NVCN - NVCN STOCK NEWS

Neovasc Inc. (NVCN) announced that it has regained compliance with Nasdaq's minimum bid price requirement, as per Listing Rule 5550(a)(2). After initially being notified of non-compliance on May 24, 2021, Neovasc was granted extensions to meet the $1.00 per share requirement. The company confirmed compliance following a closing bid price exceeding $1.00 for 10 consecutive business days from April 29 to May 12, 2022. This compliance only pertains to its Nasdaq listing and does not affect its status on the Toronto Stock Exchange.

Neovasc Inc. (NVCN) reported a 35% increase in Q1 revenue to approximately $611,000 compared to Q1 2021, marking a record for the first quarter. The company activated 6 sites and enrolled 21 patients in the pivotal COSIRA II IDE trial for the Neovasc Reducer™. Total expenses decreased by 33% to around $7.1 million, significantly driven by reductions in legal and underwriting fees. Operating losses were approximately $6.6 million, resulting in a loss per share of $3.75. As of the end of the quarter, cash reserves stood at approximately $44.2 million.

Neovasc Inc. (NVCN) will report its financial results for Q1 2022 on May 12, 2022. The call will feature CEO Fred Colen and CFO Chris Clark, starting at 4:30 PM EDT. Participants can join via phone or webcast, with the replay available shortly after. Neovasc develops specialty medical devices for cardiovascular treatment, notably the Reducer for refractory angina, available in Europe since 2015, and Tiara™ for mitral valve disease, currently under clinical investigation.

Neovasc Inc. announces a significant milestone with the publication of a case report in the European Heart Journal, highlighting the positive impact of its Neovasc Reducer™ on patients with refractory angina. The study demonstrates objective improvements in coronary blood flow in two patients after the Reducer implantation, with blood flow increasing from 100 to 148 mL/min and from 107 to 133 mL/min. The findings underscore the Reducer's potential benefits for patients who have limited options for relief from angina symptoms, enhancing the company's position in the cardiovascular market.

Neovasc has announced a share consolidation effective April 27, 2022, reducing its outstanding common shares from approximately 68 million to about 2.7 million. This consolidation, at a ratio of 1:25, aims to enhance the stock's per-share price, facilitating compliance with listing requirements on the Nasdaq and the Toronto Stock Exchange. Trading on a post-consolidation basis is set to begin on April 29, 2022. Shareholders will receive a letter of transmittal with instructions for exchanging their pre-consolidation shares.

Neovasc announced its participation in the 2022 Bloom Burton & Co. Healthcare Investment Conference on May 2-3, 2022. CEO Fred Colen will present on May 2 at 4:00 pm ET. The presentation can be accessed online, with a recording available for 90 days post-event. Neovasc specializes in medical devices for the cardiovascular market, including the Reducer for refractory angina and Tiara™ for mitral valve disease, currently under investigation in several regions. For more details, visit www.neovasc.com.

Neovasc Inc. (NASDAQ, TSX: NVCN) announced the results from its Annual General and Special Meeting of Shareholders on April 12, 2022. Key outcomes included the re-election of board members and a common share consolidation approved by 95.52% of votes. The directors re-elected were Steven Rubin, Paul Geyer, Doug Janzen, Norman Radow, Alexei Marko, and Fred Colen. The Company is focusing on its cardiovascular products, including the Reducer for refractory angina and the Tiara device for mitral valve disease, currently under investigation.

Neovasc Inc. (NVCN) announced the issuance of a $13 million convertible note under a Restated Securities Purchase Agreement with Strul Medical Group LLC. This note consolidates previous debts and is set to mature on December 31, 2025, with an interest rate of 9% per annum. A total of $290,961 in cash was paid for prior notes. The note is convertible into 15,674,184 common shares at a price of $1.00 each. This restructuring is expected to support Neovasc's cash requirements as it progresses its Reducer and Tiara product development.

Neovasc (NVCN) reported strong financial results for Q4 and fiscal year 2021, achieving record revenues of $759,000 in Q4, up 48%, and $2.55 million for the year, up 30% from 2020. The company also initiated the COSIRA-II IDE clinical trial for its Reducer device and expanded reimbursement in the US, UK, France, and Germany. Despite operating losses of $5.1 million in Q4, a decrease in total expenses by 41% to $5.67 million was noted. As of March 8, 2022, Neovasc plans to seek approval for a reverse stock split to comply with Nasdaq requirements.