Navidea receives acceptance letter from NYSE American
As previously disclosed, on August 14, 2018, Navidea Biopharmaceuticals, Inc. received a notification from the NYSE American LLC stating that Navidea was not in compliance with Section 1003aii and Section 1003fv of the NYSE American continued listing standards, which relate to stockholders' equity and the selling price per share of the company's securities. As required by the NYSE American, Navidea submitted a plan to the NYSE American by September 14, 2018 advising of actions it has taken or will take to regain compliance with the continued listing standards by February 14, 2020. On October 25, 2018, the company received a notification from the NYSE American that the company's plan to regain compliance was accepted. The Acceptance Letter also stated that the NYSE American had inadvertently omitted an additional deficiency from the Deficiency Letter. Specifically, the Deficiency Letter should have stated that Navidea is not in compliance with Section 1003aiii of the NYSE American Company Guide, which requires an issuer to have stockholders' equity of $6M or more if it has reported losses from continuing operations and/or net losses in its five most recent fiscal years. The Acceptance Letter noted that Navidea had stockholders' equity of $2.1M as of June 30, 2018, and has reported losses from continuing operations and/or net losses in its five most recent fiscal years ended December 31, 2017, and its shares have been selling at a low price per share.