Organovo Holdings Inc (NASDAQ:ONVO) has made it large in the market. With the year coming to an end, here are the reasons this company witnessed an overall 30% upsurge in its shares and credibility.
Organovo’s launch of ExVive human kidney tissue
The company’s ExVive human kidney tissue is its second product on sale in the market. The product allows the customers to track what happens in their kidney when they are exposed to drug. Also, it helps them know about the development process of drug in the human kidney. In 2014, the company had launched a similar product for liver and it was called ExVive human liver tissue.
The surge in the credibility of company’s commercial product and repute can be analyzed from the fact that it started receiving orders for its 3D-bioprinted product even before its launch. Two huge pharmaceuticals have signed contracts with the company for their product.
This product launch gave the company, a direct benefit in terms of revenue growth. Organovo is expecting that the new product can help it in getting over $100 million annual revenue.
Collaborations with companies that can make for bright future
Roche and Bristol-Myers Squibb are two of the biggest customers of the company. In their scientific journals and presentations, they have mentioned Organovo’s ExVive human kidney tissue, which makes it important for the company’s future. The surge in its revenue and shares in the market can be well attributed to this factor as well.
Organovo’s triple-digit growth target
The company targets to sustain its revenue by three digit percentage. With launching itself into metabolism studies, Organovo is seemingly working on a smart strategy to enhance its revenue. With a new product or service in the next year, there will be a long way for the company to evolve and go.
What lies in the next year is yet to know, but for now, Organovo seems to be riding the success horse like a pro.
