Shares of nano cap InVivo Therapeutics (NVIV +20.1%) are up again today on average volume. The up move began on Monday after the company announced the start of a Phase 1 clinical trial for its degradable polymer Neuro-Spinal Scaffold in spinal cord injury patients. Prices have popped over 40% since then.
Investors need to be both patient and cautious here. The clinical trial size is only five subjects and will begin at one site, The University of Arizona in Tuscon, AZ. Two additional sites should come on line in Q2. The regulatory process for this device will be long and arduous.