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NVIV > SEC Filings for NVIV > Form 8-K on 18-Nov-2013All Recent SEC Filings

Show all filings for INVIVO THERAPEUTICS HOLDINGS CORP.

Form 8-K for INVIVO THERAPEUTICS HOLDINGS CORP.


18-Nov-2013

Regulation FD Disclosure


Item 7.01. Regulation FD Disclosure.

On November 18, 2013, InVivo Therapeutics Holdings Corp. (the "Company") posted the following on its website at www.invivotherapeutics.com:

InVivo responds to November 17, 2013 Boston Globe article

On November 17, 2013, the Boston Globe published an article in which the author referenced the Company losing "$33 million over the last nine months". While the GAAP reported net loss for the nine months ended September 30th, 2013 was approximately $33,049,000, it includes non-cash losses from the modification of warrants and derivatives totaling ($19,636,000) reflecting changes in the fair value of the derivative warrant liability as referenced in our November 7, 2013 press release.1Thus, the Company believes the ($13,413,000) pro forma net loss for these nine months is the more appropriate and representative figure to use when assessing our recent performance.

1 Pro forma net loss is a non-GAAP measure. The Company believes that this non-GAAP measure is useful as an additional means for investors to evaluate the Company's operating results, when reviewed in conjunction with the Company's GAAP financial statements. The Company believes the inclusion of this measure allows investors and management to evaluate and compare the Company's operating results from period to period in a meaningful and consistent manner. In addition, all companies do not calculate non-GAAP financial measures in the same manner and, accordingly, the measure "pro forma net loss" may not be comparable to similar measures used by other companies. See table below for a reconciliation of non-GAAP pro forma net loss to net loss derived in accordance with GAAP.

                                                              Nine Month
                                                                Ended
                                                            September 30,
                                                                 2013

      Pro forma net loss                                    $  (13,412,544 )
      Derivative gain (loss) and modification of warrants      (19,636,098 )

      Reported GAAP net income (loss)                       $  (33,048,642 )


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