Brief: Organovo says preliminary Q2 revenue $1.3 mln - $1.4 mln

VivoSim Labs

04/10/2017 22:05

Oct 4 (Reuters) - Organovo Holdings Inc  ONVO.O  
    * Organovo announces preliminary fiscal second-quarter total 
revenue; company restructures to improve operational efficiency 
    * Sees Q2 revenue $1.3 million to $1.4 million 
    * Announced a restructuring plan to improve operational 
efficiency 
    * Organovo announced a plan to restructure its business to 
better focus and align resources, reducing approximately 15 
positions 
    * Expects workforce reduction will decrease operating costs 
by $1.3 million in fiscal 2018 and $2.7 million in fiscal 2019 
    * Actions associated with restructuring are anticipated to 
be complete by end of calendar-year 2017 
    * Reduction in future operating expenses is expected to 
"improve" company's fiscal 2018 negative adjusted EBITDA 
 
Source text for Eikon:  ID:nGNXOESGLa  
Further company coverage:  ONVO.O  
 
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