NAVB - Navidea stock falls 13% after dismal Q4 results

Navidea (NAVB -13.0%) stock declined after Q4 revenue declined -77.04% Y/Y to ~$50K. FY21 revenue decreased -41.91% Y/Y to $0.53M. The company said the decline was mainly due to decreased grant revenue from the National Institutes of Health supporting Manocept development and fall in royalty and license revenue from sales of kidney imaging agent Tc99m tilmanocept in Europe. The company also reported higher costs. Research and development expenses rose to $1.4M, compared to $1.3M in Q4 2020. Selling, general and administrative expenses were $2.3M, compared to $1.7M in Q4 2020. Q4 net loss attributable to common stockholders widened to -$3.7M, compared to -$3M in the same period a year ago. Cash and cash equivalents were $4.2M at the end of Q4.

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Navidea stock falls 13% after dismal Q4 results