If you are currently looking into the possibility of investing in biopharmaceutical stocks, then it could be the right time to look into the Navidea Biopharmaceuticals Inc (NYSEAMERICAN:NAVB) stock. It had emerged as one of the major gainers yesterday and ended up with gains of as much as 24% amidst heavy interest.
Trading Data
On Monday, NAVB stock soared 23.20% to $0.8870 with more than 1.78 million shares, compared to its average volume of 62k shares. The stock moved within a range of $0.8801 – 1.0700 after opening trade at $0.89.
Navidea Biopharmaceuticals Announces Research Agreement with the University of Pennsylvania Evaluating Tc99m Tilmanocept as a Prognostic Marker for Glioblastoma
The stock came into sharp focus yesterday after it announced that it had inked a Sponsored Research Agreement with the prestigious University of Pennsylvania. The company is going to collaborate on a project with the university in which the effect of Tc99m tilmanocept imaging for tackling glioblastoma as a prognostic agent.
It is a major new development for the company and hence, it was perhaps not a surprise that the Navidea stock experienced a strong rally yesterday.
At this point in time, it remains to be seen if the stock can manage to hold on to its momentum over the course of the week and eventually add to its gains in the coming days. It may be a good time for investors to add the Navidea stock to their watch lists and watch out for the further developments in the coming weeks.
Key Quote
Dr. Michael Rosol, Chief Medical Officer for Navidea, said, “We are pleased to sponsor this important work with Dr. Nabavizadeh at Penn. This is another in a line of research collaborations we have had with the highest level of researchers at top tier institutions.” Dr. Rosol continued, “Today’s announcement exemplifies the broad reach of our tilmanocept platform. The development of applications of Tc99m tilmanocept as a prognostic biomarker in cancers could have far-reaching implications for monitoring patient treatment and making decisions about therapeutic benefit. We are excited to continue to develop new and valuable applications for our core technology.”
Technical Data
NAVB stock is trading below the 20-Day and 50-Day Moving averages of $0.98 and $1.10 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.53.
