InVivo Therapeutics Holdings Corp. (OTCBB:NVIV) On the Way to Recovery?

After another heated trading session, InVivo Therapeutics Holdings Corp. (OTCBB:NVIV) landed among the top three most heavily traded OTC stocks once again. The ticker shifted nearly 3 million shares yesterday and after a brief morning dip in the red managed to close the day 11% up.

The stock was having a very strong year, peaking around 300% from its January values. Then trouble came along, in the form of several scathing articles and a news release from the company informing about issues with their anticipated clinical tests.

The flagship product of NVIV is a biopolymer scaffolding intended to help people who suffered spinal cord injury. However, a release from the company informed of a significant delay in the expected patient trials for the product. The first of five patient will be enrolled no sooner than Q1 of next year. Additionally, the FDA demands a staggered approach to the testing procedure, which means each patient will have to be monitored for three months before a new one can be enrolled in the study. This translated into a delay of another 21 months. This procedure will need to be followed by a control group study before FDA commercialization approval is granted.

Disturbed by the news, investors seemed to shrink from the company and NVIV‘s stock price plummeted in late August. Now it seems there is a bounce going on, as the company had two consecutive sessions with double-digit green closes. Those with a passion for charts may find a lot to dissect and analyze in the technical movement of NVIV. While we are not in a position to make any predictions, it remains to be seen whether NVIV can pull itself by its own hair out of the bog of slumping prices. Volume remained strong yesterday and there may still be sufficient interest towards the company and its work, even if the commercial viability of its product has been pushed back in time.

Other companies that generated significant dollar volume in yesterday’s session include Press Ventures, Inc. (OTCBB:PVEN) who spiked dramatically in early trading, then went to slip and slide from the spike and reach a close nearly 17% down. Lot 78, Inc. (OTCMKTS:LOTE) more than doubled in price, after spending a long time out of the spotlight and commanding far smaller daily volumes than yesterday’s 3.6 million shares.