Market Overview

Navidea Biopharmaceuticals Announces Proposed Public Offering of Common Stock

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Navidea Biopharmaceuticals, Inc. (NYSE:NAVB) ("Navidea" or the
"Company"), a company focused on the development of precision
immunodiagnostic agents and immunotherapeutics, today announced that it
intends to offer and sell shares of its common stock in an underwritten
public offering. Navidea also expects to grant the underwriter a 30-day
option to purchase up to an additional 15% of the number of shares of
common stock to be sold in the offering at the public offering price,
less underwriting discounts and commissions in such underwritten
offering. The proposed offering is subject to market and other
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.

H.C. Wainwright & Co. is acting as sole book-running manager for the
offering.

Navidea intends to use the net proceeds from the offering to fund its
research and development programs, including continuing to advance its
Phase 2b and Phase 3 clinical trials of Tc99m tilmanocept in patients
with rheumatoid arthritis, and for general working capital purposes and
other operating expenses.

A shelf registration statement on Form S-3 relating to the underwritten
public offering of the shares of common stock described above was filed
by Navidea with the U.S. Securities and Exchange Commission ("SEC") and
was declared effective by the SEC on December 27, 2017. A preliminary
prospectus supplement and an accompanying prospectus relating to and
describing the terms of the offering and the shares of common stock
being offered will be filed with the SEC and will be available on the
SEC's website at http://www.sec.gov.
Electronic copies of the preliminary prospectus supplement and the
accompanying base prospectus relating to the offering may be obtained,
when available, from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd
Floor, New York, NY 10022, or by calling (646) 975-6996 or by emailing placements@hcwco.com.

Before buying any shares of Navidea's common stock in the underwritten
public offering, you should carefully read the preliminary prospectus
supplement and the accompanying prospectus to be filed with the SEC with
respect to such offering, together with the information incorporated by
reference therein, which will provide more information about the Company
and the offering. These documents contain important information that you
should consider when making your investment decision. Navidea's SEC
filings are available to the public from the SEC's website at http://www.sec.gov.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities of the Company, nor shall
there be any sale of Navidea's common stock in any state or other
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction.

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
shareholder return by bringing to market novel products and advancing
the Company's pipeline through global partnering and commercialization
efforts.

For more information, please visit www.navidea.com.

Forward-Looking Statements

This press 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. Forward looking
statements include: (i) our intentions to offer and sell securities in
underwritten public offering, including the grant of an option period to
our underwriter; (ii) our expectations for the use of proceeds received
from the offering; and (iii) our intentions to file the preliminary
prospectus supplement and accompanying base prospectus with the SEC.
These forward-looking statements are subject to a number of risks,
uncertainties and assumptions, including, among other things: whether or
not the Company will be able to raise capital through the sale of its
shares of common stock, the final terms of the proposed offering, market
and other conditions, the satisfaction of customary closing conditions
related to the proposed public offering and the impact of general
economic, industry or political conditions in the United States or
internationally, 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. There can be no
assurance that the Company will be able to complete the proposed public
offering on the anticipated terms, or at all. You are urged to carefully
review and consider the disclosures found in our SEC filings, which are
available at http://www.sec.gov or
at http://ir.navidea.com.

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
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 press release, except as required by applicable law. In
light of these risks and uncertainties, the forward-looking events and
circumstances discussed in this press release may not occur and actual
results could differ materially from those anticipated or implied in the
forward-looking statements.

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