Neovasc Regains Compliance with Nasdaq Minimum Market Value Rule
February 24 2021 - 4:05PM
via NewMediaWire -- Neovasc Inc. ("Neovasc" or the "Company")
(NASDAQ, TSX: NVCN), has received written notification (the "Nasdaq
Notice") from the Nasdaq Stock Market LLC ("Nasdaq") informing the
Company that it has regained compliance with the minimum market
value requirement set forth in the rules for continued listing on
the Nasdaq Capital Market (the “Listing Rules”).
Neovasc received a letter from the Nasdaq in December 2020
notifying the Company that it was not in compliance with the
minimum market value requirement set forth in Listing Rule
5550(b)(2). The Nasdaq Notice confirms that the Company has
regained compliance with Listing Rule 5550(b)(2) pursuant to
Listing Rule 5810 as the Company's market value exceeded US$35
million for 14 consecutive business days between February 2, 2020
through February 22, 2020.
The Company is now in compliance with all previously announced
breaches of the Listing Rules.
About Neovasc Inc.Neovasc is a specialty
medical device company that develops, manufactures and markets
products for the rapidly growing cardiovascular marketplace. The
Company is a leader in the development of minimally invasive
transcatheter mitral valve replacement technologies, and minimally
invasive devices for the treatment of refractory angina. Its
products include Neovasc Reducer™, for the treatment of refractory
angina, which is not currently commercially available in the United
States and has been commercially available in Europe since 2015,
and Tiara™, for the transcatheter treatment of mitral valve
disease, which is currently under clinical investigation in the
United States, Canada, Israel and Europe. For more information,
visit: www.neovasc.com.
InvestorsMike CavanaughWestwicke/ICR Phone:
+1.646.877.9641Mike.Cavanaugh@westwicke.com
MediaSean LeousWestwicke/ICR Phone:
+1.646.677.1839Sean.Leous@icrinc.com
Forward-Looking Statement DisclaimerCertain
statements in this news release contain forward-looking statements
within the meaning of the U.S. Private Securities Litigation Reform
Act of 1995 and applicable Canadian securities laws that may not be
based on historical fact. When used herein, the words "expect",
"anticipate", "estimate", "may", "will", "should", "intend,"
"believe", and similar expressions, are intended to identify
forward-looking statements. Forward-looking statements may involve,
but are not limited to, expectations as to the growing
cardiovascular marketplace. Forward-looking statements are based on
estimates and assumptions made by the Company in light of its
experience and its perception of historical trends, current
conditions and expected future developments, as well as other
factors that the Company believes are appropriate in the
circumstances. Many factors could cause the Company's actual
results, performance or achievements to differ materially from
those expressed or implied by the forward looking statements,
including those described in the "Risk Factors" section of the
Company's Annual Report on Form 20-F and in the Management's
Discussion and Analysis for the three months ended September 30,
2020 (copies of which may be obtained at www.sedar.com or
www.sec.gov). These factors should be considered carefully, and
readers should not place undue reliance on the Company's
forward-looking statements. The Company has no intention and
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
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