InVivo Therapeutics Holdings Corp. is a developer of innovative technologies for the treatment of spinal cord injuries. The company’s biopolymer scaffold technology is designed to provide structural support for a damaged spinal cord to promote healing and improve recovery.
The company reported financial results for the three and nine month periods ending September 30, 2011. For the three month period, InVivo reported net income of $3.067 million or $0.06 per share, compared to a net loss of $0.03 a share or $837,000 in the year ago period.
For the nine month period ended September 30, InVivo posted net income of $419,000 or $0.01 a share versus a net loss of $2.261 million or $0.08 a share in the year ago period.
The company’s CEO, Frank Reynolds, said, “We had a strong third quarter as we prepare for human studies to treat acute spinal cord injury.” Mr. Reynolds also gave a look as to what is ahead for InVivo, stating, “We’ll also begin working with FDA on our second product, a drug releasing hydrogel for acute spinal cord injuries.” The device extends the company’s focus to also include peripheral nerve injury as well.
For further information about InVivo Therapeutics, please visit the company’s website at www.invivotherapeutics.com
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