NeoVasc shares jump on 12-week Reducer data

Neovasc (NSDQ:NVCN) today saw shares jump after it released 12-week data from the first patient implanted with its Reducer device designed for treating refractory angina.

The Reducer system is designed to alter blood flow in the heart’s circulatory system to increase perfusion of oxygenated blood to ischemic areas of heart muscle, and can be placed in a minimally invasive transvenous procedure, the Vancouver-based company said.

The patient, implanted with the device in June as part of a compassionate use case, reported the ability to walk several miles without symptoms after having not been able to walk two blocks before experiencing painful angina prior to the implant. The patient also reported that they rarely experienced chest discomfort, with pain levels of between three and four on a 10 point scale.

“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,” prez & CEO Fred Colen said in a press release.

Shares in Neovasc rose approximately 18.7% today in response, closing at $2.67.

Last month, Neovasc said it plans to launch a 1-for-100 reverse stock split on Friday as it looks to meet the Nasdaq stock market’s minimum bid price requirement.

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