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NAVB Oldtimers Lounge
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JMP Morning NoteNavidea gets the ball rolling to leverage its Manocept platform for the development of new arthritis Rx and Dx; we reaffirm our Market Outperform rating on Navidea Biopharmaceuticals and our $3 price target based on our DCF and NPV sum-of-the-parts analyses. Navidea Biopharmaceuticals (NAVB) announced the formation of a joint enterprise with Rheumco, LLC, an affiliate of Essex Woodlands, for the development of novel drugs and diagnostics targeting three unmet clinical needs: 1) detecting and treating rheumatoid arthritis; 2) detecting and treating human and veterinary osteoarthritis; and 3) treatment of the rare rheumatologic condition pediatric hemophilic arthropathy. The formation of the partnership to be known as R-NAV, LLC places Navidea at the center of a large opportunity to actively diagnose and treat a vast market of rheumatologic conditions. JMP Morning Note (pdf download) |
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