Organovo Announces Fiscal Third-Quarter 2018 Results

Organovo (NASDAQ:ONVO) reported financial results for the fiscal third quarter of 2018 and updated its full-year fiscal 2018 outlook.  The Company reported fiscal third-quarter total revenue of $1.2 million.

As quoted in the press release:

“Our liver therapeutic tissue program continues to make excellent progress in achieving critical regulatory and scientific milestones,” said Taylor J. Crouch, CEO, Organovo.“With the U.S. Food and Drug Administration (“FDA”) recently granting orphan designation for our NovoTissues^® treatment of Alpha-1 antitrypsin deficiency (“A1AT”), our path to commercializing this novel therapeutic comes with significant developmental and economic incentives.  With few alternative therapies and a high annual cost of care, patient need is great in treating this rare, debilitating liver disease.  We’ve also begun new studies in a second therapeutic indication within the category of inborn errors of metabolism, Fumarylacetoacetate Hydrolase (“FAH”) deficiency, and look forward to reporting proof-of-principle data in the coming months.”

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