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Navidea Biopharmaceuticals (NAVB) Reiterates Position on Recent Financing, Stock Price


10/23/2013 10:10:14 AM

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DUBLIN, Ohio--(BUSINESS WIRE)--Navidea Biopharmaceuticals, Inc. (NYSE MKT:NAVB) recently completed a sale of common stock and warrants for gross proceeds of $30 million under a registered direct public offering. Since that placement, Navidea shares have experienced a serious, and in the Company’s estimation, unwarranted decline in value. The Company reiterates that it raised the funds primarily to enhance a series of initiatives underway including commercial opportunities for Lymphoseek® (technetium 99m tilmanocept) Injection outside the U.S., the continued development of its neurodegenerative imaging portfolio, and further evaluation of Manocept™ platform initiatives.

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