Navidea Biopharmaceuticals Files Appeal in CRG Case

Rhea-AI Summary

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.

Positive

• None.

Negative

• Pending litigation could adversely affect Navidea's financial position and business strategies.
• History of operating losses presents a risk to future profitability.

DUBLIN, Ohio--(BUSINESS WIRE)-- Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB) (“Navidea” or the “Company”), a company focused on the development of precision immunodiagnostic agents and immunotherapeutics, today announced that on November 29, 2022, Navidea and its majority-owned subsidiary Macrophage Therapeutics, Inc. filed an appeal of the judgment by the District Court of Harris County, Texas in Case No. 2018-24442-151; Capital Royalty Partners II, L.P. et al. v. Navidea Biopharmaceuticals, Inc. and Macrophage Therapeutics, Inc., with the 14^th Court of Appeals of Texas for review by the appellate court.

About Navidea

Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB) is a biopharmaceutical company focused on the development of precision immunodiagnostic agents and immunotherapeutics. Navidea is developing multiple precision-targeted products based on its Manocept platform to enhance patient care by identifying the sites and pathways of disease and enable better diagnostic accuracy, clinical decision-making, and targeted treatment. Navidea’s Manocept platform is predicated on the ability to specifically target the CD206 mannose receptor expressed on activated macrophages. The Manocept platform serves as the molecular backbone of Tc99m tilmanocept, the first product developed and commercialized by Navidea based on the platform. Navidea’s strategy is to deliver superior growth and shareholder return by bringing to market novel products and advancing the Company’s pipeline through global partnering and commercialization efforts. For more information, please visit www.navidea.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Forward-looking statements include our expectations regarding pending litigation and other matters. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, among other things: our history of operating losses and uncertainty of future profitability; the final outcome of any pending litigation; our ability to successfully complete research and further development of our drug candidates; the timing, cost and uncertainty of obtaining regulatory approvals of our drug candidates; our ability to successfully commercialize our drug candidates; dependence on royalties and grant revenue; our ability to implement our growth strategy; anticipated trends in our business; our limited product line and distribution channels; advances in technologies and development of new competitive products; our ability to comply with the NYSE American continued listing standards; our ability to maintain effective internal control over financial reporting; the impact of the current coronavirus pandemic; and other risk factors detailed in our most recent Annual Report on Form 10-K and other SEC filings. You are urged to carefully review and consider the disclosures found in our SEC filings, which are available at http://www.sec.gov or at http://ir.navidea.com.

Investors are urged to consider statements that include the words “will,” “may,” “could,” “should,” “plan,” “continue,” “designed,” “goal,” “forecast,” “future,” “believe,” “intend,” “expect,” “anticipate,” “estimate,” “project,” and similar expressions, as well as the negatives of those words or other comparable words, to be uncertain forward-looking statements.

You are cautioned not to place undue reliance on any forward-looking statements, any of which could turn out to be incorrect. We undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this report. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this report may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221130006173/en/

Navidea Biopharmaceuticals, Inc.

Jeffrey Smith

Vice President of Operations

614-822-2365

jsmith@navidea.com

Source: Navidea Biopharmaceuticals, Inc.

FAQ

What recent legal action has Navidea Biopharmaceuticals taken?

Navidea Biopharmaceuticals filed an appeal on November 29, 2022, against a Texas court judgment in a case with Capital Royalty Partners II, L.P.

What is the case number related to Navidea's recent appeal?

The case number is 2018-24442-151.

How might the pending litigation affect NAVB investors?

The outcome of the pending litigation could significantly impact Navidea's financial condition and operations, which may affect investor returns.

What is Navidea's focus as a biopharmaceutical company?

Navidea Biopharmaceuticals focuses on developing precision immunodiagnostic agents and immunotherapeutics.

What is the Manocept platform used by Navidea?

The Manocept platform is designed to enhance diagnostic accuracy and targeted treatment by specifically targeting the CD206 mannose receptor on activated macrophages.