Neovasc Inc (NASDAQ: NVCN) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The comapny announced that it’s product has officially been used in 100 implants in Germany. Of course, the news excited investors, sending the stock on a run for the top. Today, we’ll talk about:
- The news;
- what we’re seeing from NVCN as a result; and
- what we’ll be watching for ahead.
NVCN Announces 100th Patient Treatment In Germany
As mentioned above, Neovasc is having an incredibly strong start to the trading session this morning after the company announced that it has treated its 100th patient in Germany. In a press release issued minutes ago, the company said that a Neovasc Reducer™ has now been implanted in 100 patients in germany.
The reducer is a wire mesh that is implanted into a vein in the heart. The treatment is designed as an options for patients with refractory angina, a condition that ails a growing number of patients. In a statement, Fred Colen, President and CEO at NVCN, had the following to offer:
This important milestone in Germany was reached earlier than originally anticipated, thanks in large part to the Reducer being awarded NUB-status 1 earlier this year. With awareness of the Reducer therapy continuing to build among cardiologists, we are well on our way to tripling the number of implants in Germany for 2018 as compared to last year.
The above statement was followed up by Dr. Steffan Scnupp. Here’s what he had to say about the NVCN Reducer:
We see a growing number of patients presenting with refractory angina, despite optimal medical treatment and revascularization therapies. The Reducer therapy is a welcome option for these patients in my center.
Finally, Dr. Ashraf Salem, the doctor that implanted the 100th Reducer, had the following to offer:
We have treated over 25 patients with the Reducer and observe a high success rate. Ninety percent of our patients have reported a relief of symptoms and an improved quality of life.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of Neovasc, the news proved to be overwhelmingly positive. After all, the 100th patient implant has taken place successfully, further validating the Reducer as a quality medical product. So, it comes as no surprise that excited investors are sending the stock on a run for the top. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:37), NVCN is trading at $0.026 per share after a gain of $0.0014 per share or 5.67% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on NVCN. In particular, we’re interested in following the news surrounding the continued growth of the Reducer as a commercially available product in Germany and the expansion of the products regulatory approvals around the world. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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