Navidea Biopharm Stock Price, News & Analysis

Navidea Biopharmaceuticals has signed an Asset Purchase Agreement with Meilleur Technologies for the acquisition of assets related to NAV4694, a beta-amyloid imaging agent targeting Alzheimer's disease. Meilleur will pay $750,000, comprising a $250,000 upfront payment and $500,000 due within 60 days, with potential future milestone payments based on sales and regulatory achievements. The NAV4694 imaging agent is currently in clinical trials and aims to improve early diagnosis of Alzheimer's. This partnership will enable Navidea to enhance liquidity and focus on growth while Meilleur aims to advance brain health technologies. The ongoing Phase 2b and Phase 3 trials for NAV4694 may provide important developments in Alzheimer's diagnostics.

Navidea Biopharmaceuticals (NYSE American: NAVB) has appointed G2G Ventures as executive consultants to support its aggressive growth strategy. Dr. Michael Rosol has stepped down as Chief Medical Officer after serving since 2018 to pursue other opportunities, but will assist with the transition. G2G Ventures, led by Dr. Jason Myers, aims to enhance Navidea’s business development and investor communications. The company focuses on precision immunodiagnostic agents, utilizing its Manocept platform for targeted treatments, which are critical in the company’s pipeline aimed at improving diagnostic accuracy and patient care.

Navidea Biopharmaceuticals (NYSE American: NAVB) announced its financial results for Q4 and full year 2022. Total revenues for Q4 were approximately $1,000, a decrease from $50,000 in Q4 2021, and $66,000 for the year, down from $532,000 in 2021. R&D expenses increased to $1.9 million in Q4 from $1.4 million and total expenses for the year were $6.0 million. Navidea reported a net loss of $3.5 million or $0.11 per share for Q4 and $17.2 million or $0.56 per share for 2022. The company continues to enroll participants in its NAV3-33 Phase 3 trial for rheumatoid arthritis and has received several patent approvals, enhancing its immunodiagnostic and immunotherapeutic initiatives.

Navidea Biopharmaceuticals (AMEX: NAVB) will host a conference call on March 21, 2023, at 5:00 p.m. EDT to discuss financial results for the fourth quarter and full year ended December 31, 2022.

Dr. Michael Rosol and Erika Eves will provide updates on recent developments and clinical progress. The call is aimed at sharing financial insights and addressing live questions from investors.

Navidea focuses on developing precision immunodiagnostic agents through its Manocept platform, enhancing diagnostic accuracy and treatment targeting.

Navidea Biopharmaceuticals has received a Notice of Allowance from the U.S. Patent and Trademark Office for its patent application regarding compositions that alter macrophage behavior to enhance the immune response against tumors. This patent, titled “Compositions And Methods For Altering Macrophage Phenotype,” will protect critical aspects of Navidea’s cancer immunotherapy pipeline that utilizes mannosylated-amine dextrans (MADs). Positive outcomes from preclinical studies indicate potential synergies with existing cancer therapies, aiming to address significant unmet needs in oncology.

Navidea Biopharmaceuticals (NYSE American: NAVB) has filed an appeal regarding a Texas court judgment related to a case with Capital Royalty Partners II, L.P. The appeal was submitted on November 29, 2022, by Navidea and its subsidiary, Macrophage Therapeutics. This case, identified as Case No. 2018-24442-151, raises significant concerns regarding the potential future outcomes that could impact Navidea's financial condition and strategic operations. Investors are advised to remain aware of the implications of this litigation as it unfolds.

Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB) announced the enrollment of the 50th participant in its pivotal NAV3-33 Phase 3 clinical trial, which aims to evaluate Tc99m tilmanocept imaging for predicting treatment responses in rheumatoid arthritis patients starting anti-TNFα therapy. The trial will involve 198-672 patients, targeting at least 100 responders. Previous Phase 2B data indicated a 90% accuracy in early treatment response prediction at 12 weeks. Success could significantly benefit RA patients and enhance shareholder value.

Navidea Biopharmaceuticals (NAVB) reported its financial results for Q3 and the first nine months of 2022, revealing total revenues of $8,000 for Q3 and $65,000 year-to-date, down from $96,000 and $481,000 in 2021, respectively. The company recorded a net loss of $7.7 million for Q3, compared to $2.4 million in the same 2021 period. Despite these challenges, Navidea is actively enrolling patients in its NAV3-33 Phase 3 clinical trial for rheumatoid arthritis and presented encouraging preliminary results from the NAV3-32 Phase 2B trial.