NVCN - Neovasc GAAP EPS of -$3.75 misses by $2.50 revenue of $0.61M misses by $0.19M

Neovasc press release (NASDAQ:NVCN): Q1 GAAP EPS of -$3.75 misses by $2.50. Revenue of $0.61M (+35.6% Y/Y) misses by $0.19M. “The first quarter of 2022 was another record setting first quarter in revenue, with continued progress towards our value-creation strategies, in particular on reimbursement,” said Fred Colen, Neovasc President and Chief Executive Officer.  “We advanced the Reducer as a viable option to treat refractory angina in Europe, through direct outreach to key opinion leaders, securing positive reimbursement momentum, and by announcing independent studies demonstrating the value of the Reducer to patient, physicians, and payers at a time when value-based care is increasing in importance. As for the important US market, we qualified, trained and contracted the first several U.S. clinics, and began enrolling patients in the pivotal COSIRA II trial, which we believe will demonstrate the benefits of the Reducer and help to inform a future PMA submission to the FDA.”

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Neovasc GAAP EPS of -$3.75 misses by $2.50, revenue of $0.61M misses by $0.19M