Just yesterday Neovasc resolved potential legal claims that could be brought against the company with the University of Pennsylvania (a.k.a. Penn). The firm has signed a collaboration and licensing agreement with Penn's Gorman Cardiovascular Research Group. Based on the agreement, for a period of time over the next four years Neovasc will pay a fee to Penn. The company will also pay a royalty on Tiara, its cornerstone product, to Penn. This agreement does not impact either Penn's or Neovasc's patent rights, and it also contains buyout clauses which allow a potential acquirer to buy out the royalty obligations.
This is significant news for the company that received a delisting notification from Nasdaq. Regarding delisting, Neovasc will request a hearing before the Nasdaq Hearings Panel as the next step, seeking an additional 180-day extension for compliance with the $1 minimum bid price requirement.
www.finstead.com/bit...iction-august-4-2018
This is significant news for the company that received a delisting notification from Nasdaq. Regarding delisting, Neovasc will request a hearing before the Nasdaq Hearings Panel as the next step, seeking an additional 180-day extension for compliance with the $1 minimum bid price requirement.
www.finstead.com/bit...iction-august-4-2018