Replies to post #6095 on InVivo Therapeutics Holdings Corp (NVIVQ)

[Devo33]

would you please provide more details. Seems the price of the stock is responding to some news. Hard to believe its what you're talking about because Its going up!

[XenaLives]

NVIV was not involved in security fraud. This statement is misleading:

NVIV SEC SECURITY FRAUD...CEO ARRESTED

The truth:

Reynolds founded PixarBio after resigning as chief executive of Cambridge, Massachusetts-based biotechnology company InVivo Therapeutics Holdings Corp (NVIV.O) in 2013.

According to the criminal complaint, Reynolds in a 2015 email to potential investors claimed PixarBio had a $1 billion valuation that was expected to increase as “we prepare to replace morphine in the clinic in late 2017 or early 2018.”

In reality, PixarBio was never worth $1 billion and had not even finished the work required to seek permission to conduct human drug trials, the complaint said.

In January 2017, at Reynolds’ direction, PixarBio issued a press release entitled “It’s Time to Make US Pharma GREAT Again,” announcing a $77 million takeover bid for Invivo, the complaint said.

https://www.reuters.com/article/us-biotech-pixarbio-court/biotech-ceo-two-associates-accused-by-u-s-of-securities-fraud-idUSKBN1HV2YO