Interim CFO Sean Moran quits InVivo Therapeutics after just 2 weeks on the job, sending share prices down nearly 22% today.
InVivo Therapeutics (OTC:NVIV) shares plunged some 22% today after the medical device company reported that its interim CFO, appointed 2 weeks ago after the sudden departure of CEO & CFO Frank Reynolds, had resigned effective immediately.
NVIV shares were trading at $1.61 each as of about 3:20 p.m. today, down 21.5%. Cambridge, Mass.-based InVivo's shares plunged some 28% August 27, days after Reynolds' departure, when it said the timeline for clinical trials of its spinal cord injury treatment would be delayed for years.
Moran's departure also means that InVivo will not present at the Rodman & Renshaw Healthcare Conference as planned today, according to a press release.