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InVivo Therapeutics tumbles on up-listing delay

  • Shares of InVivo Therapeutics (NVIV.OB -17%) plummet after the company says plans to up-list to a national securities exchange have "been postponed indefinitely due to issues related to corporate governance."
  • SA contributor and Zacks analyst Jason Napodano says the company wouldn't disclose to him the nature of the issues but did say that it was a minor delay.
Comments (7)
  • rml360
    , contributor
    Comments (25) | Send Message
    indefinately means minor delay?
    31 Jul 2013, 02:33 PM Reply Like
  • Esekla
    , contributor
    Comments (2287) | Send Message
    Could be weeks or months, but even Jason speculates that it is simply a matter of restructuring the board a little. It is almost inconceivable that they wouldn't uplist because of that, after doing all the hard work already. The only way I can think of that it wouldn't happen would be a buyout happening first.
    31 Jul 2013, 04:43 PM Reply Like
  • Special_Sit
    , contributor
    Comments (166) | Send Message
    It is legal-friendly corporate way of saying 'not yet' without committing to specific date. It could be weeks or months. But as they appear to meet listing requirements, I can't envision a delay of say, 12+ mos.
    31 Jul 2013, 05:42 PM Reply Like
  • pogden123
    , contributor
    Comments (2) | Send Message
    indefinitely-for an unlimited OR unspecific amount of time. So in theory, indefinitely could be 5 minutes. just sayin
    31 Jul 2013, 04:47 PM Reply Like
  • Special_Sit
    , contributor
    Comments (166) | Send Message
    I loved the over-reaction - thanks all short termers for letting me buy more in the low 4's. notice the shares closed near high of the day? i predict nice pop tomorrow. Soon will be back in the 5's. fundamentally nothing has changed w NVIV; certainly not enough to chop the market cap by 15%. Agree w Jason - stock easily going to $6. And they still own global rights to all their IP; a European / ROW partner could be a big plus, and I think this is only a matter of time. NVIV is a long-term story; we aren't even half way through chapter 1.
    31 Jul 2013, 05:39 PM Reply Like
  • bufnyfan1
    , contributor
    Comments (64) | Send Message
    I remember last fall when a SA writer (Joe Springer) criticized NVIV management (Mr. Reynolds and Dr. Langer) for selling blocks of their shares-and how this was a "lack of confidence" in their company. This subsequently drove the pps to $1.50-about the same time I started adding to my position--this 15% drop has given me another opportunity to "load up" before the TRUE stimuli come into play--start of the human trials/application for the hydrogel product to the FDA etc. etc.
    31 Jul 2013, 07:08 PM Reply Like
  • ControlledRisk
    , contributor
    Comments (224) | Send Message
    I am sure it has to do with the CEO/CFO being the same. I went through the same thing with ACTC, where not having a CFO was one of the issues preventing the uplist. That makes sense why they would say indefinite delay as well, since who knows how long it takes to hire a CFO. Nothing has really changed in my mind though.
    2 Aug 2013, 02:46 PM Reply Like
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