Boston, MA 03/25/2014 (wallstreetpr) – Invivo Therapeutics Holdings Corp (OTCMKTS:NVIV) is involved in developing treatment technologies, more so for spinal cord injury cases. The company has been mute over the past six months, save for occasional regulatory filing reports and financial performance update. However, the radio-silent Invivo has all the same been speaking loud enough for investors to hear, what else can explain the recent uptrend in the stock?
Shares of the company rallied up during Monday session, shifting more volume of shares than in a normal session. The shares closed at $1.88, up 14.63 percent. The past one year has seen shares changing hands between $0.94 and $6.20.
No news is good news
Although Invivo Therapeutics Holdings Corp (OTCMKTS:NVIV) has been lacking in big news in the past several months, past events keep having impact on the stock.
The excitement in the stock seems to stem from the confidence that the market has come to put in the new management. With the inept management out of the way and a more effective one in place, investors believe that better things are being baked, or at least, misleading stock promotions will not be there.
Investors are looking to the new management to bring IDE to trial soon in order to boost revenue. This is an important reason why the stock seems to bear promise for upside potential. Also, the company having suffered in the past reporting due to high expenses and costs, investors hope that the pragmatic management will move to instill discipline in costs and expenses management to curb cash burn.
Fourth quarter and full-year data
Invivo Therapeutics Holdings Corp (OTCMKTS:NVIV) reported fourth quarter and year ended December 31, 2013 financial results, but avoid mention of revenue figures. The fourth quarter saw the company suffering net loss of $5.7 million. The quarter was impacted by heavy spending on research and development at $3.7 million and $2 million expenses related to sales, general and administrative activities.
The full year was too loss riddled. Net loss came in at $38.8 million, impacted mainly by $10.5 million spending on research and development and accounting charges of $18.9 million.
