2011 was a landmark year for one of the penny stocks to watch in 2012, InVivo Therapeutics Holdings Corp. (OTCBB: NVIV), a developer of groundbreaking technologies for the treatment of spinal cord injuries. Performing under budget for the 6th consecutive year, NVIV stock price has increased by 300% in the last 6 months. The hot penny stock, NVIV, made amazing progress advancing the commercialization of their first product for Spinal Cord Injuries (SCI) and expanding their product pipeline to the rest of the human nervous system. Their release of 2011 financial results today should cause the stock to trade heavy volume which is great news for swing traders.
NVIV has already laid the groundwork to have 3 product applications under review by FDA before the end of 2012. This is amazing news for what could be one of the best penny stocks to buy long term. NVIV is up 29% since we profiled here in November, 2011.
NVIV’s biopolymer scaffolding is scheduled to enter human clinical trials for SCI sometime after June this year. NVIV shareholders expect to hear further news from the FDA of 2 additional Investigational Device Exemptions for the company’s hydrogel products to treat both SCI and chronic pain caused by peripheral nerve injuries.
NVIV has had a tremendous start to 2012 by recently closing an oversubscribed $20 million public offering which was led by globally-recognized healthcare investment institutions and by making some additions of key leadership to their senior management team.
NVIV Stock Snap Shot:
Market Cap: 124.89M
52-Week High (Dec 23, 2011): 3.23
52-Week Low (Oct 14, 2011): 0.60
5-Day Moving Average: 2.49
10-Day Moving Average: 2.51
20-Day Moving Average: 2.43
50-Day Moving Average: 2.33
200-Day Moving Average: 1.70
Avg Vol (3 month): 383,572
Avg Vol (10 day): 235,488
Shares Outstanding: 52.04M
Float: 29.94M
% Held by Insiders: 28.63%
NVIV 6 Month Stock Chart:
Financial Results
For the year ended December 31, 2011, NVIV reported:
- A net loss of $34,728,000, or $0.67 per diluted share, compared with a net loss of $7,911,000, or $0.24 per diluted share, for the year ended December 31, 2010
- Total operating expenses for the year ended December 31, 2011 were $8,659,000 compared with $3,397,000 for the year ended December 31, 2010.
- Research and development expense for the year ended December 31, 2011 was $4,103,000, up from $1,673,000 in 2010 as NVIV broadened its portfolio of products, added personnel and prepared to initiate a clinical trial.
- General and administrative expense for the year ended December 31, 2011 rose to $4,556,000 from $1,724,000 in 2010 as NVIV made investments to expand infrastructure and incurred costs associated with public company practices.
Bottom Line: NVIV losses were quite large compared to 2010 but NVIV also has 3 products seeking FDA approval this year for an industry that NVIV has a firm grasp of. Watch for NVIV to dip on the news and trade heavy volume compared to the 3-Month and 10-Day averages. Once the dust settles, it could make for a good buying opportunity on NVIV.
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