Company Update (NASDAQ:NVIV): Invivo Therapeutics Holdings Corp Announces Rutgers New Jersey Medical School as New Clinical Site for Neuro-Spinal Scaffold
Invivo Therapeutics Holdings Corp (NASDAQ:NVIV) announced that Rutgers New Jersey Medical School in Newark, NJ has been added as a clinical site in the company’s ongoing pilot study of its investigational Neuro-Spinal Scaffold in patients with acute spinal cord injury (SCI). Robert Heary, M.D., Professor of Neurological Surgery and Director of the Spine Center, has been named Principal Investigator at this site. The Spine Center is part of the Northern New Jersey Spinal Cord Injury System, one of 14 federally designated Spinal Cord Injury Model Systems in the United States and the only one in the state of New Jersey.
“We are delighted to join InVivo’s cutting-edge spinal cord injury trial,” Dr. Heary said. “Our integrated approach to spinal cord injury and our location in the nation’s largest metropolitan area make us an ideal candidate for this type of research.”
Mark Perrin, InVivo’s CEO and Chairman, said, “We are pleased to welcome Dr. Heary and the New Jersey Medical School into InVivo’s ongoing pilot study. Having a Spinal Cord Injury Model System Center as part of our trial will be beneficial as we look to enroll the final two patients in our ongoing study.”
There are currently 12 clinical sites that are open for enrollment:
- Barnes-Jewish Hospital at Washington University Medical Center, St. Louis, MO
- Barrow Neurological Institute – St. Joseph’s Hospital and Medical Center, Phoenix, AZ
- Carolina Neurosurgery and Spine Associates/ Carolinas Rehabilitation, Charlotte, NC
- Goodman Campbell Brain and Spine / Indiana University Health Neuroscience Center, Indianapolis, IN
- Keck Hospital of University of Southern California, Los Angeles, CA
- Medical College of Wisconsin/Froedtert Hospital, Milwaukee, WI
- Oregon Health & Science University, Portland, OR
- Rutgers New Jersey Medical School, Newark, NJ
- University of Arizona Medical Center, Tucson, AZ
- University of California/Davis Medical Center, Sacramento, CA
- University of Kansas Medical Center, Kansas City, KS
- University of Pittsburgh Medical Center Presbyterian, Pittsburgh, PA
This is the company’s first clinical study of its investigational degradable polymer Neuro-Spinal Scaffold. The Investigational Device Exemption (IDE) pilot study has been approved by the FDA and is intended to capture preliminary safety and effectiveness data of the Neuro-Spinal Scaffold in five subjects with acute thoracic spinal cord injury. Following the pilot trial, InVivo expects to conduct a pivotal study to obtain FDA approval to commence commercialization under a Humanitarian Device Exemption (HDE). (Original Source)
Shares of Invivo Therapeutics Holdings Corp closed yesterday at $15.53 . NVIV has a 1-year high of $17.63 and a 1-year low of $15.52. The stock’s 50-day moving average is $14.58 and its 200-day moving average is $10.66.
On the ratings front, H.C. Wainwright analyst Andrew Fein initiated coverage with a Buy rating on NVIV and a price target of $25, in a report issued on April 20. The current price target implies an upside of 61.0% from current levels. According to TipRanks.com, Fein has a total average return of 20.7%, a 62.3% success rate, and is ranked #173 out of 3684 analysts.
InVivo Therapeutics Holdings Corp is a research and clinical-stage biomaterials and biotechnology company with a focus on treatment of spinal cord injuries.