Neovasc Inc. (NASDAQ: NVCN) rose after reporting positive 12-week follow-up data from the first U.S. patient implanted with a Neovasc Reducer. The patient reported improvement in walking abilities and decreased pain.
The Vancouver-based company is a specialty medical device company that develops, manufactures and markets products for the rapidly growing cardiovascular marketplace.
The company said Wednesday that treating physicians have reported that prior to the patient's procedure in June, he told his doctors he could walk about two blocks before experiencing angina, which he rated a seven-to-eight rating out of 10 on a pain scale.
He also used nitroglycerin two to three times per week to alleviate symptoms. At an August 12, follow-up appointment 12 weeks after the procedure, he reported walking 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 three or four rating out of 10.
Said CEO Fred Colen, "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.”
Shares vaulted 83 cents, or 37%, to $3.08 Wednesday morning.
