Organovo Holdings ( (ONVO) ) has shared an update.
On March 25, 2025, Organovo Holdings, Inc. completed the sale of its FXR program, including the lead asset FXR314, to Eli Lilly and Company. The transaction, which was initially disclosed on February 25, 2025, involved an upfront cash payment of $10 million, with potential milestone payments of up to $50 million contingent on future achievements. This strategic move allows Lilly to acquire all commercial and intellectual property rights for worldwide development, while Organovo benefits from the financial influx and potential future earnings. Additionally, Vaidehi Joshi resigned from Organovo’s Board on March 21, 2025, with no disagreements cited.
More about Organovo Holdings
Organovo Holdings, Inc. is a clinical stage biotechnology company focused on developing novel treatment approaches in inflammatory bowel disease (IBD). The company utilizes proprietary technology to create three-dimensional (3D) human tissues that mimic key aspects of native human tissue composition, architecture, function, and disease.
YTD Price Performance: -48.55%
Average Trading Volume: 679,045
Technical Sentiment Signal: Buy
Current Market Cap: $4.83M
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