InVivo shares jump on study results

InVivo Therapeutics (OTC:NVIV) shares jumped 10% today after the company released promising data on the 2nd and 3rd patients implanted with its investigational neuro-spinal scaffold.

A 1-month checkup of the 3rd patient implanted with the scaffold reported an improvement from an A class injury on the American Spinal Injury Association Impairment Scale, indicating complete loss of sensory and motor function, to a B class on the AIS, indicating some restored sensory functions.

Cambridge, Mass.-based InVivo reported that the patient had also recovered sacral sensation and some bladder function.

A 6-month followup with the 2nd patient in the study reported an improvement in sensation with “partial sensation present 5 dermatome levels lower on the right side compared to the 3-month assessment,” Invivo said.

InVivo shares responded to the news by rising over 10% to $17.27 as of 2:00 p.m.

“We are excited about the neurologic progress that each of our 3 study patients has made to date. It is particularly noteworthy that 2 of the patients improved rapidly within the 1st month post-injury from a complete to incomplete spinal cord injury. Patient number 1 improved from AIS A to AIS C in 1 month which occurs in fewer than 5% of AIS A patients with T10-T12 injury, and patient number 3 exhibited improvement AIS A to AIS B which historically is observed in fewer than 4% of patients with a T4 injury. To date, the neuro-spinal scaffold has been successfully implanted in 3 consecutive patients with no serious adverse events associated with either the scaffold or the surgical procedure. We look forward to continuing to follow these patients and expect to complete enrollment of the remaining 2 patients in our pilot trial within the coming months,” CEO Mark Perrin said in a press release.

“It is exciting and promising when a patient who is classified as a complete spinal cord injury becomes classified as incomplete. This is a relatively unusual occurrence and gives much more potential for further recovery,” study lead Dr. William Bockenek of Charlotte, N.C.’s Carolinas Medical Center said in a prepared statement.

In May, InVivo stocks slumped after news that the 2nd patient implanted with the device had been experiencing a slower recovery than the 1st patient implanted, dropping 6.5% the day of the release to close at $12.75.

Shares soared 40% in 2014 upon 1st implantation of the device, and rose again upon news of the 1st patients improvement from AIS class A to AIS class C.

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