Radiopharmaceutical developer Navidea Biopharmaceuticals has released its third-quarter (end-September 30) financial results.
The company reported revenue of $400,000 for the quarter, compared with no revenue during the same period in 2012. Third-quarter revenue came from Lymphoseek sales and federal and state grants, the company said. Navidea also reported a net loss of $11.3 million for the third quarter of 2013, compared with $9.1 million in 2012.
For the nine months ending September 30, Navidea had revenue of $596,000, compared with $72,000 for the same period of 2012. Net loss was $28.9 million, compared with a net loss of $22 million for the same period a year ago.
Navidea received a unique Lymphoseek reimbursement code from the U.S. Centers for Medicare and Medicaid Services (CMS) on October 1 and expects further growth going forward.
