Brief: Organovo To Explore Strategic Alternatives And Implement Restructuring Plan

VivoSim Labs

07/08/2019 14:27

Aug 7 (Reuters) - Organovo Holdings Inc  ONVO.O :
    * ORGANOVO TO EXPLORE STRATEGIC ALTERNATIVES AND IMPLEMENT
RESTRUCTURING PLAN
    * ORGANOVO HOLDINGS INC - IMPLEMENTING A RESTRUCTURING PLAN
TO
SIGNIFICANTLY REDUCE EXPENSES ASSOCIATED WITH ITS LEAD PROGRAM
IN ORDER TO PRESERVE CASH.
    * ORGANOVO HOLDINGS INC - ENGAGED ROTH CAPITAL PARTNERS AS
ITS
FINANCIAL ADVISOR TO ASSIST IN EXPLORATION OF STRATEGIC
ALTERNATIVES.
    * ORGANOVO HOLDINGS INC - CANCELLED ITS FISCAL FIRST-QUARTER
2019
EARNINGS CALL SCHEDULED FOR AUGUST 8
    * ORGANOVO - CO HAD NOT GENERATED DECISIVE DATA SUPPORTING
PROLONGED FUNCTIONALITY, THERAPEUTIC BENEFIT OF LEAD THERAPEUTIC
LIVER TISSUE CANDIDATE
    * ORGANOVO HOLDINGS INC - DECISION WAS REACHED AFTER
CONCLUDING
HAD NOT GENERATED DECISIVE SCIENTIFIC DATA SUPPORTING BENEFIT OF
LIVER TISSUE CANDIDATE
    * ORGANOVO HOLDINGS INC - SUSPENDED DEVELOPMENT OF LIVER
THERAPEUTIC TISSUE PROGRAM
    * ORGANOVO - POTENTIAL STRATEGIC ALTERNATIVES THAT MAY BE
EXPLORED
OR EVALUATED INCLUDE POTENTIAL FOR AN BUSINESS COMBINATION, SALE
OF ASSETS, AMONG OTHERS
    * ORGANOVO -  REDEVELOPMENT OF LEAD THERAPEUTIC LIVER TISSUE
CANDIDATE WOULD LIKELY NOT PROVIDE SUFFICIENT RETURN ON
INVESTMENT FOR STOCKHOLDERS

Source text for Eikon:  ID:nGNX5bKCYY 
Further company coverage:  ONVO.O 

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