Neovasc Inc. (NASDAQ: NVCN) (TSX: NVCN) was featured in an April Research Report published by Channelchek. The report, titled, “Two Breakthrough Medical Technologies for Cardiovascular Markets,” details two Neovasc products, including Tiara for the transcatheter treatment of mitral valve disease and the Neovasc Reducer for the treatment of refractory angina. The report reads, “Neovasc is seeking FDA approval to commercialize the Reducer for the treatment of refractory angina in the United States. Patients suffering from refractory angina, a debilitating disease characterized by chronic chest pain, do not have any effective therapeutic options. The Reducer, commercially available in Europe, but not in United States, is a medical device designed to alleviate symptoms and improve heart functions.”
In addition, Neovasc recently reported financial results for the first quarter ended March 31, 2020. “First and foremost, our thoughts go out to all affected by the COVID-19 pandemic, and we thank the medical personnel and first responders working around the clock,” Neovasc CEO Fred Colen stated in the news release. “Neovasc had another solid quarter advancing its value creation strategies and continuing the turnaround of the business. We continued to focus on the commercialization of the Reducer in Europe, and the PMA submitted to the FDA for US market approval was accepted in January. We are pursuing the CE mark in Europe for the Tiara TA device, and we reached design freeze for our next generation transfemoral Tiara TF. On May 1 we received notice from the Nasdaq Hearings Panel that we have received an extension up until August 17, 2020 to evidence our compliance with the $35 million minimum MVLS requirement. We again thank our shareholders for their continued support. The building blocks we put in place during 2019 had begun to yield results in 2020 before the COVID pandemic markedly slowed Reducer implant volumes. We nevertheless believe that we will regain our momentum as hospitals resume elective procedures.”
To view the full press releases, visit http://nnw.fm/ku9aG and http://nnw.fm/63tmL
About Neovasc Inc.
Neovasc is a specialty medical device company that develops, manufactures, and markets products for the rapidly growing cardiovascular marketplace. Its products include Reducer, for the treatment of refractory angina, which is not currently commercially available in the United States and has been commercially available in Europe since 2015, and Tiara, for the transcatheter treatment of mitral valve disease, which is currently under clinical investigation in the United States, Canada, Israel and Europe. For more information, visit www.Neovasc.com.
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