Las Vegas, NV -- (SBWIRE) -- 08/29/2013 -- Invivo Therapeutics Holdings Corp (OTCBB:NVIV) shares fell by more than one third after the company reported that it has to pushed back the first human trial of its experimental treatment of spinal cord injuries.
Invivo Therapeutics Holdings Corp said the Food and Drug Administration wants to stagger enrollment of each patient by three months. Based on this timeline, the company expects that it would take 21 months to enroll all five patients in the test of its biopolymer scaffold device.Invivo Therapeutics Holdings Corp expects to enroll its first patient in the first quarter of 2014. The company also reported in April that it is expected to begin the trial in coming months. InVivo shares plunged nearly 38% on five times average volume.
The interim CEO of the company, Michael Astrue stated that company remains fully committed to beginning this study as soon as possible. He added that while the study would take additional time, the company looks forward to bringing this important therapy into the clinic.
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