InVivo Therapeutics (OTC: NVIV) has just announced that its director of product development, Brian Hess, will be taking over as the Chief Science Officer for the company. Hess joined InVivo just months before and will be taking over from Edward Wirth M.D., Ph.D.
InVivo Therapeutics is a developer of new technology pertaining to spinal cord injuries as well as neurotrauma. Its platform technology makes use of polymers to develop new treatment options that are designed to help individuals who have suffered traumatic injuries to the spinal cord and have been paralyzed as a result. Founded in 2005, InVivo is the brainchild of two esteemed scientific minds, Robert S. Langer and Joseph P. Vacanti. The company is currently being traded in high volumes in the over the counter markets.
As of the last training session, the company shares opened at $1.72 per share, but fell by over 10.5% during the course of the session to close at $1.54. Its 52-week share price range is between $3.23 and $0.60, so the share prices are still far from the lower limit. The three-month average volume for the stock has been around 164,302, while nearly 800,000 shares exchanged hands today.
Brian Hess’s Entry
The entry of Brian Hess as the Chief Science Officer may change the fortunes of the company. The announcement was made fairly recently and its effect on the share prices are still to be observed. He will have big shoes to fill because Edward Wirth has many scientific accolades to his name.
Wirth has previously held prestigious posts as the medical director for regenerative medicine at Geron, as well as doctor at the University of Chicago and the Rush-Presbyterian St. Luke’s Medical Center. Hess, too, comes from good stock and was known for his work at Stryker before he moved to InVivo Therapeutics. His entry as CSO has been greeted with positivity at InVivo. Co-founder Langer stated, “I’m very much hopeful that this research will help patients with neurotrauma injuries. Brian has an extremely strong background in biomaterials, and the team and I are looking forward to working with him in this capacity.”
The people that ultimately want this to work out are the people who do not have full movement and are disabled with spine injuries. They are the ones on the front lines and the people who are dealing with this situation every day.
Other Penny Stock News
Meanwhile, other penny stock companies like Pristine Solutions (OTC: PRTN) have been making waves in the OTC markets. Pristine Solutions and its wholly-owned subsidiary Eaton Scientific seem to be in some sort of trouble since the high volume trading penny stock has been moved to the PINK OTC market. However, as of last trading session, its share prices are actually up by 13% and have settled around $0.50 per share.
Another penny stock company moved to the pink sheets is United Treatment Centers (OTC: UTRM), which is the owner and developer of online day trading business subscriptions. This common stock has also seen an increase in share price, rising from $0.0003 per share to $0.0022 per share.
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