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(NEW YORK)— Neovasc Inc. (NASDAQ: NVCN), a leader in the development of minimally invasive transcatheter mitral valve replacement technologies, has been added to investor ‘watch list’ ahead of investor call scheduled for Thursday May 10th, 2018.
Ludlow Research, a small cap equity research firm based in New York City, recently issued alert on NVCN that recent trading patterns may indicate possible sharp spike in near-term future.
In their note to subscribers they mentioned how NVCN recent trading pattern may indicate conversion of prior debt into the market, but the high volume interest may be quickly clearing this debt off the books setting stage for possible sharp price spike upwards to potentially $0.10+ prior to call.
This doesn’t remove threat of reverse split to adjust price back above $1.00 to maintain NASDAQ listing standards, but in short-term could provide for an interesting and liquid play among traders.
– Implanted an additional six Tiaras™ (“Tiaras”) since March 28, 2018 to bring the total to 56
– Continuing progress on the Tiara transfemoral, trans-septal program
– Additional publications and presentations supporting Neovasc Reducer™ (“Reducer”) efficacy
– Received additional US$4.7 million in proceeds from investor-initiated exercises of Series C warrants (the “Series C Warrants”) issued pursuant to the November 2017 underwritten public offering (the “2017 Public Transaction”)
– Reports 1,681,060,920 common shares of the Company (“Common Shares”) issued and outstanding as at the date hereof
– Continuing efforts to right-size the Company’s capital structure
– Continuing efforts to resolve legal matters and strengthen intellectual property portfolio
The Company has completed six Tiara implants since March 28, 2018, the date of its last update; four for the Tiara-II study in Europe (“TIARA-II”) and two for the Tiara-I study in Canada (“TIARA-I”). The apical in/out procedure time for these most recent four TIARA-II implants were 9 minutes, 9 minutes, 10 minutes and 12 minutes, respectively. For the two recent TIARA-I implants, they were 11 minutes and 45 minutes (mainly due to challenging echo imaging quality). To date, a total of 56 patients have been implanted with the Tiara. The 30-day survival rate remains at 90% overall and is at 92% for the TIARA-II study.
Furthermore, the Company remains on schedule for the first, small animal feasibility study for the transfemoral, trans-septal Tiara version in the first half of May 2018.
NVCN has caught the attention of traders with trading volume of 100 million+ on stock trading just around $0.05 per share. The Company is expected to hold an investor call on Thursday May 10th, and based on extremely high retail volume this could be an event to watch for sure.
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