Ad blocking detected

Thank you for visiting We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Neovasc Inc. (T:NVCN)

Business Focus: Advanced Medical Equipment & Technology (NEC)

Sector:  Healthcare Industry:  Advanced Medical Equipment & Technology
See Regulatory Filings on SEDAR
Company Contact
Address: Richmond, 5138-13562 Maycrest Way
Tel: 1-604-2484138
IR: See website
Key People
Fred Colen
President, Chief Executive Officer, Director
Christopher Clark
Chief Financial Officer, Corporate Secretary
Bill Little
Chief Operating Officer
Lisa Becker
Vice President - Regulatory Affairs, Global Angina Therapies
Sarah Gallagher
Vice President - Clinical Affairs
John Panton
Chief Quality Officer
Business Overview
Neovasc Inc. is a Canada-based specialty medical device company. The Company develops, manufactures, and markets products for the cardiovascular marketplace. The Company is engaged in the development of minimally invasive therapies in cardiovascular care: refractory angina and mitral valve regurgitation. The Company's products include the Neovasc Reducer (Reducer), for the treatment of refractory angina, a painful and debilitating condition that occurs when the coronary vasculature delivers an inadequate supply of blood to the heart muscle; and the Tiara (Tiara), for the transcatheter treatment of mitral valve disease, which is under clinical investigation in the United States, Canada, Israel, and Europe. The Company operates through the development, manufacturing, and marketing of medical devices segment. Its wholly owned subsidiaries include Neovasc Medical Inc., Neovasc Tiara Inc., Neovasc (US) Inc., Neovasc Medical Ltd., B-Balloon Ltd., Neovasc GmbH, and Neovasc Management Inc.
Financial Overview
For the nine months ended 30 September 2022, Neovasc Inc revenues increased 32% to $2.4M. Net loss increased 46% to $27.4M. Revenues reflect Europe segment increase of 30% to $2.1M. Higher net loss reflects Unrealized gain on derivative liability decrease of 97% to $433K (income), Other expenses increase of 94% to $1.8M (expense). Basic Earnings per Share excluding Extraordinary Items decreased from -$7.24 to -$10.03.
Employees: 49 as of Dec 31, 2021
Reporting Currency: U.S. Dollars
Enterprise value: $51.49M as of Sep 30, 2022
Annual revenue (TTM): $4.16M as of Sep 30, 2022
EBITDA (TTM): -$35.18M as of Sep 30, 2022
Net annual income (TTM): -$44.86M as of Sep 30, 2022
Free cash flow (TTM): -$32.12M as of Sep 30, 2022
Net Debt Last Fiscal Year: N/A
Shares outstanding: 2,753,831 as of Jan 12, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization