Why Navidea Biopharmaceuticals Shares Are Nosediving

Navidea Biopharmaceuticals Inc NAVB shares are trading lower by 18.5% to $0.08 after the company announced NYSE American has commenced delisting proceedings and the company intends to appeal.

Navidea's Board of Directors plans to appeal the decision. During the appeal, the common stock will continue to be listed and traded on NYSE American.

The company says there can be no assurance that Navidea's request for continued listing will be granted.

If delisted, Navidea intends to quote its common stock in the over-the-counter market.

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According to data from Benzinga Pro, NAVB has a 52-week high of $0.65 and a 52-week low of $0.07.