Alseres, Navidea deal

Navidea elected to extend to July 31 from June 30 its option to license exclusive, worldwide rights to imaging agent Altropane from Alseres. The decision triggers a $250,000 payment to Alseres. Under the terms of the license, if Navidea exercises the option, Alseres will receive 400,000 shares of Navidea common stock and would be eligible for $3 million and about 1.1 million shares in milestone payments, plus royalties. The 400,000 shares are valued at $1.1 million based on Navidea's close of $2.70 on Jan. 25, before the deal was announced (see BioCentury, Jan. 30). ...