AP NEWS

Organovo: Fiscal 3Q Earnings Snapshot

February 7, 2019

SAN DIEGO (AP) _ Organovo Holdings Inc. (ONVO) on Thursday reported a loss of $6.4 million in its fiscal third quarter.

On a per-share basis, the San Diego-based company said it had a loss of 6 cents.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.

The development-stage company focused on commercializing functional human tissue for drug and biological research posted revenue of $779,000 in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $867,000.

In the final minutes of trading on Thursday, the company’s shares hit 99 cents. A year ago, they were trading at $1.37.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ONVO at https://www.zacks.com/ap/ONVO

AP RADIO
Update hourly