-=Organovo (ONVO) to merge with Tarveda Therapeutics

Organovo Holdings (NASDAQ:ONVO) has entered into a merger agreement with Tarveda Therapeutics, a privately-held, clinical stage biopharmaceutical company.

Under the terms of the agreement, Tarveda would merge with a wholly-owned subsidiary of Organovo in an all-stock transaction. The merged company would operate under the name Tarveda Therapeutics, and trade on Nasdaq under the ticker symbol “TVDA.”

It is anticipated that Tarveda and Organovo stockholders will own ~75% and ~25% of the combined company, respectively. The merger is anticipated to close in Q1 2020.

Following the closing of the transaction, Tarveda intends to advance its two clinical stage oncology programs, PEN-866 and PEN-221, and further develop novel conjugates from its proprietary miniature drug conjugate platform.

=Organovo Holdings Inc. (ONVO) reported earnings on Thur 8 Feb 2018 (a/h)

SAN DIEGO (AP) _ Organovo Holdings Inc. (ONVO) on Thursday reported a loss of $7.8 million in its fiscal third quarter.

The San Diego-based company said it had a loss of 7 cents per share.

The development-stage company focused on commercializing functional human tissue for drug and biological research posted revenue of $1.2 million in the period.

Organovo expects full-year revenue in the range of $4.5 million to $5.2 million.

In the final minutes of trading on Thursday, the company's shares hit $1.32. A year ago, they were trading at $3.68.