Neovasc Shares Up 24% On Positive Study Results Of Neovasc Reducer

(RTTNews) - Shares of Neovasc Inc. (NVCN) is up 24 percent after the company revealed positive data from 12-week study of the first U.S. patient implanted with a Neovasc Reducer, a medical device for the treatment of refractory angina.

"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," commented Fred Colen, Neovasc's President and Chief Executive Officer.

The patient reported he could walk several miles without any symptoms and taking nitroglycerin one or two times per month. He said he was rarely experiencing chest discomfort, and any chest pain was rated at a 3-4 out of 10.

Earlier, before the treatment, the patient had told doctors he could walk about two blocks before experiencing angina, which he rated a 7-8 out of 10 on a pain scale. He also used nitroglycerin two to three times per week to alleviate symptoms.

Refractory angina affects about 600,000 to 1.8 million Americans, with 50,000 to 100,000 new cases per year.

Shares Neovasc is currently trading at $2.75, up $0.50 or 22.44%, on the Nasdaq.