Invivo Therapeutics Holdings Corp (OTCMKTS:NVIV) is one of those companies that have had a thriving start to a new year. This year has brought great luck to the corporation, with their stock value reaching $3.04. Unfortunately, this lasted till the start of March 2015, after which their share value started declining. The fall was unexpected, mainly because the company had reported success, with its neuro-spinal scaffold, in addition to its acquiring permission to expedite enrollment plans for the tests. Added to the recent developments the company also has large cash reserves to support it. Maybe investors believed that the company still lacks the potential to generate substantial revenues.
However, later in the month the company announced its plans to begin its tests at the Keck Hospital, in California. The announcement sent the share values to $2.83 a piece, which was unexpected since just a few days back it was thought that the value would fall below the $2 mark. The company is still on its way rising for glory. The success of the company has been most welcoming change for the company administration, especially after the company was considered illiquid in November last year.
Furthermore, the company has kept on acquiring new testing sites for its product, adding Froedtert & Medical College Wisconsin and Froedtert Hospital in Milwaukee to its list. Much of the blame for the company’s initial failures and downfall has been put on the ex-CEO, Frank Reynolds. Subsequently, the company has sued him over charges of breach of fiduciary duties, contract, conversion, misappropriation of assets and corporate waste. The outcome of the case would also decide the share value of the company. The current CEO, Mark Perrin, was of the view that the current state of the relationship between the company and the FDA has proved to be fruitful. The approval granted by the FDA would reduce the duration of the pilot trial by up to one year. Whether this is the case or not, is yet to be seen.
