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Organovo report increased sales, revenue passes $1m

3D bio-printing company, Organovo (NASDAQ:ONVO) have reported revenue for the quarter ended September 30, 2016. According to unaudited information filed with the Securities and Exchange Commission (SEC), the U.S. company made revenue of $1.02 million in products and service, $345 thousand in collaborations and $8,000 from grants for this most recent quarter. The total reported revenue was $1.4 million. This is an increase on the comparative period, when the figure was $187,000.

The company is yet to generate a profit, and these most recent results show a net loss of $9.4 million, down from $11.3 million.

As an early stage biotech company, Organovo have substantial Selling, General and Administrative (SGA) expenses. During the most recent quarter these expenses totalled $10.9 million, a marginal improvement on the comparative figure of $11.6 million for Q3’15.

Organovo will be hosting a call with investors and analysts later this evening. 3DPI will be sure to bring you updates on the event.