Neovasc (NSDQ:NVCN) said today that it raised more than $7 million in a warrants offering. Vancouver-based Neovasc said the offering, of nearly 4.9 million Series C warrants at an exercise price of $1.46 apiece, resulted in gross proceeds of $7.1 million. “This receipt into treasury is significant. We believe it is sufficient to substantially fund the […]
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NeoVasc shares tumble on 2017 earnings release, sales slide nearly 50%
Shares in Neovasc (NSDQ:NVCN) have fallen nearly 50% today after the structural heart device maker posted shrinking sales in its 2017 earnings release and updated on progress with its investigational Tiara mitral valve replacement. The Vancouver-based company posted losses of $22.9 million, or 28¢ per share, on sales of $5.4 million for the full 2017 year, […]
Neovasc wins German reimbursement for Reducer system
Neovasc (NSDQ:NVCN) said today that it won reimbursement coverage from the German Institute for the Hospital Renumberation System for its Reducer device designed to treat refractory angina. The Reducer system is designed to alter blood flow in the heart’s circulatory system to increase perfusion of oxygenated blood to ischemic areas of heart muscle, and can be placed […]
Neovasc taps former Boston Scientific CRM vet Colen for CEO | Personnel Moves January 22, 2018
Neovasc (NSDQ:NVCN) said today it tapped former Boston Scientific (NYSE:BSX) cardiac rhythm management lead Fred Colen as its new chief executive officer, with former CEO Alexei Marko staying on as an advisor and member of the company’s board of directors. The move comes as part of a company-wide strategy looking to support commercialization efforts for its Reducer […]
Neovasc ticks up on Tiara valve update
Neovasc (NSDQ:NVCN) today reported low leak rates in the clinical program for its Tiara mitral valve replacement and a 30-day all-cause mortality rate of nearly 10%. Vancouver-based Neovasc said 47 patients have been implanted with the Tiara transcatheter mitral valve replacement using a roughly 20-min. procedure, with 42 reaching the 30-day mark. The all-cause mortality rate […]
Neovasc raises $65m to cover damages in CardiAQ case
Neovasc (NSDQ:NVCN) said today it closed an offering of approximately $37.5 million and a private placement of approximately $27.8 million to cover the roughly $42 million balance of damages and interest in a litigation with Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve. In its offering, Neovasc offered approximately 6.6 million Series A units and 19.1 million Series B units at a […]
Neovasc shares fall on Q3 sales miss
Shares in Neovasc (NSDQ:NVCN) have risen in early morning trading today after the medical device maker posted 2nd quarter earnings that beat the Street on losses per share but missed on sales. The Vancouver-based company posted losses of $5.8 million, or 6¢ per share, on sales of $1.4 million for the 3 months ended September 30, […]
Neovasc looks to raise $65m to cover trade secret ruling, trials
Neovasc (NSDQ:NVCN) said last week that it’s looking to raise more than $65 million in a stock offering and a private placement as it seeks to come up with a $42 million shortfall stemming from its trade secret spat with Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve. A jury in May 2016 awarded $70 million to CardiAQ after finding that Neovasc misappropriated trade secrets […]
Neovasc surges on news of appeal, FDA nod for clinical trial
Neovasc (NSDQ:NVCN) shares surged today in pre-market trading after the replacement heart valve maker said it’s exhausted the appeals process in its trade secret spat with Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve and that it won an FDA nod for a clinical trial. A jury in May 2016 awarded $70 million to CardiAQ after finding that Neovasc misappropriated trade secrets in developing […]
Neovasc shares rise on Tiara transcath mitral valve trial update
Neovasc (NSDQ:NVCN) today updated on the clincial study of its Tiara self-expanding transcatheter mitral valve bioprosthesis designed to treat mitral regurgitation, touting 31 successful implants and a 12.1% rate of 30-day mortality. The Vancouver-based company said that to date 34 patients have been treated with the Tiara at 10 centers globally, with a technical implantation success […]
NeoVasc shares surge 45% on affirmed Tiara patent case decision against Edwards
UPDATE: Updated to include comment from Edwards Lifesciences Neovasc (NSDQ:NVCN) saw its shares jump 45% today after a federal appeals court upheld a district court ruling in a trade secret spat with Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve, affirming a decision not to enjoin its Tiara program. With the decision, Neovasc will be required to pay the full […]