Navidea Biopharmaceuticals Inc (NYSE:NAVB)
While incredibly volatile, Navidea Biopharmaceuticals has been trending up overall in the market as of late, and for good reason. The company recently sold a core asset that, which got rid of debt and gave the company the capital it needed to proceed with ongoing and future clinical studies. Today, there's yet another reason to be bullish on the stock. The news comes out of the European Medicines Agency. Today, we'll talk about the news, what we're seeing from the stock as a result, and what we can expect to see from NAVB moving forward.
NAVB Receives Positive News From The EMA
As mentioned above, today is a big day for Navidea Biopharmaceuticals. The company announced positive news from the European Medicines Agency's Committee for Medical Products for Human Use. The news is that the regulatory committee has granted a positive opinion of a new Lymphoseek 50 microgram kit for radiopharmaceutical preparation.
At the moment, Lymphoseek is approved in the EU for imaging and intraoperative detection of sentinel lymph nodes draining a primary tumor in adult patients with breast cancer, melanoma, or localized squamous cell carcinoma of the oral cavity. The new dose packaging, if it comes to fruition, will also enable NAVB to offer a single injection per patient and is considered to be appropriate for the radiopharmaceutical distribution model in Europe. In a statement, William J. Regan, SVP and Director of Navidea UK, Ltd., had the following to offer with regard to the news:
“This is an important milestone achieved by both Navidea and our partner SpePharm AG and was achieved through great collaboration by both companies... We are excited that Lymphoseek, with proven clinical benefits and performance characteristics which may improve the clinical outcomes of oncology patients, will shortly be available throughout Europe. The impact of this new dose packaging will also be important to Lymphoseek distribution as we register in markets throughout the rest of the world.”
How The Stock Reacted To The News
As investors, one of the first things that we learn is that the news moves the market. Any time positive news is released with regard to a publicly-traded company, we can expect to see gains in the value of the stock associated with the company as a result. Of course, the news released today was overwhelmingly positive. After all, this news will lead to better distribution of Lymphoseek in Europe, which is a big thing for NAVB. As a result, we're seeing gains in the value of the stock today. Currently (1:17), the stock is trading at $0.90 per share after a gain of $0.03 per share (3.57%) thus far today.
What We Can Expect To See Moving Forward
Moving forward, I have an overwhelmingly bullish opinion of what we can expect to see from Navidea Biopharmaceuticals. At the end of the day, the company has done an incredible job with regard to Lymphoseek. The furthering of distribution in the UK is only going to strengthen the brand. Also, with the recent news of the asset sale, NAVB no longer has concerns with regard to debt and has an incredible amount of working capital. All in all, things seem to be going increasingly well for the company.