There were a lot of companies that did more than expected in the previous year, while quite a few did below expectations. Among all such companies, one was Invivo Therapeutics Holdings Corp (OTCMKTS:NVIV). As per the reports, the financial position of the company has put it in a much better situation than the previous year.
Management of the company is delighted to announce the decision. According to Mark Perrin, Chairman and Chief Executive Officer of Invivo, the company witnessed excellent financial and operational performance in the previous year. Invivo is in much better situation to execute all the corporate goals than it was 15 months ago.
Updates About Business Leadership:
Even though it achieved a few business milestones, but the best among was the hiring of experienced leadership team. It has hired five corporate officers after January 2014. All of them bring world-class expertise and significant depth regarding approval, development and commercialization of all the products. Invivo will look to get an edge over its rivals under the solid partnership of these new leaders.
Financial Updates of 2014:
In terms of finances, Invivo had some tough moments in the previous year. It reported total net loss of $18.34 million in the previous year, which was reasonably lesser than 2013’s loss of $38.75 million. The non-cash losses for 2013 and 2014 were calculated as $18.87 million and $3,76,000. Both of these figures clearly reflect the change in the fair market value of derivative warrant liability.
The management of Invivo hoped that the difficult financial situation that it had to face last year wouldn’t be repeated in the current year. Few of its decisions went wrong in the previous year. As per the reports, it will try to make sure that things don’t go out of the control in the near future.