Shares in InVivo Therapeutics Holdings Corporation (NASDAQ:NVIV) soared as a third patient with severe spinal cord injuries responded well in a study.
So far, Inivivo has recruited five patients, three of which have been upgraded to a partial from complete injury after six months treatment.
Previous studies reported less than few than 16% paralysed by spinal injuries showed a notable improvement.
Mark Perrin, Invivo’s chief executive said, “We are encouraged to see this patient’s significant neurological progress.
Our goal is to approach full enrolment of the pivotal INSPIRE study by the end of the year, which will allow for an HDE (Humanitarian Device Exemption) submission in 2017.”
Invivo aims to recruit 20 patients for the INSPIRE study.
Shares rose 25% to US$9.42, valuing Invivo at US$290mln.