Navidea Biopharmaceuticals, Inc. Faces NYSE Delisting Proceedings amid Appeal Efforts

Navidea Biopharmaceuticals, Inc., a leader in precision immunodiagnostic agents and immunotherapeutics, is in the midst of a challenging situation as the NYSE American has initiated delisting proceedings. The company has received written notification from NYSE American LLC stating that it is no longer suitable for listing on the exchange. However, Navidea is determined to appeal this determination and is taking action to protect its interests.

The NYSE Regulation has determined that Navidea is not in compliance with certain sections of the NYSE American Company Guide. Specifically, the company failed to demonstrate compliance with Sections 1003(a)(i), (ii), and (iii) of the Company Guide within the specified timeline. As a result, the Exchange has applied to the Securities and Exchange Commission to delist Navidea's common stock, pending completion of all necessary procedures.

In response to the staff's determination, Navidea has the right to appeal the decision. The company's Board of Directors has decided to exercise this right and will be filing a written request for a review within seven calendar days. While there is no guarantee that the request will be granted, Navidea remains hopeful for a positive outcome.

During the appeal process, Navidea's common stock will continue to be listed and traded on NYSE American. However, the Exchange has the discretion to suspend trading if deemed necessary for the public interest, investor protection, or to promote fair trade principles. Navidea is committed to upholding transparency and will make arrangements for its common stock to be quoted on the over-the-counter market if delisting from the Exchange becomes necessary.

Navidea Biopharmaceuticals, Inc. is a renowned biopharmaceutical company specializing in the development of precision immunodiagnostic agents and immunotherapeutics. The company's focus is on creating targeted products based on its innovative Manocept platform. This platform enables better diagnostic accuracy, clinical decision-making, and targeted treatment by identifying disease sites and pathways.

Navidea's Manocept platform is built upon the CD206 mannose receptor's ability to specifically target activated macrophages. It serves as the foundation for Tc99m tilmanocept, the company's flagship product. Navidea's growth strategy includes bringing novel products to market and advancing its pipeline through global partnerships and commercialization efforts.

While facing the challenge of delisting proceedings, Navidea remains determined to deliver superior growth and shareholder returns. The company's commitment to innovation and patient care drives its mission to provide advanced medical solutions. Despite the current setback, Navidea is confident in its ability to navigate this situation and emerge stronger.

In conclusion, Navidea Biopharmaceuticals, Inc. is facing delisting proceedings on the NYSE American. However, the company is determined to appeal the decision and is taking the necessary steps to protect its interests. Navidea's focus on precision immunodiagnostic agents and immunotherapeutics continues to drive its growth strategy, and it remains committed to providing innovative medical solutions.