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InVivo Therapeutics Reports $3M Net Income in 3Q

By  Laura Dyrda | Friday, 18 November 2011 23:17
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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.

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