October 3, 2018 / 3:13 PM / 2 years ago

BUZZ-Neovasc: Surges on positive data from first patient in U.S. trial

** U.S.-listed shares of Canadian medical device maker jump 29 pct to $2.91 on positive data from first U.S. patient implanted with co’s Neovasc Reducer, used to treat refractory angina

** Stock among top pct gainers across U.S. exchanges

** Patient found to have been able to walk several miles, reduce usage of nitroglycerine for chest pains, and experience lesser chest discomfort, according to data obtained 12 weeks after using NVCN’s device

** Refractory angina is a chronic condition characterized by debilitating chest pain and is estimated to affect 600,000-1.8 mln Americans

** NVCN rose ~15 pct on getting U.S. FDA approval to start trial for Reducer device last Nov.; device was launched in EU in 2015

** More than 4.6 mln shares traded, 8x their 25-day moving avg

** Despite Wednesday’s early gains, stock down 95 pct this year (Reporting by Saumya Sibi Joseph in Bengaluru)

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