LifeTech Capital Maintains Strong Speculative Buy on Navidea After Alseres Agreement

LifeTech Capital has published a research report on Navidea Biopharmaceuticals NAVB after the company announced yesterday that the company has entered into a deal with Alseres Pharmaceuticals (formerly Boston Life Sciences). In the report, LifeTech writes, "After market close yesterday, Navidea announced that they entered into an option agreement with Alseres Pharmaceuticals (formerly Boston Life Sciences) to license Altropane® ([123I]-E-IAFCT Injection), an Iodine-123 radiolabeled imaging agent, being developed as an aid in the diagnosis of Parkinson's disease and movement disorders. The option agreement provides for exclusive rights for 6 months (June 30, 2012) to perform final due diligence and prepare the documentation necessary to enter into a definitive license agreement. We note that both Mark Pykett,CEO and Dr. Thomas Tulip,EVP are previously from Alseres." LifeTech Capital maintains its Strong Speculative Buy rating and $5.75 price target on Navidea Biopharma, which closed yesterday at $2.70.