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.

Top 5 EV Tech Stocks to Buy for 2023

The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report, "Top 5 EV Tech Stocks to Buy for 2023".

Click Here to Download the FREE Report.


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.


On What Basis Did Swvl Holdings Corp (SWVL) Stock Rise 47% Pre-Hours?

When last checked, Swvl Holdings Corp. (Nasdaq: SWVL), a...

Is There Any Reason As To Why The Zai Lab (ZLAB) Stock Expanded By 13%?

The biopharmaceutical business Zai Lab Limited (NASDAQ: ZLAB), which...

5 Best Stocks to Trade in Premarket Movers Today

Pre-market is a period of time where trading activity...



Don't miss

Wearable Devices (WLDS) Stock Rose 12% On Tuesday, But On What Basis?

Wearable Devices Ltd (NASD: WLDS) is experiencing significant growth...

Did Anything Boost ObsEva (OBSV) Stock In Pre-Hours Trading?

Following an update, shares of ObsEva SA (NASD: OBSV)...

How Did The Kalera (KAL) Stock Rise 32% Pre-Hours?

At the time of the most recent check, shares...

Why Has Selina Hospitality (SLNA) Stock Increased In Extended Session On Friday?

The stock of Selina Hospitality PLC (NASD: SLNA), which...

Purple Innovation Inc (PRPL) is set for another landmark as it hit the volume of 1.33 million

Purple Innovation Inc (NASDAQ: PRPL) open the trading on November 30, 2023, with great promise as it jumped 0.68% to $0.62. During the day,...

uniQure N.V. (QURE) last month performance of 18.95% certainly makes it a sizzling prospect

Witnessing the stock’s movement on the chart, on November 30, 2023, uniQure N.V. (NASDAQ: QURE) had a quiet start as it plunged -0.29% to...

The key reasons why CRH Plc (CRH) is -0.25% away from 52-week high?

CRH Plc (NYSE: CRH) established initial surge of 0.37% at $62.75, as the Stock market unbolted on November 30, 2023. During the day, the...


Please enter your comment!
Please enter your name here