InVivo Therapeutics Holdings Corporation
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- InVivo Therapeutics Holdings Corp. (NVIVQ) operates as a research and clinical-stage biomaterials and biotechnology company focused on developing biopolymer scaffolding devices for the treatment of spinal cord injuries; its primary product is the investigational Neuro-Spinal Scaffold implant, a bioresorbable polymer scaffold composed of poly lactic-co-glycolic acid for structural support and poly-L-lysine to promote cellular attachment, designed for implantation at the site of acute spinal cord injury to support neuroregeneration. Founded in 2003 and headquartered in Cambridge, Massachusetts, the company targets patients with traumatic spinal cord injuries in the United States, employing a small team of approximately six full-time staff and leveraging proprietary technology co-invented by MIT researchers Robert Langer and Joseph Vacanti. InVivo Therapeutics Corporation serves as its key subsidiary. The company pursues regulatory approval through clinical programs such as the INSPIRE studies, which evaluated long-term patient outcomes but failed to achieve meaningful results supporting commercialization of the Neuro-Spinal Scaffold after two decades of development. In a major operational shift, InVivo Therapeutics Holdings Corp. and its subsidiary InVivo Therapeutics Corporation filed voluntary Chapter 11 bankruptcy petitions in the U.S. Bankruptcy Court for the District of Delaware on February 1, 2024 (Case Nos. 24-10137 and 24-10138), listing assets of $1-10 million and liabilities of $0.5-1 million; the proceedings continue with ongoing hearings through 2025, including a confirmation process for a joint plan of liquidation, asset sale efforts via bid procedures (rescheduled sale hearing July 9, 2024), and operations as debtors-in-possession to facilitate a potential asset sale while winding down activities.
Why Is InVivo Therapeutics (NVIV) Stock Up 61% Today?
Why Is InVivo Therapeutics (NVIV) Stock Down 34% Today?
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