Shares of InVivo Therapeutics Holdings Corp. (OTC: NVIV), a development stage company engaged in the development and commercialization of polymer scaffolding devices for the treatment of spinal cord injuries, are soaring in trading today.
At last check, NVIV shares were trading 7.56% higher at $2.56 on above average volume of 409,665. The stock touched an intra-day high of $2.64 in trading today. It gained 22.38% in the last three trading sessions.
According to a 10Q filing made by InVivo Therapeutics last month, the company‚Äôs research and development expenses for the quarter ended March 31, 2012 stood at $941,000. This compares with $636,000 reported for the quarter ended March 31, 2011. The company had total current assets of $20.74 million at the end of the first quarter of 2011. Its current liabilities stood at $29.78 million at the end of the quarter.