Here's Why Navidea Biopharmaceuticals Surged 25%

Shares of Navidea Biopharmaceuticals Inc (NYSE: NAVB) surged higher by more than 25 percent on Friday after the company provided investors with a business update.

Navidea said recent strategic changes to its corporate structure has given itself an "opportunity to refocus its efforts" and develop that "takes maximum advantage" of its Manocept macrophage targeting technology for immunodiagnostic and immunotherapeutic applications.

The company continued that Lymphoseek represents the first of many potential products that can be developed with the technology. In fact, while Lymphoseek is already approved in the U.S. and Europe to guide sentinel lymp node biopsy in breast cancer, the company is exploring additional immunodiagnostic uses including rheumatoid arthritis.

In order to achieve the company's "ambitious" goals, the company will focus on right-sizing its expenses to current revenues.

In addition, Navidea added it will present an update on the "very significant" progress that has occurred at its immunotherapeutic-focused subsidiary, Macrophage Therapeutics. The company expanded that over the past six months it has been successful in developing new chemical synthetic processes for the synthesis of the first two therapeutic products.

"These compounds have appropriate purity and have demonstrated high affinity binding to the CD206 (mannose receptor) target," the company expanded.

Finally, Navidea said it has completed several animal studies with its anti-inflammatory compound and is also in the process of initiating several animal invivo tumor model studies.

Navidea will host a conference call with investors on Monday, April 18 at 4:30 p.m. ET in which a "substantial" portion of the call will be devoted to a Q&A session.