Navidea Biopharm Stock Price, News & Analysis

Navidea Biopharmaceuticals (NAVB) reported Q2 2022 financial results with net revenues of $57,000, down from $261,000 in Q2 2021. The net loss attributable to common stockholders widened to $3.0 million, or $0.10 per share, compared to a loss of $2.7 million, or $0.09 per share, in the same quarter last year. Ongoing Phase 3 trial enrollment for rheumatoid arthritis continues, alongside positive preliminary results from the NAV3-32 Phase 2b trial. The company closed a $2.5 million bridge loan and received $800,000 from a strategic partner for R&D expenses.

Navidea Biopharmaceuticals (NYSE American: NAVB) has announced the commencement of its rights offering subscription period. Rights holders must act quickly, as the deadline to exercise these rights is August 17, 2022, by 5:00 PM Eastern Time. Each subscription right allows the purchase of a unit for $1,000, including one share of Series I Convertible Preferred Stock and a warrant for 1,538 shares of common stock at an exercise price of $0.70. Maxim Group LLC will manage the offering, with further financial results expected on August 15, 2022.

Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB) announced the publication of a study showcasing Tc99m tilmanocept as an effective tracer for lymphatic mapping in melanoma and oral cancer. Conducted at the Crown Princess Mary Cancer Centre, the study involved 35 patients and reported a 100% sensitivity and intraoperative retrieval rate for sentinel lymph nodes. The findings support Tc99m tilmanocept's reliability as a radiotracer, enhancing the precision of cancer staging. The study's success highlights the potential for further expansion of Lymphoseek beyond North America.

Navidea Biopharmaceuticals (NYSE American: NAVB) announced the publication of a manuscript regarding its Tc99m tilmanocept imaging study. Conducted at Massachusetts General Hospital and Harvard Medical School, the research highlights increased macrophage-specific arterial inflammation in HIV patients on anti-retroviral therapy compared to matched controls. Results showed significant arterial inflammation in HIV patients, linking it to non-calcified plaque and specific immune activation pathways. This study suggests potential applications of Tc99m tilmanocept in monitoring cardiovascular risks in HIV treatment.

Navidea Biopharmaceuticals (NYSE American: NAVB) announced its upcoming rights offering, allowing stockholders of record as of August 3, 2022 to participate. Each stockholder will receive a non-transferable subscription right to purchase one unit at a price of $1,000, consisting of newly created Series I Convertible Preferred Stock and warrants for common shares at an exercise price of $0.80. The subscription period runs from August 4 to August 17, 2022. Maxim Group LLC is the dealer-manager for this offering.

Navidea Biopharmaceuticals (NYSE American: NAVB) announced on July 1, 2022, that its largest shareholder, John K. Scott, Jr., provided an additional $1.0 million funding via a secured bridge loan executed on April 10, 2022. Dr. Michael Rosol, Chief Medical Officer, expressed enthusiasm for the continued funding to support Phase 3 and R&D efforts. Navidea focuses on precision immunodiagnostic agents and immunotherapeutics, utilizing its Manocept™ platform to improve diagnostic accuracy and treatment targeting.

Navidea Biopharmaceuticals (NYSE American: NAVB) announced the acceptance of its abstract for presentation at the SNMMI Annual Meeting in Vancouver, Canada, from June 11-14. The abstract focuses on TAM-targeted imaging agents for tumor localization, developed in collaboration with the University of Alabama at Birmingham. The research aims to improve tumor imaging while reducing liver localization, showcasing promising results with new imaging agents labeled with gallium-68. This presentation highlights Navidea's commitment to advancing medical imaging and potential therapeutic strategies.

Navidea Biopharmaceuticals (AMEX: NAVB) announced the acceptance of its abstract for a poster presentation at the Tumor Myeloid-Directed Therapies Summit scheduled for June 14-16, 2022, in Boston, MA. The poster will highlight new bisphosphonate drug constructs developed using Navidea’s CD206-targeted drug delivery platform, Manocept. These constructs successfully shifted human macrophage phenotypes towards a proinflammatory state and significantly reduced SIRPα expression, which may enhance cancer immunotherapy applications. Chief Medical Officer Dr. Michael Rosol emphasized the potential of these constructs in treating severe illnesses.