In an investor update recently issued by Invivo Therapeutics Holdings Corp. (NASDAQ: NVIV), the company said that a fifth patient out of those that were implanted with Neuro-Spinal Scaffold has registered AIS grade improvement. The company is celebrating that development as a milestone and it is saying that the rate of conversion that it is seeing with Neuro-Spinal Scaffold is tremendously encouraging.
A patient who received a Neuro-Spinal Scaffold implant while having complete AIS A spinal cord injury was able to convert to incomplete AIS B spinal cord injury within two to three months of assessment.
Invivo Therapeutics Holdings Corp. (NASDAQ: NVIV) is doing a follow-up on eight patients who were implanted with Neuro-Spinal Scaffold. As such, with the fifth patient converting so far, the rate of conversion now stands at 62.5% and that is an inspiring rate.
Historical database show that attaining 16% conversion rate in patients with complete thoracic injury within six months of injury is rare.
CEO Mark Perrin stated that the rate of conversion they are seeing with Neuro-Spinal Scaffold in the INSPIRE study suggests that Invivo is on track to exceeding the study success measure called Objective Performance Criterion (OPC). Furthermore, the CEO noted that the conversion rate so far is already four times that of natural historical database.
It is worth noting that in OPC measure, study success is defined as 25% of the evaluated patients in a study at six months following the implantation. Therefore, if all the five patients maintain their AIS grade improvement, then Invivo will have met the OPC measure.
CEO Perrin said that their efforts are currently focused on completing the inspire study and after that they will apply for HDE. If all goes according to plan, the company hopes to submit its HDE application in 2017.
How Invivo Therapeutics Holdings Corp. (NASDAQ: NVIV) fared in 2Q2016
Invivo Therapeutics Holdings Corp. (NASDAQ: NVIV) posted EPS loss of $0.16 in 2Q2016, indicating an improvement from EPS loss of $0.39 in the same quarter last year. The company finished the quarter with cash and equivalents of slightly more than $41.6 million.