Navidea Biopharma (NYSE: NAVB) reported Q1 EPS of ($0.05), $0.02 worse than the analyst estimate of ($0.03). Revenue for the quarter came in at $2.1 million versus the consensus estimate of $3.3 million.

The Company reiterates its 2015 Lymphoseek product revenue estimate of $10 million to $12 million. Additionally, margins on Lymphoseek product sales are expected to approach and possibly exceed 80% in the coming quarters. The Company also expects, following completion of the partnering activities for NAV4694, that cash operating expenses on a quarterly basis will continue to decrease to the point necessary for the Company to achieve its goals of cash flow breakeven from operations. This guidance excludes therapeutic-related research and development costs for the Manocept platform which are expected to be funded separately by Macrophage Therapeutics, Inc.

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