ONVO - Organovo up 36% on bullish assessment of 3D human tissue biotech

Organovo Holdings (ONVO) has rocketed 36% to $9.80 in afternoon trading after Seeking Alpha contributor Gunner Laine Hardy offered a bullish assessment behind the 3D human tissue biotech.While Hardy cautions the stock is a long-term risky buy, he sees promise in the company's customized 3D human tissue platform that can be used "to enable critical complex multicellular disease models able to assist to produce more accurately effective drug candidates."The company is in the midst of a transition from a service-based company to one focused on drug development.In a February 2021 10-Q, the company said that it is aiming to begin clinical testing of at least one candidate in the next three to five years.However, getting to that point could be problematic given the company's cash position of $19M as of December 2020.Organovo has had a bumpy ride the last couple of years. In December 2019, it announced it was merging with Tarveda Therapeutics

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Organovo up 36% on bullish assessment of 3D human tissue biotech