Organovo Regains Compliance with Nasdaq Minimum Bid Price Requirement
September 03 2020 - 4:05PM
Organovo Holdings, Inc. (“Organovo” or the “Company”) (Nasdaq:
ONVO) announced today that it has regained compliance with the
minimum bid price requirement for continued listing on The Nasdaq
Capital Market (the “
Minimum Bid Price
Requirement”). On September 2, 2020, Organovo
received a letter from the Listing Qualifications Department of The
Nasdaq Stock Market, Inc. stating that because Organovo’s common
stock had a closing bid price at or above $1.00 per share for a
minimum of ten (10) consecutive business days, Organovo had
regained compliance with the Minimum Bid Price Requirement and that
Nasdaq had closed the matter.
About Organovo
The Company has historically focused its efforts
on developing its in vivo liver tissues to treat end-stage liver
disease and a select group of life-threatening, orphan diseases,
for which there are limited treatment options other than organ
transplantation. On August 6, 2020, the Company filed a definitive
proxy statement with the Securities and Exchange Commission
(the “SEC”) for its 2020 Annual Meeting of Stockholders to be
held virtually on Tuesday, September 15, 2020 at 9:00 a.m. (Pacific
Daylight Time). Please refer to the proxy statement for
information about the proposals to be voted on at the 2020 Annual
Meeting, including the membership of the Company’s Board of
Directors and the potential future direction of the
Company.
Forward Looking Statements
Any statements contained in this press release
that do not describe historical facts constitute forward-looking
statements as that term is defined in the Private Securities
Litigation Reform Act of 1995. Forward-looking statements include,
but are not limited to, statements regarding the Company’s ability
to satisfy the continued listing requirements of The Nasdaq
Capital Market. Any forward-looking statements contained herein are
based on current expectations, but are subject to a number of risks
and uncertainties. These risks and uncertainties and other factors
are identified and described in more detail in the Company’s
filings with the SEC, including its Quarterly Report on Form
10-Q filed with the SEC on August 10, 2020. You
should not place undue reliance on these forward-looking
statements, which speak only as of the date that they were made.
These cautionary statements should be considered with any written
or oral forward-looking statements that the Company may issue in
the future. Except as required by applicable law, including the
securities laws of the United States, the Company does not
intend to update any of the forward-looking statements to conform
these statements to reflect actual results, later events or
circumstances or to reflect the occurrence of unanticipated
events.
Important Information and Where to Find
It
This communication may be deemed to be
solicitation material in respect to the Company’s 2020 Annual
Meeting of Stockholders to be held virtually on Tuesday, September
15, 2020 at 9:00 a.m. (Pacific Daylight Time) (the “2020 Annual
Meeting”). On August 6, 2020, the Company filed a
definitive proxy statement with the SEC and mailed a Notice of
Internet Availability of Proxy Materials to its stockholders
containing instructions on how to access the proxy materials for
the 2020 Annual Meeting, including the Company’s definitive proxy
statement and annual report for the fiscal year ended
March 31, 2020, over the internet. BEFORE MAKING
ANY VOTING OR INVESTMENT DECISION, INVESTORS AND STOCKHOLDERS ARE
URGED TO READ THESE MATERIALS CAREFULLY AND IN THEIR ENTIRETY
BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY AND
THE MATTERS TO BE CONSIDERED AT THE 2020 ANNUAL MEETING.
Investors and stockholders may obtain, free of charge, copies of
the definitive proxy statement and any other documents filed by the
Company with the SEC in connection with the 2020 Annual Meeting at
the SEC’s website (http://www.sec.gov) and on the investor
relations section of the Company’s website at ir.organovo.com.
Participants in the
Solicitation
The Company and its directors and executive
officers may be deemed to be participants in the solicitation of
proxies from the Company’s stockholders in connection with the 2020
Annual Meeting. Information regarding the special interests of the
Organovo directors and executive officers in the matters to be
considered at the 2020 Annual Meeting is included in the definitive
proxy statement referred to above. The definitive proxy statement
is available free of charge from the sources indicated above.
Organovo:
Taylor J. Crouch858 224
1000info@organovo.com
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