InVivo Therapeutics Holdings Corp. (OTCBB:NVIV) Gathering More Momentum
InVivo Therapeutics Holdings Corp. (OTCBB:NVIV) is one of those mythical rare beasts in the OTC Markets that actually have quite a lot of cash on hand and a serious project to which they are devoted as a company.
The stock of NVIV has been gradually going up the charts since the end of February and even though they had times in which they were headed in a downward direction, these periods were not that long considering the bigger picture. In these 4 and a half months the stock of NVIV managed to slowly climb a nice 364% from the $1.62 on February 21, which is a big achievement considering the long period of time that it was spread across.
The last slide that the stock experience was in the end of last month and in the beginning of this with its climax at around July 8 when the price dropped to $3.96. Since then the stock is headed for new heights again, registering only 1 session in the red and so far they climbed 148% from that low.
They may be moving with little percentile movements, but they are gathering more and more momentum. With a small 3% gain yesterday their stock managed to climb from $5.49 to $5.67 on a considerable volume of 1.5 million shares that switched hands. Trading was in big numbers through the whole day, but in the morning and the early afternoon it was at it’s peak. The total trade value that was generated by this movement was $8.96 million.
The press releases seem promising and considering that NVIV is in a very decent financial state, there seems to be nothing that can bring them down. Speaking of their financials, let’s take a quick moment to to check the numbers of prime interest from their latest report covering Q1 of this year.
- cash: $10.3 million
- total assets: $13.8 million
- total liabilities: $28.17 million
- derivative warrant debt: $24.5 million
- revenue since inception: $0
- quarterly net loss until March 2013: $13.3 million
As you can see they are well positioned, even though their research is in quite an early stage. It would take a long time until they can brag with any actual results, but at least they have nice financials, which might be able to pull them through. Short-term investments should be made with a lot of care and if you decide to play this game you should make a lot of due diligence and weigh out the risks for yourself.
Another interesting medical company at the moment is Affymax, Inc. (OTCMKTS:AFFY), who are managing to keep a level, even though the only drug they had was pulled off the shelves. After a few little jump last week they are currently being traded at $1.12. Probably the biggest winner of yesterday was TechnoConcepts, Inc. (OTCMKTS:TCPS), who jumped 50% in the session, but are sliding down 15% today currently trading at $0.0375.
