SAN DIEGO, Aug. 04, 2016 (GLOBE NEWSWIRE) -- Organovo Holdings, Inc. (NYSE MKT:ONVO) (“Organovo”), a three-dimensional biology company focused on delivering scientific and medical breakthroughs using its 3D bioprinting technology, today reported financial results for the fiscal first quarter of 2017 and affirmed its full-year fiscal 2017 and long-range outlook. Net loss was $8.8 million, or $0.09 per share, for the fiscal first quarter of 2017, as compared to $8.5 million, or $0.10 per share, for the fiscal first quarter of 2016.
Organovo reported fiscal first-quarter total revenue of $0.9 million, which consisted largely of product and service revenue(1). Total revenue increased 191 percent versus the comparable period of fiscal 2016 and 63 percent versus the fiscal fourth quarter of 2016. Collaborations revenue(2), which primarily represents revenue from the Company’s research agreements with L’Oreal USA and Merck & Co., increased by $0.2 million from the year-ago period.
Organovo reported fiscal first-quarter total revenue of $0.9 million, which consisted largely of product and service revenue(1). Total revenue increased 191 percent versus the comparable period of fiscal 2016 and 63 percent versus the fiscal fourth quarter of 2016. Collaborations revenue(2), which primarily represents revenue from the Company’s research agreements with L’Oreal USA and Merck & Co., increased by $0.2 million from the year-ago period.
