Organovo (ONVO) Misses Q2 EPS by 2c

Organovo (NYSE: ONVO) reported Q2 EPS of ($0.12), $0.02 worse than the analyst estimate of ($0.10). Revenue for the quarter came in at $301 thousand versus the consensus estimate of $29 thousand.

The Company also achieved its next milestone for its kidney program ahead of schedule. Functional validation of its kidney tissue, due to be achieved in December 2015, was completed in October 2015. The Company is preparing the data, which includes functional measurement of tissue performance, as well as characteristic toxic behavior of known molecules, for submission to a peer-reviewed journal. Organovo remains on schedule to initiate contracting for this product in the calendar third quarter of 2016.

For earnings history and earnings-related data on Organovo (ONVO) click here.

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