Market Overview

Navidea Biopharmaceuticals Announces Reverse Stock Split


Navidea Biopharmaceuticals, Inc. (NYSE:NAVB) ("Navidea" or the
"Company"), a company focused on the development of precision
immunodiagnostic agents and immunotherapeutics, today announced that its
Board of Directors has approved a one-for-twenty reverse stock split of
its issued and outstanding shares of common stock. The reverse split
will be effective at 12:01 a.m. (EDT) on April 26, 2019, and shares of
the Company's common stock will begin trading on a split-adjusted basis
when the NYSE American market opens on that date.

The Company's common stock will continue to trade on the NYSE American
under the trading symbol "NAVB," but will trade under the following new
CUSIP number starting April 26, 2019: 63937X202. As a result of the
reverse split, each twenty pre-split shares of common stock outstanding
will automatically combine into one new share of common stock without
any action on the part of the stockholder. The number of outstanding
common shares will be reduced from approximately 201.0 million to
approximately 10.1 million shares. The authorized number of shares of
common stock will not be reduced and will remain at 300.0 million. As
previously disclosed, at the Company's Annual Meeting of Stockholders
held on August 16, 2018, the Company's stockholders approved a proposal
authorizing the Company's Board of Directors to effect a reverse stock
split by a ratio of not less than one-for-five and not more than

The reverse stock split is being effected as part of the Company's plan
to regain compliance with the $0.20 minimum bid price continued listing
requirement of the NYSE American and due to the fact that our share
price level of under $1.00 keeps many brokerage groups and institutional
investors from trading our stock. These institutions have internal
restrictions that prohibit them, or their clients, from investing in
stocks below certain trading price thresholds. Many brokerage firms and
institutional investors (including pension funds, mutual funds and
endowments) have internal policies and practices that either prohibit
them from investing in low-priced stocks or discourage brokers from
recommending them to their customers. Such policies may also restrict or
limit an investor's ability to purchase such stocks on margin. The
Company expects that the reverse split will increase the price of our
common stock such that it is no longer subject to such policies and
practices, thereby making it available for purchase by a much larger
investor base. We have been advised by certain institutional investors
and financial advisors that a higher share price might increase the
participation of investors who currently find our shares unattractive,
solely due to the trading volatility typically associated with very
low-priced stocks. A reverse split could increase the price of our
common stock and make it more acceptable in this regard.

"We believe this proactive measure, approved by our stockholders, will
satisfy NYSE listing requirements, and allow our Management Team to
focus on the development of the product pipeline and ultimately enhance
value for stockholders," said Jed Latkin, Chief Executive Officer of
Navidea. "Additionally, we believe that a higher share price may attract
additional brokerage firms and institutional investors, who previously
may have been prohibited from investing in shares of the Company."

The reverse stock split affects all issued and outstanding shares of the
Company's common stock. In addition, the reverse split reduces the
number of shares of common stock issuable upon the exercise of stock
options or warrants outstanding immediately prior to the reverse split,
and the number of shares reserved for future issuance under the
Company's existing incentive compensation plan will be proportionately
reduced. The par value of the Company's common stock will remain
unchanged at $0.001 per share after the reverse split. The reverse split
affects all stockholders uniformly and will not alter any stockholder's
percentage interest in the Company's equity, except to the extent that
the reverse split results in some stockholders owning a fractional share
as described below.

No fractional shares will be issued in connection with the reverse stock
split. Stockholders who would otherwise be entitled to receive a
fractional share will instead receive a cash payment based on the
closing price of the Company's common stock on April 25, 2019.

Continental Stock Transfer & Trust Co. is acting as the exchange agent
and transfer agent for the reverse stock split. Continental will provide
instructions to stockholders with physical certificates regarding the
optional process for exchanging their pre-split stock certificates for
post-split stock certificates and receiving payment for any fractional
shares. Stockholders who hold their shares in brokerage accounts or in
"street name" will not be required to take any action to effect the
exchange of their shares. Additional information regarding the reverse
split can be found in the Company's definitive proxy statement filed
with the Securities and Exchange Commission on July 9, 2018.

About Navidea

Navidea Biopharmaceuticals, Inc. (NYSE:NAVB) is a
biopharmaceutical company focused on the development of precision
immunodiagnostic agents and immunotherapeutics. Navidea is developing
multiple precision-targeted products based on its Manocept™ platform to
enhance patient care by identifying the sites and pathways of disease
and enable better diagnostic accuracy, clinical decision-making, and
targeted treatment. Navidea's Manocept platform is predicated on the
ability to specifically target the CD206 mannose receptor expressed on
activated macrophages. The Manocept platform serves as the molecular
backbone of Tc99m tilmanocept, the first product developed and
commercialized by Navidea based on the platform. The development
activities of the Manocept immunotherapeutic platform are being
conducted by Navidea in conjunction with its subsidiary, Macrophage
Therapeutics, Inc. Navidea's strategy is to deliver superior growth and
stockholder return by bringing to market novel products and advancing
the Company's pipeline through global partnering and commercialization

For more information, please visit

Forward-Looking Statements

This release and any oral statements made with respect to the
information contained in this release contains forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. We have based these forward-looking statements largely
on our current expectations and projections about future events and
financial trends affecting the financial condition of our business.
These forward-looking statements include statements concerning the
reverse stock split and Navidea's ability to regain compliance with the
NYSE American's listing rules, and such statements are subject to a
number of risks, uncertainties and assumptions, including, among other
things: any future actions by Platinum-Montaur; general economic and
business conditions, both nationally and in our markets; our history of
losses and uncertainty of future profitability; the final outcome of any
pending litigation; our ability to successfully complete research and
further development of our drug candidates; the timing, cost and
uncertainty of obtaining regulatory approvals of our drug candidates;
our ability to successfully commercialize our drug candidates; our
expectations and estimates concerning future financial performance,
financing plans and the impact of competition; our ability to raise
capital sufficient to fund our development and commercialization
programs; our ability to implement our growth strategy; anticipated
trends in our business; advances in technologies; our ability to comply
with the NYSE American continued listing standards; our ability to
maintain effective internal control over financial reporting; and other
risk factors detailed in our most recent Annual Report on Form 10-K and
other SEC filings. You are urged to carefully review and consider the
disclosures found in our SEC filings, which are available at or

Investors are urged to consider statements that include the words
"will," "may," "could," "should," "plan," "continue," "designed,"
"goal," "forecast," "future," "believe," "intend," "expect,"
"anticipate," "estimate," "project," and similar expressions, as well as
the negatives of those words or other comparable words, to be uncertain
forward-looking statements.

You are cautioned not to place undue reliance on any forward-looking
statements, any of which could turn out to be incorrect. We undertake no
obligation to update publicly or revise any forward-looking statements,
whether as a result of new information, future events or otherwise after
the date of this report. In light of these risks and uncertainties, the
forward-looking events and circumstances discussed in this report may
not occur and actual results could differ materially from those
anticipated or implied in the forward-looking statements.

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