Navidea Biopharmaceuticals, Inc. NAVB Requests Oral Hearing With NYSE Hearing Panel

Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB) (“Navidea” or the “Company”), a company focused on the development of precision immunodiagnostic agents and immunotherapeutics, today announced it has formally submitted a request for an oral hearing with NYSE American Hearing Panel to appeal potential delisting of its stock from the New York Stock Exchange (NYSE American), while also continuing its Fix, Fund, Propel approach.

“We are taking the prudent steps required to make our case to the Exchange Hearing Panel,” said Craig A. Dais, Navidea’s Chief Financial Officer. “We certainly respect the process and the perspective of the Exchange. We also believe strongly in the progress the Company is making, and the impact of the changes being made to move the Company forward. We look forward to the opportunity for a hearing, in order to provide detail on our strategic plans to fully remedy the required compliance actions which allow the Company to continue trading on the NYSE American. At the same time, we will continue our focus on using our Fix, Fund, Propel approach to advance Navidea’s innovative technology to market, follow our strategy, and deliver value to our stockholders.”

NYSE American Delisting Appeal Details

With the support of the Company’s Board, together with G2G Ventures as executive consultants, Navidea is taking steps toward its intent to appeal the potential delisting from NYSE American.

• Navidea received a letter dated July 28, 2023, which provided the Company notification of the NYSE American’s intent to commence proceedings to delist Navidea’s common stock from the Exchange.
• With the support of the Company’s Board, Navidea formally submitted a request on August 4, 2023 for an oral hearing with NYSE American Hearing Panel to appeal the delisting decision.
• Navidea then received notification from the NYSE American Exchange that a hearing before the Hearing Panel has been scheduled for September 26, 2023. The hearing will allow the Company the opportunity to present a plan of compliance to address the circumstances resulting in the delisting decision.
• There can be no assurance that NYSE American will reverse their decision following the oral hearing, in which case Navidea’s stock would then trade on the OTC market until such time as re-listing requirements can be achieved to return the Company’s stock to the NYSE American Exchange.
• During the appeal process, the appeal will stay the Company’s delisting, pending the NYSE American Hearing Panel’s decision. Shares will continue to trade on the Exchange during this time, barring any additional action from NYSE American.
• In parallel with the appeal process, the Company expects to continue pursuing its strategic objectives and exploring capital sources to meet Navidea’s specific growth needs, in line with its Fix, Fund, Propel approach.

About Navidea