Organovo Announces Reverse Stock Split

Core Points - Organovo Holdings, Inc. announced a 1-for-12 reverse stock split effective March 20, 2025, to comply with Nasdaq's minimum bid price requirement of $1.00 per share [1][5]. - The reverse stock split will reduce the number of issued and outstanding shares from approximately 21.4 million to about 1.8 million, without changing the par value of $0.001 per share [3][5]. - The company will continue trading under the symbol "ONVO" on the Nasdaq Capital Market with a new CUSIP number [2]. Company Information - Organovo is a clinical stage biotechnology company focused on developing novel treatment approaches for inflammatory bowel disease (IBD) and utilizes proprietary technology to create 3D human tissues for drug development [7]. - The reverse stock split was approved by stockholders at the annual meeting on November 20, 2024, allowing the board to select a split ratio between 1-for-5 and 1-for-20 [5]. - Following the reverse split, the number of shares available under equity incentive plans will be proportionately adjusted [4].