Dallas, Texas 11/19/2013 (Financialstrend) – In Monday’s trading session, Organovo Holdings Inc (NYSEMKT:ONVO) rose by 2.00%. The shares opened at a price of $13.04, which touched the intraday high of $13.65 and headed to a close of $12.75. Around 17.50 million exchanged hands over the trading day and an average volume of 5.38 million shares were traded over a 30 day period. The 52-week low of Organovo Holdings Inc (NYSEMKT:ONVO) shares is $1.80 and its 52-week high is $13.65. The company has a market capitalization of $975.47 million.
About the company
Organovo Holdings Inc (NYSEMKT:ONVO) was previously Real Estate Restoration & Rental. It was formed in 2007 and is a development stage company. It has developed & is commercializing a platform-technology for generation of three-dimensional human-tissues. These tissues can be employed in drug-discovery & development, biological-research & as therapeutic-implants for treating damaged / degenerating tissues & organs.
On 28th December 2011, Real Estate Restoration & Rental, Inc. entered into an Agreement & Plan of Merger, after to which RERR merged with the 100%-owned subsidiary- Organovo. On 8th February 2012, Organovo Holdings Inc (NYSEMKT:ONVO) merged with & into Organovo Acquisition Corp a 100%-owned subsidiary of Organovo, with it surviving this merger as a 100%-owned subsidiary of Organovo Holdings (the Merger). As a result of this Merger, Organovo Holdings Inc (NYSEMKT:ONVO) acquired the business of Organovo, Inc.
It has collaborative research-agreements with Pfizer, Inc & United Therapeutic Corporation. As of 31st March 2012, Organovo Holdings Inc (NYSEMKT:ONVO) has 5 federal grants. These include small-business Innovation Research grants & developed the NovoGen MMX-Bioprinter. This was the company’s 1st -generation 3D bioprinter. Organovo Holdings Inc (NYSEMKT:ONVO) is involved in developing specific 3D human-tissues to help Pfizer in discovering f therapies in 2 areas of interest. In addition to this, in 2011 October, the company entered into a research-agreement with Unither to establish & conduct a research-program to discover the treatments for pulmonary-hypertension using the NovoGen MMX Bioprinter technology.