Jason Napodano, CFA
Research analyst, medium-term horizon, biotech, small-cap

Weighing The Pros And Cons Of InVivo Therapeutics

On March 17, 2014, InVivo Therapeutics (NASDAQ:NVIV) reported financial results for the fourth quarter and full year ended December 31, 2013. The company did not report revenues during the fourth quarter or full year 2013. This was in line with expectations. Net loss in the fourth quarter totaled $5.7 million, driven by $3.7 million in R&D and $2.0 million in SG&A expense. For the full year, net loss totaled $38.8 million, driven by $10.5 million in R&D, $8.5 million in SG&A, and $18.9 million in non-cash accounting charges associated with the outstanding derivative liability. This liability was removed in June 2013, when the company successfully completed a $16.1 million warrant call.

From a cash burn standpoint, InVivo

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