InVivo Therapeutics (OTC:NVIV) said yesterday that its stock was approved to begin trading today on the NASDAQ exchange.
Shares of the Cambridge-based company had traded on NASDAQ’s over-the-counter market. InVivo’s management rang the market’s opening bell today in New York.
"We are pleased to reach this important corporate milestone. InVivo has made significant progress spanning all areas of the organization over the last year and up-listing to NASDAQ will allow us to communicate this progress with a broader audience. We are now better positioned to enhance stock liquidity and attract institutional investors, which will fundamentally enhance the value of our company,” chairman & CEO Mark Perrin said in a press release.
Earlier this month, InVivo conducted a 4-to-1 reverse stock split in preparation for its move to the larger market. The stock will trade with a “D” at the end of its symbol for 20 trading days to alert investors to the split.
Shares of InVivo closed up 9% at $16.85 yesterday.