Please Do Your DD Before Posting Ignorant Messages.
This plan was put into place before the HUD application was received by the FDA. Mr. Reynolds has no control over the sale price. Stop having conniptions and alarming other uninformed investors every time there is a scheduled sale, as this may continue through September.
"On December 4, 2012, Frank M. Reynolds, the Chief Executive Officer of InVivo Therapeutics Holdings Corp. (the "Company"), entered into a pre-arranged trading plan in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the "Rule 10b5-1 Plan").
The Rule 10b5-1 Plan was adopted in order to allow Mr. Reynolds to sell a portion of his Company common stock over time as part of his long-term strategy for individual asset diversification and liquidity. Using the plan, he can gradually diversify his investment portfolio and can spread stock trades over an extended period of time to reduce market impact. Because the plan was established in advance of a trade, it can also help avoid concerns about transactions occurring at a time when he might possess material non-public information.
Mr. Reynolds currently owns 14,391,263 shares of Company common stock. During the term of the Rule 10b5-1 Plan, Mr. Reynolds may sell up to 4,250 shares of common stock each trading day. Sales of stock under the Rule 10b5-1 Plan commenced on December 6, 2012 and may continue until the Rule 10b5-1 Plan expires on September 5, 2013."
thank you very much for your explanation for Mr. Reynold's stock selling. He has already explained his selling in the Letter to Shareholders last fall--everything he has done in this regard has been transparent and "above board". I'm also tired of all the negative speculation than seems to permeate this board--I truly believe the FDA wants in Vivo's human trial to be a success--I really believe they are going over with a "fine tooth comb" every nuance about this future trial hence the delay. I'm sure they are outlining to In Vivo what they would consider a "positive outcome" in this trial and what will follow next (need for a larger trial, how fast this could go to market, time frame to using neurostem cells with the scaffolds etc.) I have and will never lose faith in this company--the tremendous primate results and Dr. Langer's association with this company make this as close to a "sure thing" as possible.
There in lies the twist. You said, "I have and will never lose faith in this company--the tremendous primate results and Dr. Langer's association with this company make this as close to a "sure thing" as possible. " And I'd be willing to bet that Dr. Langer curses the day he allowed his sterling reputation be marketed by such a manipulative promoter as Frank Reynolds, who has never invented anything but a personal business plan to make HIMSELF successful.