On the Move Stock Trend: Navidea Biopharmaceuticals, Inc. (NYSE-NAVB)

On 22 May 2019, Navidea Biopharmaceuticals, Inc. (NYSE-NAVB) negotiated 13,349 shares against it an average volume of 46,575 shares. The stock concluded the recent trade at $1.3800 with upbeat/downbeat trend move of -3.50%. The company has total market value of 13.851M billion. The daily trading range was observed between a day’s low price of $1.3770 to a day’s high price of $1.4206.

Navidea Biopharmaceuticals, Inc. (NAVB) recently reported its financial results for the fourth quarter and full year of 2018. Navidea stated total revenues for the quarter of $119,000. Net loss attributable to ordinary stockholders was $3.2M.

Fourth Quarter 2018 Highlights and Subsequent Events

  • Filed a comprehensive three-part clinical trial proposal for imaging of rheumatoid arthritis with the U.S. Food and Drug Administration (“FDA”), following end-of-Phase 2 discussions
  • Presented corporate overviews at the 2018 BIO Investor Forum and the 2018 LD Micro Yearly Event
  • Presented data on the Manocept platform at the 2018 ACR Yearly Meeting and at the 2018 Radiological Society of North American Scientific Assembly and Yearly Meeting
  • Received notification of acceptance by the NYSE American of the Company’s plan to regain compliance with continued listing standards; also received an extension of the deadline to remedy the low stock price to March 31, 2019
  • Won dismissal of Platinum litigation
  • Reported release of a letter by the FDA to the U.S. Patent and Trademark Office (“USPTO”) indicating that the USPTO is allowed to extend the patent for Lymphoseek® through May 2025
  • Designated Adam D. Cutler and S. Kathryn Rouan, Ph.D. to the Navidea Board of Directors
  • Hired Michael S. Rosol, Ph.D. as Navidea’s Chief Medical Officer

Financial Results

Our consolidated balance sheets and statements of operations have been reclassified, as required by current accounting standards, for all periods presented to reflect the line of business sold to Cardinal Health 414, LLC in March 2017 as a discontinued operation. Accordingly, this discussion focuses on describing results of our operations as if we had not operated the discontinued operation during the periods being revealed.

  • Total revenues for the fourth quarter of 2018 were $119,000, contrast to $395,000 in the same period of 2017. The decrease was primarily Because of a reduction in grant revenue related to SBIR grants from the NIH supporting Manocept development. Total revenues for the full year of 2018 were $1.2M, contrast to $1.8M in 2017. The decrease was primarily Because of a reduction in grant revenue, offset by raised license revenue related to the sublicense of NAV4694 to Meilleur. Revenue in both years included other revenue from our marketing partners in Europe and China related to development work performed at their request.
  • Research and development (“R&D”) expenses for the fourth quarter of 2018 were $854,000, contrast to $1.7M in the same period of 2017. R&D expenses for the full year of 2018 were $4.2M, contrast to $4.5M in 2017. The decrease in both periods was primarily Because of net decreases in Manocept development costs for clinical trials, coupled with reduced compensation costs resulting from headcount reduction.

The volatility in the previous week has experienced by 4.78% and observed of 12.01% in the previous month.5.20% ownership is held by institutional investors while insiders hold ownership of 11.40%. The average true range of the stock is observed at 0.23 and the relative strength index of the stock is recorded at 26.36.

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