“Stocks that soar 178 per cent in six months don’t come along every day,” notes editor Chloe Lutts Jensen. But soar Invivo Therapeutics Holdings Corp. (NVIV-OTCBB, $4.22) did, with a first-half gain that made the company this advisory’s best-performing top pick for 2013 at mid-year. The stock has since corrected slightly from those lofty heights, but is still up about 135 per cent year to date.
Invivo is a development-stage medical technology company with a new “scaffolding” technology for treating spinal cord injury. This potentially revolutionary development in the treatment and prevention of paralysis was given an OK by the U.S. Food and Drug Administration some months ago for a human trial and for a humanitarian use exemption. (The latter makes it easier “to bring devices for currently untreatable conditions to market.”)
To move forward with the trial, Invivo is now waiting for the final green light. Not surprisingly, the FDA’s thumbs-up drew a lot of investor interest in the firm. And folks who got in early saw their holdings soar. For now, this advisory reports, the stock is “correcting a bit” from its new highs and will likely “stay quiet” until the next round of good news is announced.
Dick Davis Investment Digest, P.O. Box 2049, Salem, Mass., 01970, (978)-745-5532,
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