Medical device maker InVivo Therapeutics (OTC:NVIV) gained back some Wall Street points today after announcing the appointment of Gregory Perry as the company’s new interim CFO, effective Monday, September 23.
Perry is taking over for previous interim CFO Sean Moran, who quit after just 2 weeks in the role. Moran had taken the job after the sudden departure of CEO & CFO Frank Reynolds, who resigned late last month. Interim CEO Mike Astrue has also been manning CFO duties while the company searched for a new appointee.
Perry was previously executive vice president and CFO of Immunogen, prior to which he was CFO of Elixir Pharmaceuticals, according to a company statement. He’s currently also on the board of Advanced Cell Technology.
The C-suite scramble has weighed heavily on InVivo’s shares, dragging the company down some 28% in the days after Reynolds’ departure. NVIV shares jumped 8.5% in late morning trading today, going for about $1.53 apiece as of 11:40 a.m., but that’s still more than 60% lower than the company’s going rate this time last month.
The company was glib about Perry’s appointment, offering few comments about the CFO shuffle.
"We are excited to bring on board a CFO with the integrity, talent and experience of Greg Perry," interim CEO & interim CFO Astrue said in prepared remarks. "His breadth of experience can add value to InVivo in a variety of ways."