InVivo Therapeutics reported raising net proceeds of $16.5 million in 2018 and implemented significant cost savings measures last year.
Four things to know:
1. The company reported operating expenses at $12.7 million, down 48 percent from $24.6 million in 2017.
2. InVivo reported a $23.4 million net loss for 2018, down from $26.7 million in the previous year.
3. The company focused on initiating the Inspire 2.0 Study last year with five clinical sites that are now open for enrollment. The company aims to begin enrollment in the second quarter of 2019.
4. InVivo reported its cost saving measures decreased operating expenses 48 percent year over year, which hit $11.8 million last year.