Neovasc Inc (NASDAQ: NVCN) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced positive real-world data surrounding the Reducer. Of course, the positive data excited investors, sending the stock on a run for the top. 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 Announces Positive Data
As mentioned above, Neovasc is having an incredibly strong start to the trading session this morning after the company announced positive real-world data. In a press release issued early this morning, the comapny provided data from a 12-week follow up of the first U.S. patient implanted with its Reducer. The Reducer is a CE-marked medical device that was designed for the treatment of refractory angina. The patient implant took place under the Compassionate Use program in the United States in June of 2018.
In the release, NVCN said that the treating physicians have reported that prior to the procedure, the patient told the doctors that he could walk about two blocks before experiencing angina. The patient rated the angina a 7 to 8 out of 10 on the pain scale. The company said that the patient used nitroglycerin two or three times per week in order to alleviate the symptoms.
As of the follow up on August 12, 2018, the patient reported the ability to walk several miles without symptoms or a need to take nitroglycerin. In fact, the patient said that he only used nitroglycerine one to two times per month. Also, when discomfort was experienced on the rare bases, chest pain was rated between 3 and 4 out of 10. In a statement, Fred Colen, President and CEO at NVCN, had the following to offer:
The positive 12-week follow-up report provided on our first U.S. patient implanted with a Reducer under compassionate use is in line with the results from our clinical studies and the general European experience, as expressed in other medical publications. We are pleased that this patient was able to benefit from the Reducer therapy and is able to resume a more active and more normal life, with much less pain and discomfort.
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. In the case of NVCN, the news proved to be overwhelmingly positive. After all, the positive case study will likely act as a notch of validity for the company as it seeks US approval for the Reducer. So, it comes as no surprise that excited investors are sending the stock on a run for the top this morning. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:57), NVCN is trading at $2.90 per share after a gain of $0.66 per share or 29.11% 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 company’s continued efforts to receive FDA approval in order to commercialize the treatment in the United States. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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