August 28, 2017 / 8:38 PM / a year ago

BRIEF-Invivo Therapeutics reports strategic corporate restructuring

Aug 28 (Reuters) - Invivo Therapeutics Holdings Corp :

* Invivo Therapeutics announces strategic corporate restructuring

* Invivo Therapeutics - ‍company is undergoing a reduction in force (rif), in which it is eliminating 13 positions, or approximately 39 pct of its workforce​

* Invivo Therapeutics - ‍company is evaluating strategic options for allowing cell and gene therapy programs to move forward outside of company​

* Invivo Therapeutics Holdings Corp - ‍plans to restart cervical study once FDA approves a protocol that allows for enrollment in united states​

* Invivo Therapeutics Holdings- ‍as part of decision to focus on inspire, announced suspension of chronic sci stem cell, gene therapy research programs​

* Invivo Therapeutics- ‍as part of decision to focus on inspire, also announced halt in enrollment into canadian cervical study of neuro-spinal scaffold​

* Invivo Therapeutics Holdings - ‍restructuring actions all together are projected to result in 2018 operating expense savings of approximately $7.3 million​

* Invivo Therapeutics Holdings -restructuring actions all together projected to reduce 2018 cash burn from about $2.0 million/month to about $1.5 million/month Source text for Eikon: Further company coverage:

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