logo-loader
Health
Organovo Holdings Inc.

Organovo reports smaller loss and sharp fall in revenue

The net loss for the quarter was lower compared to last year but revenues slid

3D
Organovo is a biotech company that develops 3D bioprinted tissues

Organovo Holdings Inc (NASDAQ:ONVO) said on Thursday it posted a net loss which was smaller than last year but revenue declined sharply because of a fall in research income.

The company said its net loss for the quarter was at US$7.4mln, a US$2.7mln improvement over the year ago level. The reason for the smaller loss is due to lower employee and lab suuply costs. Total revenue was US$700,000, from US$990,000 in the same period last year.

READ: Shares of Organovo fall after it narrows fiscal 2018 guidance

Revenue was driven down by lower income from liver tissue modeling research services.

Organovo is a biotechnology company that pioneers in the development of 3D bioprinted tissues aimed at treating a variety of liver diseases. The company is based in San Diego, California.

Contact Rene Pastor at [email protected]

 

Quick facts: Organovo Holdings Inc.

Price: $0.28

Market: NASDAQ
Market Cap: $36.48 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Buds & Duds: Cannabis stocks flat as a pancake but CROP shares jump on first...

Cannabis stocks cruised into Friday flat as a pancake across North American markets. Buds today were CROP Infrastructure Corp (CSE:CROP) (OTCMKTS:CRXPF), True Leaf Brands Inc (CSE:MJ) (OTCMKTS:TRLFF), while the duds were TerrAscend Corp (CSE:TER) (OTCMKTS:TRSSF),...

9 hours, 5 minutes ago

2 min read