Neovasc (NSDQ:NVCN) shares have plummeted nearly 20% after saying it set aside $70 million to cover a loss in an ongoing patent battle with Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve Technologies in its 2nd quarter earnings release. The company said that both parties are pursuing post-trial motions, including an injunction from CardiAQ that would require Neovasc to cease Tiara […]
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Neovasc wins round in patent battle with Edwards Lifesciences subsidiary CardiAQ Valve
Neovasc (NSDQ:NVCN) last week won a round in its patent battle with Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve Technologies that’s already got it on the hook for some $70 million in damages. A federal jury in Massachusetts found earlier this month that Neovasc stole trade secrets and breached a non-disclosure agreement with CardiAQ in developing the Tiara transcatheter mitral valve replacement. Edwards inherited the lawsuit […]
Jury awards Edwards Lifesciences $70m in CardiAQ Valve spat with Neovasc
A federal jury in Massachusetts yesterday awarded $70 million to Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve Technologies in a patent infringement lawsuit after finding that Neovasc (NSDQ:NVCN) stole trade secrets and breached a non-disclosure agreement. The lawsuit, filed in June 2014 in the U.S. District Court for Massachusetts, accused Neovasc of using the misappropriated trade secrets to develop […]
Neovasc misses the Street with Q1 earnings, analysts remain positive
Neovasc (NSDQ:NVCN) today released 1st quarter 2016 earnings that fell short of the Street’s expectations in revenue and losses per share, though analysts remained optimistic about Tiara trial enrollment numbers. The company reported losses of $7.6 million, or 16¢ per share, on sales of $2 million for the 3 months ended March 31. That amounts to […]
Neovasc gains on Q4, 2015 results
Neovasc (NSDQ:NVCN) shares are up today after the replacement heart valve maker posted its 4th-quarter and 2015 results yesterday, despite wider Q4 losses on a nearly -25% sales decline. Vancouver-based Neovasc, which is looking to be the 1st to market with a transcatheter mitral valve implant, put up losses of -$7.4 million, or -11 per share, on sales […]
Neovasc wins FDA nod to expand Tiara TMVR trial
Neovasc (NSDQ:NVCN) said today that it won approval from the FDA to expand a clinical trial of its Tiara transcatheter mitral valve implant to include a larger valve size. Vancouver-based Neovasc said the federal safety watchdog approved the use of the 40mm Tiara device in its 30-patient Tiara-I early feasibility study, which was already approved […]
Neovasc squeaks by Q2, positive on Tiara trial
Neovasc (NASDAQ:NVCN) reported 2nd quarter sales ahead of estimates, though down from 2014 and marked by growing losses, but rallied around the progress of its Tiara transcatheter mitral valve implant feasibility trial. The company’s 30-patient Tiara 1 trial has 2 study patients implanted, in addition to 5 patients implanted through compassionate use regulations. Of the 3 compassionate […]
Trial delays, Q1 profit slide pushes Neovasc shares down
CardiAQ Valve claims European win in heart valve spat with Neovasc
CardiAQ Valve accuses Neovasc of stealing trade secrets for Tiara valve
UPDATED June 6, 2014, with comment from Neovasc.