- Neovasc (NVCN) has regained compliance with the Nasdaq minimum price requirement
- The company is still not in compliance with the minimum market value requirement
- Nasdaq Listing Rule 5550(b)(2) requires companies to maintain a minimum market value of US$35 million
- The company has until June 8, 2021, to meet the minimum market value requirement
- Neovasc Inc. is up 32.10 per cent to C$2.49 per share
Neovasc (NVCN) has regained compliance with the Nasdaq minimum price requirement.
Neovasc (NVCN) has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) pursuant to Nasdaq Listing Rule 5810 for continued listing on the Nasdaq.
However, the company is still not in compliance with the minimum market value requirement set forth in Nasdaq Rules for continued listing on the Nasdaq.
Nasdaq Listing Rule 5550(b)(2) requires companies to maintain a minimum market value of US$35 million. The company has until June 8, 2021 to regain such compliance.
The company is also listed on the Toronto Stock Exchange and regaining compliance on the Nasdaq does not affect its compliance status with the TSX.
Neovasc is a medical device company that develops, manufactures and markets products for the rapidly growing cardiovascular marketplace.
Its products include Reducer, for the treatment of refractory angina. While not commercially available in the United States, Reducer has been commercially available in Europe since 2015. Tiara, for the transcatheter treatment of mitral valve disease, is currently under clinical investigation in the United States, Canada, Israel and Europe.
Neovasc Inc. is up 32.10 per cent to C$2.49 per share.
