What Drove Organovo (ONVO) Stock Up 15% In After-Hour Session On Tuesday?

Shares of Organovo Holdings Inc. (Nasdaq: ONVO) were up 15.54% at $1.71 at the time of our last check in after-hours trading following an update.

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What kind of upgrade has ONVO offered?

Last week, Organovo (ONVO) said that it had reached the next milestone, target validation, and had successfully progressed with the usage of its first inflammatory bowel disease (IBD) model. In May 2022, Organovo declared that it has developed a successful Crohn’s disease model that illustrates important patient biological characteristics that differ from a non-diseased condition and that the model will be utilized to identify and describe therapies. Since then, the Crohn’s disease model has been used to comprehend disease biology and pinpoint particular gene targets.

According to ONVO, it has now been demonstrated that treating certain of these targets—specifically, injecting a drug directly into the 3D tissue model that affects the target—reproducibly reduces illness. Several targets are now thought to be validated, and the business intends to take advantage of the unique druggable prospects they bring. By the end of 2022, ONVO intends to progress at least one target program to medicinal chemistry in order to develop a novel, patented medication for Crohn’s disease.

How ONVO went through it?

From its Crohn’s disease model, the ONVO team has effectively identified illness-regulated genes and, more significantly, has discovered a group of genes that are disease drivers. When altered, these disease drivers have a direct impact on the disease and provide excellent treatment targets.

By September 2020, ONVO had modified its business strategy to take advantage of its 3D human tissue technologies for drug discovery. By creating disease models, ONVO was able to find effective treatments that had a higher chance of being approved for use in humans than those discovered using animal models. In order to identify treatment options that take use of the insights attainable from the truer human biology achievable in 3D human illness models, Organovo has concentrated on developing three-dimensional intestinal disease models.

What is ONVO up to now?

Additional IBD disease models that depict various illness-related features are being developed by Organovo (ONVO), each of which has the potential to be a considerable improvement over existing tools. Additionally, ONVO will try to use scientific data from these illness models and verify targets in commercial development agreements and alliances with pharmaceutical firms.