Navidea Shares Gain After Terminating Stock Purchase Agreement

Navidea Biopharmaceuticals Inc NAVB has terminated the Stock Purchase Agreement executed on August 30, 2020.
The investors agreed to purchase up to $25.0 million in shares of Navidea. The initial closings were to occur within forty-five (45) business days.
The investors agreed to purchase an aggregate of 1 million shares at $5.00 per share.
To date, the Company has received only $25,000 of the $5.0 million that was due at the initial closing.
On Tuesday, the Company notified the Investors that it was terminating the Stock Purchase Agreement.
In a separate release, Navidea achieved full enrollment in its NAV3-35 Phase 2b study to complete the healthy subject (normative) database supporting the Company's Rheumatoid Arthritis imaging commercial product development.
The trial has two arms, with Arm 1 designed to acquire hand and wrist planar images from healthy subjects injected with Tc99m tilmanocept.
Arm 2 is a pilot feasibility study to examine the potential of three-dimensional SPECT/CT imaging of the hands and wrists of healthy subjects and patients with RA injected with Tc99m tilmanocept.
Price Action: NAVB shares are up 8.62% at $1.26 during the premarket session on the last check Thursday.