PinkPennies
2 days ago
ONVO news .. Organovoβs FXR Program, including FXR314, to Be Acquired by Eli Lilly and Company
On February 23, 2025, Organovo Holdings, Inc., a Delaware corporation (the βCompanyβ) entered into an asset purchase agreement (the βPurchase Agreementβ) with Eli Lilly and Company, an Indiana corporation (βLillyβ). Pursuant to the Purchase Agreement, Lilly will purchase the Companyβs FXR program and related assets (the βAsset Saleβ) in consideration of (i) an upfront cash payment equal to $10.0 million, of which $9.0 million will be paid at closing and the remaining $1.0 million will be deposited into escrow for 15 months to satisfy any claims for indemnification under the Purchase Agreement, (ii) the assumption by Lilly of certain liabilities related to the FXR program, and (iii) potential milestone payments of up to $50.0 million in the aggregate, which are contingent upon the achievement of certain development, regulatory and commercial milestones. The Purchase Agreement contains customary representations, warranties and covenants for a transaction of this type. The Purchase Agreement also contains customary indemnification provisions pursuant to which the parties agree to indemnify each other for certain matters, including, among other things, breaches of certain representations, warranties and covenants in connection with the Asset Sale. Subject to the satisfaction or waiver of the closing conditions set forth in the Purchase Agreement, the Asset Sale is expected to close within approximately 30 days following the signing of the Purchase Agreement. In connection with the Asset Sale, the parties will also enter a transition services agreement and certain other ancillary agreements at the closing.
https://ih.advfn.com/stock-market/NASDAQ/organovo-ONVO/stock-news/95506537/organovo-s-fxr-program-including-fxr314-to-be-a
8k .. https://ih.advfn.com/stock-market/NASDAQ/organovo-ONVO/stock-news/95506518/form-8-k-current-report
phytokaiser1
1 year ago
From new 10Q. They dropped their burn rate a little more. Looking like 6 months of cash on hand starting Oct 1. They will need money before their new target data.
Date Cash Burn Rate
Friday, March 31, 2023 $15,301
Friday, June 30, 2023 $10,754 $4,547
Saturday, September 30, 2023 $7,617 $3,137
81vette
1 year ago
I think your right,latest 10k showβs employee stock program approved,10.75M cash on hand,look at latest quarterly to see cash used to figure burn rate,they have no revenue yet unfortunately, FINVIS might show a burn rate(lots of great info,I use it often,scanner is best I have ever used,lots of factors)