Post by marriott on Mar 13, 2015 21:49:14 GMT
via Seeking Alpha
Organovo says liver tissue will be $100M business
Mar 13 2015, 08:49 ET | About: Organovo Holdings, Inc. (ONVO) | By: Douglas W. House, SA News Editor
Regenerative medicine firm Organovo (NYSEMKT:ONVO) is bullish over the prospects of its exVive3D liver tissue product and service, saying it will grow into the "tens of millions" with the potential to reach a top line of $100M+. The company doesn't specify precisely how it will ramp up sales considering that it does not anticipate recognizing any commercial revenue from the liver business until at least fiscal Q1 2016 (ending June 30) despite a fiscal Q3 2015 launch (quarter ended December 31, 2015). Robust market uptake appears elusive.
CEO Keith Murphy remains undaunted. He says the company's "win rate", the customers who sign a contract after requesting a quote, is over 80%. "We are encouraged that we have a high win rate, that our commercial pricing continues to be supported and that we have received repeat business."
Research services revenue for fiscal Q3 and for the nine-month period ending 12/31: $139K.
The company plans to release a 3D kidney tissue product in mid-2016.
ONVO is up 3% premarket on turnover of 15K shares.