Organovo Holdings Files 10-Q for Q2 2024

TL;DR

Organovo Holdings 10-Q filed. Financials and equity plans updated for June 30, 2024.

AI Summary

Organovo Holdings, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates. Key financial data and disclosures related to equity plans and other comprehensive income are presented.

Why It Matters

This filing provides investors with the latest financial health and operational status of Organovo Holdings, Inc., crucial for investment decisions.

Risk Assessment

Risk Level: medium — The filing contains standard financial disclosures for a public company, but the specific financial performance and future outlook are not detailed enough in the provided text to assess a definitive risk level.

Key Numbers

• 2024-06-30 — Period End Date (Financial reporting period)
• 2024-03-31 — Previous Period End Date (Comparison point for financial data)
• 2023-06-30 — Prior Year Period End Date (Year-over-year comparison point)

Key Players & Entities

• ORGANOVO HOLDINGS, INC. (company) — Filer
• 20240630 (date) — Period of Report
• 20240805 (date) — Filing Date
• SAN DIEGO (location) — Business Address City
• DE (location) — State of Incorporation

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value ONVO The Nasdaq Stock Mar
• $1 — ment to maintain a minimum bid price of $1 per share, as set forth in Nasdaq Listi

Filing Documents

• onvo-20240630.htm (10-Q) — 1464KB
• onvo-ex31_1.htm (EX-31.1) — 12KB
• onvo-ex31_2.htm (EX-31.2) — 12KB
• onvo-ex32_1.htm (EX-32.1) — 10KB
• 0000950170-24-090726.txt ( ) — 6472KB
• onvo-20240630.xsd (EX-101.SCH) — 1059KB
• onvo-20240630_htm.xml (XML) — 948KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 3 Condensed Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and March 31, 2024 3 Unaudited Condensed Consolidated Statements of Operations and Other Comprehensive Loss for the Three Months Ended June 30, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Stockholders' Equity for the Three Months Ended June 30, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Cash Flows for the Three Months Ended June 30, 2024 and 2023 6 Notes to Unaudited Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.

Controls and Procedures

Controls and Procedures 27

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 28 Item 1A.

Risk Factors

Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 48 Item 3. Defaults Upon Senior Securities 48 Item 4. Mine Safety Disclosure 48 Item 5. Other Information 48 Item 6. Exhibits 49 2

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Organovo Holdings, Inc. C ondensed Consolidated Balance Sheets (in thousands except for share and per share data) June 30, 2024 March 31, 2024 (Unaudited) Assets Current Assets Cash and cash equivalents $ 6,187 $ 2,901 Accounts receivable 48 33 Inventory 408 297 Prepaid expenses and other current assets 640 705 Total current assets 7,283 3,936 Fixed assets, net 601 669 Restricted cash 143 143 Operating lease right-of-use assets 1,194 1,299 Prepaid expenses and other assets, net 249 302 Total assets $ 9,470 $ 6,349 Liabilities and Stockholders' Equity Current Liabilities Accounts payable $ 1,119 $ 627 Accrued expenses 404 727 Operating lease liability, current portion 510 506 Total current liabilities 2,033 1,860 Operating lease liability, net of current portion 775 888 Total liabilities 2,808 2,748 Commitments and Contingencies (Note 7) Stockholders' Equity Common stock, $ 0.001 par value; 200,000,000 shares authorized, 14,373,076 and 10,077,726 shares issued and outstanding at June 30, 2024 and March 31, 2024, respectively 14 10 Additional paid-in capital 349,662 343,261 Accumulated deficit ( 343,013 ) ( 339,669 ) Treasury stock, 46 shares at cost ( 1 ) ( 1 ) Total stockholders' equity 6,662 3,601 Total Liabilities and Stockholders' Equity $ 9,470 $ 6,349 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 Organovo Holdings, Inc. U naudited Condensed Consolidated Statements of Operations and Other Comprehensive Loss (in thousands except share and per share data) Three Months Ended Three Months Ended June 30, 2024 June 30, 2023 Revenues Royalty revenue $ 25 $ 75 Product revenue 14 — Total Revenues 39 75 Cost of revenues 2 — Research and development expenses 1,40

View Full Filing

View this 10-Q filing on SEC EDGAR