Invivo Therapeutics Holdings Corp (NASDAQ:NVIV) announced promotions for two members of its management team.
Christopher McNulty has been appointed as Senior Vice President, Business Development and Investor Relations. He will continue to lead all business development and corporate communications efforts, including investor relations and public relations. This role is a promotion from his previous role as Vice President, Business Development and Investor Relations. Before coming to InVivo in November 2013, Mr. McNulty served as Senior Director of Business Development at Repligen Corporation. Previously, he was Director of Corporate Development at Seventh Sense Biosystems, and Associate Director of Business Development and Alliance Management at Genzyme Corporation. He has an M.B.A. from Harvard Business School and B.S. and M.Eng. degrees from MIT.
Alex Aimetti, Ph.D., has been promoted to the newly created position of Senior Director, Medical Education and Scientific Support. In this new role, Dr. Aimetti will be responsible for leading and managing all professional medical education programs for InVivo. Dr. Aimetti joined InVivo in April 2012, and has served in positions of increasing responsibility including R&D Manager, Biomaterials, and most recently Associate R&D Director, Biomaterials. Before joining InVivo, Dr. Aimetti was a Postdoctoral Research Fellow in the laboratory of Robert Langer, Sc.D. at MIT. Dr. Aimetti received his Bachelor of Science degree from Worcester Polytechnic Institute and holds a doctorate in Chemical & Biological Engineering from the University of Colorado Boulder.
Mark Perrin, InVivo’s Chief Executive Officer and Chairman, said, “I am very pleased to be announcing these two key promotions today. Chris has been an integral part of the senior management team since joining us and continues to lead both business development and corporate communication initiatives. Upon assuming his investor relations responsibilities, Chris has been a key member of the team responsible for our expanded interactions with the financial community, recent capital raises, and our listing on the Nasdaq.” “Working cross-functionally, Alex will advance scientific communications related to our pipeline by leading the design and management of medical education programs and a range of non-promotional communication programs to health care providers and payers in the spinal cord injury market,” Mr. Perrin continued. “We have achieved significant clinical progress with the Neuro-Spinal Scaffold and we look forward to communicating our advances to the medical community and other key constituencies. (Original Source)
Shares of Invivo Therapeutics Holdings Corp closed yesterday at $14.12. NVIV has a 1-year high of $0 and a 1-year low of $0. The stock’s 50-day moving average is $15.73 and its 200-day moving average is $12.57.
On the ratings front, H.C. Wainwright analyst Andrew Fein reiterated a Buy rating on NVIV, with a price target of $25, in a report issued on July 14. The current price target implies an upside of 77.1% from current levels. According to TipRanks.com, Fein has a total average return of 25.9%, a 61.6% success rate, and is ranked #113 out of 3727 analysts.
InVivo Therapeutics Holdings Corp is a research and clinical-stage biomaterials and biotechnology company with a focus on treatment of spinal cord injuries.