Navidea Biopharmaceuticals (NAVB) puts up a pretty substantial top-line miss for Q3.
Lymphoseek sales for the period: $144K.
NAVB emphasizes a 600% Q/Q increase in unit dose sales and a "repeat-order rate of approximately 90%."
Cash as of September 30: $44.6M.
CEO Mark Pykett says the company is "seeing good momentum in many ... key parameters [including] multi-fold increases in unit sales Q/Q, a high frequency of repeat and multi-dose ordering, an increase in total accounts ordering, strong new user accrual, and encouraging formulary placement activity." (PR)
Navidea Biopharmaceuticals (NAVB) reports Lymphoseek sales of $128K including initial stocking at radiopharmacies. The figure looks woefully light versus the Street's consensus estimate of $366,667 in Q2 sales.
Product development costs for NAV4694 and NAV5001 resulted in a 76% Y/Y increase in R&D expense.
Cash and equivalents at quarter's end were $9.8M.
NAVB also says it is "formally closing its Phase 3 clinical study in subjects with head and neck cancer."