InVivo Therapeutics, which focuses on spinal cord injury implants, filed for Chapter 11 bankruptcy, according to a voluntary petition filed Feb. 1 in U.S. Bankruptcy Court for the District of Delaware.
The company is asking the court to continue business practices and a potential sale of assets during the bankruptcy process, according to SEC filings. Shares of InVivo fell 48% amid news of the filing, according to Market Watch.
InVivo Therapeutics' implants aim to help patients with acute thoracic spinal cord injuries, according to its website.