NYSE American LLC (“NYSE American” or the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of Navidea Biopharmaceuticals, Inc. (the “Company”) — ticker symbol NAVB —from the Exchange.
NYSE Regulation has determined that the Company is no longer suitable for listing pursuant to Section 1009(a) of the NYSE American Company Guide (the “Company Guide”) as the Company was unable to demonstrate that it had regained compliance with Sections 1003(a)(i), (ii) and (iii) of the Company Guide by the end of the maximum 18-month compliance plan period, which expired on July 28, 2023.
The Company has a right to a review of staff’s determination to delist the common stock by a committee of the Board of Directors of the Exchange (the “Committee”). Following such appeal, a decision by the Committee will be made and announced by NYSE Regulation regarding either proceeding with suspension and delisting or continued trading in the Company’s common stock. If the Company does not appeal this determination, NYSE American will announce the date that trading will be suspended. The filing of an application with the Securities and Exchange Commission to delist the common stock is pending completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.