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Neovasc regains compliance with Nasdaq listing requirement

Neovasc Inc. said it regained compliance with Nasdaq's $1 minimum bid price listing rule.

The Vancouver, British Columbia-based company was notified by the Nasdaq Hearings Panel of being in compliance with all listing requirements and the company will continue listing on the Nasdaq.

The company implemented a 1-for-100 reverse split of its common stock in September to regain compliance with the minimum bid requirement.

The Canadian specialty medical device manufacturer received a noncompliance notice in January and was given until July 2 to regain compliance. The company appealed the initial delisting decision and the deadline was extended until Oct. 15.