InVivo Therapeutics Holdings Corp. (OTC:NVIV), which raised close to $12 million when it went public last year, reported a $9 million net loss for the year ending Dec. 31.
The Cambridge, Mass.-based startup, which is developing an implantable treatment of acute spinal chord injuries, said the 260 percent increase in net losses was attributable to “a non-cash charge of $5,099,000 for derivative losses.” Since its inception in 2005, Invivo has lost more than $14.2 million.