InVivo’s Q2 net loss hits $10.4M as spinal cord injury trial shows early success: 5 things to know
By Laura Dyrda
InVivo Therapeutics reported $10.4 million net loss in the second quarter of 2015.
However, CEO Mark Perrin is focused on the strides forward the company made in the first half of the year.
“InVivo made significant advancement across all fronts during the second quarter,” he said. “The three patients in our ongoing clinical trial continued to make meaningful motor and sensory improvements. We added two new clinical sites, one of which is a federally designated Spinal Cord Injury Model Systems center. We expanded our communications efforts by exhibiting at two major neurological conferences and were highlighted in InVivo co-founder Dr. Robert Laner’s closing keynote address at the International Society for Stem Cell Research Annual Meeting.”
The company also added Jim Guest, MD, to the scientific advisory board and appointed Ann Merrifield as the board’s lead director.
Here are five things to know about the company’s financial report:
1. InVivo reported a $10.4 million net loss for the quarter, up from $3.6 million for the same period last year. A derivative warrant liability of around $4.6 million, reflecting changes in the fair market value of the derivative warrant liability, impacted the quarter’s results.
