- Shares of InVivo Therapeutics (NVIV.OB -22.3%) plummet for the second time in three sessions.
- NVIV said today that "based on the judgement of new management," the first patient for a clinical trial of the company's biopolymer scaffolding is now expected to be enrolled in Q1 2014. NVIV also said it expects enrollment to take at least 21 months.
- In May, the company said it expected to "commence the study in mid-2013 and submit data to the FDA by the end of 2014."
- There's also chatter from SA contributor Biotech Sage (whose article looks to have been the impetus behind Friday's plunge) that "all video and TV appearances of [former CEO] Reynolds were removed" from the company's IR page.
- SA contributor and Zacks analyst Jason Napodano is skeptical of an Aegis note which purportedly defends the shares: "Wow, Aegis out with a note saying, 'NVIV news is only slight delay' ... I don't consider 5-6 years a 'slight delay.'"
- On the bright side, SA contributor Nancy Zhang is out with a more bullish take on the shares.
InVivo plunges again as company updates scaffolding clinical plan
Aug 27 2013, 11:11 ET