Navidea Biopharmaceuticals, Inc. (NYSE MKT: NAVB), a biopharmaceutical company focused on precision diagnostic radiopharmaceuticals, today announced the results of voting at its 2013 Annual Meeting of Stockholders (the Annual Meeting) held June 27, 2013.
At the Annual Meeting, Navidea’s stockholders:
- Re-elected Brendan A. Ford and Eric K. Rowinsky, MD to the Navidea Board of Directors and to serve for a term of three years; and,
- Ratified the appointment of BDO USA, LLP to act as the Company’s independent registered public accounting firm for 2013.
Following the formal business portion of the Annual Meeting, Dr. Mark Pykett, Navidea CEO, and other members of the Navidea executive team made a series of presentations to stockholders in attendance at the Annual Meeting, including updates on the following:
- Lymphoseek ® U.S. commercialization and indication expansion development activities;
- Selection of a specialty pharma partner for Lymphoseek commercialization in Europe; and,
- Initiation of the pivotal NAV4694 Phase 3 registration study.
“We appreciate the support and confidence of our valued stockholders, and we are confident that we are well-positioned to continue to deliver strong performance and drive shareholder value," Dr. Pykett said. “At the center of our strong execution throughout the past year was the approval and launch of Lymphoseek, the first new diagnostic agent for lymphatic mapping in 30 years in the U.S. Looking ahead, we have programs in place for the expansion of Lymphoseek into additional worldwide markets and medical indications that we believe will set the stage for continuing growth. In addition, we have further enhanced our leadership in innovative precision diagnostics through the development of our neurology portfolio, which features best-in-class diagnostic candidates that we believe will provide potential competitive advantages.”
(technetium Tc 99m tilmanocept) Injection is a novel, receptor-targeted, small-molecule radiopharmaceutical used in lymphatic mapping procedures that are performed to help in the diagnostic evaluation of potential cancer spread for patients with breast cancer and melanoma. Lymphoseek is designed to identify the lymph nodes that drain from a primary tumor, which have the highest probability of harboring cancer. Lymphoseek was approved by the U.S. Food and Drug Administration in March, 2013 for use in lymphatic mapping to assist in the localization of lymph nodes draining a primary tumor in patients with breast cancer or melanoma. The Company anticipates continuing development of Lymphoseek into other solid tumor areas that may include head and neck cancers, prostate cancer, thyroid cancer, lung/bronchus cancers, colorectal cancer and others.
Accurate diagnostic evaluation of cancer is critical, as it guides therapy decisions and determines patient prognosis and risk of recurrence. According to the American Cancer Society, approximately 232,000 new cases of breast cancer, 77,000 new cases of melanoma and 67,000 new cases of head and neck/oral cancer are expected to be diagnosed in the United States in 2013.