InVivo Therapeutics Holdings Corporation (NVIV) saw its loss widen to $6.20 million, or $0.19 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $2.31 million, or $0.09 a share. On an adjusted basis, loss per share was at $0.18 for the quarter compared with loss of $0.22 a share in the same period last year.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $5.88 million, compared with an operating loss of $5.87 million in the previous year period.
However, the adjusted operating loss for the quarter stood at $5.86 million compared to operating loss of $5.90 million in prior year period.
Mark Perrin, InVivo’s chief executive officer and chairman, said, “In the third quarter, we continued to make fundamental progress at InVivo. One of the most notable achievements was the expansion of the INSPIRE study to allow for twenty evaluable patients. Just a few weeks later, we had a fifth patient improve from complete to incomplete paralysis making our current conversion rate approximately four times the rate in natural history databases (62.5% vs. 16%).
Working capital increases sharply
InVivo Therapeutics Holdings Corporation has recorded an increase in the working capital over the last year. It stood at $32.93 million as at Sep. 30, 2016, up 91.14 percent or $15.70 million from $17.23 million on Sep. 30, 2015. Current ratio was at 6.98 as on Sep. 30, 2016, up from 4.11 on Sep. 30, 2015.
Debt comes down
InVivo Therapeutics Holdings Corporation has recorded a decline in total debt over the last one year. It stood at $1.38 million as on Sep. 30, 2016, down 22.04 percent or $0.39 million from $1.76 million on Sep. 30, 2015. Total debt was 3.49 percent of total assets as on Sep. 30, 2016, compared with 7.36 percent on Sep. 30, 2015. Debt to equity ratio was at 0.04 as on Sep. 30, 2016, down from 0.10 as on Sep. 30, 2015.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
