Invivo Therapeutics Holdings Corp (NASDAQ:NVIV) shares are trading down significantly after the release of their latest Investor Presentation on Thursday. The presentation, which outlines much of what the company has done up to this point and where they are headed with their studies, apparently did not get the response from investors that the company had hoped for.
Invivo Therapeutics Holdings Corp (NASDAQ:NVIV)’s INSPIRE Study is looking at whether the company’s Neuro-Spinal Scaffold is effective. According to the presentation, it has shown good results in several of the 5 patients who were implanted as part of a pilot study. To be specific, the company says that the first three of the five have shown improvement, but some investors are left guessing about why the other two aren’t seeing significant improvement.
The stock is down 15.67% or $1.65 following the news, hitting $8.88 per share. About 566,780 shares traded hands or 123.57% up from the average. NVIV has declined 13.19% since May 1, 2015 and is downtrending. It has underperformed the S&P500 by 10.41%.
InVivo Therapeutics Holdings Corp. is a research and clinical-stage biomaterials and biotechnology firm with a focus on treatment of spinal cord injuries. The company has a market cap of $280.49 million. The Company’s technologies incorporate intellectual property licensed under an exclusive around the world license from Boston Children’s Hospital and the Massachusetts Institute of Technology (MIT), and intellectual property that has been developed internally, including in collaboration with its advisors and partners. It currently has negative earnings. The Firm intends to leverage its platform technology to develop the Neuro-Spinal Scaffold, an investigational bioresorbable polymer scaffold that is designed for implantation at the site of injury within a spinal cord contusion and is intended to treat acute spinal cord injury (SCI).