Navidea Biopharmaceuticals, Inc. Receives $7.5M Cash From Cardinal Health In Lieu Of Contingent Milestone Payment; Shares Resumed Trading
Portfolio Pulse from Benzinga Newsdesk
Navidea Biopharmaceuticals (NYSE:NAVB) has received a $7.5 million cash payment from Cardinal Health (NYSE:CAH) after amending their Asset Purchase Agreement. The payment provides immediate capital for Navidea's Phase IIb and Phase III trials and related operations.
June 16, 2023 | 6:37 pm
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POSITIVE IMPACT
Navidea Biopharmaceuticals receives $7.5 million cash from Cardinal Health, providing immediate capital for Phase IIb and Phase III trials.
The cash payment from Cardinal Health provides Navidea with immediate capital to fund their Phase IIb and Phase III trials and related operations. This is likely to have a positive impact on Navidea's stock price in the short term as it demonstrates financial support and partnership with a major player in the industry.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Cardinal Health paid $7.5 million cash to Navidea Biopharmaceuticals, aligning strategic goals and supporting growth related to LYMPHOSEEK.
The cash payment to Navidea Biopharmaceuticals aligns strategic goals and supports growth related to LYMPHOSEEK for both organizations. However, the impact on Cardinal Health's stock price is expected to be neutral in the short term as the payment is not a significant amount for a company of Cardinal Health's size and the news is more focused on Navidea's trials.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 60