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 RICHMOND BC V6V 2J7 |
| Tel: | 1-604-2484138 |
| Website: | https://www.neovasc.com |
| 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 | |
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