Neovasc Inc (NASDAQ: NVCN) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced that its product was used in a “Live Case” broadcast at a key medical conference. 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 stock as a result; and
- what we’ll be watching for ahead.
NVCN Announces Live Case News
As mentioned above, Neovasc is having an incredibly strong start to the trading session this morning after the company announced news surrounding a live case broadcast. In a press release issued early this morning, the company said that its Tiara transcatheter mitral valve replacement devise was featured in a live case broadcast at the 32nd Annual European Association for Cardio-Thoracic Surgery Meeting (“EACTS 2018”), held October 18-20 in Milan, Italy.
In the release, NVCN said that the broadcast to the main arena of the conference featured Dr. Lenard Conradi and Dr. Ulrich Schaefer of University Medical Center Hamburg-Eppendorf. During the broadcast, the doctors successfully implanted in a 40mm Tiara transcatheter mitral valve in a patient that was suffering from severe mitral regurgitation.
In a statement, Fred Colen, President and CEO at NVCN, had the following to offer:
This live case broadcast reinforced Tiara’s potential as a promising treatment option for patients who are unsuitable to receive an open-heart surgical valve replacement… Attending physicians were able to see firsthand the simplicity of the minimally invasive, transapical transcatheter approach and resulting complete elimination of the patient’s MR. We look forward to continuing to expand our Tiara clinical program and ultimately the adoption of Tiara for routine use in these patients once regulatory approvals are obtained.
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. This live case broadcast was featured at a key medical conference in front of possible partners, investors, and other parties. So, it comes as no surprise that the news excited investors who are sending the stock on a run for the top. At the moment (8:41), NVCN is trading at $2.29 per share after a gain of $0.34 per share or 17.44% 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 with regard to the Tiara as it seems to be a very promising product. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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