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Former PixarBio worker pleads guilty in fraud case

February 12, 2019 By Fink Densford Leave a Comment

A former PixarBio (OTC:PXRB) employee pleaded guilty last Friday to charges of fraud and obstruction, according to a recent report from the Boston Business Journal. The employee, Jay Herod, was accused of making false statements to the SEC and impeding their investigation, as well as manipulating company stock trades and misleading investors, according to the report. […]

Filed Under: Featured, Legal News, Pharmaceuticals, Wall Street Beat Tagged With: PixarBio

Feds arrest PixarBio CEO Reynolds on securities fraud charges

April 24, 2018 By Brad Perriello Leave a Comment

The bizarre saga of biotech executive Frank Reynolds took another turn today when federal authorities arrested the PixarBio (OTC:PXRB) CEO and two associates on securities fraud charges, claiming they misled investors about its opioid substitute and falsely claimed a $1 billion valuation. PixarBio is purportedly developing a drug to replace morphine and other opiates, but prosecutors alleged […]

Filed Under: Drug-Device Combinations, Legal News, Wall Street Beat Tagged With: PixarBio

Facing legal woes, PixarBio takes aim at InVivo

February 27, 2018 By Sarah Faulkner Leave a Comment

PixarBio (OTC:PXRB) faces its own legal problems: a possible lawsuit by the SEC, legal action by a disgruntled employee who is demanding unpaid wages and former landlords looking for $1.8 million in unpaid rent. But the 7-person biotech is also looking to launch some litigation of its own, according to a recent document it filed with the SEC […]

Filed Under: Legal News, Pain Management, Pharmaceuticals, Wall Street Beat Tagged With: InVivo Therapeutics, PixarBio

PixarBio investors sue over InVivo takeover bid

January 31, 2017 By Sarah Faulkner Leave a Comment

PixarBio (OTC:PXRB) investors launched a securities class action suit against the Massachusetts-based biotech yesterday, alleging that the company lost its investors millions of dollars by issuing false statements about the prospects of a merger with InVivo Therapeutics (NSDQ:NVIV). The case was brought on behalf of investors who purchased or acquired PixarBio stocks between October 31, 2016 through […]

Filed Under: Legal News, Pain Management, Wall Street Beat Tagged With: InVivo Therapeutics, PixarBio

InVivo touts 6th patient conversion in regenerative spinal scaffold trial

January 24, 2017 By Sarah Faulkner Leave a Comment

InVivo Therapeutics (NSDQ:NVIV) said today that a patient enrolled in December in its Inspire study has improved from a complete AIS A spinal cord injury to an incomplete AIS B spinal cord injury. This is the 6th patient from the 11-patient group to have an AIS grade improvement at the 1-month follow-up mark. The Cambridge, Mass.-based […]

Filed Under: Clinical Trials, Implants, Spinal Tagged With: InVivo Therapeutics, PixarBio

UPDATE: SEC suspends trading in PixarBio shares as bizarre InVivo takeover bid ends

January 23, 2017 By Sarah Faulkner Leave a Comment

UPDATED Jan. 30, 2017, with comment from Pixarbio; and Jan. 23, 2017, with news of SEC suspension. The U.S. Securities & Exchange Commission today suspended trading in shares of PixarBio (OTC:PXRB) due to possible “manipulative or deceptive activities” and due to questions about the accuracy of claims made by the company in press releases and SEC […]

Filed Under: Legal News, Mergers & Acquisitions, Wall Street Beat Tagged With: InVivo Therapeutics, PixarBio

InVivo adds patient to regenerative spinal scaffold trial

January 19, 2017 By Sarah Faulkner Leave a Comment

InVivo Therapeutics (NSDQ:NVIV) said today that it enrolled a new patient in the Inspire study of its neuro-spinal scaffold. Principal investigator Dr. Travis Dumont performed the implantation earlier this week, 67 hours after the patient’s spinal cord injury happened. “The implantation procedure of the neuro-spinal scaffold was successful, and the patient is doing well,” Dumont said […]

Filed Under: Clinical Trials, Implants, Spinal, Surgical Tagged With: InVivo Therapeutics, PixarBio

PixarBio CEO Reynolds ups the ante to $100m in pursuit of InVivo Therapeutics

January 4, 2017 By Brad Perriello Leave a Comment

PixarBio (OTC:PXRB) and CEO Frank Reynolds today upped the ante in their pursuit of InVivo Therapeutics (NSDQ:NVIV), the regenerative medicine company Reynolds co-founded and led until his 2013 ouster. In a lengthy, nearly 2,700-word press release yesterday, PixarBio and Reynolds cited a -41.7% slide in the price of NVIV shares since January 2016 in making their case for the merger […]

Filed Under: Legal News, Mergers & Acquisitions, Wall Street Beat Tagged With: InVivo Therapeutics, PixarBio

Former InVivo Therapeutics CEO Reynolds mounts $77m takeover bid

January 3, 2017 By Brad Perriello Leave a Comment

Updated to include a response from InVivo. Frank Reynolds, the PixarBio (OTC:PXRB) CEO who co-founded and led InVivo Therapeutics (NSDQ:NVIV) before his 2013 ouster, is mounting a $77 million takeover bid for his old company. In a lengthy, nearly 2,700-word press release issued today, PixarBio and Reynolds cited the -41.7% slide in the price of NVIV shares since January […]

Filed Under: Legal News, Mergers & Acquisitions, Regenerative Medicine, Wall Street Beat Tagged With: InVivo Therapeutics, PixarBio

PixarBio raises $7m for non-addictive morphine alternative

November 18, 2016 By Sarah Faulkner Leave a Comment

PixarBio (OTC:PXRB) raised $7 million for its biomaterial-based opioid alternative for post-operative acute and chronic pain relief, about 18% of its $40 million equity financing according to a regulatory filing that the Medford, Mass.-based company filed yesterday. The company’s drug delivery product, NeuroRelease, is an injectable morphine replacement therapy for use in the surgical/hospital setting, the […]

Filed Under: Business/Financial News, Food & Drug Administration (FDA), Funding Roundup, Pain Management, Surgical Tagged With: PixarBio

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