Radiopharmaceutical developer Navidea Biopharmaceuticals has raised $5.1 million in an underwritten sale of common stock.
The purchasers are J.P. Morgan Asset Management and one other institutional investor, both of which participated in a similar transaction in early February, according to Navidea.
The net proceeds of the financing will be used to fund Navidea's ongoing operations. The sale is expected to close on or near April 29, subject to the satisfaction of customary closing conditions, Navidea said.
