Seeking Alpha

InVivo CFO Sean Moran resigns

  • InVivo Therapeutics' (NVIV.OB) acting CFO Sean Moran resigns.
  • New CEO Michael Astrue will serve as "principal financial officer" until a replacement is found.
  • Moran's exit causes the company to cancel tomorrow's presentation at the Rodman and Renshaw Healthcare Conference. (PR)
Comments (6)
  • Bio Bull
    , contributor
    Comments (235) | Send Message
     
    This stock is a roller coaster. Looks like a huge dip again tomorrow now after sharp increases the past week.
    9 Sep 2013, 05:03 PM Reply Like
  • Esekla
    , contributor
    Comments (2516) | Send Message
     
    Just more board restructuring on the way to uplisting. I got a lot of negative feedback for warning about the dangers on this one at triple the price, but the recent moves are all actually long term positives for the company.
    9 Sep 2013, 05:09 PM Reply Like
  • newalker
    , contributor
    Comments (148) | Send Message
     
    Do you know why it would be a positive for CFO Sean Moran to resign?
    9 Sep 2013, 05:24 PM Reply Like
  • Esekla
    , contributor
    Comments (2516) | Send Message
     
    We tend to see this pattern over and over with companies moving from experimental startup to invest-able business: the initiators of the vision provide the passion, but are not kept around to reap the rewards.

     

    Reynolds was overly promotional, and I'm surprised that wasn't mentioned more by analysts while the stock was rising. His exit was actually a positive for the company. Who knows the actual reason for this move... could be personalities or loyalty to Reynolds, could simply be wanting someone more qualified. None of it has much to do with the science at the core of company, and that we often see moves of this sort before uplisting.

     

    The biggest point to me is that the company now has a realistic time-table and communication. People on the message boards here who believed there were going to be human trials this year, etc. were simply not being realistic.
    9 Sep 2013, 06:47 PM Reply Like
  • Bio Bull
    , contributor
    Comments (235) | Send Message
     
    Did the new CEO make him take a walk? That sounds like something that could happen with new management taking over. Scary for a young biotech though.
    9 Sep 2013, 05:29 PM Reply Like
  • User 9221031
    , contributor
    Comments (38) | Send Message
     
    @ Red Bull

     

    yes, I believe he did

     

    At a minimum, Sean was not a "people person"

     

    IMHO, this is good news
    10 Sep 2013, 12:54 AM Reply Like
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