The Future of Navidea: An Appeal for Continued NYSE American Listing

Navidea Biopharmaceuticals, Inc. NAVB Requests Oral Hearing With NYSE Hearing Panel

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 it has formally submitted a request for an oral hearing with NYSE American Hearing Panel to appeal potential delisting of its stock from the New York Stock Exchange (NYSE American), while also continuing its Fix, Fund, Propel approach.

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In a bid to challenge the potential delisting of its stock from the New York Stock Exchange (NYSE American), Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB) has submitted a formal request for an oral hearing with the NYSE American Hearing Panel. The company, known for its development of precision immunodiagnostic agents and immunotherapeutics, aims to provide detailed strategic plans to remedy the required compliance actions, ultimately enabling the company to continue trading on the NYSE American.

According to Craig A. Dais, Navidea's Chief Financial Officer, the company believes strongly in the progress it is making and the impact of the changes being implemented. Dais emphasizes the importance of the upcoming hearing as an opportunity to outline Navidea's plans for compliance, all while focusing on advancing the company's innovative technology and delivering value to its stockholders.

The company's request for an oral hearing comes after Navidea received a letter from NYSE American, dated July 28, 2023, notifying them of the intent to commence proceedings to delist the company's common stock from the exchange. With the support of the company's board and executive consultants, G2G Ventures, Navidea aims to overturn the delisting decision through the appeal process.

The hearing before the NYSE American Hearing Panel is scheduled for September 26, 2023, and will allow Navidea the opportunity to present a plan of compliance addressing the circumstances that led to the delisting decision. However, it is important to note that the outcome of the oral hearing remains uncertain, and if the delisting decision is not reversed, Navidea's stock would temporarily trade on the OTC market until the company meets the re-listing requirements for the NYSE American Exchange.

During the appeal process, the company's delisting will be stayed, and its shares will continue to trade on the exchange, barring any additional action from NYSE American. Navidea also plans to pursue its strategic objectives and explore capital sources to meet its growth needs, aligning with its Fix, Fund, Propel approach.

Navidea Biopharmaceuticals, Inc. is primarily focused on the development of precision immunodiagnostic agents and immunotherapeutics. Leveraging its Manocept platform, the company aims to enhance patient care by identifying disease sites and pathways, enabling better diagnostic accuracy, clinical decision-making, and targeted treatment. The Manocept platform specifically targets the CD206 mannose receptor expressed on activated macrophages and serves as the molecular backbone of Tc99m tilmanocept, Navidea's first product based on the platform.

Navidea's growth strategy centers on delivering novel products to the market and advancing its pipeline through global partnerships and commercialization efforts. The company continues to prioritize the development of cutting-edge technology and providing value to its shareholders.

G2G Ventures, serving as the executive consultants for Navidea, is a Colorado-based private equity firm that specializes in empowering organizations to reach their full potential through investment and consulting services. The firm offers customized capital solutions, including private equity investment, venture capital participation, and mezzanine debt options.

As Navidea looks to secure its listing on NYSE American, the company remains committed to its mission of advancing precision medicine and revolutionizing the field of immunodiagnostic agents and immunotherapeutics. The upcoming oral hearing will serve as a crucial turning point in Navidea's journey, determining the future path for the company and its stockholders.

In conclusion, Navidea's appeal to the NYSE American Hearing Panel highlights the company's determination to maintain its listing on the exchange. As the hearing approaches, Navidea remains confident in its ability to present a compelling case and outline its plans for compliance. With its focus on innovation and delivering value, Navidea is poised to overcome this challenge and continue its mission of advancing precision medicine.