Neovasc Inc (NASDAQ: NVCN) is having a great start to the trading session this morning, and for good reason. The company announced a court ruling that proved to be in its favor.
As you could imagine, the news excited investors, pushing the stock to the top. Today, we’ll talk about:
- The court ruling;
- what we’re seeing from NVCN stock as a result; and
- what we’ll be watching for ahead.
NVCN Announces Court Ruling
As mentioned above, Neovasc is having an incredibly strong day in the market today after announcing a court ruling. The announcement came this morning through a press release.
In the release, the company said that the Higher Regional Court in Munich, Germany, provided its ruling on an appeal by the company. The appeal surrounded a case brought by Edwards Lifesciences CardiAQ LLC.
NVCN said that the court has decided to dismiss the case brought against the company. Originally, the case CardiAQ claimed to hold full ownership rights of the company’s patent application for a European patent surrounding Tiara.
In the dismissal, the German court found that CardiAQ had not contributed to the invention of the Tiara. As a result, the court found that Neovasc was the rightful inventor and owner of all rights disputed surrounding the European patent application for the product.
In a statement, Fred Colen, CEO at NVCN, had the following to offer:
We are pleased that after full consideration of the evidence, the German courts have now recognized that CardiAQ made no contribution to the invention or development of the Tiara. With this decision, which we strongly believe would be confirmed, even if appealed to and accepted as a case by the German Supreme Court, Neovasc is free to pursue its European patent application and has the sole right to commercialize the Tiara in Europe and help treat patients suffering from debilitating mitral valve disease. We will continue to vigorously defend our intellectual property against any attempts by third parties to infringe on these rights.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. When it comes to Neovasc, the news proved to be overwhelmingly positive.
After all, investors like to see that the companies that they invest in can protect their intellectual property. The ruling that was announced this morning is a shining example of the strength of the company’s IP protection.
Considering that, it’s not surprising to see that the stock is running for the top as investor excitement takes hold. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:46), NVCN is trading at $0.52 per share after a gain of $0.059 per share or 12.92% 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 company’s continued work to bring its Tiara and Reducer products to market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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