Navidea Biopharmaceuticals Announces Dual Listing on Tel Aviv Stock Exchange
September 02 2015 - 7:30AM
Business Wire
- Common shares already listed on NYSE MKT will
also list on the Tel Aviv Stock Exchange (TASE) beginning September
8, 2015 under ticker symbol NAVB -
- Company anticipates joining TASE's TA-75,
TA-100, TA-BlueTech, TA-Tech-Elite and TA-Biomed indexes -
Navidea Biopharmaceuticals Inc., (NYSE MKT: NAVB), a
biopharmaceutical company focused on the development and
commercialization of precision diagnostics, therapeutics and
radiopharmaceutical agents, today announced that the Tel Aviv Stock
Exchange (TASE) has approved the new listing of Navidea's common
stock on the TASE beginning on Tuesday, September 8, 2015 under the
ticker symbol NAVB. The Company's common stock will be listed on
both the NYSE MKT in the United States and the TASE in Israel. The
Company also announced today that, based upon Navidea’s current
market capitalization, it expects its shares to be subject to
inclusion in five TASE equity indexes.
“As commercialization of Lymphoseek grows globally, we are
gratified with the opportunity to join many top companies as part
of the TASE and our expected inclusion in their TA-75, TA-100,
TA-BlueTech, TA-Tech-Elite and TA-Biomed indexes,” said Rick
Gonzalez, President and CEO of Navidea. "We believe this dual
listing will facilitate access to an emerging international capital
market, further diversify our shareholder base in a region with
growing biotech and pharma industries, and expand our exposure and
access to the Israeli investment community."
TASE CEO, Yossi Beinart said, “We welcome Navidea
Biopharmaceuticals to the Tel Aviv Stock Exchange Dual Listing, and
believe that this is a recognition of the Biomed sector’s special
position at the Tel Aviv Stock Exchange. Navidea joins a group of
46 cross-listed companies entitling them to significant benefits
including, added exposure among Israeli investors, extension of the
trading day, investment by Exchange Traded Product vendors, and
easy access to institutional and retail investors as well as to
global growth companies.”
Navidea is, and will remain, subject to the applicable rules and
regulations of NYSE MKT-listed companies and the U.S. Securities
and Exchange Commission. Under Israel's Dual Listing Law,
U.S.-listed companies may also list on the TASE without any
additional regulatory requirements. Trading on the TASE occurs
Sunday through Thursday from 8:30 am to 4:30 pm Israel time, except
on TASE trading holidays, and trading on the NYSE MKT occurs Monday
through Friday, 9:30 am to 4:00 pm Eastern Time, except on NYSE
holidays. The TASE Clearing House is electronically linked to the
Depository Trust Company, a subsidiary of the Depository Trust
& Clearing Corporation, to automate the cross-border settlement
of shares listed on both the TASE and a U.S. Exchange.
About Navidea
Navidea Biopharmaceuticals, Inc. (NYSE MKT: NAVB) is a
biopharmaceutical company focused on the development and
commercialization of precision diagnostics, therapeutics and
radiopharmaceutical agents. Navidea is developing multiple
precision-targeted products and platforms including Manocept™ and
NAV4694 to help identify the sites and pathways of undetected
disease and enable better diagnostic accuracy, clinical
decision-making, targeted treatment and, ultimately, patient care.
Lymphoseek® (technetium Tc 99m tilmanocept) injection, Navidea’s
first commercial product from the Manocept platform, was approved
by the FDA in March 2013 and in Europe in November 2014. Navidea’s
strategy is to deliver superior growth and shareholder return by
bringing to market novel radiopharmaceutical agents and
therapeutics, and advancing the Company’s pipeline through global
partnering and commercialization efforts. For more information,
please visit www.navidea.com.
The Private Securities Litigation Reform Act of 1995 (the Act)
provides a safe harbor for forward-looking statements made by or on
behalf of the Company. Statements in this news release, which
relate to other than strictly historical facts, such as statements
about the Company’s plans and strategies, expectations for future
financial performance, new and existing products and technologies,
anticipated clinical and regulatory pathways, and markets for the
Company’s products are forward-looking statements within the
meaning of the Act. The words “believe,” “expect,” “anticipate,”
“estimate,” “project,” and similar expressions identify
forward-looking statements that speak only as of the date hereof.
Investors are cautioned that such statements involve risks and
uncertainties that could cause actual results to differ materially
from historical or anticipated results due to many factors
including, but not limited to, the Company’s continuing operating
losses, uncertainty of market acceptance of its products, reliance
on third party manufacturers, accumulated deficit, future capital
needs, uncertainty of capital funding, dependence on limited
product line and distribution channels, competition, limited
marketing and manufacturing experience, risks of development of new
products, regulatory risks and other risks detailed in the
Company’s most recent Annual Report on Form 10-K and other
Securities and Exchange Commission filings. The Company undertakes
no obligation to publicly update or revise any forward-looking
statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20150902005418/en/
Navidea BiopharmaceuticalsInvestorsTom Baker,
617-532-0624tbaker@navidea.comorMediaSharon Correia, 978-655-2686Associate
Director, Corporate Communications
Navidea Biopharmaceuticals (AMEX:NAVB)
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