Organovo: Fiscal 3Q Earnings Snapshot
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.