Neovasc Inc (NASDAQ: NVCN) is seeing overwhelming gains in value early this morning, and for good reason. In the afterhours session yesterday, the comapny announced new data surrounding its Reducer product. Today, we’ll talk about:
- The data;
- what we’re seeing from NVCN stock as a result; and
- what we’ll be watching for ahead.
NVCN Gains On Reducer Data
As mentioned above, Neovasc is having a great day in the market today after announcing that it has published new data. The announcement came by way of press release in afterhours yesterday.
In the release, NVCN said that the International Journal of Cardiology has published a peer reviewed article regarding long term sustained efficacy and safety of the Reducer therapy. The data came from 50 patients suffering from refractory disabling angina. The publication was titled, “Safety and efficacy of Coronary Sinus Reducer Implantation at 2-year follow-up.”
Ultimately, the data show that the Reducer remains safe in the long-term with no evidence of adverse events after 2 years. Also, the reduction of angina symptoms and improvement of quality of life observed after Reducer were maintained throughout the period.
In a statement, Professor Shmuel Banal, Medical Director at NVCN, had the following to offer:
This study shows us that the Reducer has a sustained therapeutic effect at two years across a large patient population. In addition, we believe this study provides valuable long-term safety data that further supports cardiologists use of the Reducer as a therapeutic option for patients suffering from refractory angina.
This data supports our belief that the Reducer offers refractory angina patients a safe and effective treatment option, filling a void in a market where there are currently limited therapeutic options.
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. When it comes to Neovasc, the news proved to be incredibly positive.
After all, the strong data after 2 years will further support the potential approval of the treatment. Should the Reducer be approved, it will open the door to significant revenue, returning value to investors.
So, it’s not surprising to see that excited investors are pushing the stock for the top in the market this morning. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:50), NVCN is trading at $0.65 per share after a gain of $0.18 per share or 37.87% 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 story surrounding the Reducer as the product seems to be yielding promising results. Nonetheless, we’ll keep a close eye on the story and bring the news to you as it breaks!
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