Home Equities Score Why Did The Navidea (NAVB) Stock Soar 5% During Extended Trading?

Why Did The Navidea (NAVB) Stock Soar 5% During Extended Trading?

 Shares of Navidea Biopharmaceuticals soared 4.94% at the last check-in extended trading at $1.7. During the previous session, Navidea shares closed at $1.62, -1.22%, or -$0.02. The share price of NAVB stock fluctuated between $1.58 and $1.65 throughout the day. NAVB lost -36.22% in the last six months, and -34.94% in the last three months. In the absence of recent news, it is plausible that recent news may have contributed to the rise of NAVB stock.

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Biopharmaceutical company Navidea develops precision immunodiagnostics and immunotherapeutics. Several precision-targeted products are being developed based on NAVB’s Manocept platform to improve patient care by identifying sites and pathways of disease and enable more accurate diagnostics, targeted treatment, and improved clinical decision-making.

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An upcoming poster presentation of Navidea’s preclinical results of its targeted cancer immunotherapeutic agent will take place at the New York Academy of Sciences’s (NYAS) Frontiers in Cancer Immunotherapy Symposium in 2021.

It will take place virtually from Wednesday, May 12 until Friday, May 14, 2021, at 5:00 PM EDT. The poster will be titled:

“Targeted Delivery of Doxorubicin (DOX) to Tumor-Associated Macrophages (TAMs) Beneficially Alters the Tumor Immune Microenvironment and Synergizes the Activity of Anti-CTLA4.”

NAVB’s CD206-targeted therapeutic construct containing doxorubicin linked to its dextran backbone (Man-Dox) demonstrated synergistic effects on tumor growth inhibition with a standard immunotherapeutic in vitro and in animal models. CD206, a receptor on macrophages that binds mannose, is the cellular target of Navidea’s Man-Dox agent.

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Additionally,

TAMs that express CD206 are key regulators of the tumor microenvironment. This provides a target for immunotherapies by Navidea (NAVB) aimed at rallying the body’s own immune system against cancer.

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