After a month long fall, InVivo Therapeutics (OTC: NVIV) finally turned the corner, rising an impressive 12.8% to $2.38. What is even more impressive about this sudden turnaround is that the company did it amidst a complete market drop. Other penny stock success stories such as Great Wall Builders (OTC: GWGB) and OncoSec Medical (OTC: ONCS) have been faltering and falling hard in the last couple weeks. InVivo Therapeutics is not only surviving, but thriving during the current market downturn – something that is not only impressive, but is an amazing and noteworthy feat.
InVivo Therapeutics, formerly known as Design Source, is still a medical company in its development stage. Currently, the company is developing and commercializing new treatment for spinal cord injuries. The devices the company creates, known as biopolymer devices, are designed to protect a damaged spinal cord from any other secondary injuries that may occur in the future. Also, the biopolymer devices have a neuroplasticity component which is utilized to encourage functional spinal cord recovery.
Read the above company synopsis carefully. From an objective and maybe even subjective perspective, the goal of InVivo Therapeutics is quite lofty. Sure, most new medical companies in their development stage always appear to be extremely ambitious. That is the risk that all new companies have to take, but whenever you have a company vying for a hold on the ever-lucrative spinal cord injury industry, such ambition is taken to an entirely new level.
Whenever a company goes against the grain and finds sudden and inexplicable success, people are always left a little suspicious. This is especially true for a developing medical company. So, why has this company found new life late in June 2012? The answer may be even more surprising than the question. On June 25th, 2012, it was announced that the CEO of InVivo Therapeutics, Frank Reynolds, scheduled appearance on Fox News had been postponed. This kind of press release doesn’t appear to have much relevance to the actual stock value of the company. On the other hand, take a closer look at the company’s activities in the last month and you’ll see a pattern emerge. Between May 15th, 2012 and June 15th, 2012, ten press releases were issued, each one related to some kind of media event for the company. These included press conferences, TV appearances and even presentations at major conferences. It could be argued that this kind of marketing campaign, although inconspicuous in nature, is having a very positive affect on the company’s stock.
The numbers don’t lie. On June 25th, 2012, InVivo Therapeutics finished the day 12.8% higher, while nearly all of its competitors experienced a decline. There could be many reasons for this. It could be because the technology and medical practices promised by the company are indeed very promising. On the other hand, it could be because Frank Reynolds, the CEO, is making enough public appearances that the public is noticing – and caring.
Whatever the reason for the recent surge, the future for InVivo Therapeutics looks to be bright.
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