Organovo Holdings (NASDAQ: ONVO), a clinical stage biotechnology company focused on IBD treatments, has provided a financial and listing status update. The company reported preliminary unaudited cash and cash equivalents of approximately $11.3 million as of March 31, 2025, with net cash utilization of $2.0-$2.2 million in Q4 FY2025.
The company expects to maintain its Nasdaq Capital Market listing as its stock has traded above the required $1.00 minimum bid price since March 21, 2025. Full fiscal Q2 results are expected between June 9-13, 2025.
Additionally, Organovo anticipates receiving a $5 million milestone payment within the next 12 months upon the start of a Phase 2 clinical trial for its recently sold FXR agonist. The company could receive up to $50 million in total future milestone payments related to this asset.
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