This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Navidea Biopharmaceuticals Announces 2012 Annual Meeting Results

Stocks in this article: NAVB

Navidea Biopharmaceuticals, Inc. (NYSE MKT: NAVB), a biopharmaceutical company focused on precision diagnostic radiopharmaceuticals, today announced the results of voting at its 2012 Annual Meeting of Stockholders (the Annual Meeting) held August 14, 2012.

At the Annual Meeting, Navidea’s stockholders:

  • Re-elected as a Director of the Company, Gordon A. Troup, Chairman of the Board
  • Approved an amendment to the Company’s Amended and Restated 2002 Stock Incentive Plan (the Plan) to increase the maximum number of shares under the Plan from 10 million shares to 12 million shares; and,
  • Ratified the appointment of BDO USA, LLP to act as the Company’s independent registered public accounting firm for 2011.

Following the formal business portion of the Annual Meeting, Dr. Mark Pykett, Navidea President and CEO, and other members of the Navidea executive team made a series of presentations to stockholders in attendance at the Annual Meeting on topics including program updates for Lymphoseek ®, 4694, CFT and RIGScan TM, and other pipeline expansion activities.

The presentations included highlights on the following 2011-2012 milestone achievements including

  • Strategically re-focused and rebranded the Company based on a growing pipeline of precision diagnostic radiopharmaceuticals following the sale of the Neoprobe gamma detection device business
  • Strengthened Navidea’s financial position with the Hercules Technology II, LP, $7M debt-financing and more recently a $50M credit facility from Platinum-Montaur Life Sciences, LLC, providing the Company with significant, yet flexible, financial resources to fund short- and long-term development and growth plans.
  • Lymphoseek Program highlights: Filed Lymphoseek NDA and anticipate PDUFA date of September 10, 2012; investigator-initiated presentations of encouraging clinical site results from the Head and Neck Study; multiple presentations of breast cancer and melanoma Phase 3 data at key medical and scientific conferences; and presentation and publication of favorable comparison to the current standard of care (colloids + blue Dye); positive guidance from the EMA on the Lymphoseek MAA process for European registration, with preparations underway for the MAA filing before year-end 2012.
  • Other Programs: Expanded the pipeline by in-licensing a Phase 3-ready PET imaging agent, 4694, for aiding in the diagnosis of Alzheimer’s disease from Astra Zeneca; supported multiple presentations of 4694’s Phase 2 and Investigator-initiated studies at major, scientific and medical conferences; in-licensed a Phase 3 potential best-in-class SPECT imaging agent (CFT) for diagnosis of Parkinson’s disease.

At a meeting of the Board of Directors following the Annual Meeting, the Board completed a process to re-align its members into three classes of equal size. NYSE regulations require companies with classified Boards, such as Navidea, to maintain their classes of Directors in roughly equal numbers. To comply with this regulation, Dr. Peter Drake resigned from the Class of 2014 and was immediately re-appointed to the Board’s Class of 2015.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,472.23 +72.56 0.44%
S&P 500 1,911.97 +7.96 0.42%
NASDAQ 4,359.2290 +43.1550 1.00%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs