Organovo Holdings Faces Delisting Concerns

TL;DR

Organovo's in trouble, might get delisted.

AI Summary

Organovo Holdings, Inc. filed an 8-K on January 17, 2025, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The company, formerly known as Real Estate Restoration & Rental, Inc., is incorporated in Delaware and headquartered in San Diego, California.

Why It Matters

This filing indicates potential issues with Organovo Holdings' continued listing on an exchange, which could impact its stock trading and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards is a significant negative event that can lead to stock price depreciation and reduced liquidity.

Key Numbers

• 001-35996 — Commission File Number (Identifies the company's SEC filings)
• 27-1488943 — IRS Employer Identification No. (Company's tax identification number)

Key Players & Entities

• Organovo Holdings, Inc. (company) — Registrant
• Real Estate Restoration & Rental, Inc. (company) — Former company name
• January 16, 2025 (date) — Date of earliest event reported
• January 17, 2025 (date) — Date of report
• Delaware (jurisdiction) — State of incorporation
• San Diego, California (location) — Principal executive offices

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-20250116.htm (8-K) — 45KB
• 0000950170-25-006819.txt ( ) — 157KB
• onvo-20250116.xsd (EX-101.SCH) — 24KB
• onvo-20250116_htm.xml (XML) — 5KB

01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. As previously reported, on July 18, 2024, Organovo Holdings, Inc., a Delaware corporation (the "Company"), received a written notice (the "Notice") from the Listing Qualifications Staff (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") indicating that, based upon the closing bid price of the Company's common stock for the last 30 consecutive business days, the Company no longer met the requirement to maintain a minimum bid price of $1 per share, as set forth in Nasdaq Listing Rule 5550(a)(2) ("Rule 5550(a)(2)"). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company was provided an initial period of 180 calendar days, or until January 14, 2025, to regain compliance. On January 16, 2025, the Staff provided a notice to the Company (the "Nasdaq Notice") that the Company had not regained compliance with Rule 5550(a)(2) and is not eligible for a second 180 calendar day compliance period as the Company does not comply with the requirements for initial listing on The Nasdaq Capital Market. The Nasdaq Notice further indicated that, unless the Company timely requests a hearing before a Hearings Panel (the "Panel"), the Company's common stock would be subject to delisting. As a result, the Company intends to timely request a hearing. The hearing request will automatically stay any delisting or suspension action pending the hearing and the expiration of any extension period granted by the Panel following the hearing. In that regard, pursuant to the Nasdaq Listing Rules, the Panel has the discretion to grant a further extension not to exceed July 15, 2025. Following the hearing request, the Company's common stock will continue to be listed on The Nasdaq Capital Market under the symbol "ONVO." The Company intends to present its plan to the Panel, which compliance plan is expected to include conducting a reverse stock split if necessary to regain c

Forward-Looking Statements

Forward-Looking Statements Except for the factual statements made herein, information contained in this Current Report on Form 8-K consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that are difficult to predict. Words and expressions reflecting optimism, satisfaction or disappointment with current prospects or future events, as well as words such as "believes," "intends," "expects," "plans" and similar expressions, or the use of future tense, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Such forward-looking statements are not guarantees of performance and actual actions or events could differ materially from those contained in such statements. For example, there can be no assurance that the Company will meet the bid price requirement during any compliance period or otherwise in the future, that the Company will otherwise meet Nasdaq compliance standards, or that Nasdaq will grant the Company any relief from delisting as necessary or whether the Company can agree to or ultimately meet applicable Nasdaq requirements for any such relief. Reference is also made to other factors detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission, including the Company's most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The forward-looking statements contained in this Current Report on Form 8-K speak only as of the date of this Current Report on Form 8-K and the Company assumes no obligation to publicly update any forward-looking statements to reflect changes in information, events or circumstances after the date of this Current Report on Form 8-K, unless required by law.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Number Description 104 Cover Page Interactive Data File, formatted in Inline Extensible Business Reporting Language (iXBRL). * * *

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Organovo Holdings, Inc. Date: January 17, 2025 By: /s/ Keith Murphy Name: Keith Murphy Title: Executive Chairman

View Full Filing

View this 8-K filing on SEC EDGAR