InVivo Therapeutics announces $9M offering

InVivo Therapeutics (Nasdaq:NVIV) announced today that it entered into a definitive agreement to offer $9 million in common stock.

Cambridge, Massachusetts-based InVivo entered the agreement with a single healthcare-focused institutional investor. The registered direct offering covers the sale and issuance of 523,810 shares of the Company’s common stock (or pre-funded warrants in lieu thereof).

In line with the offering, InVivo agreed with the investor on the sale and issuance of nearly 1.2 million shares in a private placement. The company also agreed to issue unregistered preferred investment options worth more than 1.7 million common stock shares.

The preferred investment options have an exercise price of $5.05 per share. InVivo made the immediately exercisable upon issuance with expiration 5.5 years following the date of issuance. The combined purchase price for one share of common stock and the preferred option totals $5.25.

H.C. Wainwright &…

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InVivo Therapeutics completes enrollment in study of Nuero-Spinal Scaffold

[Image from InVivo]InVivo Therapeutics (Nasdaq:NVIV) announced today that it completed enrollment in the Inspire 2.0 study for patients with acute spinal cord injury.

Cambridge, Massachusetts-based InVivo’s 20-patient randomized, controlled trial aims to enhance the clinical evidence for the company’s Neuro-Spinal Scaffold.

The company designed the Neuro-Spinal Scaffold to encourage functional cells to fill a cavity that will typically develop at the site of a spinal cord injury if left untreated. The scaffold is implanted at the site of damage within one week of spinal cord injury to support neural regeneration and cell growth.

If the platform achieves this, the structural change within the spinal cord could potentially improve sensory and motor function and lead to better quality of life for the patient.

“Reaching full enrollment in our Inspire 2.0 study is a significant advancement in our research and development efforts towards a pote…

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