Navidea Announces Fourth Quarter and Full Year 2015 Results

Navidea Biopharmaceuticals, Inc. (NYSEMKT:NAVB) announced results for the fourth quarter and year ended December 31, 2015.
According to the news:

Navidea reported total revenue for 2015 of $13.2 million including Lymphoseek^®(technetium Tc 99m tilmanocept) injection sales revenue of $10.3 million compared to total revenue of $6.3 million for 2014, which included Lymphoseek sales revenue of $4.2 million.

Rick Gonzalez, Navidea President and Chief Executive Officer commented:

2015 was marked by a strong turnaround in our commercial business, more than doubling total brand sales to approximately $20 million and recognizing revenue to Navidea of more than $10 million, meeting guidance for the first time under the leadership of our new management team. Importantly, we have advanced several innovative programs in our pipeline and have begun clinical testing for new large market opportunities, leveraging our Manocept™ immune-cell targeting platform. These achievements were accomplished while managing our operations within very restrictive capital constraints. Looking forward to 2016, we will continue our efforts to aggressively streamline operations and manage expenses while working towards our goals of doubling sales for the second year in a row, achieving operational cash flow break-even, and advancing our development pipeline, which is essential to sustaining our long-term growth.

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