InVivo Therapeutics reported net income of $3 million for the third quarter of 2011, according to a company news release.
Research expenses for the third quarter were reported as more than $1 million, significantly higher than the $325,000 reported during the third quarter of 2010. General and administrative expense also more than doubled from the third quarter of 2010 to include nearly $1.2 million in the third quarter of 2011.
During the third quarter, the company submitted an IDE and are awaiting FDA clearance to begin a human clinical study with the company's proprietary biopolymer scaffolding device for acute spinal cord injury. The company also appointed a medical director and chief scientific officer and expanded the neuroscience team to include a laboratory director and research and development manager.
Related Articles on Orthopedic Device Companies:
Alphatec Spine Names Frances Harrison to Vice President Position
TranS1 Launches Lateral Access Spinal System
K2M Debuts New Cervical Plate System With Blue Ridge Technology
During the third quarter, the company submitted an IDE and are awaiting FDA clearance to begin a human clinical study with the company's proprietary biopolymer scaffolding device for acute spinal cord injury. The company also appointed a medical director and chief scientific officer and expanded the neuroscience team to include a laboratory director and research and development manager.
Related Articles on Orthopedic Device Companies:
Alphatec Spine Names Frances Harrison to Vice President Position
TranS1 Launches Lateral Access Spinal System
K2M Debuts New Cervical Plate System With Blue Ridge Technology