogen's first monoclonal
  antibody-based product targeting prostate specific membrane antigen, or PSMA,
  were $1.62 million in the first quarter of 2003 compared to $2.08 million in the
  first quarter of 2002, representing a decline of 22%. Cytogen believes that the
  year-over-year decline in first quarter ProstaScint sales was largely due to
  changes in radiopharmacy wholesaler buying patterns. Year-over-year declines in
  first quarter ProstaScint sales also occurred during 2001 and 2002, while annual
  product sales increased during these periods, although historical performance
  may not be indicative of future results.
  
  Future potential growth for ProstaScint is largely dependent upon, among other
  things, the implementation and continued research of the following:
  
       -    Advances in imaging technology
              -     Fusion imaging - an image processing technique that combines
                    functional information from a ProstaScint scan with anatomic
                    images provided by CT (computed tomography) or MR (magnetic
                    resonance) scans in a digital overlay to provide information
                    that cannot be achieved with separate imaging modalities
                    alone, which may improve diagnostic interpretation; and
              -     Image enhancements - improving the quality of ProstaScint
                    images through reconstruction and attenuation-correction
                    methods to address inherent limitations of single photon
                    emission computed tomography (SPECT) imaging by correcting for
                    the effects of radiation scatter and/or inherent collimator
                    and detector blur.
       -    New product applications
              -     Utilization of ProstaScint scans to guide therapy
                    ("image-guided therapy"), to enhance therapy targeting for
                    treatments such as brachytherapy, cryotherapy and external
                    beam radiation, such as intensity modulated radiation therapy
                    (IMRT); and
              -     Utilization of ProstaScint scans to guide biopsy
                    ("image-guided biopsy"), which could be facilitated by future
                    advances in image acquisition technology.
  
  Royalty revenue from the sale of Quadramet(R) (Samarium Sm-153 lexidronam
  injection) in the first quarter of 2003 was $449,000, representing a decrease of
  10% from the $499,000 reported in the first quarter of 2002. Quadramet is a
  skeletal targeting therapeutic radiopharmaceutical developed by Cytogen
  Corporation based on technology licensed from Dow Chemical and marketed by
  Berlex Laboratories, the U.S. affiliate of Schering AG Germany, in the United
  States for the relief of pain in patients with confirmed osteoblastic metastatic
  bone lesions that enhance on a radionuclide bone scan. Cytogen believes that
  future growth and market penetration of Quadramet is largely dependent upon,
  among other things:
  
       -    New clinical data supporting the expanded and earlier use of Quadramet
            in various cancers;
       -    Novel research supporting combination uses with other therapies,  such
            as chemotherapy and bisphophonates;
       -    Establishing  the use of Quadramet at higher doses to target and treat
            primary bone cancers;  and
       -    Increased marketing and sales penetration to physicians.
  Brachytherapy product sales in the first quarter of 2003 were $240,000 compared
  to $452,000 in the first quarter of 2002. Effective January 24, 2003, Cytogen
  discontinued selling and marketing brachytherapy products.
  
  Initial sales of NMP22 BladderChek (Nuclear matrix protein-22), a point-of-care,
  in vitro diagnostic test for bladder cancer, were $25,000 in the first quarter
  of 2003 compared to $14,000 in the fourth quarter of 2002. In October 2002,
  Cytogen entered into a five-year agreement with Matritech, Inc. to be the sole
  distributor of Matritech's NMP22 BladderChek device to urologists and
  oncologists in the United States. During November 2002, Cytogen began promoting
  NMP22 BladderChek to urologists in the United States using its in-house
  specialty sales force.
  
  Developed by Matritech, Inc., NMP22 BladderChek is one of only two immunoassay
  fluid tests approved by the FDA for screening patients for cancer; the other is
  the prostate specific antigen (PSA) test for prostate cancer. NMP22 BladderChek
  returns results in thirty minutes and provides urologists with a complement to
  cystoscopy, a clinical procedure for the visual identification of tumors in the
  bladder. By placing four drops of urine on the NMP22 BladderChek test cassette,
  a physician is able to detect the presence of elevated NMP22, a nuclear matrix
  protein correlated with bladder cancer. A colored line appears to indicate
  bladder cancer.
  
  The NMP22 BladderChek test is currently approved for use in two clinical
  settings:
  
       -    Monitoring - In July 2002,  Matritech,  Inc.  received FDA approval to
            market the NMP22 BladderChek test for monitoring  patients  previously
            diagnosed with bladder cancer; and
  
       -    Screening - In April 2003,  Matritech  received FDA approval to market
            the NMP22  BladderChek  test to help  diagnose  patients  with bladder
            cancer.
  
  "With Cytogen's proprietary and licensed products, such as ProstaScint,
  Quadramet and NMP22 BladderChek; as well as late-stage opportunities, such as
  Combidex; and our evolving development pipeline based on prostate specific
  membrane antigen (PSMA), Cytogen has achieved a position that relatively few in
  our industry ever attain - an established, product-driven biopharmaceutical
  company with its own sales and marketing infrastructure. We believe that our
  marketed product portfolio, the promise of Combidex, and our development
  pipeline, collectively represent a tremendous opportunity for future growth,"
  Mr. Becker concluded.
  
  Costs and Expenses
  
  Operating expenses in the first quarter of 2003 were $5.00 million compared to
  $8.33 million in the first quarter of 2002, representing a decline of 40%.
  Operating expenses in first quarter of 2002 included a $2.0 million non-cash
  milestone payment related to the progress of the ex vivo dendritic cell prostate
  cancer therapy. Operating expenses include costs associated with the PSMA
  Development Company LLC, a joint venture between Cytogen Corporation and
  Progenics Pharmaceuticals, Inc. for the development of in vivo immunotherapies
  utilizing prostate specific membrane antigen, or PSMA. Cytogen's share of
  development costs associated with the PSMA Development Company LLC were $880,000
  for the first quarter of 2003 compared to $513,000 in the first quarter of 2002.
  Operating expenses also include research in cellular signaling through our
  AxCell Biosciences subsidiary, which were $450,000 in the first quarter of 2003
  compared to $1.27 million for the first quarter of 2002.
  Cytogen's cash and cash equivalents as of March 31, 2003 were $11.13 million
  compared to $14.73 million as of December 31, 2002.
  
  Additional information
  
  On May 12, 2003, Milton D. Goldenberg and Immunomedics, Inc., plaintiffs in a
  previously announced lawsuit filed against the Company in the U.S. District
  Court for the District of New Jersey, filed a notice of appeal to the U.S. Court
  of Appeals for the Federal Circuit from the District Court's April 30, 2003
  ruling denying plaintiffs' motion for summary judgment of infringement, granting
  the Company's motion for summary judgment of non-infringement and dismissing the
  complaint. The litigation claims that our Prostascint product infringes a patent
  purportedly owned by Goldenberg and licensed to Immunomedics. We believe that
  ProstaScint does not infringe this patent, and that the patent is invalid and
  unenforceable. The patent sought to be enforced in the litigation has now
  expired; as a result, the claim even if successful would not result in an
  injunction barring the continued sale of ProstaScint or affect any other of our
  products or technology. In addition, we have certain rights to indemnification
  against litigation and litigation expenses from the inventor of technology used
  in ProstaScint, which may be offset against royalty payments on sales of
  ProstaScint. However, given the uncertainty associated with litigation, we
  cannot give any assurance that the litigation could not result in a material
  expenditure to us.
  
  About Cytogen Corporation
  
  Cytogen  Corporation  of  Princeton,  NJ is a  product-driven,  oncology-focused
  biopharmaceutical  company.  Cytogen markets  proprietary and licensed  oncology
  products  through  its  in-house   specialty  sales  force:   ProstaScint(R)  (a
  monoclonal  antibody-based  imaging agent used to image the extent and spread of
  prostate  cancer)  and  NMP22(R)  BladderChek(TM)  (a  point-of-care,  in  vitro
  diagnostic test for bladder cancer). Cytogen has also developed Quadramet(R),  a
  skeletal targeting therapeutic  radiopharmaceutical  for the relief of bone pain
  in prostate and other types of cancer,  for which the company receives royalties
  on product sales through Berlex Laboratories,  the U.S. affiliate of Schering AG
  Germany,  which markets the product in the United States.  Cytogen has exclusive
  U.S. marketing rights to Combidex(R), an ultrasmall superparamagnetic iron oxide
  (USPIO)  contrast  agent for magnetic  resonance  imaging of lymph nodes that is
  pending clearance by the U.S. Food and Drug  Administration.  Cytogen's pipeline
  comprises  product  candidates  at  various  stages  of  clinical   development,
  including  fully human  monoclonal  antibodies and cancer vaccines based on PSMA
  (prostate specific membrane antigen) technology,  which was exclusively licensed
  from Memorial  Sloan-Kettering  Cancer Center. Cytogen also conducts research in
  cellular signaling through its AxCell Biosciences  research division in Newtown,
  PA. For more information, please visit the Company's website at www.cytogen.com,
  which is not part of this press release.
  
  This press release  contains  certain  "forward-looking"  statements  within the
  meaning of the Private Securities  Litigation Reform Act of 1995 and Section 21E
  of the Securities Exchange Act of 1934, as amended.  All statements,  other than
  statements of  historical  facts,  included in this press release  regarding our
  strategy,  future operations,  financial  position,  future revenues,  projected
  costs,  prospects,  plans  and  objectives  of  management  are  forward-looking
  statements.   The  words  "anticipates,"   "believes,"  "estimates,"  "expects,"
  "intends," "may," "plans,"  "projects,"  "will," "would" and similar expressions
  are  intended  to  identify   forward-looking   statements,   although  not  all
  forward-looking  statements  contain  these  identifying  words.  Such  forward-
  looking statements involve a number of risks and uncertainties and investors are
  cautioned not to put any undue reliance on any  forward-looking  statement.  The
  Company  cannot  guarantee  that the Company  will  actually  achieve the plans,
  intentions or expectations disclosed in any such forward-looking statements. The
  Company's  actual results may differ  materially  from the Company's  historical
  results of operations and those discussed in the forward-looking  statements for
  various reasons,  including,  but not limited to, the Company's ability to carry
  out its business and financial plans, to determine and implement the appropriate
  strategic initiative for its AxCell Biosciences subsidiary,  to fund development
  necessary  for existing  products and to pursue new product  opportunities,  the
  risk of whether products result from development  activities,  protection of its
  intellectual property portfolio,  ability to integrate in-licensed products such
  as NMP22(R)  BladderChek(TM),  ability to establish  and  successfully  complete
  clinical  trials where required for product  approval,  the risk associated with
  obtaining  the  necessary  regulatory   approvals,   shifts  in  the  regulatory
  environment  affecting sales of the Company's products such as third-party payor
  reimbursement  issues,  dependence on the Company's  partners for development of
  certain  projects,  the  ability  to obtain  foreign  regulatory  approvals  for
  products and to establish marketing  arrangements in countries where approval is
  obtained,  and other factors  discussed in the Company's  Form 10-K for the year
  ended  December 31, 2002,  as amended,  and from  time-to-time  in the Company's
  other filings with the Securities and Exchange  Commission.  Any forward-looking
  statements made by the Company do not reflect the potential impact of any future
  acquisitions,  mergers, dispositions,  joint ventures or investments the Company
  may  make.  The  Company  does  not  assume,  and  specifically  disclaims,  any
  obligation  to update  any  forward-looking  statements,  and  these  statements
  represent the Company's current outlook only as of the date given.
  
                                         ###
  CYTOGEN CORPORATION & SUBSIDIARIES
                        (All amounts in thousands except per share data)
                                           (Unaudited)
  
  CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
  THREE MONTHS ENDED
                                                                            MARCH 31,
                                                                   -----------------------
                                                                     2003           2002
                                                                   --------       --------
  Revenues:
     Marketed Product Sales                                        $ 1,885         $ 2,582
     Royalty Revenue                                                   449             499
     License and Contract                                              143             215
                                                                   -------         -------
             Total Revenues                                          2,477           3,296
                                                                   -------         -------
  
  Operating Expenses:
     Cost of Product Related Revenues                                  910           1,054
     Ongoing Research and Development                                  833           1,799
     Equity Loss in PSMA LLC                                           880             513
     Selling and Marketing                                           1,302           1,453
     General and Administrative                                      1,076           1,510
     Milestone Payment Related to Research and Development*              -           2,000
                                                                   -------         -------
             Total Operating Expenses                                5,001           8,329
                                                                   -------         -------
  
  Non-Operating Income (Expense), net                                  (11)             35
  Income Tax Benefit                                                  (584)              -
                                                                   -------         -------
  Net Loss                                                         $(1,951)        $(4,998)
                                                                   =======         =======
  
  Basic and Diluted Net Loss Per Share                             $ (0.22)        $ (0.62)
                                                                   =======         =======
  
  Weighted Average Common Share Outstanding                          8,763           8,122
                                                                   =======         =======
  *  In 2002, the Company recorded a non-cash milestone payment related to the
      progress of the cancer clinical trials.
  
   CONDENSED CONSOLIDATED BALANCE SHEETS
  MARCH 31,     DECEMBER 31,
                                                                     2003           2002
                                                                  ---------     ------------
  Assets
      Cash and Cash Equivalents                                    $11,131         $14,725
      Accounts Receivable, net                                       1,419           1,778
      Inventories                                                    1,838           1,262
      Property and Equipment, net                                      917           1,072
      Other Assets                                                   2,151           1,057
                                                                   -------         -------
             Total Assets                                          $17,456         $19,894
                                                                   =======         =======
  
  Liabilities & Stockholders' Equity
      Accounts Payable & Accrued Liabilities                       $ 4,017         $ 4,427
      Other Current Liabilities                                         75              80
      Long-Term Liabilities & Deferred Revenues                      4,703           4,799
      Stockholders' Equity                                           8,661          10,588
                                                                   -------         -------
             Total Liabilities & Stockholders' Equity              $17,456         $19,894
                                                                   =======         =======