UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form
For the quarterly period ended
OR
For the transition period from to
Commission File Number
(Exact name of registrant as specified in its charter)
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(State or other jurisdiction of incorporation or organization) |
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(I.R.S. Employer Identification No.) |
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(Address of principal executive offices and zip code) |
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(Registrant’s telephone number, including area code) |
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer |
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Accelerated filer |
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Smaller reporting company |
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Emerging growth company |
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes
As of February 1, 2023, a total of
ORGANOVO HOLDINGS, INC.
INDEX
Item 1. |
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3 |
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Condensed Consolidated Balance Sheets as of December 31, 2022 (Unaudited) and March 31, 2022 |
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5 |
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6 |
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Notes to Unaudited Condensed Consolidated Financial Statements |
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Item 2. |
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Management’s Discussion and Analysis of Financial Condition and Results of Operations |
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Item 3. |
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Item 4. |
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Item 1. |
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Item 1A. |
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Item 2. |
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43 |
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Item 3. |
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43 |
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Item 4. |
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43 |
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Item 5. |
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43 |
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Item 6. |
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44 |
2
PART I—FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
Organovo Holdings, Inc.
Condensed Consolidated Balance Sheets
(in thousands except for share and per share data)
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December 31, 2022 |
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March 31, 2022 |
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(Unaudited) |
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Assets |
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Current Assets |
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Cash and cash equivalents |
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$ |
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$ |
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Accounts receivable |
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Investment in equity securities |
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Prepaid expenses and other current assets |
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Total current assets |
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Fixed assets, net |
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Restricted cash |
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Operating lease right-of-use assets |
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Prepaid expenses and other assets, net |
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Total assets |
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$ |
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$ |
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Liabilities and Stockholders’ Equity |
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Current Liabilities |
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Accounts payable |
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$ |
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$ |
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Accrued expenses |
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Operating lease liability, current portion |
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Total current liabilities |
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Operating lease liability, net of current portion |
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Total liabilities |
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Stockholders’ Equity |
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Common stock, $ |
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Additional paid-in capital |
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Accumulated deficit |
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Accumulated other comprehensive income |
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Treasury stock, |
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Total stockholders’ equity |
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Total Liabilities and Stockholders’ Equity |
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$ |
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$ |
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The accompanying notes are an integral part of these condensed consolidated financial statements.
3
Organovo Holdings, Inc.
Unaudited Condensed Consolidated Statements of Operations and Other Comprehensive Loss
(in thousands except share and per share data)
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Three Months Ended |
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Three Months Ended |
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Nine Months Ended |
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Nine Months Ended |
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December 31, 2022 |
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December 31, 2021 |
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December 31, 2022 |
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December 31, 2021 |
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Revenues |
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revenue |
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$ |
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$ |
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$ |
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$ |
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Total Revenues |
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Research and development expenses |
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Selling, general and administrative expenses |
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Total costs and expenses |
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Loss from Operations |
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Other Income (Expense) |
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Loss on investment in equity securities |
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Interest income |
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Other income |
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Total Other Income |
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Income Tax Expense |
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Net Loss |
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$ |
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$ |
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$ |
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$ |
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Other comprehensive loss: |
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Unrealized gain on available-for-sale debt securities |
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Comprehensive loss |
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$ |
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$ |
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Net loss per common share—basic and diluted |
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$ |
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$ |
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$ |
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Weighted average shares used in computing |
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The accompanying notes are an integral part of these condensed consolidated financial statements.
4
Organovo Holdings, Inc.
Unaudited Condensed Consolidated Statements of Stockholders’ Equity
(in thousands)
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Three and Nine Months Ended December 31, 2021 |
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Common Stock |
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Treasury Stock |
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Shares |
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Amount |
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Additional Paid-in Capital |
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Shares |
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Amount |
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Accumulated Deficit |
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Accumulated Other Comprehensive Income |
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Total |
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Balance at March 31, 2021 |
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$ |
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$ |
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$ |
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Issuance of common stock from public offering, net |
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Stock-based compensation expense |
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Net loss |
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Balance at June 30, 2021 (Unaudited) |
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$ |
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$ |
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$ |
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Issuance of common stock under employee and |
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Stock-based compensation expense |
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Net loss |
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Balance at September 30, 2021 (Unaudited) |
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$ |
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$ |
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$ |
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Issuance of common stock under employee and |
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Stock-based compensation expense |
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Net loss |
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Balance at December 31, 2021 (Unaudited) |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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Three and Nine Months Ended December 31, 2022 |
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Common Stock |
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Treasury Stock |
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Shares |
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Amount |
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Additional Paid-in Capital |
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Shares |
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Amount |
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Accumulated Deficit |
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Accumulated Other Comprehensive Income |
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Total |
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Balance at March 31, 2022 |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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Issuance of common stock under employee and |
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Stock-based compensation |
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Net loss |
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Balance at June 30, 2022 (Unaudited) |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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Issuance of common stock under employee and |
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Stock-based compensation |
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Net loss |
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Balance at September 30, 2022 (Unaudited) |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
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Issuance of common stock under employee and |
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Stock-based compensation |
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Net loss |
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Unrealized gain on available-for-sale debt securities |
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Balance at December 31, 2022 (Unaudited) |
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$ |
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$ |
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$ |
( |
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$ |
( |
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$ |
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$ |
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The accompanying notes are an integral part of these condensed consolidated financial statements.
5
Organovo Holdings, Inc.
Unaudited Condensed Consolidated Statements of Cash Flows
(in thousands)
|
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Nine Months Ended |
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Nine Months Ended |
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