Stock Alert: Navidea Biopharma Shares Up 75% In Late Trade

Shares of Navidea Biopharmaceuticals Inc. (NAVB) soared 96 cents or 75.59% to $2.23, after the company announced positive preliminary results from its second interim analysis of its ongoing NAV3-31 Phase 2B study.

Analysis demonstrates that these interim data further corroborate Navidea’s hypotheses that Tc99m tilmanocept imaging can provide robust, quantitative imaging in healthy controls and in patients with active rheumatoid arthritis or RA, and that this imaging can provide an early indicator of treatment efficacy in patients with active RA.

Michael Rosol, Chief Medical Officer for Navidea, said, “We are encouraged by these interim results, which are in line with our hypotheses, support the continuation of the current Phase 2B study, and will be fundamental to speaking with the FDA about moving forward into the Phase 3 trial later this year.”

The stock has been trading in the range of $0.49 – $1.81 for the past one year, and closed Friday’s trade at $1.27, down 2 cents or 1.55%. Trading volume rose to 143K versus an average volume of 141K shares.

Source: Read Full Article