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News Breaks
May 19, 2014
09:26 EDTNAVBNavidea price target lowered to $3 from $5 at JMP Securities
JMP Securities cut its price target on Navidea after the company announced that it plans to wind down its development of drug candidates for Alzheimer’s and Parkinson’s diseases and focus on its launch of Lymphoseek. The firm keeps an Outperform rating.
News For NAVB From The Last 14 Days
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March 5, 2015
07:35 EDTNAVBNavidea sees FY15 Lymphoseek revenue $10M-$12M
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07:32 EDTNAVBNavidea reports Q4 EPS (5c), consensus (5c)
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07:18 EDTNAVBNavidea enters sublicense agreement with SpePharm for Lymphoseek
Navidea Biopharmaceuticals and SpePharm AG, an affiliate of Norgine BV, entered into an exclusive sublicense agreement for the commercialization and distribution of Lymphoseek 250 microgram kit for radiopharmaceutical preparation, tilmanocept, in the European Union. Under the terms of the agreement, Navidea will receive an upfront payment of $2M and is eligible to receive additional milestone payments up to $5M, as well as royalties on European net sales. “We expect Norgine to begin market access work immediately in the major markets in Europe with the goal of supporting commercial launch sometime in early 2016," said Navidea CEO Rick Gonzalez. Under terms of the exclusive license agreement, Navidea will supply Lymphoseek product to Norgine; however, Navidea will transfer responsibility for regulatory maintenance of the Lymphoseek Marketing Authorization to Norgine. Norgine will also be responsible for pricing, reimbursement, sales, marketing, medical affairs, and regulatory. The initial territory covered by the agreement includes all 28 member states of the European Economic Community with the option to expand into additional geographical areas.

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