InVivo Therapeutics , a Cambridge biotech company developing a device that reduces the damage from severe spinal cord injuries, began trading on the Nasdaq Stock Market Friday.
The company was founded in 2005 to commercialize a technology invented by doctors from Massachusetts General Hospital and the Massachusetts Institute of Technology. Since initially going public, it has been traded in over-the-counter markets, and the company executed a reverse stock split to increase its value enough to list on Nasdaq.
“We are pleased to reach this important corporate milestone,” said Mark Perrin, the company’s chief executive, in a statement. “We are now better positioned to enhance stock liquidity and attract institutional investors.”
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According to the company, the device it calls a neuro-spinal scaffold has progressed to human testing and significantly improved nerve functions in one patient. It began treating a second patient in January and is seeking to recruit three more. The company’s chief executive, Mark Perrin, also rang the opening bell at Nasdaq on Friday.
The stock opened at $15.50 a share.
Jack Newsham can be reached at jack.newsham@globe.com. Follow him on Twitter @TheNewsHam.