Organovo(ONVO) - 2025 Q4 - Annual Results

Financial Performance and Compliance - Organovo Holdings reported preliminary unaudited cash for the fiscal year ending March 31, 2025, and expects to meet all requirements for continued listing on the Nasdaq Capital Market[6]. - The company had stockholders' equity of $364,000 as of December 31, 2024, which did not meet Nasdaq's minimum requirement of$2,500,000[10]. - Following the asset sale and other financial activities, the company believes it has a minimum of $2,500,000 in stockholders' equity as of April 2, 2025[12]. - The company received a notice from Nasdaq indicating it did not meet the minimum bid price requirement of$1.00 per share[10]. - The company presented its compliance plan to the Nasdaq Hearings Panel on February 27, 2025, and was granted an exception until April 15, 2025, to demonstrate compliance[10]. - Forward-looking statements indicate potential risks and uncertainties regarding compliance with Nasdaq listing requirements[13]. Asset Sale - On March 25, 2025, Organovo completed the sale of its FXR program to Eli Lilly for an upfront cash payment of $10.0 million, with potential milestone payments of up to$50.0 million[11]. Financial Strategy - The company has engaged in warrant exercises and sales of common stock to improve its financial position[12]. - Organovo's financial information is subject to adjustments based on the completion of customary annual audit procedures[6]. Company Classification - The company is classified as an emerging growth company under the Securities Act[5].