logo-loader
TechHardware & electrical equipment
Neovasc

Neovasc shares soar after medical journal publishes positive study data on its heart treatment

The medical device company is developing the Reducer for the treatment of refractory angina, a debilitating heart condition that affects nearly 1.8 million people in the US alone.

heart in hand
The Reducer remained safe in the longer-term outcome with no device-related adverse events after two years

Neovasc Inc (TSE:NVCN) (NASDAQ:NVCN) saw its shares soar on Thursday after the International Journal of Cardiology published a peer-reviewed article confirming the long-term safety of the company’s angina therapy.

Based in Vancouver, the medical device company is developing the Reducer for the treatment of refractory angina, a debilitating heart condition that affects nearly 1.8 million people in the US alone.

Shares of Neovasc gained more than 47%, or C$0.30, to reach C$0.93 in Toronto before settling at C$0.63 by mid-Thursday, while it jumped nearly 43% in the US to sit at US$0.68.

READ: Ventripoint Diagnostics to bring its cardiac-imaging technology to France

In an article titled, “Safety and efficacy of Coronary Sinus Reducer implantation at 2-year follow-up,” the IJC highlighted a 50-patient study that found the Reducer remained safe in the longer-term outcome with no device-related adverse events.

Additionally, patients with the device maintained a reduction of angina symptoms and reported an improved quality of life after a two-year follow-up.

"This study shows us that the Reducer has a sustained therapeutic effect at two years across a large patient population,” said Professor Shmuel Banai, medical director of Neovasc.

“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."

Neovasc develops, manufactures and markets cardiovascular products including the Reducer, which is not currently commercially available in the United States. Also in its arsenal is the Tiara, for the transcatheter treatment of mitral valve disease, which is currently under clinical investigation in the United States, Canada and Europe.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Neovasc

Price: $5.28

Market: TSX
Market Cap: $39.5 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Alchemist sees big market in China for medical cannabis sales

Alchemist (CSE: AMS) CEO Paul Mann and Vice President of Business Development, Asia Pacific Johnson Lee joined Steve Darling from Proactive Vancouver to discuss Alchemist looking for opportunities for cannabis in the emerging cannabis market.  Mann and Lee talk about what the industry...

1 day, 8 hours ago

2 min read