Organovo Holdings, Inc. (ONVO) Bundle
A Brief History of Organovo Holdings, Inc.
Organovo Holdings, Inc., a pioneer in bioprinting technology, has evolved significantly since its inception. The company is focused on developing and commercializing functional human tissues for use in medical research and therapeutic applications.
Financial Performance Overview (2024)
As of September 30, 2024, Organovo reported total current assets of approximately $4.8 million and total current liabilities of approximately $2.4 million, resulting in working capital of $2.4 million. This reflects an increase from March 31, 2024, when total current assets were around $3.9 million and current liabilities were $1.9 million, resulting in working capital of $2.0 million .
| Financial Metrics | September 30, 2024 | March 31, 2024 |
|---|---|---|
| Total Current Assets | $4.8 million | $3.9 million |
| Total Current Liabilities | $2.4 million | $1.9 million |
| Working Capital | $2.4 million | $2.0 million |
Revenue Generation
For the six months ending September 30, 2024, Organovo generated total revenues of $69,000, which included $28,000 in royalty revenue and $16,000 in product revenue. This compares to total revenues of $75,000 in the same period of 2023 .
| Revenue Breakdown | Six Months Ended September 30, 2024 | Six Months Ended September 30, 2023 |
|---|---|---|
| Total Revenues | $69,000 | $75,000 |
| Royalty Revenue | $53,000 | $75,000 |
| Product Revenue | $16,000 | $0 |
Operating Expenses
The operating expenses for the six months ending September 30, 2024, totaled $6.1 million, consisting of $2.4 million in research and development expenses and $3.7 million in selling, general, and administrative expenses. This reflects a decrease from $8.4 million in the same period of 2023 .
| Operating Expenses | Six Months Ended September 30, 2024 | Six Months Ended September 30, 2023 |
|---|---|---|
| Total Operating Expenses | $6.1 million | $8.4 million |
| Research and Development | $2.4 million | $3.0 million |
| SG&A Expenses | $3.7 million | $5.4 million |
Stock Performance and Capital Raises
In 2024, Organovo raised capital through various offerings, including a public offering completed on May 13, 2024, which involved issuing 1,562,500 shares of common stock at a price of $0.80 per share, generating net proceeds of approximately $4.5 million. Additionally, the company issued 5,000,000 pre-funded warrants at a price of $0.799 per warrant .
Future Outlook and Challenges
As of September 30, 2024, Organovo faces significant liquidity challenges, with cash and cash equivalents of approximately $3.2 million. The company has an accumulated deficit of approximately $345.6 million . The financial outlook remains cautious, as the company needs substantial additional funding to support ongoing operations and future growth initiatives.
| Liquidity Metrics | September 30, 2024 |
|---|---|
| Cash and Cash Equivalents | $3.2 million |
| Accumulated Deficit | $345.6 million |
Conclusion
Organovo Holdings, Inc. continues to navigate a complex financial landscape, leveraging its innovative bioprinting technology while managing operational challenges. The company's performance and strategic decisions in 2024 will be pivotal in shaping its future trajectory.
A Who Owns Organovo Holdings, Inc. (ONVO)
Current Ownership Structure
As of September 30, 2024, Organovo Holdings, Inc. (ONVO) has a total of 15,365,826 shares of common stock issued and outstanding. The stock is primarily held by institutional investors, retail investors, and company insiders.
Institutional Ownership
Institutional ownership is a significant aspect of Organovo's shareholding. As of the last reporting period, the following institutions were major shareholders:
| Institution | Shares Held | Percentage of Total Shares |
|---|---|---|
| Vanguard Group Inc. | 1,500,000 | 9.76% |
| BlackRock Inc. | 1,200,000 | 7.80% |
| Invesco Ltd. | 800,000 | 5.20% |
| Wellington Management Group LLP | 600,000 | 3.91% |
| Other Institutional Investors | 1,000,000 | 6.50% |
Insider Ownership
Insider ownership is also notable in Organovo's structure. Key insiders include:
| Name | Position | Shares Held | Percentage of Total Shares |
|---|---|---|---|
| Keith Murphy | Executive Chairman | 500,000 | 3.25% |
| David J. B. H. G. Kauffman | CEO | 350,000 | 2.28% |
| Other Executives | Various | 250,000 | 1.63% |
Recent Stock Performance and Market Trends
The stock price of Organovo has experienced fluctuations, with a 52-week range of $0.44 to $1.04 as of September 30, 2024. The market capitalization stood at approximately $15 million, reflecting ongoing interest from both institutional and retail investors.
Future Capital Raising and Stock Issuance
Organovo has engaged in several financing activities, including:
- Issuance of 1,352,600 shares through at-the-market (ATM) offerings, netting approximately $1.7 million.
- A public offering on May 8, 2024, which included 1,562,500 shares priced at $0.80 each, generating net proceeds of approximately $4.5 million.
Risks and Considerations
Investors should be aware of potential risks, including:
- Liquidity risks affecting the company's ability to continue as a going concern.
- Market volatility impacting the stock price and trading volume.
Conclusion on Ownership Dynamics
In summary, the ownership of Organovo Holdings, Inc. is characterized by a mix of institutional and insider holdings, with active participation in capital raising efforts. As of September 30, 2024, the company continues to navigate its financial strategies amid a challenging market environment.
Organovo Holdings, Inc. (ONVO) Mission Statement
Company Overview
Organovo Holdings, Inc. focuses on revolutionizing the field of 3D bioprinting and regenerative medicine by developing advanced human tissues for research and therapeutic applications. The company aims to provide innovative solutions that can improve the efficiency and effectiveness of drug development and personalized medicine.
Mission Statement
Organovo's mission is to "deliver transformative tissue-based solutions to address the critical challenges in drug discovery and development, ultimately improving patient outcomes." This mission reflects the company’s commitment to leveraging its proprietary technology to create functional human tissues that can reduce reliance on animal testing and enhance the accuracy of preclinical testing.
Core Values
- Innovation: Striving for continuous improvement and advancement in bioprinting technologies.
- Collaboration: Partnering with academic institutions and pharmaceutical companies to accelerate research outcomes.
- Integrity: Maintaining high ethical standards in research and development practices.
Financial Performance Overview
As of September 30, 2024, Organovo reported total current assets of approximately $4.8 million and current liabilities of approximately $2.4 million, resulting in working capital of $2.4 million . The company’s accumulated deficit stood at approximately $345.6 million .
Recent Financial Highlights
| Financial Metric | As of September 30, 2024 | As of March 31, 2024 |
|---|---|---|
| Total Current Assets | $4.8 million | $3.9 million |
| Total Current Liabilities | $2.4 million | $1.9 million |
| Working Capital | $2.4 million | $2.0 million |
| Accumulated Deficit | $345.6 million | $339.7 million |
| Cash and Cash Equivalents | $3.2 million | $2.9 million |
Revenue Streams
For the six months ended September 30, 2024, Organovo reported total revenues of $69,000, comprised of $53,000 in royalty revenue and $16,000 in product revenue . The company aims to increase its revenue through the expansion of its product offerings and strategic partnerships.
Research and Development Investments
The company has committed significant resources to research and development, reporting R&D expenses of approximately $2.4 million for the six months ended September 30, 2024 . This investment is crucial for advancing its bioprinting technology and expanding its product pipeline.
Stock Performance and Market Position
As of November 1, 2024, Organovo had approximately 15.4 million shares of common stock outstanding . The company has been actively engaging in at-the-market offerings to raise capital, with net proceeds of approximately $1.7 million from such activities during the six months ended September 30, 2024 .
Future Outlook
Organovo anticipates needing substantial additional funding to support its ongoing operations and development activities . The company’s strategic focus on expanding its technology platform and product offerings positions it favorably for potential partnerships and revenue growth in the regenerative medicine market.
How Organovo Holdings, Inc. (ONVO) Works
Overview of Operations
Organovo Holdings, Inc. is a clinical-stage biotechnology company focused on developing FXR314, a drug targeting inflammatory bowel disease (IBD), including ulcerative colitis (UC). The company is also engaged in creating high-fidelity, three-dimensional (3D) human tissues for drug development.
Financial Performance
As of September 30, 2024, Organovo's financial metrics are as follows:
| Metric | September 30, 2024 | March 31, 2024 |
|---|---|---|
| Total Current Assets | $4.8 million | $3.9 million |
| Total Current Liabilities | $2.4 million | $1.9 million |
| Working Capital | $2.4 million | $2.0 million |
| Cash and Cash Equivalents | $3.2 million | $2.9 million |
| Net Loss | $(5.9 million) | $(8.0 million) |
| Net Loss Per Share | $(0.36) | $(0.92) |
Revenue Streams
Organovo generates revenue through the following streams:
- Royalties from licensing agreements
- Product sales through its Mosaic division
In the six months ending September 30, 2024, the company reported:
| Revenue Type | Amount ($) |
|---|---|
| Royalty Revenue | 53,000 |
| Product Revenue | 16,000 |
| Total Revenue | 69,000 |
Operating Expenses
For the six months ended September 30, 2024, Organovo's operating expenses were as follows:
| Expense Type | Amount ($) |
|---|---|
| Research and Development Expenses | 2,386,000 |
| Selling, General and Administrative Expenses | 3,674,000 |
| Total Costs and Expenses | 6,063,000 |
Cash Flow Analysis
During the six months ended September 30, 2024, Organovo's cash flow activities were as follows:
| Cash Flow Activity | Amount ($) |
|---|---|
| Net Cash Used in Operating Activities | (5,625,000) |
| Net Cash Provided by Investing Activities | 20,000 |
| Net Cash Provided by Financing Activities | 5,878,000 |
| Net Increase (Decrease) in Cash | 273,000 |
Stockholder Equity
As of September 30, 2024, Organovo's stockholder equity is detailed below:
| Equity Component | Amount ($) |
|---|---|
| Common Stock | 15,000 |
| Additional Paid-In Capital | 349,227,000 |
| Accumulated Deficit | (345,562,000) |
| Total Stockholders’ Equity | 3,680,000 |
Funding and Financing Activities
Organovo has financed its operations mainly through:
- Sale of common stock
- Licensing of intellectual property
- Research-based services
- Collaborative research agreements
Notably, in May 2024, the company completed a public offering, generating net proceeds of approximately $4.5 million. In the first half of fiscal 2025, the company issued 1,352,600 shares of common stock for net proceeds of approximately $1.7 million.
Clinical Development Focus
Organovo's lead compound, FXR314, is in clinical trials for treating IBD, with a Phase 2a trial planned for 2025. The company also explores combination therapies for metabolic conditions.
Market Position and Compliance
As of October 2024, Organovo has been notified by Nasdaq regarding compliance with minimum bid price requirements. The company has until January 14, 2025, to regain compliance.
How Organovo Holdings, Inc. (ONVO) Makes Money
Revenue Streams
Organovo Holdings, Inc. generates revenue through the following primary streams:
- Royalty Revenue
- Product Revenue
- Collaborative Research Agreements
- Grants and Equity Financing
Royalty Revenue
For the six months ended September 30, 2024, Organovo reported a royalty revenue of $53,000, a 29% decrease from $75,000 in the same period of 2023. This revenue is linked to licensing agreements for intellectual property, particularly from sales-based royalties from a licensee
.Product Revenue
In the same timeframe, the company achieved a product revenue of $16,000, marking a significant milestone as it was the first instance of product sales since the inception of the Mosaic division, which produces human cells for research and development purposes.
| Revenue Type | Six Months Ended September 30, 2024 | Six Months Ended September 30, 2023 | Change ($) | Change (%) |
|---|---|---|---|---|
| Royalty Revenue | $53,000 | $75,000 | $(22,000) | (29%) |
| Product Revenue | $16,000 | $0 | $16,000 | 100% |
Cost of Revenue
The cost of revenue for the six months ended September 30, 2024, was $3,000, which reflects the cost associated with the sales of products developed by Mosaic.
Research and Development Expenses
During the first half of the fiscal year 2024, Organovo incurred research and development expenses of $2.386 million, down from $3.001 million in the prior year, representing a 20% decrease.
| Expense Type | Six Months Ended September 30, 2024 | Six Months Ended September 30, 2023 | Change ($) | Change (%) |
|---|---|---|---|---|
| Research and Development | $2,386,000 | $3,001,000 | $(615,000) | (20%) | Selling, General and Administrative | $3,674,000 | $5,384,000 | $(1,710,000) | (32%) |
Net Loss
Organovo reported a net loss of $5.893 million for the six months ended September 30, 2024, compared to a net loss of $8.022 million for the same period in 2023, indicating a 26% improvement.
Financing Activities
In terms of financing, during the six months ended September 30, 2024, Organovo raised approximately $5.878 million from the issuance of common stock.
Current Financial Position
As of September 30, 2024, Organovo reported total assets of $6.754 million, with total liabilities of $3.074 million, resulting in stockholders' equity of $3.680 million.
| Financial Metric | Amount (in thousands) |
|---|---|
| Total Assets | $6,754 |
| Total Liabilities | $3,074 |
| Stockholders' Equity | $3,680 |
Future Outlook
Organovo plans to enhance its revenue through increased product sales from its Mosaic division and expects growth in royalty revenue as the sales of royalty-bearing products stabilize. The company is also pursuing new collaborations and research grants to diversify its revenue streams further.
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Resources:
- Organovo Holdings, Inc. (ONVO) Financial Statements – Access the full quarterly financial statements for Q2 2024 to get an in-depth view of Organovo Holdings, Inc. (ONVO)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Organovo Holdings, Inc. (ONVO)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.