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Document and Entity Information - shares | 9 Months Ended | |
---|---|---|
Sep. 30, 2023 | Nov. 03, 2023 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 1500 District Avenue | |
Entity Address, City or Town | Burlington | |
Entity Address, State or Province | MA | |
Document Period End Date | Sep. 30, 2023 | |
Entity Registrant Name | InVivo Therapeutics Holdings Corp. | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | NVIV | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 3,105,446 | |
Entity File Number | 001-37350 | |
Entity Tax Identification Number | 36-4528166 | |
Entity Address, Postal Zip Code | 01803 | |
Local Phone Number | 863-5500 | |
City Area Code | 617 | |
Entity Central Index Key | 0001292519 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Former Address [Member] | ||
Document Information [Line Items] | ||
Entity Address, Address Line One | One Kendall Square | |
Entity Address, Address Line Two | Suite B14402 | |
Entity Address, City or Town | Cambridge | |
Entity Address, State or Province | MA | |
Entity Address, Postal Zip Code | 02139 |
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Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Invivo Therapeutics Holdings Corp..
Invivo Therapeutics Holdings Corp.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2023 10-K Annual Report includes:
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We have limited liquidity and capital resources and anticipate that we will continue to incur significant expenses and operating losses as we implement our review of strategic options, and we may incur increased expenses if and to the extent we are unable to stop activities or eliminate expenses related to the Neuro-Spinal Scaffold program on our anticipated timelines or we incur unexpected material expenses during this process; need to respond to any investigations or inquiries, or defend against any litigation, that may result from the announcement of the results of our INSPIRE 2.0 Study; are unable to successfully complete our exploration and evaluation of strategic options and implement any such options; or are unable to limit our ongoing operating costs as we work to explore and evaluate strategic options.
These forward-looking statements are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements in this Quarterly Report, including factors such as our ability to raise substantial additional capital to finance our planned operations and to continue as a going concern; our ability to execute our strategy and business plan; our ability to identify and execute on potential strategic alternatives that we are currently exploring; our ability to retain management and other key personnel; and other factors detailed under "Risk Factors" in Part II, Item 1A of this Quarterly Report.
Research and development expenses for the three months ended September 30, 2023 were $0.7 million, a decrease of $0.5 million compared to the three months ended September 30, 2022.
Research and development expenses for the nine months ended September 30, 2023 were $2.8 million, a decrease of $1.1 million compared to the nine months ended September 30, 2022.
The decrease in research and development expenses for the nine months ended September 30, 2023 is mainly attributable to a $0.7 million decrease in compensation related expense as result of cost cutting measures taken in the 20 manufacturing and quality areas in response to the negative topline data from the INSPIRE 2.0 Study, and a $0.4 million decrease in clinical trial costs as the INSPIRE 2.0 Study reached full enrollment in the prior year.
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Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
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Invivo Therapeutics Holdings Corp. provided additional information to their SEC Filing as exhibits
Ticker: NVIV
CIK: 1292519
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-23-018294
Submitted to the SEC: Wed Nov 08 2023 4:31:02 PM EST
Accepted by the SEC: Wed Nov 08 2023
Period: Saturday, September 30, 2023
Industry: Surgical And Medical Instruments And Apparatus