Navidea Pharmaceuticals Inc. Analyst Report: Long Term Market Potential of Lymphoseek does not Justify Current Valuation by BrokerBank Securities, Inc.
NEW YORK, April 11, 2014 /PRNewswire/ -- Navidea Pharmaceuticals, Inc. (NYSEMKT: NAVB), is a biopharmaceutical company that is focused on the development and commercialization of precision diagnostics and radiopharmaceutical agents. Its core product, Lymphoseek, a small-molecule radiopharmaceutical used in lymphatic mapping procedures, helps physician identify and target the lymph nodes that drain from a primary tumor that contain cancer cells.
The U.S. Food and Drug Administration, in March 2013 approved the use of Lymphoseek in lymphatic mapping to assist in the localization of lymph nodes draining a primary tumor in patients with breast cancer or melanoma. Subsequently, the company, and its partner, Cardinal Health Inc.'s Nuclear Pharmacy Services division, launched Lymphoseek in the United States in May 2013.
Navidea expects to receive approval for using Lymphoseek in additional indications in U.S, including head and neck cancer, later in the year. The company also anticipates that it will obtain approval sell the product in Europe in 2014 and, then launch it in the major European markets in 2015.
These potential positive regulatory milestones do not alter the basic belief that Lymphoseek is a "niche product" whose potential is more than limited than what is being projected by the sell-side analyst community. The analyst report will provide further information with respect to the anticipated potential of Lymphoseek as well as discuss the key attribute of the product, provide an overview of the company, and review financial results for fiscal 2013. There is no cost required to view this report:
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