February 26, 2019 / 10:51 AM / 5 months ago

BUZZ-Neovasc: Announces stock offering, U.S.-listed shares drop

** U.S.-listed shares of Neovasc Inc slump 24.6 pct to 48 cents and are the most traded across U.S. exchanges among stocks trading before the bell

** The specialty medical device firm started a public share offering whose price and size were not disclosed

** It intends to use the net proceeds mainly to develop and commercialize the Neovasc Reducer, and develop the Tiara

** The Reducer is aimed at treating refractory angina, while the Tiara is intended to treat mitral valve disease

** In the year to Monday’s close, the stock has risen 4.5 pct, recouping a sliver of its 99 pct crash during 2018 (Reporting by Aaron Saldanha in Bengaluru)

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