Why Organovo Stock Continues to Drop
We’ve been writing about disruptive technologies like 3D bioprinting for the past seven years now. The promise of bioprinted human tissues is something that wall street analysts have been patiently waiting for a while now, at least when it comes to Organovo Holdings (ONVO). The company’s stock has been steadily plummeting over the years while the company tries to commercialized their medical research into bioprinted tissue. In order to understand why Organovo Holdings stock continues to drop, we need to start from the beginning.
The Origins of Organovo
The story begins in 2010 when Organovo entered into a collaborative research agreement with Pfizer to develop tissue-based drug discovery assays. The company had their initial public offering in 2012 when they did the old reverse merger trick and used a shell company called “Real Estate Restoration and Rental, Inc” to list on the over-the-counter market. By July 2013, they had a $326 million dollar market cap and plans to move onto the New York Stock Exchange. At that time people were very excited about 3D printing, and even more excited about 3D bioprinting. Thoughts of organs being printed on demand made investors eager to get in on the only 3D bioprinting stock in town at the time. (At least one other has popped up since then and there are also plenty of
