Navidea Biopharmaceuticals, Inc (NYSE MKT:NAVB) Q2 2020 Earnings Conference Call - Preliminary Transcript

Aug 13, 2020 • 05:00 pm ET


Navidea Biopharmaceuticals, Inc (NYSE MKT:NAVB) Q2 2020 Earnings Conference Call - Preliminary Transcript


Loading Event

Loading Transcript


Greeting and welcome to Navidea Biopharmaceuticals' Q2 2020 Earnings and Business Update Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]. Please note, this conference is being recorded. I would now like to turn the conference over to your host, Mr. Jed Latkin, CEO. Thank you. You may begin.

Jed Latkin

Thank you Devon. First off, I just want to say that this call is being webcast live on our website and a replay will be made available. Following prepared remarks, we will be conducting a question-and-answer segment.

During the course of this conference call, we will be making forward-looking statements regarding future events and the future performance of the company. These events relate to our business plans to develop Navidea's molecular diagnostics and immunotherapeutics, which include clinical and regulatory developments and timing of clinical data readouts along with capital resources and strategic matters, as well as the impact of the COVID -19 pandemic on Navidea's business operations.

All of these statements are based on the beliefs and expectations of management as of today. These statements involve certain assumptions of risks and uncertainties and could cause actual results to differ materially. We assume no obligation to revise or update forward-looking statements, whether as a result of new information, future events or otherwise. Investors should read carefully the risks and uncertainties described within the Safe Harbor section of our website, as well as the risk factors included in the company's most recently quarterly and annual filing with the SEC.

I want to thank everyone for calling in for today's second quarter conference call. The past several calls, I have had relatively brief comments as I wanted the call to focus on the clinical developments and leave enough time at the end for Q&A. Today, my comments will be a little longer than normal due to the corporate activity that was announced on Monday.

A legacy of this company that I inherited was twofold. The ever promised golden partnership and the myriad existing contracts that didn't live up to their initial hype. Over the past almost five years, I have spent countless hours extricating Navidea from the web of agreements that either bound our products in profit limiting arrangements or prevented our future products from being partnered. I also spent countless hours slowly but surely trying to secure the right partnership for each of our future negations. I truly feel that what we announced on Monday is the right agreement for RA in North America and I want to go through step-by-step why I strongly feel this way.

I want to take several minutes to discuss the binding MOU that we signed this week. As I discuss this MOU, I will stress four key reasons why we have pursued this route with Jubilant and why you, as the owners of this company, should be more excited today for the future than you were on Sunday. I will also briefly discuss