Two observations for today. STILL NO 8:00am NEWS, and still no statement from management regarding the insane drop after all the previous drops.
I see a lot of theories floated. However this is nothing new. The very first irrational drop in share price came days after the 3rd patient converted to AIS B in only 30 days. That drop made absolutely no sense at the time. The fact is this stock has been raped and pillaged by greedy gamesters for almost 22 months now and the only negative has been the slowness of this trial and the associated extra burn over time. Sure management seems lame, but each of these feeds into the other so it exacerbates beyond proportion.
Positive facts: Study results have been extremely successful. This will get approved and will open an exclusive niche. Revenues follow shortly thereafter. Once all 20 patients are enrolled it will exert a strong uplifting of the share price and will probably occur before they need cash.
Those who opine this is all about cash, how can you explain this stock being attacked at every turn no matter what management has tried: ATM, no ATM, cash raise below where it had been trading, not to mention continued drop right after being flush with cash the last round. There is more going on that meets the eye. There are some involved in brutally attacking this company regardless of any achievements. I would guess Reynolds is somehow involved. We have had a steady decline since a very positive event of P#3 conversion and actual positive events yield small gain while 2 reverts cause extreme over-reaction as does having 12+ months of cash (which never was an issue historically).
Finally had a chance to sit and read the full proxy statement for the annual shareholder meeting. Some of these things were already known but to see it collectively makes me sick.
Perrin's compensation and bonus received for 2016's performance
Lorianne M. receiving a FULL years pay for 2017. She stopped 'working' for Invivo last year!
Pamela Stahl receiving 100% bonus for 2016 when she started in August!
The 'consultation' fees Invivo is paying to the directors and Langer
The list goes on.
I strongly believe the street has had a large hand in pushing the stock down in an effort to vote the class III directors out this year. Something has to change...
No big block afternoon seller so far...
It's Tuesday and...
Still no news on patients. I thought well maybe. But no.
Frank may have been an obnoxious carnival barker, but Mark is a wimp amateur who does not know how to protect share value and doesn't even know how to word PR's, with phrases like, "compares favorably."
We need a new Chairman of the board, who can then decide what to do with a less than effective CEO who "compares favorably" to a eunuch.
GOOD NEWS for once....Jesi has a radio interview posted and in the interview she announced she has resigned her crown as Ms Wheelchair because she felt it no longer applied. She said in her own words that she can now stand and has a personal goal of walking by end of summer. Why isn't our company following this and creating our own press releases around the success? I find this long-term improvement more thrilling than reading a confused statement about two reversions inside of 6 months. Jesi's injury was very severe and she had to be resuscitated twice. Perhaps there are others with long-term improvements? There is more.....The daily POST ANALYST publication reports today that analyst price targets for NVIV are $6 - $23. Finally we are getting a positive spin on the available facts from the POST ANALYST anyway. Why isn't there a link to NVIV?
Crucial to hold and bounce from $2 today or we test all time lows from the fall of 2014.
The reason the stock is going down is the Russell rebalancing.
ATTENTION MARK PERRIN Do you fully understand the concept of the term RESPONSIBILITY?
You could come up with more excuses and finger pointing, but ultimately it comes back to Mark Perrin.
Where are the next patients? You have 31 sites signed up. Are you keeping in touch with these PI's? 5 more are needed. How many new sites are being lined up? How about Johns Hopkins?
I think the CEO is really in a coma. When you go to the annual meeting they will have him propped up like Weekend at Bernies with last year's presentation running and claim he's also a ventriloquist.
Theory on NVIV price action: I have been struggling to come to a reasonable explanation as to why the price has fallen so dramatically in the last 2 months or so. The only bad news has been the 2 patients that reverted. As disappointing as that was, we have learned that reversions happen and that is part of the landscape in spinal treatment. I do not believe the usual issues, poor management, slow enrollment, poor communications, etc. etc. can explain the rapid drop from 5’s to our current price of 2.00?? I have another possible theory and unfortunately I cannot come up with any reason that it is not valid. I offer the following theory (I have no inside information to substantiate it) to fit the facts that we know. The trials are taking far longer than management thought they would. As a result, they are facing serious cash burn and extended costs. They have hired and structured the company for commercialization which seems another year away. Without another raise they will not have enough cash to get through the trails. Given the history of NVIV and managements continued mistakes it would appear to me that they would need to give a very significant discount to raise the necessary capital. I am guessing they would need to offer 2.00 per share with a warrant per share to entice the necessary capital. I would further guess they would issue 15 million shares, for a total raise of 30 million dollars. Some might argue that the price and terms appear to be too generous, on the surface I agree, however……………….. The problem that management has is that a raise of this type would need to have 30 million shares available to issue (the warrants also have to be counted), I seriously doubt NVIV has 30m shares in the approved treasury. This would explain the need to raise the approved pool of shares for the company, and the significant effort the company has put into getting the proxies approved and counted. If a raise was conditioned on having to wait for shareholder approval, that could be a significant factor in the pricing. If we assume that the offering is similar to what is proposed, then the next part falls in line. If a large trader knew about the financing (I am not implying a direct connection although it seems very possible given the complete lack of ethics on Wall Street) they could use the delay as a huge opportunity to make a risk free windfall. How you ask?? The biggest risk a short seller has is a large run in the stock price and the inability to buy back their shares. If a trader knew the situation, they could short the stock without fear. They would have no worries about buying back shares because they would know that a large block of shares would be available at 2.00 after the financing closes. The financing guys would easily sell at the offered price because they would get to keep the warrants for free. It becomes a win win for both parties. The worst part is that is seems possible that the entire financing could be paid off from the short selling with a very nice profit for the traders efforts. Image a deal where you sell the stock short (5.00 range down to 2.00 = 3.00 in profit) and make enough profit to pay for the financing at 2.00 and still have 1.00 for the effort, and 15 million warrants for free, unbelievable. Management would not have any motivation to stop it, they want the financing to close and they paid zero for their shares. They have proven pretty decisively they have little regard for the shareholders. If the timing worked out right, it would be possible to get everything done in a way that would not make it necessary to report holdings either way.
If this is right or some version is close then the price will begin to return to a reasonable level as news becomes available. Without the divisive, relentless selling the price will begin to act normal again. That’s my theory.
what happened here? how did management lose control of wall st? sad really. CEO has failed investors and this company. time for a change.
OK. I've got to stop watching this daily. I was adamant and totally wrong about it getting below $4. Jeez! And now touched below $2. Muy Loco! I've got to much invested and unwilling to take the big loss, so going to check out for the most part by deleting it from my bookmarks. I'll just put an alert in to inform me if price breaks above $3, $4 and more. Cheers and GL to everyone! Even the shorts who always have the right to play the game even if the system appears unfair to LT investors. Greed governs now and has so for thousands of years.
Perhaps the management team should be buying some treasury shares with the idle cash and re-issue them at a later date when the stock recovers its PPS. I think shareholders will have a great case for the dismissal of Mr. Perrin due to the stock price, just like Ford shareholders dumped Mark Fields because of PPS not reflecting fair value and Management has done nothing to stop the fall.
The silence and lack of news here is deafening.
To turn the PPS upward, NVIV needs a surge of buying by institutional investors. For this reason, the inept management team should be reaching out to Brokerage firms, especially those expected to be involved in future fund raises, to support the stock in some way given the success of the NVIV trials to date and the fact that they have already reached the required 25% FDA threshold for approval. Remember, no other remedy is available in any market around the world and the care savings alone for slight improvements for those suffering with spinal injuries can total in the tens of millions per year.
I am unable to be at the annual meeting but I am hoping somebody else will speak up. The meeting is one place where shareholders can vent with effect and purpose. Our leadership does not seem to act on opportunities to express positive energy. Outwardly they appear to be non-supportive and unenthusiastic about the scaffold despite outstanding interim results to-date of the ongoing clinical trial. To present a confusing discussion regarding enrollments, conversions and reversions then rolling it up with the comment, “…improvement rate observed thus far in the INSPIRE study compares favorably to the natural history…,” is an uninspiring ho hum attitude. The statement can be taken as indicating INSPIRE is barely better than, or essentially equal to, the natural history. Judging from the recent price trend, the market read it this way as a red flag. As a strongly positive example, we could have also said, “…results to date show over 100% more conversions are happening to patients with the scaffold than without it”. And we could have also said, “…clinical results to date are 5 conversions out of 15 patients which is twice the natural rate and 33% more than the FDA performance objective for the clinical study.” And we could have added, “…only 5 more enrollments are needed to meet the FDA requirement.” And we could have said, “…in the event no more conversions are experienced the INSPIRE study still meets the FDA performance objective based on results to date.” There are numerous other ways to explain the ongoing study in a positive light without being misleading. If our company leadership does not demonstrate positive support for our primary product we should expect our share price to decline. Since we do not have earnings by which to measure our success we have to rely on other ways to express our company accomplishments and we rely on our leadership to do this.
Down about 86% since my investment in 2015.
Ok! So we all acknowledge management is subpar or worse. That's Unlikely to change. SO, let's just eliminate management's pathetic performance and focus on the data. As long as the data continues to be good (to great), the share price will ultimately reflect that. Patience weedhoppers! And that includes myself!
So according to Morningstar in March 27 institutions decreased ownership for a total of 709,511 shares. Welch and Forbes 199,820 and Goldman Sachs 95,442 being the two largest sellers. Then in April Vanguard sold 135,748.