Navidea Biopharmaceuticals faces delisting from NYSE American, plans to move to OTC markets
Investing.com | Editor Ambhini Aishwarya
Published Oct 06, 2023 01:13AM ET
Navidea (NYSE:NAVB) Biopharmaceuticals, Inc. is facing delisting proceedings from the NYSE American LLC's Listings Qualifications Panel. This has led to a suspension in trading of its common stock, which is now expected to shift to Over-The-Counter (OTC) markets.
Despite the looming delisting, Navidea remains committed to its 'Fix, Fund, Propel' strategy. The company has a 15-day window to request a review of the decision and is currently awaiting the outcome of an application for delisting submitted to the Securities and Exchange Commission (SEC).
Even if delisted, Navidea will continue to be an SEC reporting company. Furthermore, the company is considering relisting on a national securities exchange in the future. Navidea reassured stakeholders that these developments would not impact its business operations.
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