2021 Q3 Form 10-Q Financial Statement
#000156459021055246 Filed on November 08, 2021
Income Statement
| Concept | 2021 Q3 | 2020 Q3 |
|---|---|---|
| Revenue | $0.00 | $0.00 |
| YoY Change | -100.0% | |
| Cost Of Revenue | $0.00 | |
| YoY Change | -100.0% | |
| Gross Profit | $0.00 | |
| YoY Change | -100.0% | |
| Gross Profit Margin | ||
| Selling, General & Admin | $2.823M | $6.110M |
| YoY Change | -53.8% | -3.75% |
| % of Gross Profit | ||
| Research & Development | $649.0K | $30.00K |
| YoY Change | 2063.33% | -97.92% |
| % of Gross Profit | ||
| Depreciation & Amortization | $34.00K | $10.00K |
| YoY Change | 240.0% | -94.12% |
| % of Gross Profit | ||
| Operating Expenses | $3.507M | $8.950M |
| YoY Change | -60.82% | 14.85% |
| Operating Profit | -$3.507M | -$8.950M |
| YoY Change | -60.82% | 31.1% |
| Interest Expense | $2.000K | $0.00 |
| YoY Change | -100.0% | |
| % of Operating Profit | ||
| Other Income/Expense, Net | $2.000K | $0.00 |
| YoY Change | -100.0% | |
| Pretax Income | -$3.505M | -$8.950M |
| YoY Change | -60.84% | 42.29% |
| Income Tax | $0.00 | $0.00 |
| % Of Pretax Income | ||
| Net Earnings | -$3.505M | -$8.950M |
| YoY Change | -60.84% | 42.2% |
| Net Earnings / Revenue | ||
| Basic Earnings Per Share | -$0.40 | |
| Diluted Earnings Per Share | -$402.6K | -$1.362M |
| COMMON SHARES | ||
| Basic Shares Outstanding | 8.705M | |
| Diluted Shares Outstanding | 8.705M |
Balance Sheet
| Concept | 2021 Q3 | 2020 Q3 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $33.79M | $17.66M |
| YoY Change | 91.34% | -41.81% |
| Cash & Equivalents | $33.80M | $17.66M |
| Short-Term Investments | ||
| Other Short-Term Assets | $512.0K | $1.810M |
| YoY Change | -71.71% | 30.22% |
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | $20.00K | |
| Other Receivables | $0.00 | |
| Total Short-Term Assets | $34.30M | $19.49M |
| YoY Change | 76.0% | -40.42% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $552.0K | $20.00K |
| YoY Change | 2660.0% | -97.36% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $1.026M | $1.140M |
| YoY Change | -10.0% | 770.23% |
| Total Long-Term Assets | $1.578M | $1.154M |
| YoY Change | 36.74% | -77.18% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $34.30M | $19.49M |
| Total Long-Term Assets | $1.578M | $1.154M |
| Total Assets | $35.88M | $20.64M |
| YoY Change | 73.81% | -45.34% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $958.0K | $201.0K |
| YoY Change | 376.62% | 32.24% |
| Accrued Expenses | $717.0K | $457.0K |
| YoY Change | 56.89% | -76.35% |
| Deferred Revenue | $0.00 | |
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $1.675M | $658.0K |
| YoY Change | 154.56% | -78.92% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $0.00 | |
| YoY Change | -100.0% | |
| Total Long-Term Liabilities | $0.00 | $0.00 |
| YoY Change | -100.0% | |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $1.675M | $658.0K |
| Total Long-Term Liabilities | $0.00 | $0.00 |
| Total Liabilities | $1.675M | $660.0K |
| YoY Change | 153.79% | -90.15% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$302.3M | |
| YoY Change | ||
| Common Stock | ||
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $34.21M | $19.99M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $35.88M | $20.64M |
| YoY Change | 73.84% | -45.35% |
Cashflow Statement
| Concept | 2021 Q3 | 2020 Q3 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$3.505M | -$8.950M |
| YoY Change | -60.84% | 42.2% |
| Depreciation, Depletion And Amortization | $34.00K | $10.00K |
| YoY Change | 240.0% | -94.12% |
| Cash From Operating Activities | -$2.143M | -$7.150M |
| YoY Change | -70.03% | 38.83% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$29.00K | |
| YoY Change | ||
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $0.00 | $10.00K |
| YoY Change | -100.0% | -66.67% |
| Cash From Investing Activities | -$29.00K | $10.00K |
| YoY Change | -390.0% | -66.67% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -45.00K | 10.00K |
| YoY Change | -550.0% | |
| NET CHANGE | ||
| Cash From Operating Activities | -2.143M | -7.150M |
| Cash From Investing Activities | -29.00K | 10.00K |
| Cash From Financing Activities | -45.00K | 10.00K |
| Net Change In Cash | -2.217M | -7.130M |
| YoY Change | -68.91% | 39.26% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$2.143M | -$7.150M |
| Capital Expenditures | -$29.00K | |
| Free Cash Flow | -$2.114M | |
| YoY Change |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1259000 | ||
| CY2021Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
3507000 | |
| CY2020Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
8950000 | |
| us-gaap |
Operating Expenses
OperatingExpenses
|
6066000 | ||
| us-gaap |
Operating Expenses
OperatingExpenses
|
11736000 | ||
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-6066000 | ||
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-11736000 | ||
| CY2021Q3 | us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
0 | |
| CY2020Q3 | us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
-5000 | |
| us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
0 | ||
| us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
1000 | ||
| CY2021Q3 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
2000 | |
| CY2020Q3 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
4000 | |
| CY2021Q3 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
0 | |
| CY2020Q3 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
1000 | |
| us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
25000 | ||
| us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
6000 | ||
| CY2021Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
2000 | |
| CY2020Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
0 | |
| us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
29000 | ||
| CY2021Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | |
| CY2020Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | ||
| CY2021Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3505000 | |
| CY2020Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-8950000 | |
| us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-6037000 | ||
| us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-11719000 | ||
| CY2020Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
925000 | |
| CY2020Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-2769000 | |
| CY2020Q3 | us-gaap |
Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
|
1000 | |
| CY2020Q3 | us-gaap |
Profit Loss
ProfitLoss
|
-8950000 | |
| CY2020Q3 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
19986000 | |
| CY2021Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
39196000 | |
| CY2021Q2 | onvo |
Stock Issued During Period Value Public Offering
StockIssuedDuringPeriodValuePublicOffering
|
251000 | |
| CY2021Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
415000 | |
| CY2021Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-2532000 | |
| CY2021Q2 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
37330000 | |
| CY2021Q3 | us-gaap |
Profit Loss
ProfitLoss
|
-3505000 | |
| CY2021Q3 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
34206000 | |
| us-gaap |
Profit Loss
ProfitLoss
|
-11719000 | ||
| us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
0 | ||
| us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-1000 | ||
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
59000 | ||
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
8000 | ||
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
841000 | ||
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
5063000 | ||
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
0 | ||
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-92000 | ||
| us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-627000 | ||
| us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
2011000 | ||
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
677000 | ||
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-519000 | ||
| CY2020Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
17656000 | |
| CY2021Q3 | us-gaap |
Restricted Cash Noncurrent
RestrictedCashNoncurrent
|
111000 | |
| us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
277000 | ||
| us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-633000 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-3556000 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-9718000 | ||
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
223000 | ||
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
0 | ||
| us-gaap |
Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
|
0 | ||
| us-gaap |
Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
|
7000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-223000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
7000 | ||
| us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
251000 | ||
| us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
0 | ||
| us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
45000 | ||
| us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
2000 | ||
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
0 | ||
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
14000 | ||
| us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
0 | ||
| us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
1000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
206000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
11000 | ||
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-3573000 | ||
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-9700000 | ||
| CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
37475000 | |
| CY2020Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
27356000 | |
| CY2021Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
33902000 | |
| CY2020Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
17656000 | |
| CY2021Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
33791000 | |
| CY2020Q3 | us-gaap |
Restricted Cash Noncurrent
RestrictedCashNoncurrent
|
0 | |
| CY2021Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
33902000 | |
| CY2020Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
17656000 | |
| onvo |
Fixed Asset Reclass
FixedAssetReclass
|
0 | ||
| onvo |
Fixed Asset Reclass
FixedAssetReclass
|
31000 | ||
| us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
0 | ||
| us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
2000 | ||
| us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Note<span style="font-weight:normal;"> </span>1. Description of Business </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;color:#000000;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Nature of Operations</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Organovo Holdings, Inc. (“Organovo Holdings,” “Organovo,” and the “Company”) is an early-stage biotechnology company that focuses on building high fidelity, 3D tissues that recapitulate key aspects of human disease. The Company uses these models to identify gene targets capable of modulating the disease phenotype across multiple patients and intends to initiate drug discovery programs around these validated targets. The Company is initially targeting the intestine and has ongoing 3D tissue development efforts in Ulcerative colitis (“UC”) and Crohn’s disease (“CD”). The Company intends to add additional tissues/diseases/targets to its portfolio in the coming year. In line with these plans, the Company is building upon both its external and in house scientific expertise, which will be essential to its drug development effort. </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">The Company uses its proprietary technology to build functional 3D human tissues that mimic key aspects of native human tissue composition, architecture, function and disease. Organovo’s advances include cell type-specific compartments, prevalent intercellular tight junctions, and the formation of microvascular structures. Management believes these attributes can enable critical complex, multicellular disease models that can be used to develop clinically effective drugs for a variety of therapeutic areas.</span></p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company’s NovoGen Bioprinters<span style="font-weight:bold;"><sup style="font-size:85%;line-height:120%;vertical-align:top">®</sup></span> are automated devices that enable the fabrication of 3D living tissues comprised of mammalian cells. <span style="color:#000000;">The Company believes that the use of its bioprinting platform as well as complementary 3D technologies will allow it to develop an understanding of disease biology that leads to validated novel drug targets, and that it can develop therapeutics to those targets to treat disease. </span></p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The majority of the Company’s current focus is in inflammatory bowel disease (“IBD”), including CD and UC. The Company expects to create disease models, leveraging its prior work including the work found in its peer-reviewed publication on bioprinted intestinal tissues (<span style="Background-color:#FFFFFF;color:#212121;">Madden et al. Bioprinted 3D Primary Human Intestinal Tissues Model Aspects of Native Physiology and ADME/Tox Functions. iScience. 2018 Apr 27;2:156-167. doi: 10.1016/j.isci.2018.03.015.) The Company’s current understanding of intestinal tissue models and IBD disease models leads it to believe that it can create models that provide greater insight into the biology of these diseases than are generally currently available. Using these disease models, the Company intends to identify and validate therapeutic targets. After finding novel therapeutic drug targets, the Company intends to develop novel small molecule, antibody, or other therapeutic drug candidates to treat the disease, and advance these novel drug candidates towards an Investigational New Drug (“IND”) filing and clinical trials. </span></p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;color:#212121;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">The Company expects to broaden its work into additional therapeutic areas over time and is currently exploring specific tissues for development. In the Company’s work to identify the areas of interest, it evaluates areas that might be better served with 3D disease models than currently available models as well as the potential commercial opportunity.</span></p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Except where specifically noted or the context otherwise requires, references to “Organovo Holdings”, “the Company”, and “Organovo” in these notes to the unaudited condensed consolidated financial statements refers to Organovo Holdings, Inc. and its wholly owned subsidiaries, Organovo, Inc. and Opal Merger Sub, Inc.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:8pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">COVID-19</p> <p style="Background-color:#FFFFFF;margin-top:6pt;margin-bottom:0pt;text-indent:0%;color:#212529;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In December 2019, a respiratory illness caused by a novel strain of coronavirus, SARS-CoV-2, causing the Coronavirus Disease 2019, also known as COVID-19 emerged. While initially the outbreak was largely concentrated in China, it has since spread globally and has been declared a pandemic by the World Health Organization. Global health concerns relating to the COVID-19 pandemic have been weighing on the macroeconomic environment, and the pandemic has significantly increased economic volatility and uncertainty. The pandemic has resulted in government authorities implementing numerous measures to try to contain the virus, such as travel bans and restrictions, quarantines, shelter-in-place or stay-at-home orders, and business shutdowns. In 2020, the Company adapted quickly to COVID-19, instituting universal masking and distancing in the lab and in the offices. The Company encouraged and enabled remote work whenever possible. The Company instituted safety check software to monitor symptoms and successfully maintained a robust level of progress while ensuring the safety of its employees. As the viral load and variants allow, the Company intends to carefully return to more typical lab and office work flow. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The extent to which COVID-19 impacts the Company’s operations will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the rise of vaccine-resistant variants, duration of the outbreak, <span style="color:#212529;">travel bans and restrictions, quarantines, shelter-in-place or stay-at-home orders, and business shutdowns</span>. In particular, the continued COVID-19 </p> <p style="margin-bottom:0pt;margin-top:12pt;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">pandemic could adversely impact various aspects of the Company’s operations, including among others, the ability to raise additional capital, the timing and ability to pursue the Company’s strategy, given the impact the pandemic may have on the manufacturing and supply chain, sales and marketing and clinical trial operations of potential strategic partners, and the ability to advance its research and development activities and pursue development of its pipeline products, each of which could have an adverse impact on the Company’s business and financial results.</span></p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> | ||
| CY2021Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
33800000 | |
| CY2021Q3 | us-gaap |
Restricted Cash Noncurrent
RestrictedCashNoncurrent
|
100000 | |
| CY2021Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-302300000 | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-3600000 | ||
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Significant estimates used in preparing the unaudited condensed consolidated financial statements include those assumed in the valuation of stock-based compensation expense and the valuation allowance on deferred tax assets. On an ongoing basis, management reviews these estimates and assumptions. Though the impact of the COVID-19 pandemic to its business and operating results presents additional uncertainty, the Company continues to use the best information available to inform its significant accounting estimates.</p> | ||
| CY2021Q3 | us-gaap |
Dilutive Securities
DilutiveSecurities
|
0 | |
| us-gaap |
Dilutive Securities
DilutiveSecurities
|
0 | ||
| CY2020Q3 | us-gaap |
Dilutive Securities
DilutiveSecurities
|
0 | |
| us-gaap |
Dilutive Securities
DilutiveSecurities
|
0 | ||
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
700000 | ||
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
900000 | ||
| CY2021Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
426000 | |
| CY2020Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
4138000 | |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
841000 | ||
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
5063000 | ||
| CY2021Q3 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
3400000 | |
| CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | |
| CY2020Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | |
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | ||
| CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
1.1683 | |
| CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0073 | |
| CY2021Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P6Y | |
| CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
6.52 | |
| CY2021Q3 | onvo |
Number Of Participants Enrolled In Employee Stock Purchase Plan
NumberOfParticipantsEnrolledInEmployeeStockPurchasePlan
|
0 | |
| CY2021Q1 | onvo |
Combination Of Securities Authorized For Offer And Sale
CombinationOfSecuritiesAuthorizedForOfferAndSale
|
150000000.0 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1004655 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
20.03 | |
| us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
0 | ||
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
856400 | |
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
12000 | ||
| us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
7.66 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
354530 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
40.95 | ||
| us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
0 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
0 | ||
| CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
662125 | |
| CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
8.61 | |
| CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
0 | |
| CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
108492 | |
| CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
7.61 | |
| CY2021Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
0 | |
| us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P8Y11M15D | ||
| us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P8Y11M15D | ||
| CY2021Q3 | us-gaap |
Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
|
1794206 | |
| CY2021Q3 | onvo |
Number Of Additional Ipr Proceedings Filed
NumberOfAdditionalIPRProceedingsFiled
|
2 | |
| onvo |
Monthly Rent Payments
MonthlyRentPayments
|
4000 | ||
| CY2020Q4 | onvo |
Number Of Lease Agreement
NumberOfLeaseAgreement
|
2 | |
| CY2021Q3 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
5000 | |
| us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
18000 | ||
| us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
25000 | ||
| CY2021Q3 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
9000 | |
| us-gaap |
Variable Lease Cost
VariableLeaseCost
|
18000 | ||
| CY2020Q3 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
0 | |
| us-gaap |
Variable Lease Cost
VariableLeaseCost
|
0 | ||
| CY2021Q3 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
39000 | |
| us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
78000 | ||
| CY2020Q3 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
0 | |
| us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
0 |
