NAVB - Navidea gets notice on listing noncompliance; settles Platinum lawsuit

Navidea Biopharmaceuticals (NYSE:NAVB) announced on Thursday that it received a letter from the NYSE American stating that the company has failed to comply with the continued listing standards of the stock exchange. The company is required to submit a plan on regaining compliance by Feb. 27, and if it fails to do so or the plan is not accepted, the delisting process will begin. Even if the plan is accepted, the company will be subject to periodic review by the Exchange while it is listed. The management plans to submit a plan of compliance before the deadline, Navidea (NAVB) said. Meanwhile, the company has reached a settlement in relation to its litigation with Platinum-Montaur Life Sciences, which had previously demanded ~$1.9M in damages plus interest as part of a lawsuit. On Jan. 13, the parties have reached a Joint Settlement, Release, and Confidentiality Agreement, following which Platinum had agreed to

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Navidea gets notice on listing noncompliance; settles Platinum lawsuit