Revenue Update on Neovasc Inc (US)(NASDAQ:NVCN)

Neovasc Inc (US)(NASDAQ:NVCN) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 9, 2016. Company reported revenue of $1.71M. Analysts estimated a revenue of $2.40M. Earnings per share were $-1.25. Analysts had estimated an EPS of $-0.13.

In a different note, On May 20, 2016, Ladenburg Thalmann said it Downgrades its rating on Neovasc Inc (US). The shares have been rated ‘Neutral’ by the firm.

Neovasc Inc (US) (NVCN) shares turned negative on Wednesdays trading session with the shares closing down -0.0216 points or -3.56% at a volume of 9,68,353. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $0.6353. The peak price level was also seen at $0.6353 while the days lowest was $0.5719. Finally the shares closed at $0.5855. The 52-week high of the shares is $6.57 while the 52-week low is $0.37. According to the latest information available, the market cap of the company is $39 M.

Neovasc Inc. is a specialty medical device company. The Company develops manufactures and markets products for the cardiovascular marketplace. Its products include the Tiara technology in development for the transcatheter treatment of mitral valve disease the Reducer for the treatment of refractory angina and a line of advanced biological tissue products that are used as key components in third-party medical products including transcatheter heart valves. Its Tiara is a product for treating mitral valve disease. The Tiara is in preclinical/early clinical stage development to provide an invasive transcatheter device. The Tiara valve is made up of two components: the leaflets and skirt. It produces Peripatch a biological tissue product that is manufactured from pericardium which is the protective sac that surrounds the heart of an animal. It provides product development and specialized manufacturing services related to Peripatch tissue-based products.

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