Navidea Biopharmaceuticals Receives Acceptance Letter from NYSE American
Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB) received a notification from the NYSE American for not meeting the $6.0 million stockholders’ equity requirement as of January 28, 2022. The company is also non-compliant with additional equity requirements, having reported only $624,743 in stockholders’ equity by December 31, 2021. Navidea submitted a compliance plan, accepted by NYSE American on April 8, 2022, with a deadline to regain compliance by July 28, 2023. Navidea's common stock will continue trading under NAVB, marked with a '.BC' designation indicating non-compliance.
- Navidea has a plan accepted by NYSE American to regain compliance with listing standards.
- Continued listing of common stock under NAVB while working towards compliance.
- Navidea's stockholders' equity is only $624,743, significantly below required levels.
- The company has reported net losses for the past five fiscal years.
- Failure to meet compliance could lead to delisting from NYSE American after July 28, 2023.
On
The NYSE American has granted the Company a plan period through
Navidea’s common stock will continue to be listed on the NYSE American while it attempts to regain compliance with the listing standards noted, subject to Navidea’s compliance with other continued listing requirements. The common stock will continue to trade under the symbol “NAVB,” but will have an added designation of “.BC” to indicate that Navidea is not in compliance with the NYSE American’s listing standards. The NYSE American notification does not affect Navidea’s business operations or its
About Navidea
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 ability to obtain additional financing; our ability to continue as a going concern; 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
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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.
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Investor Relations Contact
Vice President of Operations
614-822-2365
jsmith@navidea.com
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