Today’s Top Pick mid-year update comes from BI Research Analyst Tom Bishop, whose pick, InVivo Therapeutics (NVIV) is one of the best-performing Top Picks so far, with gains of over 100%. Here’s his current opinion on the stock.
“InVivo Therapeutics Holdings Corp. (NVIV, OTC) — This spring InVivo received the anticipated Humanitarian Use Device (HUD) designation from the FDA for its biopolymer scaffold device to be used to prevent paralysis in Spinal Cord Injury patients. And InVivo then promptly received approval (called an HDE) from the FDA to proceed with the clinical trial.
“However, first the Institutional Review Board must bless the trial protocol, and then the trial can finally begin. That’s where InVivo is now — awaiting that final go ahead.
“I strongly re-recommended the shares with a page one feature in our 2/27/13 issue when the shares dipped to $1.75 and investors (with a lot of misconceptions) grew concerned about the delay in the two above noted FDA approvals. But now investors are fully engaged and anticipating favorable results. Why? Well the company tested its technologies in over 40 paralyzed monkeys and all of them were running again within three weeks. And odds do seem heavily in our favor for some functional improvement in SCI patients because the correlation of these monkeys to humans is 98-99%. Except for one important difference: humans can understand doctor’s orders... and monkeys can’t.
“We’re holding on tight.”
Tom Bishop, BI Research, www.biresearch.com, July 2013