Navidea Biopharmaceuticals Prices $6.0 Million Public Offering of Common Stock

Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB) (“Navidea” or the “Company”), a company focused on the development of precision immunodiagnostic agents and immunotherapeutics, today announced the pricing of its previously announced underwritten public offering of 8,000,000 shares of common stock at a price to the public of $0.75 per share. Navidea has also granted the underwriter a 30-day option to purchase up to an additional 1,200,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about June 18, 2019, subject to customary closing conditions.

H.C. Wainwright & Co. is acting as sole underwriter for the offering.

The gross proceeds of the offering are expected to be $6.0 million (or $6.9 million if the underwriter exercises in full its option to purchase additional shares of common stock), prior to deducting underwriting discounts and commissions and other estimated offering expenses. Navidea intends to use the net proceeds from the offering to fund its research and development programs, including continuing to advance its Phase 2b and Phase 3 clinical trials of Tc99m tilmanocept in patients with rheumatoid arthritis, and for general working capital purposes and other operating expenses.

A registration statement on Form S-3 was filed by Navidea with the U.S. Securities and Exchange Commission (“SEC”) and was declared effective by the SEC on December 27, 2017. A preliminary prospectus supplement and an accompanying prospectus relating to and describing the terms of the offering and the shares of common stock being offered was filed with the SEC on June 13, 2019, and is available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, or by calling [phone] or by emailing [e-mail], or at the SEC’s website at http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of Navidea's common stock in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.