InVivo plunges again as company updates scaffolding clinical plan

|About: InVivo Therapeutics Holding... (NVIV)|By:, SA News Editor

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.