Navidea Biopharmaceuticals, Inc. (NAVB) stock soared 25.58% in the pre-market trading session at the price of $1.11 following the regulatory approval of Lymphoaim in India.
NAVB is a biopharmaceutical firm centered on the production of innovative immuno-diagnostic agents. The company is devising numerous precision-targeted surgical products using its Manocept technology to facilitate better diagnostic precision, clinical decisions, and targeted therapy. The company’s product channels improve patient care by identifying the disease sites and pathways.
NAVB Reported Lymphoaim Approval
On 18th April 2022, NAVB reported the regulatory approval of Lymphoaim by the CDSCO, India. Sayre Therapeutics, Inc. will lead the commercialization of Lymphoaim across India through an earlier signed license and distribution deal with Navidea.
Tc99m tilmanocept has developed for intraoperative detection and imaging of sentinel lymph nodes causing a tumor in patients having melanoma or breast cancer. The device accurately identifies lymph nodes, which are the probable cause of harboring cancer.
NAVB Business Outlook
Navidea has dedicated to delivering exceptional growth and shareholder value by producing novel products and extending its pipeline through partnerships and commercialization measures. Its research team works diligently to improve the technology in key disease sectors, with a focus on its RA program.
The company has completed its enrollment in a normative database clinical trial and enrolling for Phase-3 NAV3-33 clinical trial. The stock is progressing in its therapeutics pipeline and hopes to keep advancing the products towards clinical development. The company is confident in executing its business strategy and fulfilling the vision for a better future.
Following the regulatory approval of Lymphoaim, the drug will be available for patients in India. This milestone will generate a new revenue stream for the stock to advance other product pipelines. This product serves well with the NAVB’s aim of providing unique treatment solutions and will boost the stock’s existence in surgical oncology.