Neovasc's stock shoots higher after submission of PMA for angina treatment [MarketWatch]
Neovasc Inc. - Common Shares (NVCN)
Last neovasc inc. - common shares earnings: 3/30 04:08 pm
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Source: MarketWatch
Neovasc's stock shoots higher after submission of PMA for angina treatment Shares of Neovasc Inc. NVCN, +8.56% shot up 79% in premarket trading Tuesday, after the medical device company said it submitted a premarket approval application (PMA) for its Neovasc Reducer, for the treatment of refactory angina. The company said the submission to the U.S. Food and Drug Administration includes a request for a meeting with an advisory panel. "This submission marks an important milestone in our effort to bring Reducer to the U.S. market, where it is estimated that there are up to 1.8 million patients with refractory angina," said Chief Executive Fred Colen. "These patients have traditionally had no options--they are either unsuitable for revascularization or continue to suffer with angina following revascularization procedures." The stock, on track to open at the highest price seen during regular-session hours since May 23, has lost 34.8% year to date through Monday, while the S&P 500 SPX,
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