The New York Stock Exchange (NYSE) American, formerly known as the American Stock Exchange, has notified immunodiagnostics and immunotherapy drug developer Navidea Biopharmaceuticals that the company is not in compliance with the stock exchange's continued stock listing standards.
Navidea advised in a press release that the notice of noncompliance was issued due to a low price per share on the stock exchange for an extended period of time. To continue to be listed on the NYSE American, Navidea will need to demonstrate sustained price improvement or effect a reverse stock split by December 1. In the meantime, Navidea common stock continues to be traded on the NYSE American under the symbol "NAVB."
Navidea's stock was trading on Monday afternoon at 85 cents per share, down over 18% on the day.
