Neovasc returns to compliance with Nasdaq minimum bid price rule



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VANCOUVER and MINNEAPOLIS, February 9, 2021 (GLOBE NEWSWIRE) – via NewMediaWire – Neovasc, Inc. (“Neovasc” or the “Company”) (NASDAQ, TSX: NVCN) announced today that it has received written notification from Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it has restored compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550 (a) (2) in accordance with the Nasdaq Rule Nasdaq listing 5810 for continued listing on the Nasdaq.

Currently, the Company is still not in compliance with the minimum market value requirement set out in the Nasdaq rules for maintaining listing on the Nasdaq. The Nasdaq 5550 (b) (2) listing rule requires companies to maintain a minimum market value of US $ 35 million; the Company has until June 8, 2021 to restore this compliance.

The Company is also listed on the Toronto Stock Exchange and re-establishment of Nasdaq compliance does not affect the Company’s compliance status with such listing.

About Néovasc inc.

Neovasc is a medical device company that develops, manufactures and markets products for the rapidly growing cardiovascular market. Its products include Reducer, for the treatment of refractory angina, which is currently not commercially available in the United States and has been commercially available in Europe since 2015, and Tiara, for the catheter treatment of the disease. of the mitral valve, which is currently the subject of a clinical study. in the United States, Canada, Israel and Europe. For more information, visit: www.neovasc.com.

Investors

Mike Cavanaugh

Westwicke / ICR

Telephone: +1.646.877.9641

[email protected]

Media

Sean leous

Westwicke / ICR

Telephone: +1.646.866.4012

[email protected]

Disclaimer Regarding Forward-Looking Statements

Certain statements in this press release contain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws which may not be based on historical fact. When used herein, the words “expect”, “anticipate”, “estimate”, “may”, “will”, “should”, “intend”, “believe”, and expressions similar, are intended to identify forward-looking statements. Forward-looking statements may involve, without limitation, beliefs and expectations regarding the need for the Company to re-comply with the Nasdaq minimum market value requirement in accordance with the Nasdaq 5550 listing rule (b ) (2) within the prescribed grace period and the growing cardiovascular market. Forward-looking statements are based on estimates and assumptions made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, market and other conditions as well as other factors that the Company deems appropriate under the conditions. Many factors could cause the Company’s actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements, including those described in the “Risk Factors” section of the Company’s annual report. the Company on Form 20-F and in the Management Report for the three and nine month periods ended September 30, 2020 (copies of which can be obtained at www.sedar.com or www.sec.gov). These factors should be carefully considered and readers should not place undue reliance on the Company’s forward-looking statements. The Company has no intention and assumes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise.

Source: Néovasc, Inc.


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