PRPH - ProPhase Labs says offer to buy Navidea assets rejected
2023-06-29 09:40:49 ET
- ProPhase Labs ( NASDAQ: PRPH ) said Thursday it recently made an unsolicited non-binding offer to acquire certain assets from Navidea Biopharmaceuticals ( NAVB ), which was rejected .
- Navidea ( NAVB ) did not make a counteroffer nor did it seek to engage in any discussions with Prophase ( PRPH ).
- ProPhase ( PRPH ) offered to buy a portion of Navidea's ( NAVB ) assets for either $7M in cash or $9.1M, if paid in PRPH shares.
- The offer would have left Navidea ( NAVB ) with its other assets such as current and future milestone payments, the majority of its therapeutic assets, cardiovascular products, and any territories Lymphoseek assets are already committed to.
- In early trade, ProPhase ( PRPH ) -0.5% and Navidea ( NAVB ) -2% .
- Now read - ProPhase Labs Continues To Make The Right Moves
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ProPhase Labs says offer to buy Navidea assets rejected