Neovasc shares jump after medical journal publishes favorable article about its Tiara valve

Shares of Neovasc Inc (NASDAQ:NVCN) are still up slightly on the recent publication of a favorable article about its Tiara valve in the medical journal Circulation.

The article reports for the first time on the experience of transcatheter mitral valve replacement using Neovasc’s Tiara valve in 12 patients with previous aortic valve replacement.

In response, Neovasc shares nudged up 1.6% to $2.48 in Tuesday’s afternoon trading session.

Not yet commercially approved, The Tiara is a new transcatheter device that treats mitral regurgitation, a heart condition that is often severe and can lead to heart failure and death.

READ: Neovasc shares soar on rosy data from first American to use its device to control angina

The Tiara is implanted in the heart using a minimally-invasive approach without the need for open-heart surgery or use of a cardiac bypass machine.

The article concluded that the Tiara valve was implanted “uneventfully” in all patients and none of those participating in the study required conversion to open-heart surgery or other support. The success of the procedure was 100% after 30 days, with mitral regurgitation being eliminated in all 12 patients immediately after receiving the implants.

“Transapical mitral valve replacement with the Tiara valve in high-risk patients with severe mitral regurgitation and aortic valve prostheses is technically feasible and can be performed safely,” the study concluded.

The Tiara is currently being evaluated in two ongoing investigational clinical trials. Tiara 1 is an early feasibility trial being orchestrated in the US, Canada and Belgium. Tiarra II is a European trial being held in Germany, Italy and the United Kingdom. Patients have also been treated under compassionate programs in Canada, Italy, Germany, Israel and Switzerland, Neovasc said.

Based in Vancouver, Canada, Neovasc is a specialty medical device company specializing in developing products for the heart. Its Neovasc Reducer treats refractory angina and has been commercially available in Europe since 2015. Tiara, meanwhile, is currently under clinical investigation in the US, Canada and Europe.

Contact Ellen Kelleher at [email protected]

Story by ProactiveInvestors