{"id":391983,"date":"2020-12-02T12:03:12","date_gmt":"2020-12-02T17:03:12","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=391983"},"modified":"2020-12-02T12:03:12","modified_gmt":"2020-12-02T17:03:12","slug":"glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-neovasc-inc-nvcn-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-neovasc-inc-nvcn-2\/","title":{"rendered":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Neovasc Inc. (NVCN)"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"both\">LOS ANGELES, Dec.  02, 2020  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=9x9iVj7T-zlBY8wDH00-QAdn2EtGIozIrRu0-Sfi4VqcWYdIAmma6M3fRMVfrEij31cqv86ujMvPLxBWU8FshcEk5x1VaJdn7XTWO7Ysbe0=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Glancy Prongay &amp; Murray LLP<\/a> (\u201cGPM\u201d) reminds investors of the upcoming\u00a0<strong>January 5, 2021<\/strong><strong>\u00a0<\/strong>deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Neovasc Inc. (\u201cNeovasc\u201d or the \u201cCompany\u201d) (NASDAQ: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=I0K27hEtTmUs9Q-c-RBC8rWKmbUbdB29QJQOCmekKHXfA7xy9zudjI7HFdtYKiEMQwH7bXL3hQIzLtE04Vbl6g==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">NVCN<\/a><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=4t8BYuW_v7BajR3DDKWnczGbmjc1nnd6W_y14WG61mGZSpVIFuNYPIE3RyirzDHRikzypNePoAPfFinEeILL8g==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">)<\/a> securities between <strong>October 10, 2018<\/strong><strong> and October 27, 2020<\/strong>, inclusive (the \u201cClass Period\u201d).<\/p>\n<p>If you suffered a loss on your Neovasc investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=qbsQSszf1gr57CIsz6xLewrQgz2kX6cnfk7rRTJ77g4PHWrEqfMuffc7WfsxaKIQEc9CW7WYeJIzfLKXvhI2MYMYOXAOZ9XSq9L_M47yiO63kXhUsq7pN38sSrOQMfTtA5zB9paCTKnjBjw4EUpkiw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.glancylaw.com\/cases\/neovasc-inc\/<\/a>. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=9uLohHdyaqF8y5wwMEAawEN5imaASUjbXa4X0kl1RLVzvgSkAjeyxoVZApmH9A6t1PyozDzSJZZMg9oUD5PqUQiJtPvB0B2BbyD4gQdWQ8lhAbQxK3VAeeGhL_GgQi6A\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a> to learn more about your rights.<\/p>\n<p>Neovasc is a specialty medical device company that develops, manufactures and markets products for cardiovascular diseases, including the Tiara technology and the Reducer. The Company\u2019s Reducer is a medical device that treats refractory angina by altering blood flow in the heart\u2019s circulatory system.<\/p>\n<p>In December 2018, the Company filed a Q-Sub submission to the U.S. Food and Drug Administration (\u201cFDA\u201d) that contained safety and efficacy results from Neovasc\u2019s clinical studies, as well as supporting data from peer-reviewed journals.<\/p>\n<p>On February 20, 2019, Neovasc announced that, despite \u201cBreakthrough Device Designation,\u201d the FDA review team recommended that the Company collect further pre-market blinded data prior to submitting a Pre-Market Approval (\u201cPMA\u201d) application.<\/p>\n<p>On November 1, 2019, the Company announced that it would submit a PMA application for the Reducer without gathering further evidence, against the FDA\u2019s recommendation. Neovasc claimed that \u201cthe clinical evidence already available will be sufficient to not further delay the availability of this Breakthrough medical device for the treatment of U.S. patients.\u201d<\/p>\n<p>On October 28, 2020, before the market opened, the Company announced that an FDA advisory panel voted overwhelmingly against the safety and effectiveness of the Reducer. The panel noted concerns with the Company\u2019s clinical data, including \u201cthat the lack of blinding assessment made the primary endpoint difficult to interpret.\u201d As a result, the panel reached a consensus \u201cthat additional premarket randomized clinical data was necessary.\u201d<\/p>\n<p>On this news, the Company\u2019s share price fell $0.77, or 42%, to close at $1.06 per share on October 28, 2020, on unusually heavy trading volume.<\/p>\n<p>The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the results of COSIRA, Neovasc\u2019s clinical study for the Reducer, contained imbalances in missing information present in the control group versus the treatment group, including significant missing information for secondary endpoints but none for the primary endpoint; (2) that the imbalance in missing information indicated that control subjects were aware of their treatment assignment (not blinded) and less inclined to participate in additional data collection; (3) that blinding is critical when studying a placebo-responsive condition such as angina; (4) that the lack of blinding assessment made the primary endpoint difficult to interpret; (5) that, as a result of the foregoing, the FDA was reasonably likely to require additional premarket clinical data; (6) that, as a result, the Company\u2019s PMA for Reducer was unlikely to be approved without additional clinical data; and (7) that, as a result of the foregoing, Defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.<\/p>\n<p>Follow us for updates on <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=t4juXKpyGaC0EHB0WVNTZ3RaTxZebtfEVZTbUvjMX869e2S-yGzVYW3JJfHgoPtY0vT60fcevB4hV_h5xGMrFPGF-qLLPPDlCVHBgfaLgafW2b83xqoElyFL24m1V7R5\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">LinkedIn<\/a>, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=oaRJu1GG-JHn00H1i8kiY72hcGElWeBcHhXlgXKaIZQjbMkn6TAEWtXxWWJdWVM-wKvNvTDl5Q_Os9JAg-dHDA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Twitter<\/a>, or <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=g4qiYl1nnN0GNjv0K4WhT75vMDu7zjnzrMq7zWLqziCqDxUcr0M4Hs_9PlJcbpxtxIj32ULsV-m1u8fjowpSmq4aH7c8Jjx6UxJImR1EmTw=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Facebook<\/a>.<\/p>\n<p>If you purchased or otherwise acquired Neovasc securities during the Class Period, you may move the Court no later than\u00a0<strong>January 5, 2021<\/strong> to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to\u00a0learn more\u00a0about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=9uLohHdyaqF8y5wwMEAawEN5imaASUjbXa4X0kl1RLW4-fzjaqObgeNUbjx_AF6z6ImdKkdLSZ6OQZJk47bMk-OHBQlgjDk1xWb1sI6-mUI-QvhqJRIN01iehm4KNP9u\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a>, or visit our website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ft_dDH8-h3dt39_y6WlaLcxFomTPm9lBf6TxCH1svjl9mQXZEr_q-ThlviHUyVayTPJVbg8mHEsK_G39N_gVn5mGMmyfeB4TEXJUFJ_wNeI=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.glancylaw.com<\/a>. If you inquire by email please include your mailing address, telephone number and number of shares purchased.<\/p>\n<p>This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.<\/p>\n<p>\n        <strong>Contacts <\/strong><br \/>\n        <br \/>Glancy Prongay &amp; Murray LLP, Los Angeles <br \/>Charles Linehan, 310-201-9150 or 888-773-9224 <br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=9uLohHdyaqF8y5wwMEAawEN5imaASUjbXa4X0kl1RLXSr1J-V460YpNn_COYB4DRXSMPZviq4Ce1UxCNB7VqdOXHi7BPu6yRB5WZvsxvvdMfpZta38sWDM9ufwsipO71\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">shareholders@glancylaw.com<\/a><br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ft_dDH8-h3dt39_y6WlaLRvZRC0KnypueO5uNyeDOYlifO1WJKoLNj6Mn2r5LJWujDAX4jRxvMbhNGtc_iKS3XXUC79GEhTAptdnBJImXpk=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.glancylaw.com<\/a><\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5NTIzMCMzODUxNjgzIzIwMTcyOTE=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/994b63a9-c1a3-4c83-b416-2987adaf00aa\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>LOS ANGELES, Dec. 02, 2020 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0January 5, 2021\u00a0deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Neovasc Inc. (\u201cNeovasc\u201d or the \u201cCompany\u201d) (NASDAQ: NVCN) securities between October 10, 2018 and October 27, 2020, inclusive (the \u201cClass Period\u201d). If you suffered a loss on your Neovasc investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/neovasc-inc\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-neovasc-inc-nvcn-2\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Neovasc Inc. (NVCN)&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-391983","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Neovasc Inc. (NVCN) - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-neovasc-inc-nvcn-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Neovasc Inc. (NVCN) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"LOS ANGELES, Dec. 02, 2020 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0January 5, 2021\u00a0deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Neovasc Inc. (\u201cNeovasc\u201d or the \u201cCompany\u201d) (NASDAQ: NVCN) securities between October 10, 2018 and October 27, 2020, inclusive (the \u201cClass Period\u201d). If you suffered a loss on your Neovasc investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/neovasc-inc\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about &hellip; Continue reading &quot;Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Neovasc Inc. 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(NVCN) - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-neovasc-inc-nvcn-2\/","og_locale":"en_US","og_type":"article","og_title":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Neovasc Inc. (NVCN) - Market Newsdesk","og_description":"LOS ANGELES, Dec. 02, 2020 (GLOBE NEWSWIRE) &#8212; Glancy Prongay &amp; Murray LLP (\u201cGPM\u201d) reminds investors of the upcoming\u00a0January 5, 2021\u00a0deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Neovasc Inc. (\u201cNeovasc\u201d or the \u201cCompany\u201d) (NASDAQ: NVCN) securities between October 10, 2018 and October 27, 2020, inclusive (the \u201cClass Period\u201d). If you suffered a loss on your Neovasc investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/neovasc-inc\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about &hellip; Continue reading \"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Neovasc Inc. (NVCN)\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-neovasc-inc-nvcn-2\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-02T17:03:12+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5NTIzMCMzODUxNjgzIzIwMTcyOTE=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-neovasc-inc-nvcn-2\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-neovasc-inc-nvcn-2\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Neovasc Inc. 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