Invivo Therapeutics Holdings Corp (NASDAQ:NVIV) Stock Attempts To Rebound: Will it Sustain?

Invivo Therapeutics Holdings Corp (NASDAQ:NVIV) gained 13% after surging 36% during intraday trade. The stock has caught investor’s attention after the company announced that the US FDA had accepted its preclinical module, which is among the three individual modules necessary for Invivo Therapeutics’ humanitarian device exemption application.

The module’s acceptance indicated the completion of the HDE review by the FDA without any outstanding questions. Once a review of the other two modules is complete, a final decision for approval will be imminent.

Previously the FDA had approved Invivo Therapeutics’ HDE modular shell application and a review for the Neuro-Spinal Scaffold implant. The HAD modular shell comprises three modules, including preclinical, manufacturing, and clinical data modules. According to the company, the modular shell s submission will allow for a possible efficient review process and timeline with the FDA. The agency will be reviewing each module on a rolling basis as part of the review process. So in the coming months, NVIV is a stock to watch.

Market Reaction:

On Tuesday, NVIV stock jumped 12.5% at $0.7617 with more than 10.83 million shares, compared to its average volume of 660k shares. The stock had moved within a range of $0.7300 – 0.9275 after opening the trade at $0.8209. Over the past 52-week, the stock has been trading within a range of $0.5000 – 2.0000.