Navidea Biopharmaceuticals Announces Extension of NYSE American Listing

Navidea Biopharmaceuticals (NYSEA:NAVB) has announced receipt of notice from the NYSE American LLC that the exchange has given the company an extension until March 31, 2019 to regain compliance with section 1003(f)(v) of its listing standards.

As quoted in the press release:

Navidea previously disclosed that it received a notification from the NYSE American stating that Navidea was not in compliance with certain provisions of the NYSE American continued listing standards, including Section 1003(f)(v), which relates to the selling price per share of the Company’s securities. The NYSE American staff initially granted Navidea a plan period through February 14, 2019 to regain compliance with Section 1003(f)(v) by effecting a reverse stock split or otherwise demonstrating sustained price improvement. In August 2018, Navidea’s stockholders voted to approve a potential amendment to the Company’s amended and restated certificate of incorporation to effect a reverse split of the Company’s common stock, as determined by the Board of Directors at its discretion, of a ratio of not less than one-for-five and not more than one-for-twenty.

Navidea’s Common Stock will continue to be listed on the NYSE American while it attempts to regain compliance with the listing standards noted, subject to Navidea’s compliance with other continued listing requirements.

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