InVivo Therapeutics Holdings Corp. (OTCMKTS:NVIV) Slides Further Down
InVivo Therapeutics Holdings Corp. (OTCMKTS:NVIV) made an amazing jump on Nov. 11, but even as it happened, it was quite obvious that the company couldn’t sustain such explosive growth, and the ticker probably wouldn’t get to retain the high it had reached.
The crash happened soon enough, and although NVIV has made some positive announcement on its overall situation, nothing the company has done since that point in time has been enough to halt the ticker’s slide.
Some due diligence reveals the fact that NVIV‘s latest financial report is actually not that bad for a development stage OTC Markets Pharmaceutical company:
- cash – $17.63 million
- current assets – $18.34 million
- total assets – $20.28 million
- current liabilities – $4.81 million
- total liabilities – $6.73 million
- no revenues
- net loss – $1.21 million
Long story short – NVIV does seem to have the cash to fund its operations, its net loss is bearable and it isn’t poisoning investor value with toxic debt at the moment. The company is also reporting significant positive results on a regular basis, which is certainly commendable. However, the fact remains – it was severely overvalued when stock prices were hovering around $1.4 per share, and it is probably overvalued even now, after so many red sessions. Why?
Because at the end of the day, NVIV is a development stage bio-tech company that, promising or not, is still has a long long way to go before the profits start poring in.
This is probably the reason NVIV fell all the way to where it is now, and why it may continue to do so.
